Home

If money income is given then consumer is in equilibrium when:

A. MU < P

B. MU >P

C. MU = P

D. MU = 0

Correct Answer : C.


Download Objective type questions of Basics of Economics PDF

Visit our PDF store

Get all objective type questions of Basics of Economics MCQ

Also checkout these categories

Syllogism MCQ Electrostatics MCQ Coding Decoding MCQ Analogy MCQ Microsoft Excel MCQ Time and Work MCQ Height and Distance MCQ s-Block Element MCQ H.C.F and L.C.M MCQ Periodic Classification of Elements MCQ Transition Element MCQ Root Problem MCQ

Please do not use chat terms. Example: avoid using "grt" instead of "great".

Submit
Load More..
You can do it
  1. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  2. In Prisoners Dilemma, both the prisoners are interrogated:
  3. Pure monopoly exists:
  4. In Bertrand model, the entry of new firms is:
  5. An income demand curve of an inferior good is:
  6. A maximin strategy:
  7. Who is the author of the famous work Asian Drama: An Enquiry intro the Causes of Poverty of Nations?
  8. Normally when price per unit of time falls:
  9. If, at the prevailing price, more of a good is desired than is available for sale:
  10. In the case of a normal goods, the income effect:
  11. Which of the following does not have a uniform elasticity of demand at all points?
  12. If the price of Pepsi Cola goes down, you would predict:
  13. LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while…
  14. A monopoly producer has:
  15. Plumbing and pipe-fitting require many of the same skills. If the wage paid to pipe-fitters increased…
  16. The difference between accounting profits and economic profits is:
  17. The market demand shedule is determined by:
  18. A firms profit is equal to:
  19. If a monopolist is producing under decreasing cost conditions, increase in demand is beneficial to the…
  20. The expansion point is attained by joining:
  21. Price effect occurs on the higher IC in case of:
  22. Market allocation fundamentally relies upon:
  23. The central problem of economics is:
  24. The proportional demand curve in monopolistic competition (also in kinked demand curve model), is like…
  25. Increasing returns is not caused by:
  26. Labor theory was firstly rejected by:
  27. The budget-line is also known as the:
  28. Total fixed costs are:
  29. If the demand curve remains unchanged and supply increases, the price will:
  30. The total utility (TU) curve is: