This is a SAMPLE UGC NTA NET ECONOMICS Quiz. There are a total 10 questions of 2 marks each. Go for it. All the best
1.
If the monopoly profits were to add to costs so that costs equalled revenue, even if the average cost curve exclusive of profits was raising the average cost curve obtained from the first operation is
2.
Opportunity cost refers to
3.
Pareto optimality condition will hold if
4.
Monopolistic competition has features of
5.
The substitution effect works to encourage a consumer to purchase more of a product when the price of that good is falling because
6.
If MRS between two goods X and Y is equal for all consumers, then this is the marginal condition for a Pareto optimal
7.
Law of diminishing marginal rate of substitution is associated with
8.
MU curve will be below x-axis when
9.
Shut down point for a firm is a situation where its
10.
A factor of production is said to be superior if its expenditure elasticity
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