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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.
| 7451. |
What are the two principal parts of a table? |
| Answer» <html><body><p><br/></p>Solution :(i) Table <a href="https://interviewquestions.tuteehub.com/tag/number-582134" style="font-weight:bold;" target="_blank" title="Click to know more about NUMBER">NUMBER</a>: A table <a href="https://interviewquestions.tuteehub.com/tag/must-2185568" style="font-weight:bold;" target="_blank" title="Click to know more about MUST">MUST</a> be numbered. Different tables must have different numbers, e.g., 1,2,3.., etc. These number must be in the same order as the tables. <br/> (ii) Title: A table must have a title. Title must be <a href="https://interviewquestions.tuteehub.com/tag/written-732709" style="font-weight:bold;" target="_blank" title="Click to know more about WRITTEN">WRITTEN</a> in bold <a href="https://interviewquestions.tuteehub.com/tag/letters-541242" style="font-weight:bold;" target="_blank" title="Click to know more about LETTERS">LETTERS</a>. It should attract the attention of the readers. The title must be simple, clear and short.</body></html> | |
| 7452. |
Increase in total product always indicates that there are increasing returns to a factor. |
| 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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a>. Increase in total product also <a href="https://interviewquestions.tuteehub.com/tag/indicates-1041501" style="font-weight:bold;" target="_blank" title="Click to know more about INDICATES">INDICATES</a> diminishing <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.</body></html> | |
| 7453. |
Thefollowing table shows marks in economics of the students of a class. Calculate arithmetic mean. {:("Marks",,"Number of Students"),("More than 0",,""30),("More than 2",,""28),("More than 4",,""24),("More than 6",,""18),("More than 8",,""10):} |
| Answer» <html><body><p></p>Solution :Converting Cumulative Frequency Distribution into a Simple Frequency Distribution, we get the following: <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TRJ_ECO_XI_C09_S01_010_S01.png" width="80%"/> <br/> <a href="https://interviewquestions.tuteehub.com/tag/arithmetic-15417" style="font-weight:bold;" target="_blank" title="Click to know more about ARITHMETIC">ARITHMETIC</a> mean of this <a href="https://interviewquestions.tuteehub.com/tag/continuous-932035" style="font-weight:bold;" target="_blank" title="Click to know more about CONTINUOUS">CONTINUOUS</a> series is <a href="https://interviewquestions.tuteehub.com/tag/estimated-975638" style="font-weight:bold;" target="_blank" title="Click to know more about ESTIMATED">ESTIMATED</a> below, <a href="https://interviewquestions.tuteehub.com/tag/using-7379753" style="font-weight:bold;" target="_blank" title="Click to know more about USING">USING</a> <a href="https://interviewquestions.tuteehub.com/tag/direct-954477" style="font-weight:bold;" target="_blank" title="Click to know more about DIRECT">DIRECT</a> Method. <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TRJ_ECO_XI_C09_S01_010_S02.png" width="80%"/><br/> `barX=(sumfm)/(sumf)=(190)/(30)=6.33` <br/> Arithmetic Mean = 6.33 marks.</body></html> | |
| 7454. |
Which of the shaded area in the diagrams below represent total utility? |
| Answer» <html><body><p><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/ECO_XI_B_U04_C15_E08_010_O01.png" width="30%"/><br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/ECO_XI_B_U04_C15_E08_010_O02.png" width="30%"/><br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/ECO_XI_B_U04_C15_E08_010_O03.png" width="30%"/><br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/ECO_XI_B_U04_C15_E08_010_O04.png" width="30%"/></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/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 7455. |
What is the relation betweenmarginal cost and average cost when average cost is rising ? |
| 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/marginal-555038" style="font-weight:bold;" target="_blank" title="Click to know more about MARGINAL">MARGINAL</a> <a href="https://interviewquestions.tuteehub.com/tag/cost-25707" style="font-weight:bold;" target="_blank" title="Click to know more about COST">COST</a> is more than <a href="https://interviewquestions.tuteehub.com/tag/average-13416" style="font-weight:bold;" target="_blank" title="Click to know more about AVERAGE">AVERAGE</a> Cost.</body></html> | |
| 7456. |
