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MCQs

Total Questions : 874 | Page 26 of 88 pages
Question 251. Economies of scale are of two kinds
  1.    Temporary and permanent
  2.    Internal and external
  3.    Managerial and industrial
  4.    Natural and artificial
 Discuss Question
Answer: Option B. -> Internal and external
Question 252. Identify the economist who had little formal education and started working in the money market at an early age of fourteen.
  1.    David Ricardo
  2.    Adam Smith
  3.    V.F.D. Pareto
  4.    A.A. Cournot
 Discuss Question
Answer: Option A. -> David Ricardo
Question 253. In which form, the largest percentage of national income is earned?
  1.    Interest income
  2.    Proprietor's income
  3.    Employee' wages
  4.    Rental income
 Discuss Question
Answer: Option C. -> Employee' wages
Question 254. Which statement is true
  1.    ATC + AVC = AFC
  2.    ATC + MC = AFC
  3.    ATC + AFC = AVC
  4.    AFC + AVC = ATC
 Discuss Question
Answer: Option D. -> AFC + AVC = ATC
Question 255. Law of return applies to firms working in
  1.    Perfect competition
  2.    Monopoly
  3.    Small firm
  4.    All kinds of market situations
 Discuss Question
Answer: Option D. -> All kinds of market situations
Question 256. Which is NOT a cause of shift in cost curves of a firm?
  1.    Excise tax
  2.    Prices of inputs
  3.    Increase in productivity
  4.    Price of product
 Discuss Question
Answer: Option D. -> Price of product
Question 257. Who first raised the fear of a world food shortage?
  1.    David Ricardo
  2.    T.R.Malthus
  3.    J.S.Mill
  4.    J.B.Say
 Discuss Question
Answer: Option B. -> T.R.Malthus
Question 258. The minimum wage is an example of
  1.    Price floor
  2.    Price ceiling
  3.    Equilibrium wage
  4.    Efficiency of labour
 Discuss Question
Answer: Option A. -> Price floor
Question 259. During short period, diminishing returns may follow because
  1.    Quantity of labour is fixed
  2.    Quantity of output is fixed
  3.    Quantity of capital is fixed
  4.    Quantity of any one factor is fixed
 Discuss Question
Answer: Option D. -> Quantity of any one factor is fixed
Question 260. MC is given by
  1.    Slope of TFC
  2.    Slope of TC
  3.    Slope of AC
  4.    None of the above
 Discuss Question
Answer: Option B. -> Slope of TC

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