WorksheetsCOST AND MARKET ANALYSIS
Total questions: 10
Worksheet time: 10mins
WHICH OF THE FOLLOWING COSTS IS CONSIDERED AS THE COST OF PRODUCTION FOR A PRODUCTION UNIT IN ECONOMICS THEORY ?
ACCOUNTING COST
REAL COST
EXTERNAL COST
ECONOMIC COST
What makes the total cost curve run parallel with the total variable cost in the short run production unit?
The total fixed cost remains same always
The total cost curve depends on the total variable cost with the change in the level of output only.
The total cost curve follows the law of increasing returns
The total cost curve is inverted S shaped.
When Akhil, Eshaan, and Saisha work together, why does the total variable cost first increase at a decreasing rate?
The fixed factor gets employed
The variable factor starts using the fixed factor efficiently
The variable factor keeps on increasing as to raise the output
Labour effectively works with the given set of technology
Which of the following costs follow the law of variable proportions?
TFC
AFC
MC
ATC
HOW IS A OLIGOPOLIST MARKET STRUCTURE DIFFERENT FROM A MONOPOLIST MARKET STRUCTURE ? STATE ATLEAST 4 POINTS TO POINT OUT THE DIFFERENCE .
What is the demand curve for an oligopolist market structure?
Definite
Perfectly Elastic
Unitary
Undefined
What makes the market of a perfectly competitive market and a monopolistic market different?
Freedom of entry and exit
Larger number of sellers than buyers
Larger number of homogenous products
Differentiated products
STATE THE 3 MAJOR PROPERTIES OF THE ATC ,AVC & AFC CURVE IN THE SHORT RUN PRODUCTION UNIT
WHICH OF THE FOLLOWING FACTORS RESULT IN THE NEGATIVE RETURNS OF THE PRODUCTION UNIT
OVERCROWDING
INEFFICIENCY OF THE VARIABLE FACTORS IN THE LONG RUN
FULLER UTILISATION OF THE RESOURCES
TECHNOLOGY BECOMES OBSOLETE
STATE THE STAGES OF THE LAW OF VARIABLE PROPORTIONS WITH RESPECT TO MARGINAL PRODUCT AND TOTAL PRODUCT ONLY
