Which of the following will have a relatively flat supply curve (a) Land ; (b) Labour ; (c) Capital ; (d) Raw material

Which of the following will have a relatively flat supply curve (a) Land ; (b) Labour ; (c) Capital ; (d) Raw material
by

1 Answer

Answer :

(a) Land ;
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Related questions

In the short run which of the following is fixed (a) Labour ; (b) Capital ; (c) Raw material ; (d) None

Description : In the short run which of the following is fixed (a) Labour ; (b) Capital ; (c) Raw material ; (d) None

Last Answer : (b) Capital ;

Which of the following is/ are an economic resource (a) Land ; (b) Capital ; (c) Labour ; (d) All the three

Description : Which of the following is/ are an economic resource (a) Land ; (b) Capital ; (c) Labour ; (d) All the three

Last Answer :  (d) All the three

Which of the following is/ are not an economic resource (a) Land ; (b) Capital ; (c) Labour ; (d) Air

Description : Which of the following is/ are not an economic resource (a) Land ; (b) Capital ; (c) Labour ; (d) Air

Last Answer : ; (d) Air

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

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 ;

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

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

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

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;

Backward bending supply curve is related to which of the following factors of production ? (a) Labour (b) Capital (c) Land(d) Entrepreneur

Description : Backward bending supply curve is related to which of the following factors of production ? (a) Labour (b) Capital (c) Land (d) Entrepreneur

Last Answer : (d) Entrepreneur

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

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 ;

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

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

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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

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 ;

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

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 ; 

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

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 ;

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

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;

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

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Last Answer : (d) The intersection of demand and supply curve

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 for the product under question. What will be the equilibrium price (a) `4 ; (b) `5 ; (c) `3 ; (d) `4.5

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 ;

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

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Last Answer : (a) Perishable goods ;

A supply curve parallel to X axis means the product supply is (a) Limited ; (b) Unlimited ; (c) Not available ; (d) None

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 ;

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

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Last Answer : (b) Supply will move with the movement in the price in the same direction; 

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

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Last Answer : (a) Change in citrus paribus conditions ;

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

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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

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

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

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Last Answer : (a) Parallel to Y axis or a vertical line ;

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

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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

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Last Answer : (a) Less than 1 ;

A supply curve passing through the origin will have elasticity (a) Less than 1 ; (b) More than 1 ; (c) Just One ; (d) Zero

Description : A supply curve passing through the origin will have elasticity (a) Less than 1 ; (b) More than 1 ; (c) Just One ; (d) Zero 

Last Answer : (c) Just One ; 

Equilibrium state is achieved at ………………… (a) The peak point of supply curve ; (b) The bottom point of demand curve (c) The inflation point of demand curve ; (d) The intersection of demand and supply curve

Description : Equilibrium state is achieved at ………………… (a) The peak point of supply curve ; (b) The bottom point of demand curve (c) The inflation point of demand curve ; (d) The intersection of demand and supply curve

Last Answer : (d) The intersection of demand and supply curve

Long run supply curve of a decreasing cost industry is (a) Downward sloping curve ; (b) Upward sloping curve; (c) Straight line parallel to X axis ; (d) Straight line parallel to y axis

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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

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Last Answer : (b) Upward sloping line; 

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

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; 

Any point beyond PPF curve can be attained by (a) Increasing supply of factor inputs ; (b) Technological innovation ; (c) Both ; (d) None

Description : Any point beyond PPF curve can be attained by (a) Increasing supply of factor inputs ; (b) Technological innovation ; (c) Both ; (d) None

Last Answer : ; (c) Both ;

Higher PPC curve indicates (a) More production of both the things with increase in technology or factor inputs supply; (b) More production of one at the expense of other; (c) More production of one items at the expense of other with increase in technology or factor input supply ; (d) Less than full employment situation

Description : Higher PPC curve indicates (a) More production of both the things with increase in technology or factor inputs supply; (b) More production of one at the expense of other; (c) More production of ... of other with increase in technology or factor input supply ; (d) Less than full employment situation

Last Answer : (a) More production of both the things with increase in technology or factor inputs supply; 

Which of the following statement is true? (a) Value added = total sales + closing stock of finished goods – opening stock of finished goods – total expenditure on raw material – intermediate goods (b) Value added = total sales + closing stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods (c) Value added = total sales + closing stock of finished goods and semi-finished goods-opening stock of finished goods and semi finished goods-total expenditure on raw material (d) Value added = total sales + closing stock of finished goods and semi finished goods – opening stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods.

Description : Which of the following statement is true? (a) Value added = total sales + closing stock of finished goods - opening stock of finished goods - total expenditure on raw material - intermediate ... stock of finished goods and semi finished goods - total expenditure on raw material - intermediate goods.

Last Answer : (d) Value added = total sales + closing stock of finished goods and semi finished goods – opening stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods.

Backward bending supply curve belongs to which market? (1) Capital (2) Labour (3) Money (4) Inventories

Description : Backward bending supply curve belongs to which market? (1) Capital (2) Labour (3) Money (4) Inventories

Last Answer : (2) Labour Explanation: In economics, backward bending supply curve is related to labour. Also known as backward-bending supply curve of labour, This curve models a situation where workers choose to ... It shows how the change in real wage rates affects the number of hours worked by employees.

