Questions? Feedback? powered by Olark live chat software

Micro-economics (1)

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.

Law of diminishing marginal rate of substitution is associated with

2.

The substitution effect works to encourage a consumer to purchase more of a product when the price of that good is falling because

3.

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

4.

Shut down point for a firm is a situation where its

5.

Pareto optimality condition will hold if

6.

Opportunity cost refers to

7.

If MRS between two goods X and Y is equal for all consumers, then this is the marginal condition for a Pareto optimal

8.

A factor of production is said to be superior if its expenditure elasticity

9.

MU curve will be below x-axis when

10.

Monopolistic competition has features of