| 2751 |
If a consumer's income rises while both prices stay the same, the budget line: |
Economics/Business Economics
Consumer’s budget and optimal choice |
Easy |
| 2752 |
A consumer has ₹100. Good 1 costs ₹5 and good 2 costs ₹10. What is the maximum quantity of good 1 she can buy? |
Economics/Business Economics
Consumer’s budget and optimal choice |
Medium |
| 2753 |
At the consumer's optimum bundle in the indifference curve approach: |
Economics/Business Economics
Consumer’s budget and optimal choice |
Medium |
| 2754 |
Income is ₹120, p₁ = ₹4 and p₂ = ₹6. If p₁ falls to ₹3, which bundle (x₁, x₂) was outside the budget set befo… |
Economics/Business Economics
Consumer’s budget and optimal choice |
Hard |
| 2755 |
A movement along a demand curve is caused by a change in: |
Economics/Business Economics
Demand |
Easy |
| 2756 |
Tea and coffee are generally treated as: |
Economics/Business Economics
Demand |
Easy |
| 2757 |
If the price of petrol rises sharply, the demand curve for petrol cars is likely to: |
Economics/Business Economics
Demand |
Medium |
| 2758 |
When a household's income rises, its demand for an inferior good: |
Economics/Business Economics
Demand |
Medium |
| 2759 |
A market has two consumers with demand q₁ = 10 − p and q₂ = 15 − 2p. What is market demand at p = ₹4? |
Economics/Business Economics
Demand |
Hard |
| 2760 |
If demand for a good is perfectly inelastic, its demand curve is: |
Economics/Business Economics
Price elasticity of demand |
Easy |
| 2761 |
Demand for necessities such as salt is generally: |
Economics/Business Economics
Price elasticity of demand |
Easy |
| 2762 |
Price of a good rises from ₹10 to ₹12 and quantity demanded falls from 50 to 40 units. What is the price elas… |
Economics/Business Economics
Price elasticity of demand |
Medium |
| 2763 |
The price of a good falls but total expenditure on it remains unchanged. Demand is: |
Economics/Business Economics
Price elasticity of demand |
Medium |
| 2764 |
The demand function is q = 20 − 2p. What is the price elasticity of demand (absolute value) at p = ₹6? |
Economics/Business Economics
Price elasticity of demand |
Hard |
| 2765 |
In the long run, a firm can: |
Economics/Business Economics
Production function |
Easy |
| 2766 |
Total product of labour is at its maximum when marginal product of labour is: |
Economics/Business Economics
Production function |
Easy |
| 2767 |
TP of labour for 1, 2, 3 and 4 workers is 10, 24, 36 and 44 units. What is the average product of labour when… |
Economics/Business Economics
Production function |
Medium |
| 2768 |
When marginal product of labour is greater than average product, average product is: |
Economics/Business Economics
Production function |
Medium |
| 2769 |
A firm doubles all its inputs and its output rises by 150%. This shows: |
Economics/Business Economics
Production function |
Hard |
| 2770 |
Which of the following is a fixed cost for a firm in the short run? |
Economics/Business Economics
Cost concepts |
Easy |
| 2771 |
The average fixed cost curve has the shape of a: |
Economics/Business Economics
Cost concepts |
Easy |
| 2772 |
A firm's TC at outputs 0, 1, 2 and 3 is ₹60, ₹90, ₹110 and ₹140. What is AVC at 2 units of output? |
Economics/Business Economics
Cost concepts |
Medium |
| 2773 |
The marginal cost curve cuts the average cost curve at: |
Economics/Business Economics
Cost concepts |
Medium |
| 2774 |
Average cost of producing 10 units is ₹20 and of producing 11 units is ₹21. What is the marginal cost of the … |
Economics/Business Economics
Cost concepts |
Hard |
| 2775 |
Average revenue of a firm is always equal to: |
Economics/Business Economics
Revenue concepts |
Easy |
| 2776 |
For a firm in perfect competition, the total revenue curve is: |
