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Egmc Assignments

IMT G egmc-assignments

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15 views

Egmc Assignments

IMT G egmc-assignments

Uploaded by

gsivaprakash
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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‘4s a monopolist increases the quantity of output produced, what happens to price (P) and marginal revenue (MR)? select one: © a. Both P And Me Decrease, But M Falls Faster Than P .P Decreases, But Mr is Constant Both P And Mi Remain Constant 4. ls Constant, But Mr Decreases ‘Because market price remains constant a a perfectly compete frm expands output each frm faces Select one © 8A Horizontal Demand Curve ’. Constant Returns To Scale € Constant Costs 4A Downward Sloping Curve Which ofthe fllowing is most likely tobe an inferior good? Select one ‘.Alrline Travel b. Restaurant Meals Soft rinks © 4. Used Clothings Economvcs is best defined asthe study of how Select one: © a. ndviduals Decide To Use Scarce Resources in An Attempt To Satisfy Their Unlimited Wants To Eliminate The Problem Of Scarce Resources The Government should Deal With Unemployment And inflation 6.To Make Money ‘The law of demand is illustrated by a demand curve thats Select one: 2. Downward sloping And Concave To Origin © Downward sloping And Convex To Origin None of These 6. Downward loping To The Right Imperfect competition fone frm raises its price Select one: All Consumers Will Ge Adversely affected © 'b,That Firm Will Lose Revenues Because Other Firms Will Not Follow Others Wil Fallow 6. That Fir Wil increase ts Revenues ‘Marginal products defined as, Select one 2. The Increase in Output That Occurs When All Resources Are increased By The Same Proportion The increase in Revenue That Occurs When An Additional Unit OTA Resource Is Added © The increase in Output That Occurs When An Additional Unt Of A Resource Is Added, Holding All Other Resources Constant 4. The Amount Of Additional Resources Needed To Increase Output By One Unit When All Resources Are Increased By The Same Amount ‘The demand curve facing a perfectly competitive frm is Select one: 2. Unit Elastic b. Perfectly Inelastic © Perfectly elastic 6. Identical To The industry Demand Curve Inthe shortrun, how wil a proft-maximizing monopolist react its marginal cost suddenly increases? twill Select one: 2a. Increase Plant Se To Lower Marginal Cost b. Lower Price To Expand Revenue Possibilties Maintain The Current Price If Profits Stil Positive © 4. Restrict Output To Extract A Higher Price From Customers ‘The demand curve for a good that has many perfect substitutes in consumption i ikely to be Select one 2. Highty Inelastic . Upward stoping steep © 6. Horizontal Explicit costs are Select one ‘8. Only Cost Considered in Opportunity Cost b.Exactly The Same As implicit Costs © Actual Monetary Payments For Resources Purchased 4. Not Part Of Opportunity Cost Suppose there are only two goods, apples and oranges. What happens f the price of each good increases by 15 percent? Select one: 2. The Consumer wil Substtute Apples For Oranges '. The Consumer Will Suasttute Oranges For Apples. © There I No Substitution Effect Because Relative Prices Have Remained Constant. 4. Demand For Both Goods increases. Which ofthe following are implict costs for atypical fm? Select one: a lectrcity Costs b. Insurance Costs ©. Cost Of Labor Hired By The Frm © 6. opportunity Costs OF Capital Owned And Used By The Firm Suppose Sushil gives up hsb as financial advisor for PES. where he earned Rs. 30.000 per year to open up a store to sell sports goods to Cricket teams He invested Rs. 10,000 inthe store which was in savings account and earning 5 percent interest. This year's revenues inthe new business were Rs. $0,000, and explicit costs were Rs. 10,000. What i the opportunity cost incurred by Sushil select one: 2. Rs 30,000 © Rs. 30500 «Rs 50.000 Rs. 10.000 In economics. capitals defined as Select one: ‘8. Money And Other Financial Assets © b, Human Creations Used In The Production Process The Natural, Unsklea Abilities Of People 4. Natural Resources, Such As Water Ol, And Iron Ore Which ofthe folowing markets best approximates the perfectly compettive market structure? Select one: airlines b. Insurance Automobile Manufacturing © 6. World Commocity Markets \Which ofthe following s not a barrie to entry which leads to monopoly power Select one © a. Homogeneous Product Economies OF Scale € Control Of An Essential Resource 6. Patents And Copyrights Which ofthe following isa short-run adjustment? Select one <2. Faced With increasing Enrollment. A Private College Builds A New School Of Business Bulding. ». Because Of Staggering Losses, Three insurance Companies Ext The Industy. © People's Bank Hires Two New Tellers To Meet increased Demand For Customer Services. 