What is the shape of 'less than ogive'? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/rising-1189698" style="font-weight:bold;" target="_blank" title="Click to know more about RISING">RISING</a> upward<br/>Falling downward<br/>Parallel to X-axis<br/>Parallel to Y-axis</p>Solution :A</body></html> | |
| 7457. |
What is cartel |
| Answer» <html><body><p></p>Solution :Cartel is a group 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> which jointly set their output and <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> so as to exercise <a href="https://interviewquestions.tuteehub.com/tag/monopoly-1101092" style="font-weight:bold;" target="_blank" title="Click to know more about MONOPOLY">MONOPOLY</a> power.</body></html> | |
| 7458. |
What is the meant by break-even point ? |
| Answer» <html><body><p></p>Solution :The break-even point (BEP) or break-even level represents the <a href="https://interviewquestions.tuteehub.com/tag/sales-25569" style="font-weight:bold;" target="_blank" title="Click to know more about SALES">SALES</a> amount—in either unit (quantity) or revenue (sales) terms—that is required to cover total costs, <a href="https://interviewquestions.tuteehub.com/tag/consisting-930072" style="font-weight:bold;" target="_blank" title="Click to know more about CONSISTING">CONSISTING</a> of both fixed and <a href="https://interviewquestions.tuteehub.com/tag/variable-1442996" style="font-weight:bold;" target="_blank" title="Click to know more about VARIABLE">VARIABLE</a> costs to the <a href="https://interviewquestions.tuteehub.com/tag/company-924982" style="font-weight:bold;" target="_blank" title="Click to know more about COMPANY">COMPANY</a>.</body></html> | |
| 7459. |
The market supply of a commodity is affected by: |
| Answer» <html><body><p> <a href="https://interviewquestions.tuteehub.com/tag/state-21805" style="font-weight:bold;" target="_blank" title="Click to know more about STATE">STATE</a> of Technclogy<br/>Number of firms<br/>Government policy<br/>Allof these</p>Solution :All of these are the <a href="https://interviewquestions.tuteehub.com/tag/factors-458933" style="font-weight:bold;" target="_blank" title="Click to know more about FACTORS">FACTORS</a> which will <a href="https://interviewquestions.tuteehub.com/tag/affect-851195" style="font-weight:bold;" target="_blank" title="Click to know more about AFFECT">AFFECT</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> <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a>.</body></html> | |
| 7460. |
What would happen to be Market Equilibrium of a good if decrease in demand is equal to increase in supply. |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/equilibrium-974342" style="font-weight:bold;" target="_blank" title="Click to know more about EQUILIBRIUM">EQUILIBRIUM</a> <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> rises<br/>Equilibrium price rises<br/>Equilibrium quantity <a href="https://interviewquestions.tuteehub.com/tag/remains-621920" style="font-weight:bold;" target="_blank" title="Click to know more about REMAINS">REMAINS</a> same<br/>Equilibrium price remains same</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> | |
| 7461. |
Name the law expressing the relationship between the quantities of a variable factor and the quantities of output. |
| 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/law-184" style="font-weight:bold;" target="_blank" title="Click to know more about LAW">LAW</a> of <a href="https://interviewquestions.tuteehub.com/tag/variable-1442996" style="font-weight:bold;" target="_blank" title="Click to know more about VARIABLE">VARIABLE</a> <a href="https://interviewquestions.tuteehub.com/tag/proportions-1170335" style="font-weight:bold;" target="_blank" title="Click to know more about PROPORTIONS">PROPORTIONS</a>.</body></html> | |
| 7462. |
Suppose the price of a connodity 'x' is given as Rs 8 and the MU (in terms of money) for 4 units is given as : {:("Units",1,2,3,4,),(MU_(x) (Rs),12,10,8,6,):} How many units should a consumer purchase so that his satisfaction is maximum ? |
| Answer» <html><body><p></p>Solution :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C02_S01_004_S01.png" width="80%"/> <br/> Consumer will purchase <a href="https://interviewquestions.tuteehub.com/tag/3-301577" style="font-weight:bold;" target="_blank" title="Click to know more about 3">3</a> units because at `3^(<a href="https://interviewquestions.tuteehub.com/tag/rd-613594" style="font-weight:bold;" target="_blank" title="Click to know more about RD">RD</a>)` unit, MU = Price <br/> `**` The consumer will not purchase less than 3 units as `MU gt` Price and these is scope for <a href="https://interviewquestions.tuteehub.com/tag/increasing-1040633" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASING">INCREASING</a> the total satisfaction by purchasing more units. <br/>`**` <a href="https://interviewquestions.tuteehub.com/tag/similarly-1208242" style="font-weight:bold;" target="_blank" title="Click to know more about SIMILARLY">SIMILARLY</a>, consumer will not buy more than 3 units as `MU lt` Price and total satisfaction can be increased bypurchasing less quantity.</body></html> | |
