Economics MCQ Questions and Solutions with Explanations | Commerce

A. marginal productivities

B. average productivities

C. total productivities

D. ratio of marginal productivities to average productivities

A. Distribution in individuals

B. Distribution in the means of production

C. Distribution in the society

D. None of the above

A. (R) is appropriate reason of (A)

B. (R) is not appropriate reason of (A)

C. (A) and (R) are not related with each other

D. (A) is independent of (R)

A. advertise its product on television

B. have difficult time obtaining information about the market price

C. settle for whatever price is offered

D. have an easy time keeping other firms out of the market

A. Food imports check the rent from rising

B. rent accrues to good lands only

C. rent is a monopoly receipt also

D. rent is excess earning over the transfer earnings

A. $${e_a} = \frac{{{Q_1} - {Q_2}}}{{{Q_1} + {Q_2}}} \div \frac{{{P_1} - {P_2}}}{{{P_1} + {P_2}}}$$

B. $${e_a} = \frac{{{Q_1} + {Q_2}}}{{{Q_1} - {Q_2}}} \div \frac{{{P_1} + {P_2}}}{{{P_1} - {P_2}}}$$

C. $${e_a} = \frac{{{Q_1} - {Q_2}}}{{{P_1} - {P_2}}} \div \frac{{{Q_1} - {Q_2}}}{{{P_1} + {P_2}}}$$

D. None of these

A. horizontal

B. exponential

C. rectangular hyperbolic

D. L-shaped

A. graphical, down

B. down, graphical

C. graphical, up

D. schedule, up

A. Short-run

B. Long-run

C. Very long run

D. All of the above

A. at the minimum point of the long-run average cost curve

B. in the declining segment of the long-run average cost curve

C. in the rising segment of the long-run average cost curve

D. when the price is equal to marginal cost