Economics MCQ Questions and Solutions with Explanations | Commerce

A. He is an innovator

B. All his risks are insurable

C. The uncertainity is reduced

D. Most of his decisions are non-routine

A. Fixed cost + variable cost

B. Average cost + marginal cost

C. Raw material cost + labour cost

D. Transportation expense + installation cost

A. Propensity to consume

B. The choice of technology

C. Selection of projects

D. All of the above

A. Differentiated pricing

B. Promotional pricing

C. Geographical pricing

D. Price discounts and allowances

A. law of diminishing marginal utility

B. law of equi-marginal utility

C. law of proportions

D. All of the above

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

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

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

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

A. $$\frac{{{\text{Value of X}}}}{{{\text{Value of Y}}}} = \frac{{{\text{Value of Y}}}}{{{\text{Value of Z}}}} = \frac{{{\text{Value of Z}}}}{{{\text{Value of X}}}}$$

B. $$\frac{{{\text{MU of X}}}}{{{\text{Value of X}}}} = \frac{{{\text{MU of Y}}}}{{{\text{Value of Y}}}} = \frac{{{\text{MU of good Z}}}}{{{\text{Value of Z}}}}$$

C. Value of X = Value of Y = Value of Z

D. MU of X = MU of Y = MU of Z

A. AR = MR

B. AR > MR

C. AR < MR

D. TR = TC

A. X and Y will be substitute goods

B. X and Y will be complementary goods

C. X and Y will be independent objects/goods

D. None of the above

A. Leasing for a prescribed period of time, the right to use firm's successful business model and brand

B. Selling out a successful business model and brand

C. Hiring a firm's successful business model and brand

D. None of the above