Questions

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:

_________ 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
 
Answer & Explanation Answer: B) Law of variable proportions

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Q:

The ________ curve represents the demand of all consumers in the market taken together at different levels of the price of the good.

A) monotonic B) indifferent
C) market demand D) diminishing
 
Answer & Explanation Answer: C) market demand

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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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Q:

The demand curve facing a perfectly competitive firm is

A) downward sloping B) perfectly inelastic
C) a concave curve D) perfectly elastic
 
Answer & Explanation Answer: D) perfectly elastic

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Q:

Read each sentence to find out whether there is any error in any underlined part and indicate your response in the Answer Sheet against the corresponding letter i.e., (a) or (b) or (c). If you find no error, your response should be indicated as (d).

A) The peon B) has not sweeped
C) the floor today. D) No error
 
Answer & Explanation Answer: D) No error

Explanation:

The given sentence is grammatically correct and there is no error.

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Q:

T cell activation requires

A) T cell receptor (TCR) B) PTK function
C) APC  D) All the above
 
Answer & Explanation Answer: A) T cell receptor (TCR)

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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.


To begin______, let us ask ___________ such an appellation, assuming it has only positive___________, was ever deserved in a city like Bengaluru. At the risk__________ earning the well-shaped wrath of fellow Bengalureans, let me explain that______ for a "peacefull" past apart, it would be difficult to assert that "Asia's Silicon Valley" had even a history of toleration of difference.


let us ask ___________ such an appellation

A) whether B) if
C) even if D) in case
 
Answer & Explanation Answer: A) whether

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