Miscellaneous Economics Mcqs

A. The firm is making a loss and will shutdown in the short term
B. The firm is making a profile
C. The firm is making a loss but will continue to produce in the short term
D. The firm is making a loss and is making a negative contribution to fixed costs

A. The total product will fall
B. The average product will fall
C. Average variable cost will fall
D. Total revenue will fall

A. Marginal cost is Rs20
B. Average cost falls
C. Variable cost rises by Rs100
D. Average fixed cost is Rs10

A. is derived from the average fixed costs
B. Converges with the average cost as output increases
C. Equals the total costs divided by the output
D. Equals revenue minus profits

A. Total costs fall
B. Marginal costs increase
C. Average costs fall
D. Revenue falls

A. The marginal product fall as more units of a variable factor are added to a fixed factor
B. Marginal utility falls as more unity of a product are consumed
C. The total product falls as more units of a variable factor are added to a fixed factor
D. The marginal product increases as more units of a variable factor are added to a fixed factor

A. Allocatively inefficient
B. X inefficient
C. Consumer inefficient
D. Productively inefficient

A. Demand
B. Land
C. Labour
D. Capital

A. 7As
B. 10As
C. 3As
D. 1A

A. An inward shift of the production possibility frontier
B. A movement along the production possibility frontier
C. An outward shift of the production possibility frontier
D. The pivoting of the production possibility frontier