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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.
| 7401. |
Give equations for budget set and budget constraint. |
| Answer» <html><body><p><br/></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/budget-25496" style="font-weight:bold;" target="_blank" title="Click to know more about BUDGET">BUDGET</a> <a href="https://interviewquestions.tuteehub.com/tag/set-11758" style="font-weight:bold;" target="_blank" title="Click to know more about SET">SET</a> <br/> (i)`P_1x_1+P_2x_2=M` and (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>)`P_1x_1+P_2x_2 <a href="https://interviewquestions.tuteehub.com/tag/lt-537906" style="font-weight:bold;" target="_blank" title="Click to know more about LT">LT</a> M` <br/> Budget constraint =`P_1x_1+P_2x_2 gt M`</body></html> | |
| 7402. |
What are the characteristics of a perfectly competitive market? |
| 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/discuss-955675" style="font-weight:bold;" target="_blank" title="Click to know more about DISCUSS">DISCUSS</a> "<a href="https://interviewquestions.tuteehub.com/tag/features-985771" style="font-weight:bold;" target="_blank" title="Click to know more about FEATURES">FEATURES</a> of <a href="https://interviewquestions.tuteehub.com/tag/perfect-1150611" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECT">PERFECT</a> <a href="https://interviewquestions.tuteehub.com/tag/competition-423521" style="font-weight:bold;" target="_blank" title="Click to know more about COMPETITION">COMPETITION</a>".</body></html> | |
| 7403. |
A shift in demand curve of the given commodity may be caused by change in any determinant of demand function. |
| 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> :It cannot be <a href="https://interviewquestions.tuteehub.com/tag/caused-7279664" style="font-weight:bold;" target="_blank" title="Click to know more about CAUSED">CAUSED</a> by change in price of the <a href="https://interviewquestions.tuteehub.com/tag/given-473447" style="font-weight:bold;" target="_blank" title="Click to know more about GIVEN">GIVEN</a> commodity. Change in all other determinants <a href="https://interviewquestions.tuteehub.com/tag/lead-540361" style="font-weight:bold;" target="_blank" title="Click to know more about LEAD">LEAD</a> to shift in demand curve.</body></html> | |
| 7404. |
Pocket allowance of 5 students respectively are: 125, 75, 150, 175, 200 Find out arithmetic mean. |
| 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/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> = <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. <a href="https://interviewquestions.tuteehub.com/tag/145-273741" style="font-weight:bold;" target="_blank" title="Click to know more about 145">145</a></body></html> | |
| 7405. |
When is a good considered a normal good ? |
| 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/good-1009017" style="font-weight:bold;" target="_blank" title="Click to know more about GOOD">GOOD</a> is considered <a href="https://interviewquestions.tuteehub.com/tag/normal-1123860" style="font-weight:bold;" target="_blank" title="Click to know more about NORMAL">NORMAL</a> when with rise/fall in <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 its consumers, its demand rises/falls.</body></html> | |
| 7406. |
What are the shapes of AR and MR curves, when each unit is sold at the same price ? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/ar-380980" style="font-weight:bold;" target="_blank" title="Click to know more about AR">AR</a> and <a href="https://interviewquestions.tuteehub.com/tag/mr-549185" style="font-weight:bold;" target="_blank" title="Click to know more about MR">MR</a> <a href="https://interviewquestions.tuteehub.com/tag/curves-941810" style="font-weight:bold;" target="_blank" title="Click to know more about CURVES">CURVES</a> coincide in 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 line <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 X-axis.</body></html> | |
| 7407. |
Normal curves are also known as: |
| Answer» <html><body><p>J-shaped curve<br/>L-shaped curve<br/>U-shaped curve<br/>bell-shaped curve</p>Solution :D</body></html> | |
| 7408. |
