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What is the correct answer?

4

The average product is given as:

A. Q.L

B. Q- L

C. Q+ L

D. Q/L

Correct Answer :

D. Q/L


Related Questions

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4

When elasticity of demand is less than one (e<1), then following the formula MR=P[1-1/e], the MR will:

A. Positive

B. Negative

C. Zero

D. None of the above

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4

Which of the following is not a U shaped curve:

A. Marginal cost curve

B. Average variable cost curve

C. Fixed cost curve

D. Average cost curve

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4

The market demand shedule is determined by:

A. Adding up the prices consumers are wiling to pay at each quantity demanded

B. Multiply each consumers demand curve by the total number of consumers in the market

C. Adding the quantities denmanded by all consumers at each alternative price

D. None of the above

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4

Marginal cost curve cuts the average cost curve:

A. At the left of its lowest point

B. At its lowest point

C. At the right of its lowest point

D. None of the above

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4

Which of the following pairs of commodities is an example of substitutes?

A. Tea and sugar

B. Tea and coffee

C. Pen and ink

D. Shirt and trousers

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4

Price discrimination is undertaken with the aim of:

A. Increasing sales and maximizing profits

B. Reducing sales and raising prices

C. Minimizing cost and maximizing revenue

D. Serving the markets without earning profits

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4

Market allocation fundamentally relies upon:

A. A system of relative prices

B. A belief that employees work for the good of society

C. Government ownership of the means of production

D. Moral incentives to encourage productive efficiency

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4

To calculate the Economic Profit we must deduct which of the following cost from our total revenues?

A. Opportunity cost

B. Direct cost

C. Rent cost

D. Wage cost

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4

Given a U shaped average cost curve, the relationship between average cost and marginal cost is such that marginal cost must always be:

A. Falling when average cost is falling

B. Rising when average cost is falling

C. Falling when average cost is rising

D. Rising when average cost is rising

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4

In monopolistic competition, the firms follow:

A. Exotic behavior

B. Sympathetic behavior

C. Myopia behavior

D. Regular behavior

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4

Which one of the following has been the most influential work of F.H.Knight?

A. Freedom and Reform

B. The Green Revolution

C. Economic Integration

D. Risk ,Uncertainty and Profit

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4

The isoquant which are generated by CES (constant elasticity of substitution) production function are always:

A. Positively sloped

B. Negatively sloped

C. Concave to the origin

D. None of the above

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4

With the change in the factor prices, the slope of the expansion path will:

A. Not change

B. Also change

C. Increase

D. Decrease

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4

A good tends to have relatively inelastic demand, if:

A. Close substitutes are available

B. It has a high price

C. It is a luxury

D. It has no very close substitutes

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4

If two goods have same marginal utility for a consumer then:

A. He will consume only one of them

B. He will consume equal quantities of them

C. He will be willing to pay the same price for each of them

D. The total utility gained from each of them is equal

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4

The partial equilibrium model keeps other things:

A. Variable

B. Constant

C. Increasing

D. Decreasing

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4

All the firms with identical costs under perfect competition well, in the long-run, earn only:

A. Normal profits

B. Abnormal profits

C. Differential profits

D. No profits

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4

In discriminating monopoly (price discrimination), the elasticity of demand of product in two markets are:

A. Different

B. Same

C. Zero

D. None of the above

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4

Of the following, which one corresponds to fixed cost?

A. Payments for raw materials

B. Labor cost

C. Transportation charges

D. Insurance premium on property

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4

Who wrote A Contribution to the Theory of Trade Cycle?

A. N.Kaldor

B. J.R.Hicks

C. A.C.Pigou

D. J.M.Keynes

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4

Who is the author of Problems of Capital Formation in Underdeveloped Countries?

A. R.Nurkse

B. N.Kaldor

C. S.kuznets

D. Alfred Marshal

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4

Under the perfect competition, the transportation cost:

A. Is considered to be negligible and thus ignored

B. Is considered to be vital for the calculation of total cost

C. Is charged along with the price of the commodity

D. None of the above

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4

If, at the prevailing price, more of a good is desired than is available for sale:

A. The price is below equilibrium

B. The price is at equilibrium

C. The price must fall

D. We cannot tell anything about the price

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4

Price elasticity of demand can be measured in the following way:

A. Percentage change in quantity demanded of a commodity divided by percentage change in price of that commodity

B. Change in quantity demanded of a commodity divided by change in price of that commodity

C. Percentage change in price of a commodity divided by percentage change in quantity demanded of that commodity

D. None of that commodity

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4

Engel curves shows that:

A. How commoditys consumption rate differs at various levels of price

B. How commoditys consumption rate differs at various levels of satisfaction

C. How commoditys consumption rate differs at various levels of income

D. How commoditys consumption rate differs at various levels of taxes

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4

The difference between laws of return and laws of return to scale is:

A. In case of laws of return, one factor of production is constant and other is variable while in laws of return to scale both factors of production are variable

B. In case of laws of return to scale, one factor of production is constant and other is variable while in laws of return, both factors of production are variable

C. Both a and b

D. None of the above

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4

The Chamberline model recognizes mutual:

A. Independence of firms

B. Interdependence of firms

C. Independence of individuals

D. Interdependence of materials

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4

To get more revenue, a Finance Minister impose tax on that commodity which has:

A. Inelastic demand

B. Elastic demand

C. Unit elasticity

D. Zero elasticity

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4

External economies are witnessed in:

A. A rising supply curve

B. A rising demand curve

C. A falling supply curve

D. A falling demand curve

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4

Regarding economic decisions, economics of uncertainty identifies:

A. No risks

B. Risks

C. Safety

D. None of the above