CSS Economics Solved Mcqs

Q.  Microeconomics deals with the:

a. Allocation of resources of the economy as between production of different goods and services
b. Determination of prices of goods and services
c. Behaviour of industrial decision makers
d. All of the above


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MCQs:  The elasticity of substitution between two perfect substitutions is:
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MCQs:  The consumer is in equilibrium at a point where the budget line:
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MCQs:  An indifference curve slopes down towards right since more of one commodity and less of another result in:
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MCQs:  The Revealed Preference Theory deduces the inverse price-quantity relationship from:
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MCQs:  Which of the following statements is incorrect?
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MCQs:  Production is a function of:
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MCQs:  An ISO-product curve slopes:
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MCQs:  A vertical supply curve parallel to the price axis implies that the elasticity of supply is:
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MCQs:  The supply of a commodity refers to:
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MCQs:  Which cost increases continuously with the increase in production?
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MCQs:  Which of the following cost curves is never Un-shaped?
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MCQs:  Total costs in the short-term are classified into fixed costs and varibale costs. Which one of the following is a variable cost?
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MCQs:  In the short term, when the output of a firm increases, its average fixed cost:
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MCQs:  A significant property of the Cobb - Douglas production function is that the elasticity of substitution between inputs is:
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MCQs:  The production techniques are technically efficient:
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MCQs:  Which of the following is not a feature of iso-product curves? Iso-product curves:
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MCQs:  Some economists refer to iso-product curves as:
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MCQs:  Which one of the following is also known as plant curves?
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MCQs:  What is the shape of the average fixed cost (AFC) curve?
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MCQs:  An increase in the supply of a commodity is caused by:
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