Economics - Practice Test | ExamPrepSheets

(A) Economies of scale

(B) Normative economies

(C) Diminishing marginal returns

(D) Increasing marginal product of labour

(A) Economies of scale

(A) a less than proportionate change in quantity demanded

(B) a more than proportionate change in quantity demanded

(C) the same proportionate change in demand

(D) no change in demand

(D) no change in demand

(A) $$frac{{M{U_x}}}{{{P_x}}} = frac{{M{U_y}}}{{{P_y}}} = frac{{M{U_z}}}{{{P_z}}}$$

(B) $$frac{{M{U_x}}}{{M{U_y}}} = frac{{M{U_y}}}{{M{U_z}}} = frac{{M{U_z}}}{{M{U_x}}}$$

(C) $$frac{{M{U_x}}}{{M{U_y}}} = frac{{{P_x}}}{{{P_y}}} = frac{{M{U_x}}}{{{P_z}}}$$

(D) $$frac{{M{U_x}}}{{{P_y}}} = frac{{M{U_y}}}{{{P_z}}} = frac{{M{U_z}}}{{{P_x}}}$$

(A) $$frac{{M{U_x}}}{{{P_x}}} = frac{{M{U_y}}}{{{P_y}}} = frac{{M{U_z}}}{{{P_z}}}$$

(A) Judgemental forecast

(B) Time series forecast

(C) Both A and B

(D) All of the above

(A) Judgemental forecast

(A) a-1, b-2, c-3, d-4

(B) a-3, b-1, c-2, d-4

(C) a-4, b-3, c-1, d-2

(D) a-2, b-1, c-4, d-3

(B) a-3, b-1, c-2, d-4

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