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This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.
| 7301. |
Which of the following is a source of secondary data ? |
| Answer» <html><body><p>Government publication <br/><a href="https://interviewquestions.tuteehub.com/tag/private-11896" style="font-weight:bold;" target="_blank" title="Click to know more about PRIVATE">PRIVATE</a> publication <br/><a href="https://interviewquestions.tuteehub.com/tag/report-25448" style="font-weight:bold;" target="_blank" title="Click to know more about REPORT">REPORT</a> <a href="https://interviewquestions.tuteehub.com/tag/published-593505" style="font-weight:bold;" target="_blank" title="Click to know more about PUBLISHED">PUBLISHED</a> by the <a href="https://interviewquestions.tuteehub.com/tag/state-21805" style="font-weight:bold;" target="_blank" title="Click to know more about STATE">STATE</a> Bank of <a href="https://interviewquestions.tuteehub.com/tag/india-54" style="font-weight:bold;" target="_blank" title="Click to know more about INDIA">INDIA</a> <br/>All of these </p>Solution :A</body></html> | |
| 7302. |
If the price elasticity of demand for a commodity is less than unity, a decrease in price would result in |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/proportionately-7705336" style="font-weight:bold;" target="_blank" title="Click to know more about PROPORTIONATELY">PROPORTIONATELY</a> <a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> in the quantity demanded.<br/>Prooportionately more <a href="https://interviewquestions.tuteehub.com/tag/inceases-2126268" style="font-weight:bold;" target="_blank" title="Click to know more about INCEASES">INCEASES</a> in the quantity demanded.<br/>Increases in total <a href="https://interviewquestions.tuteehub.com/tag/expenditure-980222" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENDITURE">EXPENDITURE</a> on the product.<br/>none of these.</p>Solution :N/a</body></html> | |
| 7303. |
State one notable property of arithmetic mean. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :A <a href="https://interviewquestions.tuteehub.com/tag/notable-7367824" style="font-weight:bold;" target="_blank" title="Click to know more about NOTABLE">NOTABLE</a> property of arithmetic mean is that the sum of <a href="https://interviewquestions.tuteehub.com/tag/deviations-950387" style="font-weight:bold;" target="_blank" title="Click to know more about DEVIATIONS">DEVIATIONS</a> of different <a href="https://interviewquestions.tuteehub.com/tag/items-1052972" style="font-weight:bold;" target="_blank" title="Click to know more about ITEMS">ITEMS</a> of a series, when deviations are taken from arithmetic mean, is always zero.</body></html> | |
| 7304. |
What do you mean by the budget set of a consumer ? |
| Answer» <html><body><p></p>Solution :A budget set or <a href="https://interviewquestions.tuteehub.com/tag/opportunity-1137192" style="font-weight:bold;" target="_blank" title="Click to know more about OPPORTUNITY">OPPORTUNITY</a> set includes all possible <a href="https://interviewquestions.tuteehub.com/tag/consumption-931383" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMPTION">CONSUMPTION</a> bundles that <a href="https://interviewquestions.tuteehub.com/tag/someone-25657" style="font-weight:bold;" target="_blank" title="Click to know more about SOMEONE">SOMEONE</a> can afford <a href="https://interviewquestions.tuteehub.com/tag/given-473447" style="font-weight:bold;" target="_blank" title="Click to know more about GIVEN">GIVEN</a> the prices of goods and the person's income level. The budget set is bounded above by the budget line.</body></html> | |
| 7305. |
Define arithmetic mean. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/arithmetic-15417" style="font-weight:bold;" target="_blank" title="Click to know more about ARITHMETIC">ARITHMETIC</a> <a href="https://interviewquestions.tuteehub.com/tag/mean-1091459" style="font-weight:bold;" target="_blank" title="Click to know more about MEAN">MEAN</a> is the number which is obtained by <a href="https://interviewquestions.tuteehub.com/tag/adding-2399902" style="font-weight:bold;" target="_blank" title="Click to know more about ADDING">ADDING</a> the values of all the items of a <a href="https://interviewquestions.tuteehub.com/tag/series-1201802" style="font-weight:bold;" target="_blank" title="Click to know more about SERIES">SERIES</a> and dividing the total by the number of items.</body></html> | |
| 7306. |