Economics/Business Economics
Revenue concepts |
Easy |
| 2777 |
A firm can sell 5 units at ₹20 each or 6 units at ₹19 each. What is the marginal revenue of the 6th unit? |
Economics/Business Economics
Revenue concepts |
Medium |
| 2778 |
When marginal revenue is zero, total revenue is: |
Economics/Business Economics
Revenue concepts |
Medium |
| 2779 |
A firm's average revenue is AR = 50 − 2Q. What is marginal revenue at Q = 10? |
Economics/Business Economics
Revenue concepts |
Hard |
| 2780 |
The conditions for a producer's equilibrium under the MR–MC approach are: |
Economics/Business Economics
Producer’s equilibrium |
Easy |
| 2781 |
At its current output a firm finds that MR is greater than MC. To raise profit it should: |
Economics/Business Economics
Producer’s equilibrium |
Easy |
| 2782 |
A price-taking firm sells at ₹10. MC of units 1 to 5 is ₹10, ₹7, ₹6, ₹10 and ₹14. What is its equilibrium out… |
Economics/Business Economics
Producer’s equilibrium |
Medium |
| 2783 |
Why is MR = MC alone not enough for producer's equilibrium? |
Economics/Business Economics
Producer’s equilibrium |
Medium |
| 2784 |
Price is ₹10 per unit. TC at outputs 0 to 4 is ₹10, ₹16, ₹20, ₹25 and ₹37. Find the profit-maximising output … |
Economics/Business Economics
Producer’s equilibrium |
Hard |
| 2785 |
A firm in perfect competition is called a price taker because: |
Economics/Business Economics
Features of perfect competition |
Easy |
| 2786 |
The demand curve facing an individual firm under perfect competition is: |
Economics/Business Economics
Features of perfect competition |
Easy |
| 2787 |
Which feature of perfect competition ensures that firms earn only normal profit in the long run? |
Economics/Business Economics
Features of perfect competition |
Medium |
| 2788 |
Why can a firm under perfect competition not sell at a price above the market price? |
Economics/Business Economics
Features of perfect competition |
Medium |
| 2789 |
A firm in a supposedly perfectly competitive market starts advertising its brand of rice as superior to other… |
Economics/Business Economics
Features of perfect competition |
Hard |
| 2790 |
In the short run, a competitive firm's shutdown point occurs where price equals: |
Economics/Business Economics
Profit maximisation |
Easy |
| 2791 |
The break-even point of a competitive firm is where price equals: |
Economics/Business Economics
Profit maximisation |
Easy |
| 2792 |
A competitive firm sells 100 units at ₹12 each, and its average cost at this output is ₹10. What is its super… |
Economics/Business Economics
Profit maximisation |
Medium |
| 2793 |
In the short run, market price is ₹8, minimum AVC is ₹6 and minimum AC is ₹10. The firm should: |
Economics/Business Economics
Profit maximisation |
Medium |
| 2794 |
At P = ₹20 a competitive firm's best output (P = MC) is 50 units, where AC = ₹24 and AVC = ₹18. What should i… |
Economics/Business Economics
Profit maximisation |
Hard |
| 2795 |
An improvement in production technology will: |
Economics/Business Economics
Supply |
Easy |
| 2796 |
The government imposes a unit tax on a good. Its supply curve will: |
Economics/Business Economics
Supply |
Easy |
| 2797 |
When price rises from ₹10 to ₹12, quantity supplied rises from 100 to 130 units. What is the price elasticity… |
Economics/Business Economics
Supply |
Medium |
| 2798 |
A straight-line supply curve passing through the origin has price elasticity of supply equal to: |
Economics/Business Economics
Supply |
Medium |
| 2799 |
Firm 1 supplies q = p − 5 for p ≥ 5 (zero otherwise) and firm 2 supplies q = p − 10 for p ≥ 10 (zero otherwis… |
Economics/Business Economics
Supply |
Hard |
| 2800 |
At a price above the equilibrium price there is: |
Economics/Business Economics
Market equilibrium |
Easy |