Economics MCQ Questions and Solutions with Explanations | Commerce

A. less than the marginal productivity of labour

B. more than the marginal productivity of labour

C. equal to the marginal productivity of labour

D. equal to the wages set by the trade unions

A. $$\frac{{M{U_x}}}{{M{U_y}}} > \frac{{{P_x}}}{{{P_y}}}$$

B. $$\frac{{M{U_x}}}{{M{U_y}}} < \frac{{{P_x}}}{{{P_y}}}$$

C. $$\frac{{M{U_x}}}{{M{U_y}}} = \frac{{{P_x}}}{{{P_y}}}$$

D. None of these

A. Wilingness to purchase

B. Consent to purchase

C. Ability to pay

D. Willingness to buy on the basis of sufficient purchasing power and consent

A. low cross elasticity of demand

B. zero cross elasticity of demand

C. infinite cross elasticity of demand

D. unit cross elasticity of demand equal to one

A. Only 1

B. Both 1 and 3

C. Both 2 and 3

D. All of the above

A. That would prevail under perfect competition

B. Between that which would prevail under perfect competition, and that which a monopolistic competitor would choose in the same industry

C. Between that which would prevail under perfect competition, and that which a monopolist would choose in the same industry

D. Equal to that a monopolist would choose in the same industry

A. a-3, b-2, c-1, d-4

B. a-2, b-3, c-4, d-1

C. a-3, b-4, c-1, d-2

D. a-4, b-1, c-2, d-3

A. Prof. J. K. Mehta

B. Dr. Manmohan Singh

C. Prof. Amartya Sen

D. Dr. Pranab Mukherjee

A. Samuelson

B. Keynes

C. Bernard Mandeville

D. Pigou

A. marginal product is declining but non-negative

B. average product is negative

C. average product is increasing

D. average product is positive and marginal product is increasing