Demand and Supply Mcqs Test 08 Preparation Online

Test Instructions

Demand and Supply Mcqs Test 08 Preparation Online

1. Production is a function of?
A.
B.
C.
D.

2. In the short term, when the output of a firm increases, its average fixed cost?
A.
B.
C.
D.

3. A significant property of the Cobb - Douglas production function is that the elasticity of substitution between inputs is?
A.
B.
C.
D.

4. A vertical supply curve parallel to the price axis implies that the elasticity of supply is?
A.
B.
C.
D.

5. Which of the following cost curves is never Un-shaped?
A.
B.
C.
D.

6. An ISO-product curve slopes?
A.
B.
C.
D.

7. The production techniques are technically efficient?
A.
B.
C.
D.

8. Which cost increases continuously with the increase in production?
A.
B.
C.
D.

9. Total costs in the short-term are classified into fixed costs and varibale costs. Which one of the following is a variable cost?
A.
B.
C.
D.

10. The supply of a commodity refers to?
A.
B.
C.
D.


 

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