Suppose there exist only four in a market. Each wants to miximise its market shar and increase profits. An incompetent economic analyst advices one of the firms to reduce price to increase its sales. Would this be a correct measure to increase market share ? What alternative ways would you suggest to the firm to increase sales ? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/since-644476" style="font-weight:bold;" target="_blank" title="Click to know more about SINCE">SINCE</a> the market from under <a href="https://interviewquestions.tuteehub.com/tag/consideration-929955" style="font-weight:bold;" target="_blank" title="Click to know more about CONSIDERATION">CONSIDERATION</a> is oligopoly, a reduction in <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> by one firm may lead to price war which would make all firms worse off. <br/> Sales can be increased by non price competition through advertising, discounts, free gifts etc.</body></html> | |
| 7409. |
When the marginal utility starts falling, total utility also start decreasing |
| 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> :Total utility starts decreasing only when <a href="https://interviewquestions.tuteehub.com/tag/marginal-555038" style="font-weight:bold;" target="_blank" title="Click to know more about MARGINAL">MARGINAL</a> utility is <a href="https://interviewquestions.tuteehub.com/tag/negative-570381" style="font-weight:bold;" target="_blank" title="Click to know more about NEGATIVE">NEGATIVE</a></body></html> | |
| 7410. |
Calculated coefficient of correlation between the price and quantity demanded. |
| Answer» <html><body><p></p>Solution :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TRJ_ECO_XI_C12_S01_006_S01.png" width="80%"/> <br/> `<a href="https://interviewquestions.tuteehub.com/tag/r-611811" style="font-weight:bold;" target="_blank" title="Click to know more about R">R</a>=(sumdx'dy'-((sumdx') <a href="https://interviewquestions.tuteehub.com/tag/xx-747671" style="font-weight:bold;" target="_blank" title="Click to know more about XX">XX</a>(sumdy'))/(N))/(<a href="https://interviewquestions.tuteehub.com/tag/sqrt-1223129" style="font-weight:bold;" target="_blank" title="Click to know more about SQRT">SQRT</a>(sumdx'^(<a href="https://interviewquestions.tuteehub.com/tag/2-283658" style="font-weight:bold;" target="_blank" title="Click to know more about 2">2</a>)=((sumdx')^(2))/(N))xx sqrt(sumdy'^(2)-((sumdy')^(2))/(N)))` <br/> `=(-10-(0)/(5))/(sqrt(10-(0)/(5))xxsqrt(10-(0)/(5)))` <br/> `=(-10)/(sqrt(10)xxsqrt(10))=(-10)/(10)=-1` <br/> Coefficient of Correlation (r)=-1. <br/> This is a situation of perfectly negative correlation between price and quantity demanded.</body></html> | |
| 7411. |
Whose formula is considered ideal for the construction of index number? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/paasche-593821" style="font-weight:bold;" target="_blank" title="Click to know more about PAASCHE">PAASCHE</a>'s formula<br/>Laspeyer'sformula <br/>Fisher'sformula<br/>None of these</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> | |
| 7412. |
Giving reason, state whether the following statements are true or false (i) AP will increase only when MP increases. (ii) Under diminishing returns to a factor TP continues to increase till MP reaches zero. |
| Answer» <html><body><p><br/></p>Solution :(i) False. <a href="https://interviewquestions.tuteehub.com/tag/ap-380277" style="font-weight:bold;" target="_blank" title="Click to know more about AP">AP</a> increases as long as MP is greater than AP. It does not <a href="https://interviewquestions.tuteehub.com/tag/matter-22749" style="font-weight:bold;" target="_blank" title="Click to know more about MATTER">MATTER</a> whether MP is increasing or decreasing.<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>) <a href="https://interviewquestions.tuteehub.com/tag/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a>. TP increases as long as MP reaches 0. When MP becomes negative, TP starts <a href="https://interviewquestions.tuteehub.com/tag/falling-983241" style="font-weight:bold;" target="_blank" title="Click to know more about FALLING">FALLING</a>.</body></html> | |
| 7413. |
What is budget set ? Explain what can lead to change in budget set. |
| Answer» <html><body><p></p>Solution :Budget set is the set of all possible <a href="https://interviewquestions.tuteehub.com/tag/combinations-922706" style="font-weight:bold;" target="_blank" title="Click to know more about COMBINATIONS">COMBINATIONS</a> of the two goods which a consumer can afford, given his income and <a href="https://interviewquestions.tuteehub.com/tag/prices-1165311" style="font-weight:bold;" target="_blank" title="Click to know more about PRICES">PRICES</a> in the market. <br/> Budget set is <a href="https://interviewquestions.tuteehub.com/tag/based-389387" style="font-weight:bold;" target="_blank" title="Click to know more about BASED">BASED</a> on the assumptions of constant income of consumer and constant <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> of the commodities. Any change in the income of the consumer or/and price of the commodity, will lead to change in the budget set.</body></html> | |
