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 demand curve for labor for a monopolist when other inputs are fixed is equal to its

Question # 2

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

Question # 3

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

Question # 4

The long run is a time period that is.

Question # 5

If a price floor of Rs.15 is imposed, the governments cost is.

Question # 6

Ti access internet services consumers must use a computer if computer prices fall, what is the effect on the demand for internet services.

Question # 7

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

Question # 8

Indifference curve has following characteristics except.

Question # 9

The law of diminishing marginal returns to a factor of production is.

Question # 10

Which of the following is a characteristics of monopolistic competition.

Question # 11

In monopoly the firm can

Question # 12

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

Question # 13

An exceptional demand curve is.

Question # 14

Finance minister tax a commodity

Question # 15

"The quantity demanded increases as its price increases and falls as its price falls" is called given goods, is presented by.

Question # 16

If the price of an apple increases.

Question # 17

If the price of product X falls and this change increases the demand for product Y then.

Question # 18

A firm that is a price taker faces a perfectly

Question # 19

In perfect competition the industry will be in equilibrium.

Question # 20

In substitution effect a consumer

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 A monopolist who is charging high price operates on.
A. inelastic part of demand curve
B. Elastic demand of part curve
C. Ignore elasticity
D. More elastic demand of part curve
2 MC = MR= AR=AC = Price shows the longs run
A. Monopolist firm
B. Oligopolistic firm
C. Competitive firm
D. Both a and b
3 The law of diminishing marginal returns to a factor of production is.
A. Not applicable
B. Another explanation of economies of scale
C. A principle of scales
D. None of these
4 the ouput where diminishing return to production begin is also the ouput where
A. Marginal cost is at a minimum.
B. Average total cost is at a minimum
C. Average variable cost is at a minimum
D. Marginal and average
5 The supply curve of a monopolist is always.
A. More elastic
B. Less elastic
C. undefined
D. Steeper
6 Suppose taht an exise tax is imposed on the monopolist's product if the monopolist's marginal cost is horizontally the relevant range, which of the following statements must be true.
A. The price will increase by an amount less than the tax
B. The price will increase by an amount equal to the tax
C. The price will increase by a amount greater than tax
D. The price may either increase or decrease
7 The total utility of the third unit of product x is.
A. 10
B. 5
C. 23
D. 38
8 Indifference curve has following characteristics except.
A. Convex to origin
B. Intersect each other
C. Not necessary to be parallel
D. None of these
9 "Principles of economics" is the book of
A. Robbins
B. Adam smith
C. Hicks
D. Marshall
10 Which of the following is an automatic stabilizer.
A. Unemployment benefits
B. Spending on education
C. Defense spending
D. Net interest

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