Classical

Business Economics - Business Economics MCQ

41:  

Study of demand over two periods is called

A.

Static

B.

Comparative static

C.

Dynamic

D.

None of these

 
 

Option: B

Explanation :

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42:  

In case of monopoly,  a firm in the long run can have

A.

Loss

B.

Super Normal Profit

C.

Break even

D.

All of these

 
 

Option: B

Explanation :

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madhu said: (1:33am on Friday 9th December 2016)
it is the situation of short run because in long run monopolistic firm only erns super normal profit
Kanchan ramsinghani said: (11:59pm on Sunday 21st May 2017)
In long run a monopoly firm only earns abnormal profit. In short run it earns above three conditions.

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43:  
Marginal cost curve cuts the average cost curve from below at
 
A.

its lowest point

B.

the left of the lowest point

C.

right of the lowest point

D.

All of the above

 
 

Option: A

Explanation :

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44:  
On an indifference map, if the income consumption curve slopes downwards to the right it shows that
A.

Both X and Y are superior goods

B.

Y is an inferior good

C.

X is an inferior good

D.

Both X and Y are inferior goods

 
 

Option: B

Explanation :

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45:  
Impact of change in demand in one sector on other sectors is studied by
A.

General equilibrium

B.

Partial equilibrium

C.

Both (a) and (b)

D.

None of these

 
 

Option: A

Explanation :

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