4d, Tata Motors Bulds An Automobile Assembly Plant in Pune. ‘The marginal product of labor isthe Select one £2. Cost Of An Adaltional Worker b. average Output Per Worker «Change in Revenue From Using One More Unit Of Labor ©. Change n Output From Using One Mare Unit Of Labor Ia fem ABK raises the price ofits product its total revenue wall, Select one: © a increase Only if Demand is Price inelastic b, Remain Constant, Regardless Of Change In Price always Increase 6. Increase Only f Demand Is Price lastic The opportunity cost ofa resource Select one: 2. Includes Explicit Cost Only © Includes Both Explicit And implict Cost ls Equal To The Market Price Of The Resource 4. Includes implicit Cost Only ‘The law of demand says thatthe lower the price ofa good, other things constant. Select one: a. The Larger The Demand For That Good The Smaller The Quantity Demanded Of That Good The Smaller The Demand For That Good © 6. The Larger The Quantity Demanded Of That Good ‘Which ofthe folowing will cause the demand curve fora normal good to shift tothe right? select one 2. ADecrease in income ‘An increase In The Price Of A Complementary Good © Aninerease In The Price Of A Substitute Good 4.A Decrease In The Price Of The Good ‘The effect of decrease inthe rice of personal computers. other things constants likely to be best represented by which ofthe following? Select one {3 An Upward Movement On The Demand Curve A Rightward Shift Of The Demand Curve cALeftward Shift Of The Demand Curve © d.ADownward Movement On The Demand Curve ‘Benares city has abundant supply of water. However, an economist would consider ita scarce resource because Select one: a. Water Commands A Very High Price b. Water Pollution Wl Eventually Make It Of No Use To The Human Life © Water Is Limited Relate To People's Unlimited Wants 4. Water is Necessary or Humans’ Physical Survival If we say that demand has increased, we mean that there has been Select one: 2. Leftward Shift Of The Demand Curve b.A Leftward Movement Along The Demand Curve A Rightward Movement Along The Demand Curve © LA Rightward shift Of The Demand Cuve Economics isthe study of Select one ‘2. How Individuals Amass Personal Fortunes In The Stock Market © How individuals And Nations Deal With The Problem Of Scarcity «Role That Money Pays In The Economy {d, How The Human Race Differs From Other Species Ifa fiem isa natural monopoly. ts Select one «2. Long-Run Average Cost increases Over The Full Range Of Market Demand ». Long-Run Average Cost Declines And Marginal Cost Rises Over The Full Range Of Market Demand, © c Long-Run Average Cost Declines Over The Full Range Of Market Demand 4, Total Fixed Cost Declines Over The Full Range Of Market Demand, ‘cash payments for ste! tobe used in production of two wieelers would be an example of Select one: a. Implicit Costs b. Sunk Costs © cexplct costs 6. Fixed Costs {At the point where diminishing marginal returns set in, the slope ofthe total product curve is Select one: 2. Negative And increasing © '. Postve And Decreasing, Negative And Decreasing 6. Posteve And Increasing [Amovement upward and to the lft along the money demand curve is caused by Select one: a. a decrease in real GOP an increase in real GDP ca decrease inthe interest rate 4. an increase inthe interest rate It Ford raises the price ofits automobiles, the demand curve for GM automobiles Select one: 2, becomes more east b.ts unaffected shifts tothe let shits tothe right Which of the folowing is mos likely produced in a monopolisticaly competitive market? Select one: {computer chips b. detergents firewood d. motorayces Which ofthe folowing isthe best example ofan intermediate good or service? Select one: 2. egal services hired by a public accounting firm any good bought by ahouschovd, rather than a firm pizzas bought ata restaurant 4. sunglasses worn on a summer vacation in Florida ‘Suppose that storage cost increase, so that firms decide to hold less output in inventory, other things constant. Which of the following is Select one: ‘investment will ineresce ». investment will decrease «consumption spending will increase

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