| 7414. |
Ceteris paribus means : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/holding-1028331" style="font-weight:bold;" target="_blank" title="Click to know more about HOLDING">HOLDING</a> <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a> constant<br/>Holding <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> constant<br/>Price being constant<br/>Other <a href="https://interviewquestions.tuteehub.com/tag/factors-458933" style="font-weight:bold;" target="_blank" title="Click to know more about FACTORS">FACTORS</a> being constant</p>Answer :D</body></html> | |
| 7415. |
What are the three phases of law of variable proportions? |
| 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> :(i)Increasing returns to a factor. TP increases at an increasing <a href="https://interviewquestions.tuteehub.com/tag/rate-1177476" style="font-weight:bold;" target="_blank" title="Click to know more about RATE">RATE</a> and MP increases <br/> (ii) <a href="https://interviewquestions.tuteehub.com/tag/diminishing-2044202" style="font-weight:bold;" target="_blank" title="Click to know more about DIMINISHING">DIMINISHING</a> returns to a factor. TP increases at a diminishing rate and MP falls, but <a href="https://interviewquestions.tuteehub.com/tag/remains-621920" style="font-weight:bold;" target="_blank" title="Click to know more about REMAINS">REMAINS</a> positive. Then MP becomes zero when TP is maximum and <a href="https://interviewquestions.tuteehub.com/tag/constant-930172" style="font-weight:bold;" target="_blank" title="Click to know more about CONSTANT">CONSTANT</a>. <br/>(iii) Negative returns to a factor. TP falls and MP becomes negative.</body></html> | |
| 7416. |
Arithmetic mean is not a suitable measure in case of __________ values. (absolute/percentage) |
| 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/percentage-13406" style="font-weight:bold;" target="_blank" title="Click to know more about PERCENTAGE">PERCENTAGE</a></body></html> | |
| 7417. |
What is the basis for classifying a market ? |
| Answer» <html><body><p></p>Solution :`{:("<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 buyers and sellers","<a href="https://interviewquestions.tuteehub.com/tag/nature-1112013" style="font-weight:bold;" target="_blank" title="Click to know more about NATURE">NATURE</a> of <a href="https://interviewquestions.tuteehub.com/tag/teh-1240626" style="font-weight:bold;" target="_blank" title="Click to know more about TEH">TEH</a> commodity"),("Freedom of entry and exit of <a href="https://interviewquestions.tuteehub.com/tag/firms-989820" style="font-weight:bold;" target="_blank" title="Click to know more about FIRMS">FIRMS</a>","Knowledge of the market conditions"),("Mobility of goods and factors","Price policy"),("<a href="https://interviewquestions.tuteehub.com/tag/shapes-1204733" style="font-weight:bold;" target="_blank" title="Click to know more about SHAPES">SHAPES</a> of AR and MR curves.",):}`</body></html> | |
| 7418. |
For consumer's equilibrium to be stable, the requirement is: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/constant-930172" style="font-weight:bold;" target="_blank" title="Click to know more about CONSTANT">CONSTANT</a> MRS<br/>Increasing MRS<br/>Diminishing MRS<br/>None of these</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> | |
| 7419. |
The supplycurveof a goodshiftsto therightwhenpricesofother goods rise. |
| Answer» <html><body><p></p>Solution :False: Whenpriceof othergoods rise, it <a href="https://interviewquestions.tuteehub.com/tag/becomes-1994370" style="font-weight:bold;" target="_blank" title="Click to know more about BECOMES">BECOMES</a> more <a href="https://interviewquestions.tuteehub.com/tag/profitable-592952" style="font-weight:bold;" target="_blank" title="Click to know more about PROFITABLE">PROFITABLE</a> to produce them in <a href="https://interviewquestions.tuteehub.com/tag/place-1155224" style="font-weight:bold;" target="_blank" title="Click to know more about PLACE">PLACE</a> of thegivengood, so supply <a href="https://interviewquestions.tuteehub.com/tag/curve-941741" style="font-weight:bold;" target="_blank" title="Click to know more about CURVE">CURVE</a> will shift to <a href="https://interviewquestions.tuteehub.com/tag/left-1070879" style="font-weight:bold;" target="_blank" title="Click to know more about LEFT">LEFT</a>.</body></html> | |