What are the 2 broaddivisions of short run costs ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :(i) Total <a href="https://interviewquestions.tuteehub.com/tag/variable-1442996" style="font-weight:bold;" target="_blank" title="Click to know more about VARIABLE">VARIABLE</a> Cost (TVC), (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Total <a href="https://interviewquestions.tuteehub.com/tag/fixed-457597" style="font-weight:bold;" target="_blank" title="Click to know more about FIXED">FIXED</a> Cost (<a href="https://interviewquestions.tuteehub.com/tag/tfc-659819" style="font-weight:bold;" target="_blank" title="Click to know more about TFC">TFC</a>).</body></html> | |
| 7307. |
Which of the following is a merit of a good questionnaire ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/difficulty-953306" style="font-weight:bold;" target="_blank" title="Click to know more about DIFFICULTY">DIFFICULTY</a> <br/>Less <a href="https://interviewquestions.tuteehub.com/tag/number-582134" style="font-weight:bold;" target="_blank" title="Click to know more about NUMBER">NUMBER</a> of questions <br/>Not in <a href="https://interviewquestions.tuteehub.com/tag/proper-1169819" style="font-weight:bold;" target="_blank" title="Click to know more about PROPER">PROPER</a> order <br/><a href="https://interviewquestions.tuteehub.com/tag/invalid-2121233" style="font-weight:bold;" target="_blank" title="Click to know more about INVALID">INVALID</a> questions </p>Solution :B</body></html> | |
| 7308. |
The bundles of budget set lie either on or below the budget line. |
| Answer» <html><body><p><br/></p>Solution :Budget set <a href="https://interviewquestions.tuteehub.com/tag/include-11332" style="font-weight:bold;" target="_blank" title="Click to know more about INCLUDE">INCLUDE</a> all the <a href="https://interviewquestions.tuteehub.com/tag/possible-592355" style="font-weight:bold;" target="_blank" title="Click to know more about POSSIBLE">POSSIBLE</a> bundles which cost less than or equal to consumer's money income. Bundles <a href="https://interviewquestions.tuteehub.com/tag/costing-13313" style="font-weight:bold;" target="_blank" title="Click to know more about COSTING">COSTING</a> less than income <a href="https://interviewquestions.tuteehub.com/tag/lie-1073081" style="font-weight:bold;" target="_blank" title="Click to know more about LIE">LIE</a> below the budget <a href="https://interviewquestions.tuteehub.com/tag/line-1074199" style="font-weight:bold;" target="_blank" title="Click to know more about LINE">LINE</a> and bundles costing equal to income lie on the budget line.</body></html> | |
| 7309. |
Explain the imlication of the following. (i) Large Number of buyers under Perfect Competition. (ii) Freedom of Entry and Exit to firms under Perfect Competition (iii) "Inter-dependence between Firms" under Oligopoly (iv) 'Non-price Competition' under Oligopoly (v) Large number of Sellers' under Perfect Competition (vi) "Homogeneous Products" under Perfect Competition (vii) Barriers to Entry of New Firms' under Oligopoly (vii) 'Few Big Sellers" under Oligopoly (ix) 'Product Differentiation" under Monopolistic Competition (x) 'Perfect Knowledge' under Perfect Competition |
| Answer» <html><body><p></p>Solution :(i) Implication is that no individuals <a href="https://interviewquestions.tuteehub.com/tag/buyers-906447" style="font-weight:bold;" target="_blank" title="Click to know more about BUYERS">BUYERS</a> is in a position to influence the market price on its own by changing his individual demand. <br/> (ii) Implication is that when existing firms are making profits , new firm to earn just only normal profit in the profit in the long run. The opposite happens if the exisitng if the existing firms are facing losses. <br/> (ii) Implication is that an individual firm takes into consideration the likely reaction of its <a href="https://interviewquestions.tuteehub.com/tag/rival-614395" style="font-weight:bold;" target="_blank" title="Click to know more about RIVAL">RIVAL</a> firms before making a move to <a href="https://interviewquestions.tuteehub.com/tag/change-913808" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGE">CHANGE</a> price or output. It is possible because it is assumed that rival firms may <a href="https://interviewquestions.tuteehub.com/tag/react-613674" style="font-weight:bold;" target="_blank" title="Click to know more about REACT">REACT</a> <br/> (iv) Non-price competition means competition between firms by means other than changing price, like free gilt, home service, customer care etc. Implication is that firms in oligopoly prefer non-price competition to avoid price-war because the firm who starts the price-war may be the ultimate loser. <br/> (v) Implication is that no single firm is in a position to influence the market price on its own by changing its own output. Thus, price remains unchanged. <br/> (iv) Implication is that no firm can charge a higher