Demand and Supply Mcqs Test 08 Preparation Online Leave a Comment / Economics / By Shani Malik Demand and Supply Mcqs Test 08 Preparation Online 1. A significant property of the Cobb - Douglas production function is that the elasticity of substitution between inputs is?A. More than unity B. Less than unity C. ZeroD. Equal to unity Loading... 2. The production techniques are technically efficient?A. Between the two ridge lines B. On the upper ridge lineC. Below the lower ridge line D. Above the upper ridge line Loading... 3. Which of the following cost curves is never Un-shaped?A. Average fixed cost curveB. Average variable cost curve C. Marginal cost curve D. Average cost curve Loading... 4. A vertical supply curve parallel to the price axis implies that the elasticity of supply is?A. Greater than zero but less than infinityB. Zero C. Equal to one D. Indinity Loading... 5. An ISO-product curve slopes?A. Downward to the left B. Upward to the rightC. Downward to the right D. Upward to the left Loading... 6. Which cost increases continuously with the increase in production?A. Fixed cost B. Marginal cost C. Variable costD. Average cost Loading... 7. The supply of a commodity refers to?A. Total existing stock of the commodity B. Amount of the commodity offered for sale at a particular price per unit of timeC. Actual production of the commodity D. Stock available for sale Loading... 8. In the short term, when the output of a firm increases, its average fixed cost?A. Increase B. Remains constant C. Decrease D. First declines and then rises Loading... 9. Production is a function of?A. Costs B. ProfitsC. Inputs D. Price Loading... 10. Total costs in the short-term are classified into fixed costs and varibale costs. Which one of the following is a variable cost?A. Payment of rent on buildingsB. Cost of raw materials C. Cost of equipment D. Interest payment on past borrowing Loading... Loading... Related NTS Results Post:Islamabad Electric Supply Company IESCO NTS Jobs Results…Faisalabad Electric Supply Company FESCO Lineman CTS Jobs…Faisalabad Electric Supply Company FESCO Bill Distributor…Biology Mcqs Test 07 Online PreparationIslamiat Mcqs Test 01 Online PreparationBiology Mcqs Test 15 Online PreparationBiology Mcqs Test 14 Online PreparationBiology Mcqs Test 12 Online Preparation