| 7420. |
A diagram is: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/exact-447094" style="font-weight:bold;" target="_blank" title="Click to know more about EXACT">EXACT</a> alternative to data <br/><a href="https://interviewquestions.tuteehub.com/tag/close-408965" style="font-weight:bold;" target="_blank" title="Click to know more about CLOSE">CLOSE</a> <a href="https://interviewquestions.tuteehub.com/tag/substitute-1231629" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSTITUTE">SUBSTITUTE</a> of data<br/>An <a href="https://interviewquestions.tuteehub.com/tag/aid-852184" style="font-weight:bold;" target="_blank" title="Click to know more about AID">AID</a> to understanding of data<br/>All 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> :C</body></html> | |
| 7421. |
In case__ , Supply cvrveis a verticalstraingline parallel to theY-axis. |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/perfectly-7309466" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECTLY">PERFECTLY</a> elastic <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a>.<br/>unitaryelastic supply.<br/>perfectlyinelastic supply.<br/>lesselastic supply.</p>Solution :when Es=infinity , i.e., in case of perfectly <a href="https://interviewquestions.tuteehub.com/tag/inelastic-7382420" style="font-weight:bold;" target="_blank" title="Click to know more about INELASTIC">INELASTIC</a> supply , supply curve is <a href="https://interviewquestions.tuteehub.com/tag/vertical-726181" style="font-weight:bold;" target="_blank" title="Click to know more about VERTICAL">VERTICAL</a> straight line parallel to Y-axis.</body></html> | |
| 7422. |
Can a consumer go beyond the budget line ? |
| 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> :No, 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> cannot go beyond the budget line with his given income and prices of two goods. Any Feasible point towards the right of budget line shows non- <a href="https://interviewquestions.tuteehub.com/tag/combinations-922706" style="font-weight:bold;" target="_blank" title="Click to know more about COMBINATIONS">COMBINATIONS</a> attainable or non-feasible combinations.</body></html> | |
| 7423. |
Following is the pocket allowance of 10 students. Find out arithmetic mean using Short-cut Method. {:("Pocket Allowance(Rs.)",15,20,30,22,25,18,40,50,55,65):} |
| Answer» <html><body><p></p>Solution :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TRJ_ECO_XI_C09_S01_002_S01.png" width="80%"/> <br/> The <a href="https://interviewquestions.tuteehub.com/tag/sum-1234400" style="font-weight:bold;" target="_blank" title="Click to know more about SUM">SUM</a> of '+' deviations = + 50 <br/> The sum of '-' deviations = - <a href="https://interviewquestions.tuteehub.com/tag/110-268165" style="font-weight:bold;" target="_blank" title="Click to know more about 110">110</a> <br/> The net sum of deviations, `sum d =-110+ 50 = -60` <br/> Dividing the aggregate of deviations `(sum d)` by the number of<br/> items (N), ` (sum d)/N =(-60)/<a href="https://interviewquestions.tuteehub.com/tag/10-261113" style="font-weight:bold;" target="_blank" title="Click to know more about 10">10</a> = - 6` <br/> Substituting this value of` (sum d)/n`in the following formula: <br/> ` barX = A+(sum d)/N ` <br/> We have, <br/> `barX = <a href="https://interviewquestions.tuteehub.com/tag/40-314386" style="font-weight:bold;" target="_blank" title="Click to know more about 40">40</a> +(-) 6` <br/> =40-6 <br/> =<a href="https://interviewquestions.tuteehub.com/tag/34-308171" style="font-weight:bold;" target="_blank" title="Click to know more about 34">34</a> <br/> Arithmetic Mean = Rs. 34.</body></html> | |
| 7424. |
Base year in an index number should be an year in which these are : |
| Answer» <html><body><p>Nocyclical <a href="https://interviewquestions.tuteehub.com/tag/fluctuations-993466" style="font-weight:bold;" target="_blank" title="Click to know more about FLUCTUATIONS">FLUCTUATIONS</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/minimum-561095" style="font-weight:bold;" target="_blank" title="Click to know more about MINIMUM">MINIMUM</a> <a href="https://interviewquestions.tuteehub.com/tag/cyclical-7374645" style="font-weight:bold;" target="_blank" title="Click to know more about CYCLICAL">CYCLICAL</a> fluctuations<br/>Average cyclical fluctuations<br/>Maximum cyclical fluctuations</p>Solution :<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> | |
