Multi-choice 8 Question 1). At what price, elasticity will be equal to one? Answers Option 1 10 Option 2 25 Option 3 35 Option 4 40 Feedback Wrong option Correct option Wrong option Wrong option Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 2). At elasticity marginal revenue is equal to Answers Option 1 Zero Option 2 Infinity Option 3 One Option 4 None of the above Feedback Wrong option Wrong option Correct option Wrong option Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 3). Total revenueis maximum when elasticity of demand is Answers Option 1 0 Option 2 0.5 Option 3 1 Option 4 1.5 Feedback Wrong option Wrong option Correct option Wrong option Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 4). Market demand is aggregation of individul demand Answers Option 1 Vertically Option 2 Horizontally Option 3 Both Option 4 None Feedback Wrong option Correct option Wrong option Wrong option Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5). Dynamic theory of profit was indroduced by Answers Option 1 Marshall Option 2 J.B Cark Option 3 Walras Option 4 None of these Feedback Wrong option Correct option Wrong option Wrong option Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 6). Study of demand over two periods is called Answers Option 1 Comparative static Option 2 Static Option 3 Dynamic Option 4 None of these Feedback Correct option Wrong option Wrong option Wrong option Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7). Cobweb theory of demand is related to Answers Option 1 Static Option 2 Comparative static Option 3 Dynamic Option 4 None of these Feedback Wrong option Wrong option Correct option Wrong option Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 8). Impact of change in demand in one sector on other sectors is studied by Answers Option 1 General equlibrium Option 2 Partial equlibrium Option 3 Both of the above Option 4 None of the above Feedback Correct option Wrong option Wrong option Wrong option Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9). Insdustry with few firms is termed as Answers Option 1 Monopoly Option 2 Oligopoly Option 3 Perfect competition Option 4 None of these Feedback Wrong option Correct option Wrong option Wrong option Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10). Homogeneity of product is characteristic of Answers Option 1 Monopoly Option 2 Oligopoly Option 3 Perfect competition Option 4 None of these Feedback Wrong option Wrong option Correct option Wrong option Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback)
Multi-choice 8 Question 1). At what price, elasticity will be equal to one? Answers Option 1 10 Option 2 25 Option 3 35 Option 4 40 Feedback Wrong option Correct option Wrong option Wrong option Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 2). At elasticity marginal revenue is equal to Answers Option 1 Zero Option 2 Infinity Option 3 One Option 4 None of the above Feedback Wrong option Wrong option Correct option Wrong option Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 3). Total revenueis maximum when elasticity of demand is Answers Option 1 0 Option 2 0.5 Option 3 1 Option 4 1.5 Feedback Wrong option Wrong option Correct option Wrong option Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 4). Market demand is aggregation of individul demand Answers Option 1 Vertically Option 2 Horizontally Option 3 Both Option 4 None Feedback Wrong option Correct option Wrong option Wrong option Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5). Dynamic theory of profit was indroduced by Answers Option 1 Marshall Option 2 J.B Cark Option 3 Walras Option 4 None of these Feedback Wrong option Correct option Wrong option Wrong option Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 6). Study of demand over two periods is called Answers Option 1 Comparative static Option 2 Static Option 3 Dynamic Option 4 None of these Feedback Correct option Wrong option Wrong option Wrong option Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7). Cobweb theory of demand is related to Answers Option 1 Static Option 2 Comparative static Option 3 Dynamic Option 4 None of these Feedback Wrong option Wrong option Correct option Wrong option Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 8). Impact of change in demand in one sector on other sectors is studied by Answers Option 1 General equlibrium Option 2 Partial equlibrium Option 3 Both of the above Option 4 None of the above Feedback Correct option Wrong option Wrong option Wrong option Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9). Insdustry with few firms is termed as Answers Option 1 Monopoly Option 2 Oligopoly Option 3 Perfect competition Option 4 None of these Feedback Wrong option Correct option Wrong option Wrong option Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10). Homogeneity of product is characteristic of Answers Option 1 Monopoly Option 2 Oligopoly Option 3 Perfect competition Option 4 None of these Feedback Wrong option Wrong option Correct option Wrong option Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback)