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

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Question # 1

The conditions necessary for a firm to be able to price discriminate include.

Question # 2

In long run equilibrium a monopolistically competitive firm will find.

Question # 3

The tax is question 52 is

Question # 4

A monopoly market.

Question # 5

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

Question # 6

Suppose an individual spends all his income on only two goods, good X and good Y moreover suppose that you were asked to derive his price consumption curve for good Y Which of the following would be allowed to very.

Question # 7

Cross -elasticity following commodities is very high

Question # 8

A consumer is said to be in equilibrium when the marginla utility and price of a commodity

Question # 9

In perfect competition the transpiration cost

Question # 10

In the short run the competitive firm will produce if.

Question # 11

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

Question # 12

Price elasticity at a given price is not affected by.

Question # 13

Price discrimination occurs when

Question # 14

A demand curve is not related to

Question # 15

Firms in monopolistic competition compete on

Question # 16

For a competitive firm the demand curve

Question # 17

If X , Y, and Z are willing to work for Rs. 4, Rs, 5, and Rs.6 respectively but N pays them Rs. 7 each, producers surplus is.

Question # 18

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

Question # 19

In monopoly there is.

Question # 20

The most important determinant of price elasticity is.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 Law of variable proportion sis applicable in.
A. Short run
B. Long run
C. Anytime
D. Fore ever
2 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
3 In a perfectly competitive market if firms are earning an economic profit the economic profit.
A. Attracts entry by more firms, which lowers the market price
B. Can be earned both in the short run and long run
C. Is less than the normal profit
D. Leads to a decreases in market demand
4 Perfect competition implies
A. Homogeneous goods
B. Inferior goods
C. Superiors goods
D. Differential goods
5 Which of the following does not apply to pareto efficiency.
A. Consumptive efficiency
B. Productional efficiency
C. Allocative efficiency
D. Equity
6 A firm A's break even quantity is.
A. 10 units
B. 40 units
C. 50 units
D. 30 units
7 Which of the following does not characterize monopolistic competition.
A. Product differentiation
B. Many producers
C. Absence of advertising
D. Some control over price
8 If the prices of both goods increase by the same percent the budget line will
A. Shift parallel to the left
B. shift parallel to the right
C. Pivot about the x axis
D. Pivot abut the Y axis
9 Disposable income is equal to.
A. National income
B. National income minus taxes plus transfers
C. Real GDP
D. National income Minus taxes
10 If an increase in the price of gasoline increases the demand for gas hybrid cars, then
A. Hybrid cars are an inferior good
B. Gasoline and hybrid cars are complements in consumption
C. Gasoline is an inferior good
D. Gasoline and hybrid cars are substitutes in consumption

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