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

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PPSC Economics Topic 2 Micro Economics

00:00
Question # 1

Which of the following would cause the demand curve for an input to shift.

Question # 2

Which of the following shifts the demand curve for hot dogs leftward.

Question # 3

Immediately after a through we would expect to have al

Question # 4

Which of the following is a characteristics of monopolistic competition.

Question # 5

If a monopolist faces a downward sloping market demand curve its.

Question # 6

In pure monopoly there is.

Question # 7

A demand curve that is an equilateral hyperbola is.

Question # 8

The negative slope of the demand curve indicates that there is _______ relationship between the price and the quantity demanded.

Question # 9

If a firm triples all inputs and output triples as well the firm is subject to

Question # 10

Allocative efficiency is achieved under which of the following market structures.

Question # 11

If a monopolist's has only fixed costs and chooses that output at which marginal cost equals price. it will

Question # 12

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

Question # 13

A typical demand curve cannot be

Question # 14

The exit of firms out of a competitive market causes the supply curve to.

Question # 15

In the neighborhood of the long run equilibrium of a monopolistically competitive firm average cost will be.

Question # 16

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

Question # 17

Indifference curve theory is old wine in new labeled bottle is said by.

Question # 18

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 # 19

The "Law of demand" most directly means that consumers buy

Question # 20

If the income elasticity of demand is +4

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 A monopolistically competitive firm differs from a perfectly competitive firming that unlike the perfectly competitive firm it.
A. Faces a downward sloping demand curve
B. Can change the characteristics of its product.
C. Can vary the price of its product.
D. All of the above
2 What is the per unit marginal cost of increasing production from 20 to 25 units.
A. Rs. 3,500
B. Rs.100
C. Rs.4,000
D. Rs.500
3 The supply curve of a monopolist is always.
A. More elastic
B. Less elastic
C. undefined
D. Steeper
4 "Principles of economics" is the book of
A. Robbins
B. Adam smith
C. Hicks
D. Marshall
5 A linear homogenous production function would reveal.
A. Constant returns to scale
B. Increasing returns to scale
C. Decreasing return to scale
D. Doubling all inputs would more than double output
6 "Treating an individual as typical of a group" in the definition of.
A. Pure discrimination human capital
B. Statistical discrimination
C. Human capital
D. Specific skills
7 The tax is question 52 is
A. Progressive's
B. Regressive
C. Proportional
D. None of these
8 A drop in the price of compact disc shifts the demand curve for prerecord tapes leftward from that you know that compact discs and precorded tapes are.
A. Inferior goods
B. Substitutes
C. Complements
D. Normal goods
9 In the short run, the supply of farm commodities is.
A. Inelastic
B. Less elastic
C. More elastic
D. Undetermined
10 When oligopolistic firms interacting with one another each choose their best strategy given the strategies chosen by other firms in the market we have.
A. A cartel
B. The perfect competitive outcome
C. The Nash equilibrium
D. Monopolistic competition

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