Business Economics Question with Answer

11. Which of the following does not have non linear shape?

  1. Total fixed cost curve
  2. None of above
  3. Total cost curve
  4. Total Variable cost curve

12. which method of data collection covers the widest area?

  1. Direct Interview
  2. All of these
  3. Telephone Interview
  4. Mailed Questionnaire

13. When the price of a complementary of commodity X falls, the demand for X

  1. Remains unchanged
  2. Any of the above
  3. Falls
  4. Rises

14. When marginal product (MP) & average product (AP) both falls

  1. MP Lies below AP
  2. None of above
  3. AP lies below MP
  4. AP & MP intersect

15. Under a Command economy

  1. Both a & b
  2. Neither a nor b
  3. State plays a major role
  4. Market plays major role

16. Uncommon thing between law of variable proportions & returns to scale is

  1. Constant Returns
  2. None of above
  3. Increasing Returns
  4. Decreasing Returns

17. Total Product, Marginal Product & Average Product for 1st unit of labor aree

  1. Unable to be determined
  2. None of above
  3. Identical
  4. Different

18. To economists, the common thing between the short run and the long is that

  1. In both, production is absent
  2. None of above
  3. In both, capital is fixed
  4. In both, labor is variable

19. The unit of measurement in tabulation is shown in

  1. Caption
  2. stub
  3. Box head
  4. Body

20. The rising part of the LAC curve is due to which of the following?

  1. The coordination problems in firm
  2. Diseconomies of scale
  3. Economies of scale
  4. Diminishing returns

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