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

Which of the following is a characteristic of monopolistic competition.

Question # 2

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

Question # 3

The ABC corporation.

Question # 4

In the long run a profit maximizing monopoly produces an output volume that

Question # 5

Immediately after a through we would expect to have al

Question # 6

Price elasticity at a given price is not affected by.

Question # 7

If the price of an apple increases.

Question # 8

The long run is a time period that is.

Question # 9

Price discrimination is possible

Question # 10

As long as all prices remain constant an increase in money income results in.

Question # 11

The largest source of tax revenue for the federal government is

Question # 12

When the marginal physical product of labor is 800 - 2N , the price of goods is Rs. 2, and the cost of labor is Rs. 4 per unit, the quantity of labor employed is.

Question # 13

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.

Question # 14

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

Question # 15

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 # 16

The Lorenz curve shows that

Question # 17

The price elasticity of demand will increase with the length of the period to which the demand curve pertains because.

Question # 18

Perfect competition implies

Question # 19

Which of the following is correct with respect to the Paasche index.

Question # 20

Which of the following does not apply to pareto efficiency.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 If a monopolist's demand curve is downward sloping and linear, then its total revenue curve must be.
A. Identical to the demand curve
B. A ray from the origin with a slope equal to price
C. negative sloped with twice the slope of the demand curve
D. A rising function of output that increases at a decreasing rate , reaches a maximum, then falls.
2 In pure monopoly there is.
A. A lot of firms
B. Two firms
C. A single firm
D. Many firms
3 A typical demand curve cannot be
A. Rising upwards to the right
B. A straight line
C. Concave to origin
D. Convex to origin
4 Which of the following does not characterize monopolistic competition.
A. Product differentiation
B. Many producers
C. Absence of advertising
D. Some control over price
5 Indifference curve has following characteristics except.
A. Convex to origin
B. Intersect each other
C. Not necessary to be parallel
D. None of these
6 In capitalistic economy price is determined by
A. Supply and production
B. Demand and production
C. Demand and consumption
D. Demand and supply
7 Immediately after a through we would expect to have al
A. Peak
B. Recession
C. Recovery
D. Another trough
8 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
9 Along the long run supply curve all of the following can vary except.
A. The level of profits
B. The number of firms in the industry
C. Input prices
D. The level of input usage
10 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

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