Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Bachelor of Arts in Economics (BA Economics)

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

» Micro economics 2 solved MCQs /
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.

greater than average total cost

B.

less than average total cost

C.

greater than average variable cost

D.

less than average variable cost

Answer» d. less than average variable cost

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

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 Read More »

» Micro economics 2 solved MCQs

If price is equal to average cost, in the short-run, the competitivefirm can earn

» Micro economics 2 solved MCQs /
Question:

If price is equal to average cost, in the short-run, the competitivefirm can earn

A.

Only normal profit

B.

Super normal profit

C.

Loss

D.

All of the above

Answer» a. Only normal profit

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

If price is equal to average cost, in the short-run, the competitivefirm can earn Read More »

» Micro economics 2 solved MCQs

Which method is used by Hicks to eliminate the income effect when price of aproduct is changed

» Micro Economics 1 solved MCQs /
Question:

Which method is used by Hicks to eliminate the income effect when price of aproduct is changed

A.

compensating variation in income

B.

the cost difference

C.

the over compensation effect

D.

substituting variation in price

Answer» a. compensating variation in income

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

Which method is used by Hicks to eliminate the income effect when price of aproduct is changed Read More »

» Micro Economics 1 solved MCQs

Factors of production are:

» Micro economics 2 solved MCQs /
Question:

Factors of production are:

A.

the coefficients in a production function

B.

the characteristics of a market that determine how much is produced

C.

the inputs used to produce goods and services

D.

the outputs from a production function

Answer» c. the inputs used to produce goods and services

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

Factors of production are: Read More »

» Micro economics 2 solved MCQs

Given the consumption function C = a + bY, where ‘a’, the intercept, represents_____

» Mathematical Economics solved MCQs /
Question:

Given the consumption function C = a + bY, where ‘a’, the intercept, represents_____

A.

Income

B.

autonomous consumption

C.

Demand

D.

Saving

Answer» b. autonomous consumption

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

Given the consumption function C = a + bY, where ‘a’, the intercept, represents_____ Read More »

» Mathematical Economics solved MCQs