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Economics
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Q701

Monopoly is not considered desirable from the point of view of the society mainly because the monopolist endeavours to

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Q702

What happens when the consumer moves away from the origin into a higher indifference curve?

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Q703

Marginal revenue will be zero, if the elasticity of demand is

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Q704

Consider the following statements.
1. The demand for necessities in inelastic.
2. Demand for luxuries is elastic.
3. A product which has several uses has an elastic demand.
Which of the statement(s) given above is/are correct?

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Q705

The Normal Demand Line for a good

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Q706

Bobby buys cat food for his cat, Pearl. If the price of cat food falls (cat food is on the X-axis), then Bobby's budget line will

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Q707

Which one of the following statements is true?

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Q708

Mixed economy means-

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Q709

MC curve always cuts the AC curve from below

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Q710

Marginal rate of substitution of x and y can be shown in the curve by formula
Economics mcq question image

Economics mcq question image

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Q711

Comparing the equilibrium position of a buyer with that of a producer in a pefectly competitive market, it is found that in perfect competition

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Q712

Suppose that there are two goods, X and Y, facing a consumer. The prices are P_x = Rs. 4 and P_y = Rs. 5. He has Rs. 110 to spend on these goods. Suppose, he is currently buying 15 units of good X (with marginal utility equal to 40) and 10 units of good Y (with marginal utility equal to 45).
In the above context, which one of the following statements is correct?

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Q713

The basic nature of average fixed cost is that it

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Q714

Which of the following statement is incorrect?

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Q715

Which of the following is not the main objective of "Fiscal Policy of India"?

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Q716

A group of firms that gets together to make price and output decisions is called

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Q717

Which of the following is not the feature of monopolistic competition?

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Q718

The branch of Economics which focuses on 'what should be' is:

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Q719

Match the following.

List-I	List-II
a. Total cost	1. TR ÷ Q
b. Average revenue	2. ∆TC ÷ ∆Q
c. Marginal cost	3. AR × Q
d. Total revenue	4. TFC + TVC

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Q720

Consider the following statements.
1. Cartel is an informal agreement among the firms to avoid competition.
2. There is a free entry of firms in monopoly market.
3. There is a full control over price in perfect competition.
Which of the statement(s) given above is/are correct?

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