Question # 1

Which one is not determinant of demand

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tastes

income

method of production

price

A firm under perfect competition is

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price maker

price breaker

price taker

price shaker

Why should employ units of a factor to a point where

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MP is negative

MP is equal to price of the factor

MP is positive

MP is rising

A statement of how one variable affects other variable is

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a quadrant

a variable

an assumption

a functional relationship

How many types of markets according to location

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4

5

6

7

WAPDA is a

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public corporation

public company

private company

partnership

The demand for a factor is called.

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Composite demand

Joint demand

derived demand

No demand

When the price of a product falls and as a concequence the demand for the product increase. it will be.

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Rise of demands

Fall of demand

Extension of demand

Contraction on demand

MRP curve of a firm represent demand curve of industry under.

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Imperfect compitition

Monolopy

Oligopoly

Perfect competition

It is an example of public limited company

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WAPDA

President House

SHELL petroleum

none of the above

The method to measure the elasticity of demand by the unitary method was introduced by.

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Alfred Marshall

Robbins

Adam Smith

Malthus

Total cost curve in general is a.

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Linear function

Quadratic function

Cubic function

Long function

When total product falls, marginal product is.

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Zero

Positive

Negative

Falling

Under marginal productivity theory, reward for labour is determined by

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owner

government

labour

marginal product

Which on of the following represents fixed cost:

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Price of raw material

Wages

Interests on loan

Rent of land

It describes the law of supply

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supply curve

supply schedule

supply equation

all the three

Total utility is maximised when.

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Marginal utility is zero

Marginal utility falls

Marginal utility rises

Non of the above

If the supply of land is assumed to be perfectly inelastic which of the following rent will it yield.

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Scarcity rent

Differential rent

Quasi rent

Scarcity rent

TR increase at a constant rate under:

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monopoly

Monopolistic

Perfect competition

Oligopoly

The reward of their services cannot be fixed

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wage earner

rent receiver

interest receiver

profit earner

Under perfect competition

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AC = AVC

AR = AC

AR = MC

AR= MR

Long-run price of a durable good is always less than its short run price . it is because.

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Long -run supply is more elastic than short-run supply curve.

Long -run supply is less elastic than short-run supply curve.

Long and short-run supply curves are equally elastic

None of the three

Factors of production are recently termed as.

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Output

Outly

Input

None of them

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