Economics MCQ Questions and Solutions with Explanations | Commerce

A. operating curves

B. fixed curves

C. variable curves

D. planning curves

A. market power

B. price

C. price marginal cost

D. None of the above

A. 1/2

B. 4

C. 6

D. 8

A. per-unit production tax

B. per-unit sales tax

C. profit tax

D. price ceiling below the existing equilibrium price

A. Both 1 and 2

B. Both 1 and 2

C. Both 2 and 3

D. All of the above

A. constant returns to scale

B. increasing returns to scale

C. decreasing returns to scale

D. None of the above

A. Population theory

B. Cost theory

C. Rent theory

D. Profit theory

A. At the lowest point of the average variable cost curve

B. At the minimum point of the marginal cost curve

C. At the maximum point of the marginal cost curve

D. At the minimum point of the average fixed cost curve

A. buyer should make payment well in time

B. buyer should be beware of all aspects of buying

C. buyer will be responsible for the whole payment

D. buyer will not be responsible at any cost

A. competition is pure

B. competition is monopolistic

C. competition is imperfect

D. competition is absent