| 7463. |
Total revenue can be obtained by adding up revenue generated from every additional unit. |
| 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/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a> : `TR=MR_(<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a>)+MR_(2)+...+MR_(<a href="https://interviewquestions.tuteehub.com/tag/n-568463" style="font-weight:bold;" target="_blank" title="Click to know more about N">N</a>)=sumMR`</body></html> | |
| 7464. |
Microeconomics is concerned with study of problems of the economy like inflation or unemployment. |
| Answer» <html><body><p></p>Solution :Macroeconomics in concerned with study of <a href="https://interviewquestions.tuteehub.com/tag/aggregates-851653" style="font-weight:bold;" target="_blank" title="Click to know more about AGGREGATES">AGGREGATES</a> <a href="https://interviewquestions.tuteehub.com/tag/lke-3710324" style="font-weight:bold;" target="_blank" title="Click to know more about LKE">LKE</a> inflation or <a href="https://interviewquestions.tuteehub.com/tag/unemployment-1437065" style="font-weight:bold;" target="_blank" title="Click to know more about UNEMPLOYMENT">UNEMPLOYMENT</a>.</body></html> | |
| 7465. |
Human wants are unlimited and differ in__________. |
| 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/intensity-1047474" style="font-weight:bold;" target="_blank" title="Click to know more about INTENSITY">INTENSITY</a> and <a href="https://interviewquestions.tuteehub.com/tag/urgency-1440909" style="font-weight:bold;" target="_blank" title="Click to know more about URGENCY">URGENCY</a></body></html> | |
| 7466. |
State the behaviour of Total Variable Cost. Draw Total Variable Cost, Total Cast and Total Fixed Cost Curvesin a single diagram. |
| 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 <a href="https://interviewquestions.tuteehub.com/tag/total-711110" style="font-weight:bold;" target="_blank" title="Click to know more about TOTAL">TOTAL</a> variable cost is the cost that <a href="https://interviewquestions.tuteehub.com/tag/varies-1443299" style="font-weight:bold;" target="_blank" title="Click to know more about VARIES">VARIES</a> with the change in the <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 and hence it increases as output increases and decreases as output decreases.</body></html> | |
| 7467. |
Explain why the demand curve facing a firm under monopolistic competition is negatively sloped. |
| Answer» <html><body><p></p>Solution :<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/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> <a href="https://interviewquestions.tuteehub.com/tag/curve-941741" style="font-weight:bold;" target="_blank" title="Click to know more about CURVE">CURVE</a> Monopolistic Competition".</body></html> | |
| 7468. |
How is law of demand derived from utility analysis? |
| Answer» <html><body><p></p>Solution :The inverse relation between price and demand of a commodity can be explained with the help of two priciples used in utility <a href="https://interviewquestions.tuteehub.com/tag/analysis-25709" style="font-weight:bold;" target="_blank" title="Click to know more about ANALYSIS">ANALYSIS</a>. <br/> (i) On the basis of principle `MU_(X) = "Price"_(X)` <br/> We know that a consumer is at equilibrium when `MU_(X)=P_(X)`. <br/> Assuming that the price of commodity X <a href="https://interviewquestions.tuteehub.com/tag/falls-983294" style="font-weight:bold;" target="_blank" title="Click to know more about FALLS">FALLS</a> implying that now `MU_(X) gt P_(X)`, it will <a href="https://interviewquestions.tuteehub.com/tag/induce-499186" style="font-weight:bold;" target="_blank" title="Click to know more about INDUCE">INDUCE</a> him to buy more of X. He will continue to buy more until `MU_(X)` falls and reaches at equilibrium again. <br/> It shows that when price of commodity falls, its demand rises (inverse relation between price and demand). <br/> (ii) On the basis of principle `(MU_(X))/(P_(X))=(MU_(Y))/(P_(Y))` <br/> The <a href="https://interviewquestions.tuteehub.com/tag/equality-974006" style="font-weight:bold;" target="_blank" title="Click to know more about EQUALITY">EQUALITY</a> between two determines condumer equilibrium. Assuming that the price 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> X falls implying that now `(MU_(X))/(P_(X)) gt (MU_(Y))/(P_(Y))`, it will induce the consumer to buy more of X as it given him more utility than Y. He will continue to buy more of X till he reaches equilibrium again. <br/> The above discussion shows that when price of a good falls its demand rises (inverse relation between price and demand).</body></html> | |
