Question # 1

Who described Economies as a science of wealth:

Piguo

Adam Smith

Robbins

Marshall

Which of the following is true about supply curve under monopoly?

It is same as the competitive market supply curve

It is the portion of marginal cost curve where marginal costs exceed the minimum value of average variable costs

It is the result of market power and production costs

None of the given statements is true

In 2005-06 the share of chemicals was 9.08 percent and the share of electricals was:

4.6 percent

8.2 percent

11.78 percent

16.3 percent

Marginal cost curve always intersects average cost curve at:

The maximum point

The central point

The minimum point

The vertical point

Give the production of sugarcane in Pakistan in 2005-06?

22 millions tons

33 million tons

44 million tons

55 million tons

NAT II Management Science Economy MCQs With Answers