ss 2 ecoms 2198

Which of the following is a measure of dispersion?

A. Variance B. Graph C. Mean D. Median

The algebraic notation Q = f(p) means that _______.

A. quantity (Q) is a function (f) of price (P) B. quantity (Q) is equal to a function (f) of price (P)

C. quantity (Q) is equal to function (f) multiplied by price (P) D. quantity (Q) is directly proportional to price (P) as a function (f)

When the marginal product is zero, total product must be _____.

A. maximum B. positive C. negative D. increasing E. minimum

The marginal and average products are equal when the average product is _____.

A. falling B. rising C. at a minimum D. at a maximum E. constant

The standard deviation of an ungrouped data is calculated by using the formula.

A. √∑(x – x-)2 /n B. ∑f(d)/∑f C. ∑(x – x)-2 D. ∑(x – y)-2

The profit of the producer is the different between the_______ a)TC and MC b)TR and TC c)AC and TC d)price and total cost

Which of the following will increade the demand for labour? a)increase wage rate b) labour demand for output c) low wages rate d) low marginal productivity

Which of the following statement is correct?(a)as total utility increases the marginal utility also increases (b)the marginal utility is always zero whenever the total utility reaches the maximum (c)the total utility is at maximum whenever the marginal utility is at its minimum(d)there is no relationship between total utility and the marginal utility

The allocation of goods and services in a free market economy is performed by (a) the price system (b) the banking system (c) the central planning body (d) government

The total amount of satisfactiona consumer derives from the consumption ofa particular goodsat a particular point in time is known as_______utility. a)total b)average c) marginal d)total average