ECO401 Economics MCQS virtual University.eco401 midterm solved mcqs papers by moaaz.eco401 finalterm solved mcqs papers by moaaz
B. Cost of production
C. The overall state of the economy
D. Consumerâ€™s income
Other firms will reduce their price.
B. Other firms will compete on a non-price basis.
C. Other firms will not increase their price.
D. Other firms will increase their output level.
Surplus of goods
B. Market failure
D. Shortage of good
Price < Average Variable Cost.
B. Price < Average Total Cost.
C. Price = Average Total Cost.
D. Price > Average Variable Cost.
The demand curve for automobiles shifts to the right.
B. The supply curve for automobiles shifts to the right.
C. The demand curve for automobiles shifts to the left.
D. The supply curve for automobiles shifts to the left.
D. None of the given
Marginal utility of wheat falls
B. The total physical product of wheat falls
C. The marginal physical product of wheat falls
D. The marginal physical product of wheat increases
Greater than 0
B. Greater than 1
C. Less than 1
D. Less than 0