CPTmocktest

A market structure in which many firms sell product that are similar, but not identical.

In inductive method, logic proceeds from __

The most important function of an
entrepreneur is to _______.

Price discrimination will not be profitable if elasticity of demand is___ in different markets.

————- is the another name of PPC

In case of Straight Line demand curve meeting two axes, the Price Elasticity of demand at a
point where the curve meets x-axis would be

Average Cost of Producing 50 units of a Commodity is Rs.250 and fixed cost is Rs.1000.
What will be the average fixed cost of producing 100 units of the Commodity?

Linear Homogeneous Production function is based on ____

Output (0) 0 1 2 3 4 5 6
Total Cost
(TC) 240 330 410 480 540 610 690

Use the above data to answer the following question
The marginal cost of the sixth unit of output is—

Positively sloped (i.e. rising) part of long run Average Cost Curve is due to which of the
following _____

Elasticity of Supply is greater than one when

“The excess of Price which he would be willing to pay rather than go without the thing over
that which he actually does pay in the economic measure of his surplus satisfaction” is given by

The firm in a perfectly competitive market is a “price taker”. This designation as a “price
taker” is based on the assumption that:

The Economy achieves ‘Productive Efficiency’ when:

Kinked demand curve of the Oligopoly indicates
I) If one firm decreases price other firms also decreases the price. II) If one firm increases price other firms also
increases the price. III) If one firm decreases the price other firms does not decrease the price. IV) If one firm increases the price other firms
does not increase the price.

When the price of commodity is Rs.20/- quantity demand is 9 units; and when price is
Rs.19, quantity demanded is 10 units. Based on this information, what is marginal revenue
resulting from an increase in output from 9 units to 10 units.

If the quantity demanded of the good increases by 5% when the price another good
increases by 20%, then the cross price elasticity of demand between two goods is ___

A company produces 10 units of output and incurs Rs.30 per unit of variable cost and Rs.5
per unit of fixed cost. In this case total cost is:

AFC curve is always _______

In case of law of variable proportions, diminishing returns occur.

In Long run which of the following is true for a perfect competition

In which year SEZ policy was announced?

The share of agriculture in India’s National Income has ____ over the years

In which year Income tax was first introduced_

Which of the following is a type of inflation?

Which of the following is not a function of Commercial Banks?

Special drawing rights were created in 1969 by

In which of the following areas, 100% FDI was not allowed?

Which of the following is not a scheme to reduce poverty in India?

Which among the following functions, money serves in the dynamic sense?