| 7425. |
Inflation hits the common man the most, Which branch of economics tries to find solution of this problem? |
| Answer» | |
| 7426. |
How is TU derived from MU ? |
| Answer» <html><body><p></p>Solution :Relationship Between Total Utility (<a href="https://interviewquestions.tuteehub.com/tag/tu-1428586" style="font-weight:bold;" target="_blank" title="Click to know more about TU">TU</a>) and <a href="https://interviewquestions.tuteehub.com/tag/marginal-555038" style="font-weight:bold;" target="_blank" title="Click to know more about MARGINAL">MARGINAL</a> Utility (MU): When a consumer goes on to consume the units of a commodity <a href="https://interviewquestions.tuteehub.com/tag/continuously-7269309" style="font-weight:bold;" target="_blank" title="Click to know more about CONTINUOUSLY">CONTINUOUSLY</a> the marginal utility derived from the <a href="https://interviewquestions.tuteehub.com/tag/successivebrbr-2284089" style="font-weight:bold;" target="_blank" title="Click to know more about SUCCESSIVE">SUCCESSIVE</a> units of the commodity goes on to fall constantly while other factors are held <a href="https://interviewquestions.tuteehub.com/tag/constant-930172" style="font-weight:bold;" target="_blank" title="Click to know more about CONSTANT">CONSTANT</a>.</body></html> | |
| 7427. |
Suppose we have to prepare a price index number constituting three goods A, B and C. For the year 2008 and 2009. We are given the followinginformation: |
| Answer» <html><body><p></p>Solution :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/ECO_XI_A_U03_C12_S01_001_S01.png" width="80%"/> <br/> `L=sum(p_(1)q_(o))/(p_(o)q_(o)) xx100=(440)/(<a href="https://interviewquestions.tuteehub.com/tag/380-310180" style="font-weight:bold;" target="_blank" title="Click to know more about 380">380</a>)xx100=116 " approx".` <br/> `P=sum(p_(1)q_(1))/(p_(o)q_(1)) xx100=(490)/(<a href="https://interviewquestions.tuteehub.com/tag/370-1860129" style="font-weight:bold;" target="_blank" title="Click to know more about 370">370</a>)xx100=132 " approx".` <br/> `F=sqrt("L P")=sqrt(116xx132)=<a href="https://interviewquestions.tuteehub.com/tag/124-271143" style="font-weight:bold;" target="_blank" title="Click to know more about 124">124</a>" approx". `</body></html> | |
| 7428. |
The situation of consumer's disequilibrium (MU_X)/P_X gt (MU_Y)/P_Y arise : |
| Answer» <html><body><p>due to increase in <a href="https://interviewquestions.tuteehub.com/tag/consumption-931383" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMPTION">CONSUMPTION</a> 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 href="https://interviewquestions.tuteehub.com/tag/x-746616" style="font-weight:bold;" target="_blank" title="Click to know more about X">X</a> <br/>due to increase in price of good X<br/>due to decrease in price of good Y<br/>due to increase in price of good Y</p>Solution :D</body></html> | |
| 7429. |
What is relationship between AR and MR , when price remains constant ? |
| 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> :AR=MR and both the <a href="https://interviewquestions.tuteehub.com/tag/curves-941810" style="font-weight:bold;" target="_blank" title="Click to know more about CURVES">CURVES</a> coincide in a horizontal 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> which is parallel to the X-axis</body></html> | |
| 7430. |
Define individual demand curve |
| Answer» <html><body><p></p>Solution :Individual <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 is a graphical representation of individual demand <a href="https://interviewquestions.tuteehub.com/tag/schedule-637564" style="font-weight:bold;" target="_blank" title="Click to know more about SCHEDULE">SCHEDULE</a> i.e it <a href="https://interviewquestions.tuteehub.com/tag/shows-1206590" style="font-weight:bold;" target="_blank" title="Click to know more about SHOWS">SHOWS</a> the negative relation between <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> and qunatity demanded of a commodity by an individual, other things being <a href="https://interviewquestions.tuteehub.com/tag/equal-446400" style="font-weight:bold;" target="_blank" title="Click to know more about EQUAL">EQUAL</a>.</body></html> | |
| 7431. |
Suppose a consumer's preferences are monotonic. What can say about her preference ranking over the bundles (10,0), (10,9) and (9,9) ? |
