Description : Long run supply curve of a increasing cost industry is (a) Horizontal line overlapping X axis ; (b) Upward sloping line; (c) Downward sloping line ; (d) Vertical line
Last Answer : (b) Upward sloping line;
Description : A perfectly elastic supply curve will be (a) Parallel to Y axis or a vertical line ; (b) Parallel to X axis; (c) U shaped ; (d) Downward sloping
Last Answer : the aggregate demand curve
Description : A perfect inelastic supply curve will be (a) Parallel to Y axis or a vertical line ; (b) Parallel to X axis ; (c) U shaped; (d) Downward sloping
Last Answer : (a) Parallel to Y axis or a vertical line ;
Description : Long run supply curve of a constant cost industry is (a) Horizontal line at a price that is equal to the long run minimum average cost of production; (b) Horizontal line overlapping X axis ; (c) Vertical line at mid of X axis ; (d) Vertical line overlapping Y axis
Last Answer : (a) Horizontal line at a price that is equal to the long run minimum average cost of production;
Description : If a firms cost of raw material decreases then (a) Marginal cost curve will shift downward ; (b) Marginal cost curve will shift upward (c) Market price will go down ; (d) Market price will go up
Last Answer : (a) Marginal cost curve will shift downward ;
Description : If a firms cost of raw material increases then (a) Market price of the final product will also increase (b) Equilibrium level of quantity also increases ; (c) Marginal cost curve will shift upward (d) Marginal cost curve will shift downward
Last Answer : ; (c) Marginal cost curve will shift upward
Description : Which of the following faces a downward sloping demand curve (a) Firm in a competitive market ; (b) Firm in a monopoly market ; (c) Both ; (d) None
Last Answer : (b) Firm in a monopoly market ;
Description : Average Fixed Cost Curve is - (1) Upward sloping (2) `U' shaped (3) 'V' shaped (4) Downward sloping
Last Answer : (4) Downward sloping Explanation: The Average Fixed Cost Curve graphically represents the relation between average fixed cost incurred by a firm in the short-run product of a good or service and the quantity produced. It is relatively high at small quantities of output.
Description : Average Fixed Cost Curve is (1) Upward sloping (2) ‘U’ shaped (3) ‘V’ shaped (4) Downward sloping
Last Answer : Downward sloping
Description : According to traditional approach the factor responsible for operation of downward slope of demand curve are (a) Change in number of consumers ; (b) Law of decreasing marginal utility (c) Alternative uses of goods ; (d) All the three
Last Answer : (d) All the three
Description : The demand curve for a Giffen good is (1) upward rising (2) downward falling (3) parallel to the quantity axis (4) parallel to the price axis
Last Answer : (1) upward rising Explanation: A Giffen good is a good whose consumption in-creases as its price increases. (For a normal good, as the price increases, consumption decreases.) Thus, the ... a price changes the income effect outweighs the substitution effect and this leads to perverse demand curve.
Last Answer : upward rising
Description : A supply curve parallel to X axis means the product supply is (a) Limited ; (b) Unlimited ; (c) Not available ; (d) None
Last Answer : ; (b) Unlimited ;
Description : Marginal cost curve is (a) Positively sloped ; (b) Negatively sloped ; (c) Parallel to X axis ; (d) Parallel to Y axis
Last Answer : (a) Positively sloped
Description : The adiabatic saturation curve for a vapour-gas mixture is (A) Straight line (B) Slightly concave upward (C) Slightly concave downward (D) None of these
Last Answer : (B) Slightly concave upward
Description : Economic growth is best depicted by (a) Outward shift in PPF ; (b) Upward movement in PPF ; (c) Inward movement in PPF (d) Downward movement in PPF
Last Answer : (a) Outward shift in PPF ;
Description : Supply curve passing through any point on Y axis(Price) will have elasticity (a) Less than 1 ; (b) More than 1 ; (c) Just One ; (d) Zero
Last Answer : (b) More than 1
Description : Which of the following statement is true (a) Monopolist are price takers ; (b) Monopoly firm earn abnormal profits; (c) A Monopoly firm faces straight demand line ; (d) Supply curve of a monopoly firm is positive sloped
Last Answer : (a) Monopolist are price takers ;
Description : A shift outward in supply curve will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing
Last Answer : (c) decreasing and quantity increasing ;
Description : If the loading on a pre-stressed rectangular beam, is uniformly distributed, the tendon to be provided should be. (A) Straight below centroidal axis (B) Parabolic with convexity downward (C) Parabolic with convexity upward (D) Straight above centroidal axis
Last Answer : Answer: Option B
Description : A simply supported rectangular beam is uniformly loaded and is prestressed. The tendon provided for prestressing should be (a) Straight, above centroidal axis (b) Straight, below centroidal axis (c) parabolic, with convexity upward (d) Parabolic, with convexity downward
Last Answer : (d) Parabolic, with convexity downward
Description : A supply curve passing through any point on X axis(quantity) will have elasticity (a) Less than 1 ; (b) More than 1 ; (c) Just one ; (d) Zero
Last Answer : (a) Less than 1 ;
Description : The dry-bulb temperature scale is read on a psychrometric chart along the: a. Left vertical axis b. Right vertical axis c. Saturation line and sloping downward to the right d. Top horizontal axis e. Horizontal axis on the bottom of the chart
Last Answer : ANSWER : E
Description : Demand curve of an Oligopoly firm is characterized by (a) Horizontal to X axis ; (b) Kink at the price ; (c) U shaped curve ; (d) A liner line
Last Answer : (b) Kink at the price ;
Description : For a monopoly firm the MR Curve (a) Overlaps AR curve ; (b) Is above the AR curve ; (c) Lies half way between AR curve and the Y axis ; (d) Is same as AR curve
Last Answer : (c) Lies half way between AR curve and the Y axis ;
Description : The demand curve facing a perfectly competitive firm is - (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic
Last Answer : (4) perfectly elastic Explanation: A perfectly competitive industry is comprised of a. large number of relatively small firms that sell identical products. Each perfectly competitive firm is so small ... at the going market price. This translates into a horizontal or perfectly elastic demand curve.
