Mathematical Tools For Economics 2 Set 2
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This set of Mathematical Tools for Economics 2 Multiple Choice Questions & Answers (MCQs) focuses on Mathematical Tools For Economics 2 Set 2
Q1 | The ratio of capital to labour is called
- average product of labour
- average product of capital
- factor intensity
- none of these
Q2 | For profit maxmisation we must have
- mr = mc
- mc curve cut mr curve from below
- both a and b
- none of these
Q3 | For a function y = f(x1,x2), the total differential is given by
- dy = f1dx1 + f2dx2
- dy = f1dx2 + f2dx1
- both a and b
- none of these
Q4 | The nature of tax multiplier is
- positive
- zero
- negative
- none
Q5 | The inflexion points of the function y = x3 – 3x2 + 5 is at
- 3
- 6
- 1
Q6 | If marginal revenue is Rs.25/- and elasticity of demand w.r.t price is 2, then the averagerevenue is
- 50
- 25
- 75
- 100
Q7 | The output of a firm, with given prices of factors of production is decided so that the totalcost is
- maximum
- balanced
- minimum
- positive
Q8 | The minimal value of the function y = x4 – 4x3 + 16x is at
- -1
- 2
- -2
- 1
Q9 | For two goods 1 and 2, if E12 > 0 implies that the two goods are
- complementary
- substitutes
- supplementary
- giffen goods
Q10 | If fxxfyy < (fxy)2 when fxx and fyy are of the same sign, then the function is at
- minimum point
- maximum point
- inflexion point
- saddle point