| 7469. |
Is it enough to say that profit is maximised when MC = MR ? |
| 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> :No, <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a> is <a href="https://interviewquestions.tuteehub.com/tag/maximised-7698281" style="font-weight:bold;" target="_blank" title="Click to know more about MAXIMISED">MAXIMISED</a> where-1. <a href="https://interviewquestions.tuteehub.com/tag/mr-549185" style="font-weight:bold;" target="_blank" title="Click to know more about MR">MR</a>=MC2. MC cuts MR from below.</body></html> | |
| 7470. |
What is a production possibility frontier? |
| Answer» <html><body><p></p>Solution :Production possibility frontier refers to a graphical <a href="https://interviewquestions.tuteehub.com/tag/representation-1185381" style="font-weight:bold;" target="_blank" title="Click to know more about REPRESENTATION">REPRESENTATION</a> of all the possible combinations of two <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a> that can be produced with 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> <a href="https://interviewquestions.tuteehub.com/tag/resources-11387" style="font-weight:bold;" target="_blank" title="Click to know more about RESOURCES">RESOURCES</a> and technology.</body></html> | |
| 7471. |
60 students of Section A of Class XI, obtained 40 mean marks in Statistics, 40 students of Section B obtained 35 mean marks in Statistics. Find out mean marks in Statistics for Class XI as a whole. |
| 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> :Given: <br/> `N_(1)=<a href="https://interviewquestions.tuteehub.com/tag/60-328817" style="font-weight:bold;" target="_blank" title="Click to know more about 60">60</a>,barX_(1)=<a href="https://interviewquestions.tuteehub.com/tag/40-314386" style="font-weight:bold;" target="_blank" title="Click to know more about 40">40</a>,N_(2)=40,barX_(2)=35` <br/> `"We know, "barX_(12)=(barX_(1)N_(1)+barX_(2)N_(2))/(N_(1)+N_(2))` <br/> `:.""barX_(12)=(40xx60+35xx40)/(60+40)` <br/> `:.""barX_(12)=(2,400+1,400)/<a href="https://interviewquestions.tuteehub.com/tag/100-263808" style="font-weight:bold;" target="_blank" title="Click to know more about 100">100</a>=(3,800)/100=38`<br/> <a href="https://interviewquestions.tuteehub.com/tag/thus-2307358" style="font-weight:bold;" target="_blank" title="Click to know more about THUS">THUS</a>, Combinaed Arithmetic Mean = 38.</body></html> | |
| 7472. |
Name the cost which does not change with change in output |
| 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/tfc-659819" style="font-weight:bold;" target="_blank" title="Click to know more about TFC">TFC</a></body></html> | |
| 7473. |
If all the units are sold at the same rate, how will it affect AR and MR ? |
| 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> will be <a href="https://interviewquestions.tuteehub.com/tag/equal-446400" style="font-weight:bold;" target="_blank" title="Click to know more about EQUAL">EQUAL</a> to MR and both the curves will be parallel to the X-axis <a href="https://interviewquestions.tuteehub.com/tag/coinciding-2525417" style="font-weight:bold;" target="_blank" title="Click to know more about COINCIDING">COINCIDING</a> with one <a href="https://interviewquestions.tuteehub.com/tag/another-876628" style="font-weight:bold;" target="_blank" title="Click to know more about ANOTHER">ANOTHER</a>.</body></html> | |
| 7474. |
The total output generated by the first four units of variable input is 200 units, 350 units, 450 units and 500 units. The marginal product of the third unit of input is : |
| 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> units<br/>100 units<br/>150 units<br/>200 units</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> | |
| 7475. |
What is the shape of perfecitly inelastic demand curve ? |