Description : The demand curve facing a perfectly competitive firm is (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic
Last Answer : perfectly elastic
Description : If the plane table is not horizontal in a direction at right angles to the alidade, the line of sight is parallel to the fiducial edge only for (A) Horizontal sights (B) Inclined sights upward (C) Inclined sight downward (D) None of these
Last Answer : (A) Horizontal sights
Description : TVC curve begins to………with the onset of increasing returns (a) Rise at an increasing rate ; (b) Rise at an decreasing rate; (c) Fall at an Increasing rate ; (d) Stabilize
Last Answer : (b) Rise at an decreasing rate;
Description : TVC curve begins to……….with the onset of diminishing returns (a) Rise at an Increasing rate ; (b) Rise at an decreasing rate; (c) Fall at an Increasing rate ; (d) Stabilize
Last Answer : (a) Rise at an Increasing rate ;
Description : When a firm enters the law of diminishing returns to scale (a) TVC curve begins to fall at an increasing rate (b) TVC curve begins to increase at an increasing rate (c) TVC curve begins to fall at an decreasing rate (d) TVC curve begins to increase at an decreasing rate
Last Answer : (a) TVC curve begins to fall at an increasing rate
Description : The negatively sloped part of long run cost curve of a firm is due to (a) Increase in production due to specialization and division of labour; (b) Diseconomies of scale ; (c) Diminishing returns to scale ; (d) Marginal utility theory
Last Answer : (a) Increase in production due to specialization and division of labour;
Description : The positively sloped part of long run cost curve of a firm is due to (a) Economies of scale ; (b) Diseconomies of scale; (c) Diminishing returns to scale ; (d) Marginal utility theory
Last Answer : (b) Diseconomies of scale;
Description : Which of these curve never touch X axis (a) AVC ; (b) AFC ; (c) TC ; (d) MC
Last Answer : (b) AFC ;
Description : A Monopoly‟s demand curve is (a) Same as its average revenue curve ; (b) Same as its supply curve; (c) Same as its cost curve ; (d) Same as that of the factor inputs
Last Answer : (a) Same as its average revenue curve ;
Description : Change in cost of production of the concerned goods causes (a) The demand curve to shift ; (b) The supply curve to shift ; (c) Increase in quantity demanded; (d) Decrease in quantity supplied
Last Answer : (b) The supply curve to shift ;
Description : In the long run price is governed by …………. (a) Cost of Production ; (b) Demand supply forces ; (c) Marginal utility ; (d) None
Last Answer : (a) Cost of Production ;
Description : The ideal level of operation for a pure monopoly firm is the level where (a) TR and STC curve are parallel to each other ; (b) TR = TC ; (c) TR = Total variable cost; (d) TR is less than STC
Last Answer : (a) TR and STC curve are parallel to each other ;
Description : An increase in temperature on the top fibre of a simply supported beam will cause (a) Downward deflection (b) Upward deflection (c) No deflection (d) Angular rotation about neutral axis
Last Answer : Upward deflection
Description : An exceptional demand curve is one that moves - (1) upward to the right (2) downward to the right (3) horizontally (4) vertically
Last Answer : (2) downward to the right Explanation: A demand curve that violates the law of demand is termed an exceptional demand curve. If a household expects the price of a commodity to increase, it may ... backward slope from the top right to down left. This curve is known as an exceptional demand curve.
Description : An exceptional demand curve is one that moves (1) upward to the right (2) downward to the right (3) horizontally (4) vertically
Last Answer : downward to the right
Description : An improvement in technology would shift (a) the demand curve inward ; (b) the demand curve outward ; (c) the supply curve inward (d) the supply curve outward
Last Answer : (d) the supply curve outward
Description : Under perfect market conditions the supply curve of a firm is represented by (a) MC curve ; (b) MR curve ; (c) AR curve ; (d) AC curve
Last Answer : (a) MC curve ;
Description : In a market economy equilibrium price is reached at (a) Point of interaction of aggregate demand and aggregate supply curve; (b) At the top of demand curve ; (c) Midpoint of demand curve ; (d) Midpoint of supply curve
Last Answer : (a) Point of interaction of aggregate demand and aggregate supply curve;
Description : Equilibrium state is achieved at (a) The peak point of supply curve ; (b) The bottom point of demand curve; (c) The inflection point of demand curve ; (d) The intersection of demand and supply curve
Last Answer : (d) The intersection of demand and supply curve
Description : The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers ... be the equilibrium price (a) `4 ; (b) `5 ; (c) `3 ; (d) `4.5
Last Answer : ; (c) `3 ;
Description : Which of these will have highly inelastic supply curve (a) Perishable goods ; (b) Consumer durables goods; (c) Items of elite class consumption ; (d) All the three
Last Answer : (a) Perishable goods ;
Description : Which of the following will have a relatively flat supply curve (a) Land ; (b) Labour ; (c) Capital ; (d) Raw material
Last Answer : (a) Land ;
Description : A positive sloped supply curve for a product represents (a) Supply will move with movement in the price in the opposite direction; (b) Supply will move with the movement in the price in the same direction; (c) Both ; (d) None
Last Answer : (b) Supply will move with the movement in the price in the same direction;
Description : Shift in supply curve is cause by (a) Change in citrus paribus conditions ; (b) Increase in price; (c) Decrease in price ; (d) Change in consumer income
Last Answer : (a) Change in citrus paribus conditions ;