» Micro Economics 1 solved MCQs

If income effect works in the direction opposite to that of substitution effect, the good is not:

Byadmin April 27, 2021

Question:

If income effect works in the direction opposite to that of substitution effect, the good is not:

Giffen good

Inferior good

Normal good

Superior Good

Answer» c. Normal good

Note:

The above multiple-choice question is for all general and Competitive Exams in India.

» Micro Economics 1 solved MCQs

Total utility is maximum when

Question:

Total utility is maximum when

A.
marginal utility is zero
B.
marginal utility is maximum
C.
marginal utility increases
D.
average utility is maximum
Answer» a. marginal utility is zero

Note: The above multiple-choice question is for all general and Competitive Exams in India.

Read More Total utility is maximum when
» The Political Economy of Development and Planing solved MCQs

The Club of Rome is a;

Question:

The Club of Rome is a;

A.
Governmental agency
B.
Non Governmental Agency
C.
Both
D.
None
Answer» b. Non Governmental Agency

Note: The above multiple-choice question is for all general and Competitive Exams in India.

Read More The Club of Rome is a;
» Micro economics 2 solved MCQs

________ is one organization created from a formal agreement between a group of producers of a good or service, to regulate supply in an effort to regulate or manipulateprices.

Question:

________ is one organization created from a formal agreement between a group of producers of a good or service, to regulate supply in an effort to regulate or manipulateprices.

A.
industry
B.
firm
C.
monopoly
D.
cartel
Answer» d. cartel

Note: The above multiple-choice question is for all general and Competitive Exams in India.

Read More ________ is one organization created from a formal agreement between a group of producers of a good or service, to regulate supply in an effort to regulate or manipulateprices.
» Micro economics 2 solved MCQs

Under monopolistic competition, super normal profit arise when

Question:

Under monopolistic competition, super normal profit arise when

A.
AR=AC
B.
MR=MC
C.
AR>AC
D.
AR<AC
Answer» c. AR>AC

Note: The above multiple-choice question is for all general and Competitive Exams in India.

Read More Under monopolistic competition, super normal profit arise when
» Macro Economics 1 solved MCQs

Changes in the subjective or objective factors

Question:

Changes in the subjective or objective factors

A.
never affect consumption function
B.
always cause downward shift in consumption function
C.
always cause upward shift in consumption function
D.
they cause upward or downward shifts in consumption function
Answer» d. they cause upward or downward shifts in consumption function

Note: The above multiple-choice question is for all general and Competitive Exams in India.

Read More Changes in the subjective or objective factors
» Mathematical Economics solved MCQs

The elasticity of demand for the demand curve of a firm under perfect competition is

Question:

The elasticity of demand for the demand curve of a firm under perfect competition is

A.
1
B.
0
C.
-1
D.
α
Answer» d. α

Note: The above multiple-choice question is for all general and Competitive Exams in India.

Read More The elasticity of demand for the demand curve of a firm under perfect competition is

If income effect works in the direction opposite to that of substitution effect, the good is not:

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Under monopolistic competition, super normal profit arise when

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