price because no buyer is willing to pay the same. Thus, market price remains the same for all the firms. <br/> (vii) Implication is that such barriers allow only a limited number of firms into oligopoly industries. Such barriers may be in the form of huge capital requirements, patent rights, availability of crucial raw materials etc. <br/> (vii) Implication is that each big seller contributes a fairly large share of total output. This gives an individual seller the power of influencing the market price by changing its own output. <br/> (ix) Implication is that buyers differentiate products of firms various as different. So, they are willing to pay different prices for the products of different firms. This product differentiation gives the power to an individual firm to influence the market price on their own. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/x-746616" style="font-weight:bold;" target="_blank" title="Click to know more about X">X</a>) Knowledge by buyers further implies that no buyer is willing to pay a higher price for the product of any firm. Knowledge by sellers implies that cost of production is same for all producers.Implication is that buyers are fully aware of price in market and sellers of technique of production.</body></html> | |
| 7310. |
Explain the consumer's equilibrium through Indifferencce Curve Analysis or Hicksian Analysis |
| Answer» | |
| 7311. |
A consumer in conumption of two commoditiesA and B is at equilibrium. The prices of A and B are Rs 10 and Rs 20 respectively and the marginal utility of product B is 50. What will be the marginal utility of product A ? |
| Answer» <html><body><p>100<br/>25<br/>250<br/>4</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 7312. |
On the basis og given diagram, answer the following questions: (i) On the production possiblility curve AE, if the economy decides to produce 50 million tonnes of wheat then how many tanks it can produce ? (ii) If there is growth in resources, what will appen to the production possibility curve (iii) Which point in the diagram represents underutillisation of resources? (iv) Which of the points n diagram is an unattainable combination? (v) Identify the point at whihc the economy will operate if resources are fully and efficiently utilised. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :(i) <a href="https://interviewquestions.tuteehub.com/tag/zero-751093" style="font-weight:bold;" target="_blank" title="Click to know more about ZERO">ZERO</a> Tanks. <br/> (ii) The production possibility curve will shift <a href="https://interviewquestions.tuteehub.com/tag/towards-7269729" style="font-weight:bold;" target="_blank" title="Click to know more about TOWARDS">TOWARDS</a> right. <br/> (iii) Point F. <br/> (iv) Point G. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/v-722631" style="font-weight:bold;" target="_blank" title="Click to know more about V">V</a>) If resources are fully and <a href="https://interviewquestions.tuteehub.com/tag/efficiently-2604067" style="font-weight:bold;" target="_blank" title="Click to know more about EFFICIENTLY">EFFICIENTLY</a> utilized, economy can operate at any point (like points A, B,C, or E) on the production possibility curve.</body></html> | |
| 7313. |
Consider the following demand and supply function of the commodity : Q^(D)=160=2P" ,"Q^(S)=-40+2P (i) Find equilibrium price. (ii) Find equilibrium quantity. (iii) Which situation arises when market price is Rs.30 ? (iv) Which situation arises when market price is Rs.60 ? |
| Answer» <html><body><p></p>Solution :Equilibrium <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> is determined at that point where market demand is equal to market supply i.e., <br/> `Q^(D)=Q^(S)` <br/> `160-2P=-<a href="https://interviewquestions.tuteehub.com/tag/40-314386" style="font-weight:bold;" target="_blank" title="Click to know more about 40">40</a>+2P` <br/> `-4P=-40-160` <br/> `P=(-120)/(-4)` <br/> P = 50 <br/> `therefore` Equilibrium price is Rs.50. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) The equilibrium <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> is calculated by substituting the equilibrium price into either demand or supply function since at equilibrium, quantity demandedand quantity supplied are equal. <br/> `Q^(D)=160-2P=160-2(50)=160-100=60" units"` <br/> `Q^(S)=-40+2P=-40+2(50)=-40+100=60" units"` <br/> (iii) When market price is Rs.<a href="https://interviewquestions.tuteehub.com/tag/30-304807" style="font-weight:bold;" target="_blank" title="Click to know more about 30">30</a>, then <br/> `Q^(D)=160-2P=160-2(30)=100"units"` <br/> `Q^(S)=-40+2P=-40+2(30)=20"units"` <br/> `Q^(D)gtQ^(S)` <br/> `100gt20` <br/> This is a situation of excess demand or shortage of supplyy, because `Q^(S)gtQ^(S)`. <br/> (iv) When market price is Rs.60, then <br/> `Q^(D)=160-2P=160-2(60)="40 units"` <br/> `Q^(S)=-40+2P=-40+2(60)="80 units"` <br/> `Q^(D)ltQ^(S)` <br/> `40lt80` <br/> This is a situation ofsupply or surplus because `Q^(D)ltQ^(S)`.</body></html> | |
