Q:

A manufacturer faces price elasticity of demand of a -2 for its product. If it lowers its price by 5%, the increase in quantity sold will be

A) 3%	B) 10%
C) 2.50%	D) 7%

Answer & Explanation Answer: B) 10%

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Q:

Name the first Indian to get Nobel prize in economics.

A) Amartya Sen	B) C V Raman
C) Mihir Sen	D) Arun Shourie

Answer & Explanation Answer: A) Amartya Sen

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Q:

If tea companies start using mechanised tea leave pickers

A) more people would want to work as tea leave pickers	B) unemployment of tea leave pickers will decrease
C) more tea will be produced per acre	D) then wages for manual tea leave pickers will fall

Answer & Explanation Answer: D) then wages for manual tea leave pickers will fall

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Q:

Calculate the economic profit for a firm if it's total revenues are Rs. 35 crores, explicit costs are Rs. 7 crores, and implicit costs are Rs. 10 crores.

A) Rs. 32 crores	B) Rs. 52 crores
C) Rs. 18 crores	D) Rs. 38 crores

Answer & Explanation Answer: C) Rs. 18 crores

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Q:

Which of the following best describes monetary policy?

A) Managing the economy by controlling the money supply	B) Determining the design printed on the national currency
C) Regulating transactions in the currency exchange market	D) Raising and lowering the foreign exchange rate

Answer & Explanation Answer: A) Managing the economy by controlling the money supply

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Q:

The maximum number of electrons that can be accommodated in M shell is

A) 8	B) 2
C) 18	D) 32

Answer & Explanation Answer: C) 18

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Filed Under: Chemistry
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Q:

Fertilisation of sperm with the ovum takes place in

A) Uterus	B) Cervix
C) Fallopian Tube	D) Ovary

Answer & Explanation Answer: C) Fallopian Tube

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Filed Under: Biology
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Q:

The essential organs in a flower for reproduction are

A) the stamen and pistil	B) the sepal and stamen
C) the sepal and petal	D) the petal and pistil

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