Question # 1

When Ac is rising:

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AC = MC

MC > AC

MC < AC

Both (b) and (c)

Which laws are definite and universal

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Economic laws

Moral laws

State laws

Scientific laws

Cause of shifting of demand curve is

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Change in price

Desire

Other factors

Exceptions

Which one of the following is included in balance of trade

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Visible goods

Invisible goods

Visible & invisible goods

All the three

Slope of demand curve is

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Negative

Positive

zero

fixed

State laws are of

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Regional nature

Country nature

International nature

Non of three

Demand for the goods which have different uses, is

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More elastic

Less elastic

Infinity

Zero elastic

If income of government is less than its expenditures, then it is a

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Surplus budget

Deficit budget

Development budget

Balanced budget

Demand for good like Television and VCR is

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Less elastic

More elastic

Perfectly inelastic

Infinitely elastic

If elasticity of supply is equal to unity then extending supply curve downward, it passes through or crosses

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y-axis

x-axis

Point of origin

Becomes vertical

When average cost curve id falling, then marginal cost curve

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Remains below it

Remains above it

Remains parallel to it

Is vertical

The decreasing part of TU curve shows:

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MU is zero

MU is negative

MU is increasing

MU is decreasing

Utility can not be measurable who has said

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Marshall

Hicks

Pigue

Adam Smith

All the factors production can be hired except.

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Land

Labour

Capital

Organization

One of the following is not included in explicit cost

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Wages of labourers

Reward of entrepreneur's personal labour

Price of raw material

Interest of capital

Laws of returns are also known as:

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Laws of substitution

Laws of consumption

Laws of cost

All of three

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