Economics - Practice Test | ExamPrepSheets

(A) which compels an entrepreneur to remain in the same industry

(B) profits which are not more or less than 10 p.c. of the working capital

(C) profits which are not less or more than 10 p.c. of the total capital

(D) profits which are so fixed by the government

(A) which compels an entrepreneur to remain in the same industry

(A) total satisfaction will decrease as more units of the good are consumed

(B) the satisfaction derived from each additional unit of a good consumed will decrease

(C) total utility will become negative

(D) Both A and C

(B) the satisfaction derived from each additional unit of a good consumed will decrease

(A) Inflation rate

(B) Gross product level

(C) Interest rate

(D) Discount rate

(C) Interest rate

(A) they are equally elastic

(B) the steeper curve is more elastic

(C) the flatter curve is more elastic

(D) their elasticity cannot be compared

(C) the flatter curve is more elastic

(A) Decreasing and negative

(B) Increasing and negative

(C) Decreasing and positive

(D) Increasing and positive

(C) Decreasing and positive

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