PPSC Economics Topic 2 MCQS Test Preparation

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MCQ's Test For PPSC Economics Topic 2 Micro Economics

Try The MCQ's Test For PPSC Economics Topic 2 Micro Economics

  • Total Questions20

  • Time Allowed20

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PPSC Economics Topic 2 Micro Economics

00:00
Question # 1

If A, B, C and D are any four market baskets, and if the consumer has ranked them so that D is preferred to C, A is hot preferred to B, and B is not preferred to c then.

Question # 2

Which of the following is a characteristics of monopolistic competition.

Question # 3

In a typical cartel agreement the cartel maximizes profit when it.

Question # 4

"The quantity demanded increases as its price increases and falls as its price falls" is called given goods, is presented by.

Question # 5

If Supply and demand both decrease simultaneously. Which of the following will happen.

Question # 6

BATA's marginal utility per dollars is .8 for both shorts and running shoes,. To attain her consumer equilibrium BATA should.

Question # 7

Which of the following does not represent a barrier to entry into a market.

Question # 8

In monopoly there is.

Question # 9

When the quantity demanded is changed on the same price

Question # 10

The "compensated" demand curve is the demand curve that.

Question # 11

When a tax is levied on a good.

Question # 12

If both supply and demand for a good increase at the same time which of the following must also increase

Question # 13

The price elasticity of demand is teh same thing as the negative of the

Question # 14

If a firm which polluted the water of area had to pay all social cost would have

Question # 15

What is the per unit marginal cost of increasing production from 20 to 25 units.

Question # 16

In pure monopoly there is.

Question # 17

Which of the following is NOT an example of non price competition the auto industry.

Question # 18

The total utility of the third unit of product x is.

Question # 19

A demand curve is not related to

Question # 20

In perfect competition the transpiration cost

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 "The quantity demanded increases as its price increases and falls as its price falls" is called given goods, is presented by.
A. Allen
B. Marshall
C. Adam smith
D. Robert griffin
2 The price of Ketchup at a market increases by 12.5% per can, which results in a decrease in quantity purchased by 40% per week, the demand is.
A. Relatively elastic
B. Relatively inelastic
C. Perfectly elastic
D. Perfectly iinelastic
3 The average total cost when 20 units of output are produced is
A. Rs. 2,900
B. Rs.195
C. Rs. 20
D. Rs.900
4 The arc elasticity formula is used to estimate elasticity when
A. The product is thought to be inelastic
B. The product is thought to be elastic
C. The demand function is known
D. There are two observations of price and quantity
5 Cardinal approach theory was presented by
A. Marshall
B. Adam smith
C. Robbins
D. Hicks
6 The total utility of the third unit of product x is.
A. 10
B. 5
C. 23
D. 38
7 The competitive firm maximizes its profit by operating where
A. Average costs are at a minimum
B. Total revenue is at a maximum
C. Profit per unit is at a maximum
D. Marginal cost equals price
8 A firm A's break even quantity is.
A. 10 units
B. 40 units
C. 50 units
D. 30 units
9 Under perfect competition, the price system automatically result in efficient output selection when
A. MC = MR
B. MC = MU
C. P = ATC
D. P > AVC
10 The tax is question 52 is
A. Progressive's
B. Regressive
C. Proportional
D. None of these

Test Questions