Economics MCQ Questions and Solutions with Explanations | Commerce

A. Walras

B. A. C. Pigou

C. Alfred Marshall

D. David Ricardo

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

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

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

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

A. takes place on the offer curve of individual 1

B. takes place on the offer curve of individual 2

C. takes place at the intersection point of the two offer curves

D. is indeterminate

A. BEP is the point at which the total revenue is equal to the total cost

B. Contribution margin = sales × p/v ratio

C. AT BEP, the firm yields neither profit nor loss

D. All of the above

A. Education

B. Insurance

C. Energy

D. Transportation

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

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

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

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

A. 1 and 4

B. 1 only

C. 4 only

D. 1 and 2

A. When the total utility is maximum, marginal utility is zero

B. When total utility decreases, marginal utility remains constant

C. Total utility and marginal utility are not inter related

D. All of the above

A. The Ratio ratio of marginal utilities of the two goods is equal to the ratio of their respective goods are equal

B. The Ratio ratio of the marginal rate of utilities and prices of the respective goods are equal

C. The marginal rate of substitution is equal to the ratio of the prices of the two goods

D. The marginal rate of substitution is decreasing

A. Natural

B. Financial

C. Social

D. Economic