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

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PPSC Economics Topic 2 Micro Economics

00:00
Question # 1

Last week, Martha spend one day cleaning a house for this she was paid $50 The rest of the week, she spend looking for a job Martha would be callsified as.

Question # 2

Indifference curve has following characteristics except.

Question # 3

A linear homogenous production function would reveal.

Question # 4

Which of the following taxes is regressive

Question # 5

When the demand curve is vertical its shows that the demand is.

Question # 6

A monopolist will maximize profit.

Question # 7

The largest source of tax revenue for the federal government is

Question # 8

Which of the following correct about firms in an oligopoly.

Question # 9

A firm's total revenue is Rs. 4,500 when it sells 15 pairs of boots compared to Rs. 4,480 when it sells 14 pairs,. The marginal revenue of the 15th pair of boots is.

Question # 10

When due to change in price of commodity x demand of commodity y is charged it is called.

Question # 11

One of the following has more elastic demand.

Question # 12

The same graph shows that the firm order to maximize profits , should produce.

Question # 13

The demand curve of unitary elastic commodity is.

Question # 14

if a consumer is purchasing only two commodities X and Y , and the marginal utility per dollar of Y is greater than the marginal utility per dollar of X to maximize total utility with the limited income the consumer should buy.

Question # 15

In monopoly there is.

Question # 16

The most important determinant of price elasticity is.

Question # 17

The ABC corporation.

Question # 18

If there are 50 firms in a industry each selling 2% of the total sales the concentration ratio is.

Question # 19

If leisure is an inferior good the individuals supply curve for labor is.

Question # 20

If the prices of both goods increase by the same percent the budget line will

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 A monopolist will discontinue production if
A. Marginal revenue is less than marginal cost
B. Marginal revenue is less than average total cost
C. Marginal revenue is less the average fixed cost
D. Price is less than average variable cost
2 A situation in which firms choose their best strategy given the strategies chosen by the other firms in the market is called.
A. a competitive equilibrium
B. An open market solution
C. The Nash equilibrium
D. The cartel equilibrium
3 Ti access internet services consumers must use a computer if computer prices fall, what is the effect on the demand for internet services.
A. The demand for internet services increases.
B. The demand for internet services decreases
C. The demand for internet services does not change
D. The demand for internet services could increase, decrese, or stay the same depending on other factors.
4 change in quantity demanded
A. Downward shift of demand curve
B. Movement on the same demand curve
C. Downward shift
D. None of these
5 An exceptional demand curve is.
A. Vertical
B. Horizontal
C. Downward sloping
D. Positive slope
6 If a firm which polluted the water of area had to pay all social cost would have
A. Small output
B. Large output
C. Heavy output
D. B and C
7 Indifference curve has following characteristics except.
A. Convex to origin
B. Intersect each other
C. Not necessary to be parallel
D. None of these
8 The firms average variable cost of the 150th unit is.
A. Rs.15
B. Rs.17
C. Rs.20
D. Rs.9
9 A profit maximizing monopolist in two separate markets will
A. Charge different price according to elasticity
B. Charged same price
C. Charged very high price
D. Charged very low price
10 To maximize revenue, an excise tax should be imposed on a product
A. That has a highly elastic demand curve
B. Such as St. Joseph's children's' aspirin.
C. Such as salt
D. such as Toyota automobiles

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