» Micro Economics 1 solved MCQs

If labour is the only variable resource and its marginal physical product falls as moreworkers are hired:

Byadmin May 4, 2021

Question:

If labour is the only variable resource and its marginal physical product falls as moreworkers are hired:

The law of diminishing marginal returns is at work.

Marginal cost is rising.

Average cost may still be declining.

Average physical product may still be rising.

Answer» a. The law of diminishing marginal returns is at work.

Note:

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

» Micro Economics 1 solved MCQs

Saturation point is the point where:

Question:

Saturation point is the point where:

A.
TU = 0
B.
MU = 0
C.
MU is +ve
D.
TU = 1
Answer» b. MU = 0

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

Read More Saturation point is the point where:
» Mathematics for Economic Analysis 1 solved MCQs

Given the supply function qS = 12p – 200 and its inverse function p = 1/12 qS + 50/3, p in theinverse function which is interpreted as the minimum price that sellers are willing to accept for the quantity qS is called

Question:

Given the supply function qS = 12p – 200 and its inverse function p = 1/12 qS + 50/3, p in theinverse function which is interpreted as the minimum price that sellers are willing to accept for the quantity qS is called

A.
supply price
B.
demand price
C.
equilibrium price
D.
reserved price
Answer» a. supply price

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

Read More Given the supply function qS = 12p – 200 and its inverse function p = 1/12 qS + 50/3, p in theinverse function which is interpreted as the minimum price that sellers are willing to accept for the quantity qS is called
» Quantitative Methods for Economic Analysis 1 solved MCQs

In regression, the variable being predicted is called the

Question:

In regression, the variable being predicted is called the

A.
criterion or y variable
B.
predictor variable or x
C.
x
D.
explanatory variable
Answer» a. criterion or y variable

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

Read More In regression, the variable being predicted is called the
» Quantitative Methods for Economic Analysis 2 solved MCQs

Vital rates customarily expressed as :

Question:

Vital rates customarily expressed as :

A.
percentages
B.
per thousand
C.
per million
D.
per trillion
Answer» d. per trillion

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

Read More Vital rates customarily expressed as :
» Modern Banking and Insurance solved MCQs

Fire Insurance Company opened in London by

Question:

Fire Insurance Company opened in London by

A.
nicholas borban
B.
crowther
C.
shyer
D.
kevin
Answer» a. nicholas borban

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

Read More Fire Insurance Company opened in London by
» Macro Economics 1 solved MCQs

Wages and prices do not adjust quickly to restore general equilibrium is a property of

Question:

Wages and prices do not adjust quickly to restore general equilibrium is a property of

A.
classical economics
B.
keynesian economics
C.
monetary economics
D.
supply side economics
Answer» b. keynesian economics

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

Read More Wages and prices do not adjust quickly to restore general equilibrium is a property of

If labour is the only variable resource and its marginal physical product falls as moreworkers are hired:

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Given the supply function qS = 12p – 200 and its inverse function p = 1/12 qS + 50/3, p in theinverse function which is interpreted as the minimum price that sellers are willing to accept for the quantity qS is called

In regression, the variable being predicted is called the

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