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Economics MCQ Questions and Solutions with Explanations | Commerce

Economics MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Economics MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-1 section-15

Each section contains 100 MCQs on Economics .
1
When the demand curve is a rectangular hyperbola, it represents
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Answer & Solution
Answer: Option A
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2
Which of the following curve is not of U shape?
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Answer: Option C
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3
If carrots and a good Y are substitutes, the relationship between the price of good Y and the quantity demand of carrots will be shown by a curve that will
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Answer: Option A
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4
Marginal cost is equal to marginal revenue, average cost is equal to average revenue, average revenue is equal to marginal revenue and average cost is equal to marginal cost. This is the condition of
1. long period equilibrium for a firm under monopoly
2. short period equilibrium for a firm under oligopoly
3. long period equilibrium
4. long period equilibrium for a firm under perfect competitions
Select the correct answer
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Answer: Option B
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5
If the demand is absolutely/perfectly inelastic, then the demand for the good increases by 15% in the price
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Answer: Option D
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6
In economics, 'the central economic problem' means that:
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Answer: Option D
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7
Which one of the following is a part of short term loan?
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Answer: Option B
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8
Maximization of firm's growth rate subject to managerial and financial constraints' as one of the important alternative objectives of especially large business corporation was pleaded by:
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Answer: Option B
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9
With reference to nominal wages, which of the following statement is/are correct?
1. It is received in money form
2. It is not received in money form
Select the correct answer
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Answer: Option D
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10
In the linearly homogeneous Cobb-Douglas production function with two inputs, the elasticity of substitution between the inputs is
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Answer: Option C
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