| 1 |
Under Monopoly, a firm is in equilibrium position when Ed is: |
- A. Equal to unity
- B. Less than unity
- C. Grater than unity
- D. Both b and c
|
| 2 |
Transfer payments are included in |
- A. Gross domestic income
- B. National income
- C. Disposable personal income
- D. Personal income
|
| 3 |
<div>According to whom economist, National income is the name of the total of production of goods and services</div> |
- A. Adam smith
- B. Marshall
- C. Fisher
- D. Pigou
|
| 4 |
The income which a person can use according to his will is called |
- A. Personal income
- B. Disposable personal income
- C. Net income
- D. Per capita income
|
| 5 |
How many conditions of firm's equilibrium are there ? |
- A. One
- B. Two
- C. Three
- D. Four
|
| 6 |
At shut down position: |
- A. AC = AR
- B. AVC = AR
- C. AVC < AR
- D. AVC > AR
|
| 7 |
Basic object of a firm is to get maximum: |
- A. Price
- B. Profit
- C. Production
- D. All of three
|
| 8 |
National income means the income |
- A. Which central government earns during a year
- B. Which provincial government earn during a year
- C. Total wealth of a country
- D. Rewards which the factors of production get during a year
|
| 9 |
If MC=MR=AR=AC=P, then a firms gains: |
- A. Super profit
- B. Normal profit
- C. Normal loss
- D. Abnormal loss
|
| 10 |
A firm suffers abnormal losse, when: |
- A. AC = AR
- B. AVC = AR
- C. AVC < AR
- D. AVC > AR
|