| Answer» <html><body><p></p>Solution :If a consumer has monotonic preferences, then her preferences will rank as <a href="https://interviewquestions.tuteehub.com/tag/follows-994526" style="font-weight:bold;" target="_blank" title="Click to know more about FOLLOWS">FOLLOWS</a>: <br/> `<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a>^(st) (10, <a href="https://interviewquestions.tuteehub.com/tag/0-251616" style="font-weight:bold;" target="_blank" title="Click to know more about 0">0</a>) "" 2^(nd) (10,9) "" <a href="https://interviewquestions.tuteehub.com/tag/3-301577" style="font-weight:bold;" target="_blank" title="Click to know more about 3">3</a>^(<a href="https://interviewquestions.tuteehub.com/tag/rd-613594" style="font-weight:bold;" target="_blank" title="Click to know more about RD">RD</a>) (9,9)`</body></html> | |
| 7432. |
The 2^(nd) phase (diminishing returns to a factor) is exhibited by the following total product sequence: |
| Answer» <html><body><p>`<a href="https://interviewquestions.tuteehub.com/tag/50-322056" style="font-weight:bold;" target="_blank" title="Click to know more about 50">50</a>, 50, 50, 50`<br/>`50, 110, 180, <a href="https://interviewquestions.tuteehub.com/tag/260-298496" style="font-weight:bold;" target="_blank" title="Click to know more about 260">260</a>`<br/>`50, 100, 150, 200`<br/>`50, 90, <a href="https://interviewquestions.tuteehub.com/tag/120-270396" style="font-weight:bold;" target="_blank" title="Click to know more about 120">120</a>, <a href="https://interviewquestions.tuteehub.com/tag/140-273392" style="font-weight:bold;" target="_blank" title="Click to know more about 140">140</a>`</p>Answer :D</body></html> | |
| 7433. |
Few large firms collectivley decide the level of output and prices and still retain their individual identity. Identigy the type of market form. |
| Answer» <html><body><p>Monopoly<br/>Oligopoly<br/>Perfect <a href="https://interviewquestions.tuteehub.com/tag/compition-2532042" style="font-weight:bold;" target="_blank" title="Click to know more about COMPITION">COMPITION</a> <br/>Monoplistic competition</p>Solution :<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> | |
| 7434. |
If thequnatity supplieddoes not changeat all as prices change ,whatwill bethe elasitcity of 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> :Perfectly inelastic Supply `(E_(s) = <a href="https://interviewquestions.tuteehub.com/tag/0-251616" style="font-weight:bold;" target="_blank" title="Click to know more about 0">0</a>)`.becausethere is no <a href="https://interviewquestions.tuteehub.com/tag/effect-966056" style="font-weight:bold;" target="_blank" title="Click to know more about EFFECT">EFFECT</a> of change in price on <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> <a href="https://interviewquestions.tuteehub.com/tag/supplied-3090548" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLIED">SUPPLIED</a>.</body></html> | |
| 7435. |
What does the averge fixed cost curve look like ? Why doesit look so ? |
| Answer» <html><body><p></p>Solution :The <a href="https://interviewquestions.tuteehub.com/tag/average-13416" style="font-weight:bold;" target="_blank" title="Click to know more about AVERAGE">AVERAGE</a> fixed cost (AFC) curve looks like a rectangularhyperbola. Ithappens because same <a href="https://interviewquestions.tuteehub.com/tag/amount-374803" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNT">AMOUNT</a> of fixed cost is divided by increasing output. As a result, , AFC curve slope downwardsand is a <a href="https://interviewquestions.tuteehub.com/tag/rectangular-1180623" style="font-weight:bold;" target="_blank" title="Click to know more about RECTANGULAR">RECTANGULAR</a> <a href="https://interviewquestions.tuteehub.com/tag/hyperbola-1034512" style="font-weight:bold;" target="_blank" title="Click to know more about HYPERBOLA">HYPERBOLA</a>, i.e., area under AFC remains same at different points.</body></html> | |
| 7436. |
What is the shape of TR curve, when price remains same at all output levels ? |
| 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> :TR curve is a positively <a href="https://interviewquestions.tuteehub.com/tag/sloped-7330990" style="font-weight:bold;" target="_blank" title="Click to know more about SLOPED">SLOPED</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/originating-587785" style="font-weight:bold;" target="_blank" title="Click to know more about ORIGINATING">ORIGINATING</a> from the origin.</body></html> | |
| 7437. |
The demand curve of a commodity may not obet the law of demand if price of its substitude rises. |