Backward bending supply curve belongs to which market? (1) Capital (2) Labour (3) Money (4) Inventories

Description : Backward bending supply curve belongs to which market? (1) Capital (2) Labour (3) Money (4) Inventories

Last Answer : Labour

Direct costs component of the fixed capital consists of (A) Contingencies (B) Onsite and offsite costs (C) Labour costs (D) Raw material costs

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If the consumption of a product can be postponed for the time being (a) The demand for the product will be inelastic (b) The demand for the product will be relatively elastic (c) The demand for the product will be perfectly elastic (d) The demand for the product will be perfectly inelastic

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Last Answer : (b) The demand for the product will be relatively elastic 

Labour cost consists of (a) All people officially employed or unemployed (b) All people over the age of 18 but less than 58 years of age (c) All youth having passed matriculate examination ; (d) All the three

Description : Labour cost consists of (a) All people officially employed or unemployed (b) All people over the age of 18 but less than 58 years of age (c) All youth having passed matriculate examination ; (d) All the three

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In economics, in the long run all the cost…………. (a) Are fixed ; (b) Are variable ; (c) Except labour are variable ; (d) Are non controllable

Description : In economics, in the long run all the cost…………. (a) Are fixed ; (b) Are variable ; (c) Except labour are variable ; (d) Are non controllable

Last Answer :  (b) Are variable ;

Quasi-Rent arises from (a) Land (b) Labour (c) Capital (d) Factors whose supply in the short run is inelastic.

Description : Quasi-Rent arises from (a) Land (b) Labour (c) Capital (d) Factors whose supply in the short run is inelastic.

Last Answer : (c) Capital

The most important reason for the thiazides being only moderately efficacious diuretics is: A. About 9/10th of glomerular filtrate is reabsorbed proximal to their site of action B. Compensatory increase in reabsorption at sites not affected by these drugs C. They decrease glomerular filtration D. They have relatively flat dose response curve

Description : The most important reason for the thiazides being only moderately efficacious diuretics is: A. About 9/10th of glomerular filtrate is reabsorbed proximal to their site of action B. Compensatory ... these drugs C. They decrease glomerular filtration D. They have relatively flat dose response curve

Last Answer : A. About 9/10th of glomerular filtrate is reabsorbed proximal to their site of action

Consider the following statements and identify the right ones. i. COR is relatively low in labour intensive sectors. ii. COR will be high in capital intensive sectors iii. Both iv. None

Description : Consider the following statements and identify the right ones. i. COR is relatively low in labour intensive sectors. ii. COR will be high in capital intensive sectors iii. Both iv. None

Last Answer : iii. Both

Consider the following statements and identify the right ones. A. COR is relatively low in labour intensive sectors. B. COR will be high in capital intensive sectors C. Both D. None

Description : Consider the following statements and identify the right ones. A. COR is relatively low in labour intensive sectors. B. COR will be high in capital intensive sectors C. Both D. None

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A typical demand curve will normally have a (a) positive slope ; (b) horizontal slope ;(c) vertical slope ; (d) negative slope

Description : A typical demand curve will normally have a (a) positive slope ; (b) horizontal slope ;(c) vertical slope ; (d) negative slope

Last Answer : (d) negative slope 

At a given time and in a given marketplace, the entire market demand curve indicates the (a) quantity of a good consumers would be willing and able to purchase at a given price. (b) quantity of a good consumers would be able to purchase at a series of prices. (c) quantity of a good consumers want to purchase at a given price (d) quantity of a good consumers have purchased at a series of prices over the year.

Description : At a given time and in a given marketplace, the entire market demand curve indicates the (a) quantity of a good consumers would be willing and able to purchase at a given price. (b) quantity of a ... a given price (d) quantity of a good consumers have purchased at a series of prices over the year.

Last Answer : (b) quantity of a good consumers would be able to purchase at a series of prices. 

The demand curve of a Monopoly firm is – (a) Same that of a firm in a perfect competition ; (b) Same as that of the total market demand; (c) Non-exist ; (d) Perfectly elastic

Description : The demand curve of a Monopoly firm is – (a) Same that of a firm in a perfect competition ; (b) Same as that of the total market demand; (c) Non-exist ; (d) Perfectly elastic

Last Answer : (b) Same as that of the total market demand;

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

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 ;

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

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 ;

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

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 ;

For a monopoly firm market demand curve is (a) Marginal revenue curve itself ; (b) Average Revenue curve itself ; (c) Marginal cost curve (d) None

Description : For a monopoly firm market demand curve is (a) Marginal revenue curve itself ; (b) Average Revenue curve itself ; (c) Marginal cost curve (d) None

Last Answer :  (b) Average Revenue curve itself ;

In short run a monopolistic competition firm will be in equilibrium where (a) MR = curve intersect SMC curve from above (b) MR curve intersect SMC curve from below (c) MC = AR ; (d) MR curve intersect SMC from below and P is equal to or more than AVC

Description : In short run a monopolistic competition firm will be in equilibrium where (a) MR = curve intersect SMC curve from above (b) MR curve intersect SMC curve from below (c) MC = AR ; (d) MR curve intersect SMC from below and P is equal to or more than AVC

Last Answer : ; (d) MR curve intersect SMC from below and P is equal to or more than AVC