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Microeconomics Revision

Authored by Nikhila M

Other

11th Grade

Used 3+ times

Microeconomics Revision
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34 questions

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1.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

______ Competition is a form of market where there is large number of buyers and sellers of a commodity. Homogeneous Product is sold and it's price is determined by the market forces of supply and demand. An individual buyer or seller has no control over price

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_______refers to money receipts of the producer from the sale of his output

Bills of Exchange

Revenue

Supply

Profit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If 100 ice cream slabs are sold at the rate of Rs. 100 per slab, total revenue of the firm will be?

100

1000

10,000

5,000

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  If TR = Rs. 2,000 and Q = 200, the AR is?

10

4,00,000

1,800

2,200

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

    ______ refers to a market where there are large numbers of buyers and sellers?

Perfect Competition

Perfect Revenue

Monopoly

Firm

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

   If TR = 20,000 when 10 units of a commodity is sold and is 33,000 when 11 units of a commodity is sold, then what is the marginal revenue?

10,000

12,000

13,000

14,000

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

    For perfectly competitive firm, price is:

a.Greater than MR

b.Equal to AR

c.Equal to MR

Both b. and c.

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