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

Micro economics studies such topics as

Question # 2

At level of income and output of 100 in the diagram above

Question # 3

The expected profit from the profit distribution above is.

Question # 4

Law of demand is not applicable on

Question # 5

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

Question # 6

In monopoly the firm can

Question # 7

A firm charges Rs. 800 for its unique word processor. If total revenue is Rs. 56,000 in July, how many word processor were sold that month.

Question # 8

The quantity of Y demanded increases by 6% when income changes, and income elasticity of demand is -0.9 income

Question # 9

If the income elasticity of demand is +4

Question # 10

The are price elasticity of demand is approximately

Question # 11

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 # 12

The income elasticity of demand

Question # 13

Indifference curve is alwyas.

Question # 14

when there is huge change in demand following method is used to measure elasticity of demand.

Question # 15

Indifference curve approach is also called.

Question # 16

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

Question # 17

In perfect competition price is settled by

Question # 18

The income effect of a price change

Question # 19

Marginal cost is the change is cost the result from a one unit increase in.

Question # 20

If Supply and demand both decrease simultaneously. Which of the following will happen.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 If a monopolist's has only fixed costs and chooses that output at which marginal cost equals price. it will
A. Earn positive economic profits
B. Earn zero economic profits
C. Incur a loss equal to its variable costs
D. Incur a loss equal to its fixed costs
2 An -increase the expected future price of a good.
A. Increases its demand
B. Decreases its demand
C. Increases its supply
D. Has no effect on either its demand or its supply.
3 Given the cost data indicated in the table above the average variable cost of producing 7 units of output is
A. Rs.37
B. Rs.29
C. Rs.31
D. Greater than Rs.37
4 When Daimler Benz maker of the Mercedes bought Chrysler the merger was
A. Horizontal
B. Vertical
C. Conglomerate
D. None of these
5 If a person's MPC is always two thirds and that person's break even point is Rs. 6,000, at a disposable income of Rs.9,000 the person's consumption expenditures will be.
A. Rs. 8,000
B. Rs. 5,000
C. Rs.6,000
D. Rs.7500
6 An income demanded curve of an inferior good is.
A. Same in slope
B. Upward is slope
C. Downward in slope
D. None of these
7 Average fixed cost
A. Is U shaped
B. Declines over the entire output range.
C. Is a long run concept only
D. Is influenced by diminishing returns to production
8 In order to practice price discrimination which of the following is needed.
A. Some degree of monopoly power
B. An ability to separate the market
C. An ability to prevent reselling
D. All of the above
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 In perfect competition the transpiration cost
A. Excluded from the total cost
B. Is important figure in total cost
C. Is ignored
D. All of these

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