| 7314. |
What is the relation between (i) Market price and AR of a price taking firm ? (ii) Market price and MR of a price taking firm ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :(i) AR <a href="https://interviewquestions.tuteehub.com/tag/equals-974070" style="font-weight:bold;" target="_blank" title="Click to know more about EQUALS">EQUALS</a> the market <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a>, as `AR=(<a href="https://interviewquestions.tuteehub.com/tag/tr-661737" style="font-weight:bold;" target="_blank" title="Click to know more about TR">TR</a>)/<a href="https://interviewquestions.tuteehub.com/tag/q-609558" style="font-weight:bold;" target="_blank" title="Click to know more about Q">Q</a>` <br/> Hence `AR=(Pxx Q)/Q "" ( :. TR=PxxQ)` <br/> AR=Price <br/> (ii) As price remains constant, TR increases at the same rate. Hence price/AR=MR</body></html> | |
| 7315. |
Distinguish between a change in quantity demanded and a change in demand of a commodity. |
| Answer» <html><body><p></p>Solution :(i) Change in <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> demanded is the change in <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> caused by a change in own price of the commodity whereas change in demand <a href="https://interviewquestions.tuteehub.com/tag/refers-1181652" style="font-weight:bold;" target="_blank" title="Click to know more about REFERS">REFERS</a> to change in demand of the commodity caused by a change in other factors affecting the demand for that commodity other than the own price of the commodity.<br/>(<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Change in quantity demanded leads to a movement along the demand curve whereas change in demand leads to a shift in the demand curve.</body></html> | |
| 7316. |
Total utility is : |
| Answer» <html><body><p>The sum of <a href="https://interviewquestions.tuteehub.com/tag/marginal-555038" style="font-weight:bold;" target="_blank" title="Click to know more about MARGINAL">MARGINAL</a> utilities.<br/>Utility from the <a href="https://interviewquestions.tuteehub.com/tag/first-461760" style="font-weight:bold;" target="_blank" title="Click to know more about FIRST">FIRST</a> unit `<a href="https://interviewquestions.tuteehub.com/tag/xx-747671" style="font-weight:bold;" target="_blank" title="Click to know more about XX">XX</a>` Number of units consumed.<br/>Always increasing.<br/>Utility from <a href="https://interviewquestions.tuteehub.com/tag/last-3704365" style="font-weight:bold;" target="_blank" title="Click to know more about LAST">LAST</a> unit `xx` Nuimber of unit consumed.</p>Answer :A</body></html> | |
| 7317. |
Four units of labour produce 100 unit of output and 5 units of labour produce 120 units of output. Calculate MP of the labour. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/20-287209" style="font-weight:bold;" target="_blank" title="Click to know more about 20">20</a> <a href="https://interviewquestions.tuteehub.com/tag/units-1438468" style="font-weight:bold;" target="_blank" title="Click to know more about UNITS">UNITS</a>.</body></html> | |
| 7318. |
Discuss the relationship between AR and MR when a firm is able to sell more quanity of output (i) At the same price (ii) Only by lowering the price |
| Answer» | |
| 7319. |
Out of the following , by which method mode can be calculated? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/inspection-1045989" style="font-weight:bold;" target="_blank" title="Click to know more about INSPECTION">INSPECTION</a> <a href="https://interviewquestions.tuteehub.com/tag/method-559432" style="font-weight:bold;" target="_blank" title="Click to know more about METHOD">METHOD</a><br/>Grouping method<br/>Both (a) and (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>)<br/><a href="https://interviewquestions.tuteehub.com/tag/none-580659" style="font-weight:bold;" target="_blank" title="Click to know more about NONE">NONE</a> of these</p>Solution :Inspection method andGrouping method</body></html> | |
| 7320. |
What eflect does an increase in input price has on the supply of the commodity? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a> will decrease. because it will be <a href="https://interviewquestions.tuteehub.com/tag/expensive-980264" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENSIVE">EXPENSIVE</a> to produce that <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a>.</body></html> | |