| 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> :With rise in price of substitutes, the demand <a href="https://interviewquestions.tuteehub.com/tag/curve-941741" style="font-weight:bold;" target="_blank" title="Click to know more about CURVE">CURVE</a> of the <a href="https://interviewquestions.tuteehub.com/tag/commondity-2530415" style="font-weight:bold;" target="_blank" title="Click to know more about COMMONDITY">COMMONDITY</a> <a href="https://interviewquestions.tuteehub.com/tag/may-557248" style="font-weight:bold;" target="_blank" title="Click to know more about MAY">MAY</a> not obey the law of demand because demand curve is drawn on an assumption that there is no <a href="https://interviewquestions.tuteehub.com/tag/change-913808" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGE">CHANGE</a> in other determinants of demand.</body></html> | |
| 7438. |
Distinguish between individual's demand and market demand. Name the factors affecting demand for a good by an individual. |
| 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> :Individual demand refers to the quantity of a commodity that a consumer is willing and able to buy, at different possible prices during a specific period of time.On the other hand, Market Demand refers to the quantity of a commodity that all consumers are willing and able to buy, at each possible <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> during a specific period of time. <br/>Market demand is horizontal <a href="https://interviewquestions.tuteehub.com/tag/summation-1234463" style="font-weight:bold;" target="_blank" title="Click to know more about SUMMATION">SUMMATION</a> of all the individual demands. <br/>Factors affecting demand for a good by an individual are :- <br/>(i) Price of related goods.<br/>(ii) Income of the consumer.<br/>(iii) Tastes and Preferences.<br/>(iv) Own price of the commodity.</body></html> | |
| 7439. |
Demand curveof a firm is perfectively Elastic under: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/perfect-1150611" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECT">PERFECT</a> competition<br/>Monopoly<br/>Monopolistic Competition<br/>Oligopoly</p>Solution :N/a</body></html> | |
| 7440. |
Explain the conditions of producer's equilibrium with help of a numerical example. Use marginal cost and marginal revenue approach. |
| 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> :N/a</body></html> | |
| 7441. |
A country 's resources are fully andefficiently employed. The problem of scarcity exist. What advice will be given to rise the efficiency level of the human resources to fight scarcity? |
| 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/spread-1222907" style="font-weight:bold;" target="_blank" title="Click to know more about SPREAD">SPREAD</a> of <a href="https://interviewquestions.tuteehub.com/tag/education-3167" style="font-weight:bold;" target="_blank" title="Click to know more about EDUCATION">EDUCATION</a> and <a href="https://interviewquestions.tuteehub.com/tag/training-1425328" style="font-weight:bold;" target="_blank" title="Click to know more about TRAINING">TRAINING</a>.</body></html> | |
| 7442. |
Define excess supply. |
| Answer» <html><body><p></p>Solution :It <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 a situation when the <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> <a href="https://interviewquestions.tuteehub.com/tag/supplied-3090548" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLIED">SUPPLIED</a> is more than the quantity demanded at the <a href="https://interviewquestions.tuteehub.com/tag/prevailing-2950879" style="font-weight:bold;" target="_blank" title="Click to know more about PREVAILING">PREVAILING</a> <a href="https://interviewquestions.tuteehub.com/tag/market-25464" style="font-weight:bold;" target="_blank" title="Click to know more about MARKET">MARKET</a> price.</body></html> | |
| 7443. |
Marginal cost refers to additionto the total cost whenone more unitof output is "______", |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/wasted-7299457" style="font-weight:bold;" target="_blank" title="Click to know more about WASTED">WASTED</a> <br/>Produced<br/>Employed <br/>Sold</p>Solution :N//A</body></html> | |
| 7444. |
All numerical information is not Statistics. (True/False) |
| 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/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a></body></html> | |
| 7445. |
The following table shows marks secured by the students of a class in an examination in English: {:("Marks",0-10,10-20,20-30,30-40,40-50),("Number of Students"," "20," "24," "40," "36," "20):} Calculte mean marks using Short-cut Method. |
