Demand and Supply Mcqs Test 08 Preparation Online

Test Instructions

Demand and Supply Mcqs Test 08 Preparation Online

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

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

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

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

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

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

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

8. 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.

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

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


 

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