| 7321. |
Harish earn Rs. 10 lakhs per year from his business. He gets an offer from a company to work at a salary of Rs.8,40,000 per year. Determine opportunity cost of Harish. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :The oportunity cost of Harish is Rs. 8,40,000, that he can <a href="https://interviewquestions.tuteehub.com/tag/earn-444812" style="font-weight:bold;" target="_blank" title="Click to know more about EARN">EARN</a> in the next <a href="https://interviewquestions.tuteehub.com/tag/best-390038" style="font-weight:bold;" target="_blank" title="Click to know more about BEST">BEST</a> alternative.</body></html> | |
| 7322. |
Such series may be converted into simple frequency series using the following method: (i) First, mutual difference between mid-values (i), is determined, and (ii) Second, the difference so obtained is reduced to half (1/2i) which when deducted from the mid-value gives lower limit of the class interval and when added to the mid-value gives the corresponding upper limit. |
| Answer» <html><body><p></p>Solution :Thus,Lower limit: `l_1 = m-1/2i` <br/>Upper limit: `l_2=m+1/2i` <br/>where, m=mid-value, i=difference between mid-values, `l_1`=lower limit and `l_2` = upper limit. <br/> In the above frequency series with mid values, the <a href="https://interviewquestions.tuteehub.com/tag/mutual-2850190" style="font-weight:bold;" target="_blank" title="Click to know more about MUTUAL">MUTUAL</a> difference between mid-values (i) 15 - <a href="https://interviewquestions.tuteehub.com/tag/5-319454" style="font-weight:bold;" target="_blank" title="Click to know more about 5">5</a>=10. <a href="https://interviewquestions.tuteehub.com/tag/half-1014510" style="font-weight:bold;" target="_blank" title="Click to know more about HALF">HALF</a> of it is 5. Deducting 5 from each mid-value we <a href="https://interviewquestions.tuteehub.com/tag/get-11812" style="font-weight:bold;" target="_blank" title="Click to know more about GET">GET</a> lower limits and adding 5 to each mid-value we get the corresponding upper limits. <br/> Following table shows the process of this conversion. <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TRJ_ECO_XI_C04_S01_007_S01.png" width="80%"/></body></html> | |
| 7323. |
What conditions must hold if a profit-maximising firm produces positive in a competitive market? |
| Answer» <html><body><p><br/></p>Solution :Discuss MR-MC Approach in case of "Producer's <a href="https://interviewquestions.tuteehub.com/tag/equilibrium-974342" style="font-weight:bold;" target="_blank" title="Click to know more about EQUILIBRIUM">EQUILIBRIUM</a> (When <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> remains Constant)" given of <a href="https://interviewquestions.tuteehub.com/tag/page-25452" style="font-weight:bold;" target="_blank" title="Click to know more about PAGE">PAGE</a> No. 8.3-8.4.</body></html> | |
| 7324. |
What is the relation of AP, when : (i) MP is more than AP (ii) MP is less than AP (iii)MP is equal to AP ? |
| Answer» <html><body><p><br/></p>Answer :The <a href="https://interviewquestions.tuteehub.com/tag/reaction-22747" style="font-weight:bold;" target="_blank" title="Click to know more about REACTION">REACTION</a> of AP in different cases will be <br/>(i)AP will rise. <br/>(<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) AP will fall but it will remain positive. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a>) AP will be constant and at its <a href="https://interviewquestions.tuteehub.com/tag/maximum-556915" style="font-weight:bold;" target="_blank" title="Click to know more about MAXIMUM">MAXIMUM</a> <a href="https://interviewquestions.tuteehub.com/tag/point-1157106" style="font-weight:bold;" target="_blank" title="Click to know more about POINT">POINT</a>.</body></html> | |
| 7325. |
On the basis of following schodule, answer the following questions : |{:("Units of Labour","Total Product (TP)","Marginal Product (MP)"),(1,10,10),(2,?,12),(3,36,?):}| The given schedule indicates the phase of : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/diminishing-2044202" style="font-weight:bold;" target="_blank" title="Click to know more about DIMINISHING">DIMINISHING</a> <a href="https://interviewquestions.tuteehub.com/tag/returns-1187977" style="font-weight:bold;" target="_blank" title="Click to know more about RETURNS">RETURNS</a> to a Factor<br/>Increasing Returns to a factor<br/>Negative Returns to a Factor<br/>None of these</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 7326. |
On the basis of following schodule, answer the following questions : |{:("Units of Labour","Total Product (TP)","Marginal Product (MP)"),(1,10,10),(2,?,12),(3,36,?):}| (ii) What is MP at 3rd unit of labour ? |
