Question:

MR is :

A.

the second order derivative of TR

B.

the first order derivative of TC

C.

the first order derivative of TR

D.

the first order derivative of TR

Answer» d. the first order derivative of TR

Question:

______ function expresses the relationship between price of the good and quantity of thegood demanded.

A.

Supply

B.

Consumption

C.

Demand

D.

Income

Answer» c. Demand

Question:

In input-output analysis,____ is obtained by dividing the input of the desired sector by thetotal output of the same sector.

A.

the transaction matrix

B.

a technology coefficient

C.

non negativity constrains

D.

the

Answer» b. a technology coefficient

Question:

In the short run, a monopolist will shut down if it is producing a level of output wheremarginal revenue is equal to short-run marginal cost and price is:

A.

less than average variable cost

B.

greater than average variable cost.

C.

less than average total cost

D.

greater than average total cost

Answer» a. less than average variable cost

Question:

In monopoly, when the demand curve is elastic, MR is:

A.

1

B.

0

C.

positive

D.

negative

Answer» c. positive

Question:

When the total revenue functions is R = 100−X2, the marginal revenue is :

A.

100 – 2X

B.

100

C.

−2X

D.

−X2

Answer» c. −2X

Question:

For a cost function TC = 3Q2+ 7Q +12, MC is :

A.

6Q

B.

6Q + 7

C.

3Q + 7

D.

undefined

Answer» b. 6Q + 7

Question:

Feasible solution of LPP is:

A.

Values of decision variables satisfy the constraints

B.

Values of decision variables satisfy the objective functions

C.

Values of variable satisfy the objective functions

D.

the value of the objective function

Answer» b. Values of decision variables satisfy the objective functions

Question:

At a price of Rs11.00, quantity demanded is 90; and at a price of Rs.9.00, quantity demandedis 110. The price elasticity of demand is:

A.

0.8

B.

1

C.

1.5

D.

-1.22

Answer» d. -1.22

Question:

Given a total utility function, Marginal utility is obtained by finding ______

A.

First derivative

B.

Second derivative

C.

Integral

D.

Coefficient

Answer» a. First derivative