Economics - Study Mode
[#846] Match List-I with List-II and select the correct answer: List-I List-II a. Real cost 1. Aggregate of accounting costs and implicit costs b. Money cost 2. Physical quantities of factors used in production c. Opportunity Cost 3. Monetary expenditure on inputs d. Economic cost 4. Sacrifice of alternative use of given resources
Correct Answer
(B) a-2, b-3, c-4, d-1
[#847] Which of the following types of firms are likely to be monopolistic competitors?
Correct Answer
(C) Restaurant
[#848] Which two of the following statements are correct? I. In the short - run, ∆TFC = 0, therefore ∆TC = ∆TVC II. If decrease in AFC < increase in AVC, then AC decreases III. If decrease in AFC = increase in AVC, AC remains constant IV. If decrease in AFC > increase in AVC, then AC increases Choose the correct answer from the options given below
Correct Answer
(A) I and III
[#849] A market demand schedule for a product indicates that
Correct Answer
(D) There is an inverse relationship between price and quantity demanded
[#850] Which among the following is not a correct combination?
Correct Answer
(D) Industrial Policy Statement - 1991