| Answer» <html><body><p>22<br/>12<br/>36<br/>14</p>Answer :D</body></html> | |
| 7327. |
On the basis of following schodule, answer the following questions : |{:("Units of Labour","Total Product (TP)","Marginal Product (MP)"),(1,10,10),(2,?,12),(3,36,?):}| (i) What TP at 2 units of labour ? |
| Answer» <html><body><p>10<br/>12<br/>22<br/>20</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 7328. |
Example of goods produced in a monopolistic form of market |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/samsung-12820" style="font-weight:bold;" target="_blank" title="Click to know more about SAMSUNG">SAMSUNG</a> T.V. <br/><a href="https://interviewquestions.tuteehub.com/tag/aata-2391523" style="font-weight:bold;" target="_blank" title="Click to know more about AATA">AATA</a> <a href="https://interviewquestions.tuteehub.com/tag/tea-664165" style="font-weight:bold;" target="_blank" title="Click to know more about TEA">TEA</a> <br/>L.G. <a href="https://interviewquestions.tuteehub.com/tag/refrigerator-1181966" style="font-weight:bold;" target="_blank" title="Click to know more about REFRIGERATOR">REFRIGERATOR</a> <br/>all of these.</p>Answer :D</body></html> | |
| 7329. |
Sum of deviations of different values from arithmetic mean is always equal to: |
| Answer» <html><body><p>zero<br/><a href="https://interviewquestions.tuteehub.com/tag/one-585732" style="font-weight:bold;" target="_blank" title="Click to know more about ONE">ONE</a><br/>less than one<br/>more then one </p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :A</body></html> | |
| 7330. |
Define 'change in demand'. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :When the demand <a href="https://interviewquestions.tuteehub.com/tag/changes-913881" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGES">CHANGES</a> due to a change in the other factors, at the same <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a>, it is termed as change in demand.</body></html> | |
| 7331. |
Define demand schedule or individual demand schedule. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Demand schedule (individual demand schedule) refer to a table which shows various quantities of a <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a>, that a <a href="https://interviewquestions.tuteehub.com/tag/consumer-25599" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMER">CONSUMER</a> is willing to purchase at different prices during a <a href="https://interviewquestions.tuteehub.com/tag/given-473447" style="font-weight:bold;" target="_blank" title="Click to know more about GIVEN">GIVEN</a> <a href="https://interviewquestions.tuteehub.com/tag/period-1151023" style="font-weight:bold;" target="_blank" title="Click to know more about PERIOD">PERIOD</a> of time.</body></html> | |
| 7332. |
At any given level of a firm's output, marginal revenue is the revenue earned by selling : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/entire-972365" style="font-weight:bold;" target="_blank" title="Click to know more about ENTIRE">ENTIRE</a> output <br/><a href="https://interviewquestions.tuteehub.com/tag/additional-367648" style="font-weight:bold;" target="_blank" title="Click to know more about ADDITIONAL">ADDITIONAL</a> unit of output <br/>Both (a) and (b) <br/><a href="https://interviewquestions.tuteehub.com/tag/neither-1113494" style="font-weight:bold;" target="_blank" title="Click to know more about NEITHER">NEITHER</a> (a) nor (b) </p>Solution :N/A</body></html> | |
| 7333. |
Draw the demand curve of a firm under monopoly. |
| Answer» | |
| 7334. |
Standard deviation is calculated from |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/mean-1091459" style="font-weight:bold;" target="_blank" title="Click to know more about MEAN">MEAN</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/median-1092401" style="font-weight:bold;" target="_blank" title="Click to know more about MEDIAN">MEDIAN</a> <br/>Both mean and median <br/><a href="https://interviewquestions.tuteehub.com/tag/neither-1113494" style="font-weight:bold;" target="_blank" title="Click to know more about NEITHER">NEITHER</a> mean nor median </p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :A</body></html> | |
| 7335. |
