Microeconomics Quiz 2

Welcome to your Microeconomics Quiz 2. I am your host Alok Aditya. Attempt these MCQ type questions to view your score. Please find the other quizzes by following this link.

https://www.easilyeconomics.com/quiz/

 

1. 
Consumer reaches saturation point when marginal utility is

2. 
Suppose price of bulb increased from Rs. 50 to Rs. 75 per bulb and as a result quantity demanded decreased from 10 unit to 7 unit what will be the elasticity of demand

3. 
The price mechanism does not act as a

4. 
Extension of Curnot model is

5. 
The concept of interdependence of market refers to interdependence between

6. 
Assume that in the short run firm is producing 100 units of output, has average total costs of Rs. 200 and average variable costs of Rs. 150. The firm has total fixed costs

7. 
The income elasticity is +2 and income increased by 20%. Sales were 5000 units, what will they be now?

8. 
Sellers are myopic about their demand curve in case of

9. 
Factor intensity is a

10. 
Supply of loanable funds includes

11. 
According to dynamic theory of profit, profit arises due to

12. 
Equilibrium in market for good A obtains

13. 
If maximum price is set below equilibrium there will be

14. 
The market demand and supply function of a perfect competitive firm is Q(d) = 4750-50P and Q(s) = 1750+ 50P respectively. what will be the equilibrium price?

15. 
What is the principle applied to redress the imbalance between distribution and welfare?

3 thoughts on “Microeconomics Quiz 2

  • September 5, 2020 at 10:20 PM
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    Answer of mcqs 2 is wrong its 0.8

    Reply
    • September 6, 2020 at 2:25 AM
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      Hello Hafsah, please do it again. It’s 0.6 formula = P/Q*∆Q/∆P

      Reply

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