Economics MCQ Questions and Solutions with Explanations | Commerce

The law of diminishing returns refers to an eventual fall in

Indicate the most popular route of privatisation adopte by the Government of India in recent decades.

Under monopoly, the supply curve is absent because

For a very large population the ratio between SE_x and σ is 8:40. The Sample size n will be

If marginal utility is zero then

Indifference curve can be 'L' shaped

In the very short run, plays a dominant role in price determination

The demand curve, when the demand is perfectly elastic, is

Marginal cost is

Consider the following statements.
1. One way the government can induce a monopolist to expand his output is by imposing a price ceiling that make the monopolist lower his price.
2. MC = MR = AC = AR shows the equilibrium position of the competitive firm.
3. One way the government can induce a monopolist to expand his output by imposing a price floor that makes the monopolist raise his price.
4. One way the government can induce a monopolist to expand his output by imposing a specific tax on the monopolist output.
Which of the statement(s) given above is/are correct?