In the Law of Variable Proportions, when Total Product rises at decreasing rate, Average Product |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/rises-1189694" style="font-weight:bold;" target="_blank" title="Click to know more about RISES">RISES</a> throughout<br/><a href="https://interviewquestions.tuteehub.com/tag/falls-983294" style="font-weight:bold;" target="_blank" title="Click to know more about FALLS">FALLS</a> throughout<br/><a href="https://interviewquestions.tuteehub.com/tag/initially-516121" style="font-weight:bold;" target="_blank" title="Click to know more about INITIALLY">INITIALLY</a> rises and then falls <br/>Initially <a href="https://interviewquestions.tuteehub.com/tag/fall-983217" style="font-weight:bold;" target="_blank" title="Click to know more about FALL">FALL</a> and then rises</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 7336. |
Average age of the people of a counry is shown in the following table: {:("Age (Years)",10-20,20-30,30-40,40-50,50-60),("People ('000)"," "30," "32," "15," "12," "9):} Find out mean age by Direct Method. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/mean-1091459" style="font-weight:bold;" target="_blank" title="Click to know more about MEAN">MEAN</a> <a href="https://interviewquestions.tuteehub.com/tag/age-851457" style="font-weight:bold;" target="_blank" title="Click to know more about AGE">AGE</a> = 28.7 <a href="https://interviewquestions.tuteehub.com/tag/years-1464846" style="font-weight:bold;" target="_blank" title="Click to know more about YEARS">YEARS</a></body></html> | |
| 7337. |
When is supply of a good said to be perfectly price inelastic? |
| Answer» <html><body><p></p>Solution : When the supply of a <a href="https://interviewquestions.tuteehub.com/tag/good-1009017" style="font-weight:bold;" target="_blank" title="Click to know more about GOOD">GOOD</a> does not <a href="https://interviewquestions.tuteehub.com/tag/change-913808" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGE">CHANGE</a> despite of a change in its <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a>.</body></html> | |
| 7338. |
Mention one determinant of demand for a commodity other than price. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/income-25499" style="font-weight:bold;" target="_blank" title="Click to know more about INCOME">INCOME</a> of the <a href="https://interviewquestions.tuteehub.com/tag/consumer-25599" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMER">CONSUMER</a>.</body></html> | |
| 7339. |
In a village of 200 farms , a study was conducted to find the find the cropping pattern. Out of the 50 farms surveyed , 50% grew only wheat. Identify the population and the sample here. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/population-1159440" style="font-weight:bold;" target="_blank" title="Click to know more about POPULATION">POPULATION</a> =<a href="https://interviewquestions.tuteehub.com/tag/200-288914" style="font-weight:bold;" target="_blank" title="Click to know more about 200">200</a>,<a href="https://interviewquestions.tuteehub.com/tag/sample-1194587" style="font-weight:bold;" target="_blank" title="Click to know more about SAMPLE">SAMPLE</a> =<a href="https://interviewquestions.tuteehub.com/tag/50-322056" style="font-weight:bold;" target="_blank" title="Click to know more about 50">50</a></body></html> | |
| 7340. |
Suppose that goof A is a substitude of good B. How will an increase in the price of good B affect the demand curve of good A ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> curve of <a href="https://interviewquestions.tuteehub.com/tag/good-1009017" style="font-weight:bold;" target="_blank" title="Click to know more about GOOD">GOOD</a> A will shift to the <a href="https://interviewquestions.tuteehub.com/tag/right-1188951" style="font-weight:bold;" target="_blank" title="Click to know more about RIGHT">RIGHT</a>.</body></html> | |
| 7341. |
An increase in number of firms leads to 'Expansion in Supply'. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :False. It leads to 'Increase in <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a>' as supply will rise at the same <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a>.</body></html> | |
| 7342. |
Define price elasticity of demand. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> <a href="https://interviewquestions.tuteehub.com/tag/elasticity-14238" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTICITY">ELASTICITY</a> of demand is a measure of degree of <a href="https://interviewquestions.tuteehub.com/tag/responsiveness-1187167" style="font-weight:bold;" target="_blank" title="Click to know more about RESPONSIVENESS">RESPONSIVENESS</a> of demand as a <a href="https://interviewquestions.tuteehub.com/tag/result-1187343" style="font-weight:bold;" target="_blank" title="Click to know more about RESULT">RESULT</a> of change in price of the commodity.</body></html> | |
| 7343. |
What is the relationship between price curve and MR curve, when price remains same at all output levels ? |
