Economics - Study Mode
[#1146] Match the following. List-I List-II a. Fixed costs 1. Fall at first and then rise as the firm approaches full capacity b. Variable costs 2. Continue to fall at rate proportionate with the increase in output c. Total costs 3. Are those costs which do not increase as output increases d. Average total costs 4. Are the amount paid to all the factors employed in producing the output e. Average fixed costs 5. Are those costs which increase as output increase
Correct Answer
(A) a-3, b-5, c-4, d-1, e-2
[#1147] "Each firm produces an identical product and there is freedom of entry and exit". This is true for which of the following market structures?
Correct Answer
(C) For perfect competition
[#1148] Assuming a downward-sloping demand curve and upward sloping supply curve, a higher equilibrium price may be caused by
Correct Answer
(A) A fall in demand
[#1149] Which one of the following is not helpful in increasing productivity?
Correct Answer
(A) Increase in capital product ratio
[#1150] Who is the 'lender of the last resort' in the banking structure of India?
Correct Answer
(B) Reserve bank of India
Explanation
Solution: Reserve bank of India is the 'lender of the last resort' in the banking structure of India. A lender of last resort is an institution, usually a country's central bank, that offers loans to banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky or near collapse.