Bachelor of Arts in Economics (BA Economics)

In any equation (or function) involving two variables, such as y = 2x + 1, the variable that appearson the right-hand side of the equation is by convention called

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Question:

In any equation (or function) involving two variables, such as y = 2x + 1, the variable that appearson the right-hand side of the equation is by convention called

A.

dependent variable

B.

independent variable

C.

endogenous variable

D.

explained variable

Answer» b. independent variable

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

A monopoly is most likely to emerge and be sustained when:

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Question:

A monopoly is most likely to emerge and be sustained when:

A.

output demand is relatively elastic.

B.

firms have u-shaped, average-total-cost curves.

C.

fixed capital costs are small relative to total costs.

D.

economies of scale are large relative to market demand.

Answer» d. economies of scale are large relative to market demand.

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

The large number of firms producing the same commodity ensure that theindividual firm has no control over

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Question:

The large number of firms producing the same commodity ensure that theindividual firm has no control over

A.

Price of the commodity

B.

The quantity of the commodity

C.

Both of the above

D.

None of the above

Answer» c. Both of the above

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

How is the arithmetic mean related to the variance

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Question:

How is the arithmetic mean related to the variance

A.

variance has the square of the mean in its formula

B.

variance is not related to the mean, but standard deviation is

C.

variance measures the variability of values about the mean

D.

they are not related. one is a measure of central tendency, and the other is a measure of

Answer» c. variance measures the variability of values about the mean

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

Profits are maximized when the firm

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Question:

Profits are maximized when the firm

A.

captures the largest market share in its market

B.

produces at an output level where marginal revenue exceeds marginal cost

C.

produces at the output level where marginal revenue equals marginal cost

D.

produces at the output level where total revenue is maximized

Answer» c. produces at the output level where marginal revenue equals marginal cost

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