Economics MCQ Questions and Solutions with Explanations | Commerce

A. Break-even point

B. AR > AC

C. AR < AC

D. All of these

A. Export and Import

B. Public revenue and expenditure

C. Issue of currency

D. Control of population

A. the price is greater than the marginal cost

B. the price is greater than the marginal benefit

C. the price is greater than the average revenue

D. the price is greater than the marginal revenue

A. There exists an inverse relationship between demand for commodity and its price in case of complementary goods

B. There exists direct relationship between demand for commodity and its price in case of substitute goods

C. Both A and B

D. None of the above

A. Marginal revenue is greater than marginal cost

B. Marginal cost and marginal revenue both are equal

C. Marginal cost is greater than marginal revenue

D. Marginal revenue is greater than average revenue

A. Affordable combination of goods

B. The relative price of one good to another

C. Consumption possibilities that a consumer faces at different price and income

D. Different combination of two goods among which the consumer is indifferent

A. Positive

B. Negative

C. Zero

D. None of these

A. ATC is falling

B. AVC is rising

C. AVC is falling

D. ATR is rising

A. graphical presentation of law of demand

B. slopes downward

C. explain the relation between price and demand

D. All of the above

A. equals the demand curve

B. is parallel with the demand curve

C. lies below and converges with the demand curve

D. lies below and diverges from the demand curve