| 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> :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TRJ_ECO_XI_C09_S01_007_S01.png" width="80%"/> <br/> `(sumfd)/(sumf)=(<a href="https://interviewquestions.tuteehub.com/tag/120-270396" style="font-weight:bold;" target="_blank" title="Click to know more about 120">120</a>)/(<a href="https://interviewquestions.tuteehub.com/tag/140-273392" style="font-weight:bold;" target="_blank" title="Click to know more about 140">140</a>)=0.86` <br/> `barX=A+(sumfd)/(sumf)` <br/> `=25+0.86` <br/> `=25.86`<br/> <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/marks-1088184" style="font-weight:bold;" target="_blank" title="Click to know more about MARKS">MARKS</a> = 25.86.</body></html> | |
| 7446. |
Explain the central problem of ’choice of technique’? |
| Answer» <html><body><p></p>Solution :Choice of technique” <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 the central problem of "HOW TO PRODUCE‟ that relates to the central issue of which technique of production should be <a href="https://interviewquestions.tuteehub.com/tag/employed-2611124" style="font-weight:bold;" target="_blank" title="Click to know more about EMPLOYED">EMPLOYED</a> to produce 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>. The problem is to use capital intensive technique or <a href="https://interviewquestions.tuteehub.com/tag/labour-1065391" style="font-weight:bold;" target="_blank" title="Click to know more about LABOUR">LABOUR</a> intensive technique for the production of goods in the economy.</body></html> | |
| 7447. |
Why is average total cost greater than average variable cost? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/average-13416" style="font-weight:bold;" target="_blank" title="Click to know more about AVERAGE">AVERAGE</a> <a href="https://interviewquestions.tuteehub.com/tag/total-711110" style="font-weight:bold;" target="_blank" title="Click to know more about TOTAL">TOTAL</a> cost (<a href="https://interviewquestions.tuteehub.com/tag/atc-364379" style="font-weight:bold;" target="_blank" title="Click to know more about ATC">ATC</a>) isgreater than averagevariable cost (AVC) because ATC also <a href="https://interviewquestions.tuteehub.com/tag/includes-1039937" style="font-weight:bold;" target="_blank" title="Click to know more about INCLUDES">INCLUDES</a> average fixed cost (AFC) in additionto AVC at all <a href="https://interviewquestions.tuteehub.com/tag/level-1072714" style="font-weight:bold;" target="_blank" title="Click to know more about LEVEL">LEVEL</a> of output.</body></html> | |
| 7448. |
A firm can maximise its sales either by selling low quantity at a higher price or by selling higher at a lower price ? Both yields the same revenue to the firm. Which one in youropinion will be right for him ? |
| Answer» <html><body><p></p>Solution :In my opinion he should sell a higher quantity by reducing <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> because by doing so he is following a policy which is socially desirable. It will be affordable for all the consumers as his <a href="https://interviewquestions.tuteehub.com/tag/revenues-25932" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUES">REVENUES</a> are not falling using this strategy, his business <a href="https://interviewquestions.tuteehub.com/tag/ethics-975961" style="font-weight:bold;" target="_blank" title="Click to know more about ETHICS">ETHICS</a> will <a href="https://interviewquestions.tuteehub.com/tag/also-373387" style="font-weight:bold;" target="_blank" title="Click to know more about ALSO">ALSO</a> be promoted.</body></html> | |
| 7449. |
Raw data are collected by investigator during the investigation. (True/False) |
| 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/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a></body></html> | |
| 7450. |
What change will take place in MR, when (i) TR increases at an increasing rate ,(ii) TR increases at a diminishing rate , (iii) TR increases at a constant rate. |
| 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 following change will <a href="https://interviewquestions.tuteehub.com/tag/take-662846" style="font-weight:bold;" target="_blank" title="Click to know more about TAKE">TAKE</a> <a href="https://interviewquestions.tuteehub.com/tag/place-1155224" style="font-weight:bold;" target="_blank" title="Click to know more about PLACE">PLACE</a> in MR : <br/> (i) MR will increase.(<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) MR will decrease positively.(iii) MR is constant</body></html> | |