Economics - Study Mode

[#426] The law of variable proportion is valid when
Correct Answer

(A) Only one input is fixed and all other inputs are kept variable

[#427] The finance commission is organized every
Correct Answer

(D) Five years

[#428] Barriers to entry are highest, in which two types of markets?
Correct Answer

(D) Oligopoly and monopoly

[#429] Consider the following statements. 1. MP is also called MPP. 2. Physical product refers to production as measured in terms of physical units of the commodity. 3. TP increases even when MP is decreasing. Which of the statement(s) given above is/are correct?
Correct Answer

(D) All of the above

[#430] Marginal revenue is equal to the price for which one of the following types of market structure?
Correct Answer

(B) Perfect competition