Q:

A manufacturer faces price elasticity of demand of a 1.25 for its product. If it lowers its price by 6.4%, the increase in quantity sold will be _____.

A) 5.15 percent	B) 7.65 percent
C) 8 percent	D) 5.12 percent

Answer & Explanation Answer: C) 8 percent

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Filed Under: Indian Economy
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Q:

What are the organs similar in basic structure/shape, modified to perform different functions called?

A) Analogous organs	B) Homologous organs
C) Heterogeneous organs	D) Homogenous organs

Answer & Explanation Answer: B) Homologous organs

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Filed Under: Biology
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Q:

Which hormone is released from the testes?

A) Insulin	B) Testosterone
C) Thyroxin	D) Estrogen

Answer & Explanation Answer: B) Testosterone

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Filed Under: Biology
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Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If asentence is free from error, select 'No Error'.

She picked (1)/ on the (2)/ trail soon after. (3)/ No error (4)

A) 1	B) 2
C) 3	D) 4

Answer & Explanation Answer: B) 2

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Q:

For each perfectly competitive firm in the long run

A) price = marginal costs = average variable costs	B) price = average profit
C) price = marginal costs = minimum average total costs	D) price = minimum average variable costs

Answer & Explanation Answer: C) price = marginal costs = minimum average total costs

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Q:

The law of demand states that

A) if the price of a good increases, the demand for that good decreases.	B) if the price of a good increases, the the demand for that good increases.
C) if the price of a good increases, the quantity demanded of that good decreases.	D) if the price of a good increases, the quantity demanded of that good increases.

Answer & Explanation Answer: C) if the price of a good increases, the quantity demanded of that good decreases.

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Q:

The __________ exchange rate is the price of one unit of foreign currency in terms of domestic currency.

A) Artificial	B) Nominal
C) Fixed	D) Real

Answer & Explanation Answer: B) Nominal

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Q:

_________ says that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling.

A) Law of diminishing marginal product	B) Law of variable proportions
C) The Short Run	D) The Long Run

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