Home
Current Affairs January 2024

What is the correct answer?

4

A firms profit is equal to:

A. R-C

B. R>C

C. R

D. R=C

Correct Answer :

A. R-C


Related Questions

What is the correct answer?

4

The relationship between AC and MC curves depend upon the behavior of:

A. AP curves

B. MP curves

C. Both of them

D. None of them

What is the correct answer?

4

In monopolistic competition, the firms face:

A. Horizontal demand curve

B. Vertical demand curve

C. Similar demand curve

D. Differential demand curve

What is the correct answer?

4

Which of the following formula determine the income elasticity of demand?:

A. Proportionate change in demand Proportionate change in price

B. Proportional change in the purchase of Y Proportional change in the price of X

C. Proportionate change in demand Proportionate change in income

D. Proportionate change in demand Proportionate change in price

What is the correct answer?

4

Kinked Demand Curve is consistent with which one of the following market situations?

A. Pure competition

B. Pure monopoly

C. Oligopoly

D. Monopolistic competition

What is the correct answer?

4

The reserve capacity in administration is advocated on the ground that demand for a product will:

A. Decrease in the future

B. Increase in the future

C. Remain constant

D. None of the above

What is the correct answer?

4

With elasticity of demand, the:

A. Negative sign is ignored

B. Positive sign is ignored

C. None of them

D. Both of them

What is the correct answer?

4

In dominant price leadership model, the small firms are like:

A. monopolistic firms

B. monopoly

C. competitive firms

D. none of the above

What is the correct answer?

4

The main contribution of Prof. R.G.D.Allen is in the field of:

A. fixation of price

B. Arc elasticity of demand

C. Cross elasticity of demand

D. Wage theory

What is the correct answer?

4

In the perfect competition, there is a process of:

A. Restricted entry and exit of the firms

B. Semi free exit but absolute free entry

C. Free entry but restricted exit of the firms

D. Free entry and free exit of the firms

What is the correct answer?

4

In the long run average costs curve, a firm can change:

A. Labour

B. Capital

C. Both of them

D. None of them

What is the correct answer?

4

For the given production function, technical efficiency is defined as:

A. Sets of points relating production function that maximizes output given input (labor) i.e. Q = f(L, K)

B. Sets of points relating production function that produces less output than possible for a given set of input (labor) i.e. Q < f(L, K)

C. Use of imported technology

D. None of the above

What is the correct answer?

4

When income of the consumer increases then demand curve of an inferior good:

A. Shifts rightward

B. Shifts leftward

C. Does not shift

D. None of the above

What is the correct answer?

4

The General Theory of Employment, Interest and Money is the major work of :

A. N.Kaldor

B. Alfred Marshal

C. J.M.Keynes

D. J.S.Duesenberry

What is the correct answer?

4

Total fixed costs are:

A.

B.

C.

D.

What is the correct answer?

4

An effective price ceiling usually results in:

A. Excess demand

B. Qd > Qs

C. Shortage of supply

D. All of the above

What is the correct answer?

4

On a straight line demand curve, elasticity of demand at the midpoint is:

A. Equal to zero

B. Equal to one

C. Equal to infinity

D. More than one

What is the correct answer?

4

The general markets results from the imposition of price ceilings has been:

A. Higher prices

B. Increased prices

C. Increased consumption

D. Shortage of products

What is the correct answer?

4

The cost of one thing in terms of the alternative given up is known as:

A. Production cost

B. Physical cost

C. Real cost

D. Opportunity cost

What is the correct answer?

4

Labor Saving Technological Progress can be defined as:

A. Technological progress that causes to raise the marginal product of capital and labor in the same proportion

B. Technological progress that causes the marginal product of capital to increase relative to the marginal product of labor

C. Technological progress that causes the marginal product of labor to increase relative to the marginal product of capital

D. None of the above

What is the correct answer?

4

An increase in the price of the good measured on the horizontal axis causes:

A. The budget line to get steeper

B. The budget line to shift parallel to the right

C. The indifference curve to shift up

D. The budget line to get flatter

What is the correct answer?

4

Indifference curve represents:

A. Only two commodities

B. Only three commodities

C. More than three commodities

D. Any number of commodities

What is the correct answer?

4

Cross-demand curve shows:

A. The effect of a change in price of X on its demand

B. The effect of a change in price of X on the demand for Y

C. The effect of a change in price of Y on its demand

D. None of the above

What is the correct answer?

4

Inputs or Factors of production are defined as:

A. Productive resources such as labor and capital equipment that firms use to manufacture goods and services are called inputs or factors of production

B. Unproductive resources that do not take part in production process are called inputs or factors of production

C. Firms own resources are called inputs or factors of production

D. None of the above

What is the correct answer?

4

The goods sold by firms under monopolistic competition are technological as well as:

A. Economic complements

B. Economic substitutes

C. Economic inferiors

D. None of the above

What is the correct answer?

4

The low cost price leader will charge:

A. higher prices

B. zero prices

C. lower prices

D. specific prices

What is the correct answer?

4

The kink demand curve faced by an oligopolist is based on the assumption that:

A. Competitors will follow a price increase but not a price cut

B. Competitors will follow a price increase as well as a price cut

C. Competitors will ignore both a price increase and a price cut

D. Competitors will ignore a price increase but will follow a price cut

What is the correct answer?

4

If the prices of goods rise then:

A. The real income of consumer falls

B. The real income of consumer rises

C. The real income of a consumer remains constant

D. The real income of consumer becomes zero

What is the correct answer?

4

When total revenues equal to total opportunity cost then the firm will earn:

A. Abnormal profit

B. Zero profit

C. Normal profit

D. Negative profit

What is the correct answer?

4

If X and Y are close substitutes, a fall in price of X will lead to:

A. Increase in demand for Y

B. Decrease in demand for Y

C. Increase in demand for both X and Y

D. Increase in demand for Y

What is the correct answer?

4

The isoquant approach is based upon:

A. One output

B. One input

C. Two outputs

D. Two inputs