Economics MCQ Questions and Solutions with Explanations | Commerce

A. 1951

B. 1991

C. 1976

D. 1997

A. Y = C + I + G + X

B. Y = C + I + G - X + M

C. Y = C + I + G + (X - M)

D. Y = C + I - G + X - M

A. AR = AC

B. MR = MC

C. AR = MC

D. None of these

A. $$MR = AR\left( {1 - \frac{1}{e}} \right)$$

B. $$AR = MR\left( {\frac{{e - 1}}{e}} \right)$$

C. $$MR = AR\left( {\frac{1}{{e - 1}}} \right)$$

D. $$AR = \left( {\frac{{MR}}{e}} \right)$$

A. how much a consumer can spend on X plus Y goods

B. higher order preference-combinations on the upper most segments

C. combinations of two goods at different points about which a consumer is neutral

D. more is consumed at lower prices

A. Earn zero economic profits

B. Produce a level of output where short-run marginal cost is equal to the short-run average total cost

C. Produce a level of output where long-run marginal cost is equal to long-run average cost

D. All of the above

A. Unit elasticity

B. Less than unit elasticity

C. Perfectly elastic

D. Perfectly inelastic

A. substitute goods

B. abnormal goods

C. inferior goods

D. None of the above

A. consumer maximises his total pleasure, when satisfaction gained from marginal units of all commodities is the same

B. consumers gain satisfaction only when $$\frac{{{P_x}}}{{{P_y}}} = \frac{{M{U_x}}}{{M{U_y}}}$$

C. when more units are consumed, marginal utility diminishes

D. All of the above

A. bearing uncertainty

B. bearing risks

C. parting with time preference of consumption

D. avoiding and absorbing non-insurable risks and uncertainties