On This Page

This set of Principles of Micro Economics Multiple Choice Questions & Answers (MCQs) focuses on Principles Of Micro Economics Set 6

Q1 | The Wealth of Nations is the work of:
Q2 | Indifference Approach is related with:
Q3 | Which one of the following is an example of close substitute:
Q4 | The addition to the total revenue by the sale of an additional unit is:
Q5 | Which cost is to be incurred by a firm even if output is zero:
Q6 | The marginal utility theory is contributed by:
Q7 | The factor earning of entrepreneur is:
Q8 | The Scarcity definition of Economics is the contribution of:
Q9 | Average Revenue is equal to:
Q10 | Total Revenue is the maximum when Marginal Revenue is ----------
Q11 | Market economy is also known as:
Q12 | For complementary goods, the cross elasticity of demand:
Q13 | Relation between price of a commodity and demand for another commodity ismeasured by:
Q14 | The demand curve for Giffen’s goods:
Q15 | When Q = f (P), the elasticity coefficient is measured by:
Q16 | Income elasticity of demand for inferior goods is:
Q17 | In the case of luxury goods, the income elasticity of demand will be:
Q18 | Income elasticity is positive, but less than unity in the case of:
Q19 | The change in demand is due to the change in :
Q20 | Supply curve represents -------- relationship between quantity and price
Q21 | A market:
Q22 | The market equilibrium for a commodity is determined by:
Q23 | A fall in the price of the commodity holding everything else constant resultsin:
Q24 | When the price of the substitute commodity of X falls, the demand for X:
Q25 | If the income elasticity of demand is greater than one, then the commodity is: