ECO404 Final Term Objective

Re-Checked File with 100% sure Answers

Q1. of 20 ( Start time: 07:46:59 PM ) Total Marks: 1

Current cost is the cost which is paid according to the: Market conditions Firm’s conditions Demand conditions Supply conditions

Q2. of 20 ( Start time: 07:47:28 PM ) Total Marks: 1

Cournot oligopoly model was developed in: 1830 1838 1840 1845

Q3. of 20 ( Start time: 07:48:19 PM ) Total Marks: 1

The total cost (TC) function is given as: TC = 300 + 20Q. What is the average total cost?

20Q 20 + (300/Q) 20/Q + 300

Q4. of 20 ( Start time: 07:48:56 PM ) Total Marks: 1

Firms are price makers in which of the following market structures?

Monopoly Oligopoly

Q5. of 20 ( Start time: 07:49:33 PM ) Total Marks: 1

Which of the following is a behavioral equation?

GNP = C + I + G St = b0 + bt Rt + u1 Profit = TR – TC

Q6. of 20 ( Start time: 07:49:53 PM ) Total Marks: 1

In the satisfying model, the goal of the firm that there must be a satisfactory size of market share, is known as:

Production goal Inventory goal Market share goal Profit goal Market share Goal: A goal indicating a satisfactory size of market share as a measure of comparative success as well as of the growth of the firm.

Q7. of 20 ( Start time: 07:50:18 PM ) Total Marks: 1

What will happen if there is an increase in wage rate?

Short run cost curve will shift upward Short run cost curve will shift downward There is movement along the short run cost curve No change will happen in the cost curve Any change in the operating environment leads to a shift in short-run cost curves. For example, a general rise in wage rates leads to an upward shift; a fall in wage rates leads to a downward shift.

Q8. of 20 ( Start time: 07:51:29 PM ) Total Marks: 1

If inputs are perfect compliments, it means that Isoquants are:

Straight lines L-shaped

Negatively sloped

Q9. of 20 ( Start time: 07:51:54 PM ) Total Marks: 1

In which of the following situation, firm can extract all the consumers’ surplus?

First degree price discrimination Second degree price discrimination Third degree price discrimination

Q10. of 20 ( Start time: 07:52:23 PM ) Total Marks: 1

Optimal allocation of limited resources can be determined by using the tools and concepts of:

Managerial economics Financial economics Mathematical economics Development economics