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This set of Mathematical Economics Multiple Choice Questions & Answers (MCQs) focuses on Mathematical Economics Set 5

Q1 | ______ function expresses the relationship between price of the good and quantity of thegood demanded.
Q2 | ______ function expresses the relationship between price of the good and quantity of thegood supplied.
Q3 | Function which map the relation between the physical measure of money and the perceivedvalue of money is _____
Q4 | _______ function was designed by J M Keynes to show the relationship between realdisposable income and consumer spending.
Q5 | Given the consumption function C = a + bY, where ‘a’, the intercept, represents_____
Q6 | Given the consumption function C = a + bY, the slope ‘b’ represents:
Q7 | For equilibrium market, the condition is____
Q8 | Given TR = 10x, TC = 5x+2, profit function is :
Q9 | Demand function for a commodity is D = 44 – 7P and supply function S = 2P –10, then theequilibrium price is:
Q10 | If u = xnis total utility, the functions of marginal utility u will be:
Q11 | When the total revenue functions is R = 100−X2, the marginal revenue is :
Q12 | The cost per output is given by C = 2x + 27. Then the marginal cost when x = 5 is:
Q13 | When elasticity of demand is 2, the demand will be:
Q14 | The Price elasticity of demand for a product is 1.5 and its MR = 8, find its price:
Q15 | The elasticity of demand for the demand curve of a firm under perfect competition is
Q16 | Given a total utility function, Marginal utility is obtained by finding ______
Q17 | Mathematically ____ is the first derivative of the consumption function.
Q18 | ____ indicates what proportion of the increased income will be saved.
Q19 | _____ measures the change in TP due to a one unit change in the quantity of labour used:
Q20 | ____ refers to the change in total cost (TC) due to the production of an additional unit ofoutput.
Q21 | 𝑀𝑃𝐿 𝑀𝑃𝐾 = ____
Q22 | The slope of ___curve will be positive if and only if the marginal cost curve lies above theAC curve.
Q23 | At a price of Rs11.00, quantity demanded is 90; and at a price of Rs.9.00, quantity demandedis 110. The price elasticity of demand is:
Q24 | For complementary goods the cross elasticity of demand will be ______
Q25 | Necessities have _____ elasticity of demand of between 0 and +1.