BCOM ECO-1 MCQ's




Question 181 :
The cross price elasticity of demand is defined as :

  1. The ratio of percentage change in the demand to the percentage change in the price.
  2. The ratio of percentage change in the demand for a given product to the percentage change in the price of a related other product.
  3. The ratio of percentage change in the demand for product X to the percentage change in the demand for product Y.
  4. The ratio of two different elasticities.
  

Question 182 :
Dx = a – b Px is a case of _____ demand function.

  1. Linear
  2. Steep
  3. Vertical
  4. Non– Linear
  

Question 183 :
The price determination theories in different market conditions enable the firm to solve the _____ problems.

  1. Supply analysis
  2. pricing practices
  3. None of these
  4. pice fixation
  

Question 184 :
Expert opinion method is more accurate and reliable.

  1. TRUE
  2. FALSE
  

Question 185 :
Time Series model does not address any other variables.

  1. TRUE
  2. FALSE
  

Question 186 :
Regression method collect historical data on all the selected variables.

  1. TRUE
  2. FALSE
  

Question 187 :
Using five units of labour a firm can produce 2500 units of a good. Using six units of labour the firm can produce 3000 units of the good. The marginal product of the sixth unit of labour is.

  1. 100 units
  2. 1500 units
  3. 2000 units
  4. 500 units
  

Question 188 :
A straight line demand curve implies _____ demand function.

  1. Linear
  2. Non– Linear
  3. Steep
  4. Vertical
  

Question 189 :
A producer’s output equilibrium is determined at the point of _____ between isovant and isocost lines.

  1. tangency
  

Question 190 :
When e = 1, total revenue reaches its maximum.

  1. TRUE
  2. FALSE
  

Question 191 :
The ______ graphically depicts the profit-output relationship

  1. Marginal point
  2. Break-even chart
  3. point of origin
  4. All of the above
  

Question 192 :
opportunity cost is also called as _____ cost.

  1. Total
  2. Average
  3. Marginal
  4. Alternative
  

Question 193 :
The _____ measures the change in the dependent variable with respect to the change in the independent variable.

  1. marginal concept
  2. Cost analysis
  3. Production analysis
  4. None of these
  

Question 194 :
Different ______ are indicated by differently sloping income demand curve.

  1. price elasiticity
  2. Income elasticities
  3. Elasticity of substitution
  4. None of these
  

Question 195 :
The market clearing price is also called the ________.

  1. current price
  2. prevailing price
  3. equilibrium price
  4. None of the above
  

Question 196 :
The market demand schedule shows an _____ relationship between price and demand.

  1. direct
  2. No
  3. inverse
  4. none of these
  

Question 197 :
Total is the per unit value.

  1. TRUE
  2. FALSE
  

Question 198 :
Net diseconomies causes LAC to rise.

  1. TRUE
  2. FALSE
  

Question 199 :
Market _____ is derived by adding up all the individual demand.

  1. demand
  2. supply
  3. price
  4. none of these
  

Question 200 :
The break-even quantity point will decrease, when price ______.

  1. decreases
  2. Increases
  3. constant
  4. None of the above
  

Question 201 :
A proportional increase in output in relation to the charge in input implies _____ returns to scale.

  1. minimum
  2. constant
  3. maximum
  4. None of these
  

Question 202 :
The reduction in cost due to increase in efficiency is referred as ______.

  1. income effect
  2. price effect
  3. Learning curve effect
  4. all of the above
  

Question 203 :
______ curve is regarded as the long-run planning device.

  1. None of these
  2. LAC
  

Question 204 :
Fixed cost are overhead cost.

  1. TRUE
  2. FALSE
  

Question 205 :
At break-even point TR > TC.

  1. TRUE
  2. FALSE
  

Question 206 :
Two iso-quants can intersect each other.

  1. TRUE
  2. FALSE
  

Question 207 :
Break-even analysis has great importance to managerial economists.

  1. TRUE
  2. FALSE
  

Question 208 :
A monopoly firm faces a upward sloping demand curve.

  1. TRUE
  2. FALSE
  

Question 209 :
Demand forecasting is an estimate of the ______ demand.

  1. Present
  2. Past
  3. None of the above
  4. future
  

Question 210 :
The increase in cost due to increase in efficiency is called learning curve effect.

  1. TRUE
  2. FALSE
  
Pages