| Answer» <html><body><p></p>Solution :When price is same at all the <a href="https://interviewquestions.tuteehub.com/tag/output-1142821" style="font-weight:bold;" target="_blank" title="Click to know more about OUTPUT">OUTPUT</a> levels, the price/AR <a href="https://interviewquestions.tuteehub.com/tag/curve-941741" style="font-weight:bold;" target="_blank" title="Click to know more about CURVE">CURVE</a> coincides with the MR curve. The curve will be a <a href="https://interviewquestions.tuteehub.com/tag/horizontal-1029056" style="font-weight:bold;" target="_blank" title="Click to know more about HORIZONTAL">HORIZONTAL</a> straight <a href="https://interviewquestions.tuteehub.com/tag/line-1074199" style="font-weight:bold;" target="_blank" title="Click to know more about LINE">LINE</a> <a href="https://interviewquestions.tuteehub.com/tag/parallel-1146369" style="font-weight:bold;" target="_blank" title="Click to know more about PARALLEL">PARALLEL</a> to the X-axis.</body></html> | |
| 7344. |
Which table is smaller in size? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/text-11613" style="font-weight:bold;" target="_blank" title="Click to know more about TEXT">TEXT</a> table <br/><a href="https://interviewquestions.tuteehub.com/tag/reference-1181544" style="font-weight:bold;" target="_blank" title="Click to know more about REFERENCE">REFERENCE</a> table <br/><a href="https://interviewquestions.tuteehub.com/tag/general-471730" style="font-weight:bold;" target="_blank" title="Click to know more about GENERAL">GENERAL</a> table <br/><a href="https://interviewquestions.tuteehub.com/tag/none-580659" style="font-weight:bold;" target="_blank" title="Click to know more about NONE">NONE</a> of the above. </p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :A</body></html> | |
| 7345. |
Price elasticity of supply of a good is 2. A producer sells 60 units of a good at a price of Rs.6 per unit .At what price will he sell 40 units ? |
| Answer» <html><body><p></p>Solution :Given, <br/> `""E_(s)=(P)/(Q)<a href="https://interviewquestions.tuteehub.com/tag/xx-747671" style="font-weight:bold;" target="_blank" title="Click to know more about XX">XX</a>(DeltaQ)/(DeltaP)` <br/>`2=(6)/(<a href="https://interviewquestions.tuteehub.com/tag/60-328817" style="font-weight:bold;" target="_blank" title="Click to know more about 60">60</a>)xx(-<a href="https://interviewquestions.tuteehub.com/tag/20-287209" style="font-weight:bold;" target="_blank" title="Click to know more about 20">20</a>)/(DeltaP)` <br/>`120 DeltaP=-120` <br/>`DeltaP=-<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a>` <br/>Now `P=P+DeltaP=6+(-1)=<a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 5`</body></html> | |
| 7346. |
How does TR react when MR is zero ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/tr-661737" style="font-weight:bold;" target="_blank" title="Click to know more about TR">TR</a> is <a href="https://interviewquestions.tuteehub.com/tag/maximum-556915" style="font-weight:bold;" target="_blank" title="Click to know more about MAXIMUM">MAXIMUM</a>.</body></html> | |
| 7347. |
State wheter true of false (give reason). A monopolist can sell any quantity he likes at a price. |
| Answer» | |
| 7348. |
A consumer consumes only two goods. Explain consumer's equilibrium with the help of utility analysis. Or A consumer consumes only two goods A/X and B/Y and is in equilibrium. Show that when price of good B/X falls, demand for B/X rises. Answer this question with the help of utility analysis. |
| Answer» | |
| 7349. |
Decrease in the price of the complementary goods leads to : |
| Answer» <html><body><p>Upward movement <a href="https://interviewquestions.tuteehub.com/tag/along-1974109" style="font-weight:bold;" target="_blank" title="Click to know more about ALONG">ALONG</a> the same <a href="https://interviewquestions.tuteehub.com/tag/market-25464" style="font-weight:bold;" target="_blank" title="Click to know more about MARKET">MARKET</a> demand curve<br/>Downward movement along the same demand curve<br/>Rightward <a href="https://interviewquestions.tuteehub.com/tag/shift-1205367" style="font-weight:bold;" target="_blank" title="Click to know more about SHIFT">SHIFT</a> in the demand curve<br/>Leftward shift in the demand curve</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 7350. |
Frequency curve is a simple form of ________ which is drawn by freehand smoothed curves. (frequency polygon / histogram ) |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/frequency-465761" style="font-weight:bold;" target="_blank" title="Click to know more about FREQUENCY">FREQUENCY</a> <a href="https://interviewquestions.tuteehub.com/tag/polygon-602436" style="font-weight:bold;" target="_blank" title="Click to know more about POLYGON">POLYGON</a></body></html> | |