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 Lorenz curve shows that

Question # 2

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 # 3

A firm that is a price taker faces a perfectly

Question # 4

A monopolist will maximize profit.

Question # 5

Indifference curve approach is also called.

Question # 6

Projects A,B,C,D,E cost Rs. 100, Rs, 200, Rs. 300, Rs. 400, and Rs. 500 with MEC's of 0.07, 0.06,0.09 ,0.10 and 0.11 respectively. The market rate of interest is 8% Total investment spending is

Question # 7

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

Question # 8

In price discrimination, which section of the market is charged the higher price.

Question # 9

If a tax of Rs. 6 per units is imposed upon the suppliers, then.

Question # 10

Price elasticity at a given price is not affected by.

Question # 11

Which of the following is a characteristics of monopolistic competition.

Question # 12

Firm A's annual profit is.

Question # 13

Micro economics studies such topics as

Question # 14

When oligopolistic firms interacting with one another each choose their best strategy given the strategies chosen by other firm in the market we have

Question # 15

If an increase in the price of gasoline increases the demand for gas hybrid cars, then

Question # 16

In perfect competition, a seller by increasing price.

Question # 17

An elasticity coefficient of -1 means that

Question # 18

If the price of an apple increases.

Question # 19

In pure monopoly there is.

Question # 20

An exceptional demand curve is.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 Which of the following does not characterize monopolistic competition.
A. Product differentiation
B. Many producers
C. Absence of advertising
D. Some control over price
2 Extension and contraction of demand mean
A. Movement on the same demand curve
B. Movement to high demand curve
C. Movement to lower demand curve
D. Movement to another demand curve
3 Economic growth is shown on the production possibility frontier as.
A. The curvature of the PPF
B. An inward shift in the PPF
C. An outward shifts in the PPF
D. A movement from one point on the PPF to another
4 Assume a cosumer buys 25 units of good X at Rs.8 and 10 units of good Y at Rs. 6 in 1980. If Px = Rs. 6 and Py = Rs. 4 in 1970 the pasasche index is.
A. 1.14
B. 1.65
C. 1.37
D. 1.47
5 BATA's marginal utility per dollars is .8 for both shorts and running shoes,. To attain her consumer equilibrium BATA should.
A. Buy an additional pair of shorts
B. Buy an additional pair of both items
C. Possibly not make any adjustment in her behavior
D. Sell her shorts and keep her shoes
6 Price discrimination is possible
A. Oligopoly
B. Duopoly
C. Perfect competition
D. Monopoly
7 An increase in the discount rate at the FED generally has the following effect on bond prices.
A. There is no demonstrated effect
B. Such an increase tends to lower bond prices.
C. Such an increase tends to raise bond prices
D. Bond prices are related to the government purchase and sale of bonds.
8 The demand curve for labor for a monopolist when other inputs are fixed is equal to its
A. Marginal value product curve
B. Marginal revenue product curve
C. Horizontal summation of the firms demand curve at different output prices
D. Marginal physical product curve
9 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
10 If average variable cos tis less then marginal cost then certainly.
A. Per unit total cost is rising
B. Per unit total cost is constant
C. Per unit total cost is falling
D. Per unit variable cost is rising

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