| 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/perfectly-7309466" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECTLY">PERFECTLY</a> inelastic demand 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> or it is parallel to Y-axis.</body></html> | |
| 7476. |
An indifference schedule is based on the assumption that |
| Answer» <html><body><p>The consumer consumes only <a href="https://interviewquestions.tuteehub.com/tag/two-714195" style="font-weight:bold;" target="_blank" title="Click to know more about TWO">TWO</a> goods <br/><a href="https://interviewquestions.tuteehub.com/tag/preferences-1163219" style="font-weight:bold;" target="_blank" title="Click to know more about PREFERENCES">PREFERENCES</a> are ordinal.<br/>Marginal rate of <a href="https://interviewquestions.tuteehub.com/tag/substitution-1231654" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSTITUTION">SUBSTITUTION</a> is decreasing <br/>All the above </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> :D</body></html> | |
| 7477. |
Which of the following formulae is used to find out P(77) in frequency distribution ? |
| Answer» <html><body><p><<a href="https://interviewquestions.tuteehub.com/tag/p-588962" style="font-weight:bold;" target="_blank" title="Click to know more about P">P</a>>`l_(1)-(77(N/(<a href="https://interviewquestions.tuteehub.com/tag/10-261113" style="font-weight:bold;" target="_blank" title="Click to know more about 10">10</a>))-c.f.)/(f)<a href="https://interviewquestions.tuteehub.com/tag/xxi-747680" style="font-weight:bold;" target="_blank" title="Click to know more about XXI">XXI</a>`<br/>`l_(1)+(77(N/(10))-c.f.)/(f)xxi`<br/>`l_(1)-(77(N/(<a href="https://interviewquestions.tuteehub.com/tag/100-263808" style="font-weight:bold;" target="_blank" title="Click to know more about 100">100</a>))-c.f.)/(f)xxi`<br/>`l_(1)+(77(N/(100))-c.f.)/(f)xxi`</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> :P(77)=`l_(1)+(77(N/(100))-c.f.)/(f)xxi`</body></html> | |
| 7478. |
Give two examples ofmicroeconomic. |
| 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/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</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> equilibirium2. <a href="https://interviewquestions.tuteehub.com/tag/producer-1167788" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCER">PRODUCER</a> <a href="https://interviewquestions.tuteehub.com/tag/equilibirium-974338" style="font-weight:bold;" target="_blank" title="Click to know more about EQUILIBIRIUM">EQUILIBIRIUM</a></body></html> | |
| 7479. |
Equilibrium quantity and equilibrium price remain same even with increase or decrease in demand in case of perfectly inelastic 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> :There will be no change in equilibrium quantity, but the 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> will rise with <a href="https://interviewquestions.tuteehub.com/tag/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a> 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> and will fall with <a href="https://interviewquestions.tuteehub.com/tag/decrease-946104" style="font-weight:bold;" target="_blank" title="Click to know more about DECREASE">DECREASE</a> in demand.</body></html> | |
| 7480. |
when is the demand of a commondity said to be inelastic ? OR Give the meaning of 'inelastic 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 <a href="https://interviewquestions.tuteehub.com/tag/percentage-13406" style="font-weight:bold;" target="_blank" title="Click to know more about PERCENTAGE">PERCENTAGE</a> change in the quantity demanded is less than percentage change in price, then demand for such 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> is said to be less <a href="https://interviewquestions.tuteehub.com/tag/elastic-967540" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTIC">ELASTIC</a>.</body></html> | |
| 7481. |
Which fetures of monopolistic competition are competitive in nature? |
| Answer» <html><body><p></p>Solution :(i) <a href="https://interviewquestions.tuteehub.com/tag/large-1066424" style="font-weight:bold;" target="_blank" title="Click to know more about LARGE">LARGE</a> <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 <a href="https://interviewquestions.tuteehub.com/tag/sellers-1200267" style="font-weight:bold;" target="_blank" title="Click to know more about SELLERS">SELLERS</a> <br/> (ii) Freedom of entry and <a href="https://interviewquestions.tuteehub.com/tag/exit-979843" style="font-weight:bold;" target="_blank" title="Click to know more about EXIT">EXIT</a></body></html> | |
| 7482. |
Distinguish between : (a) individual demand and market demand , (b) Change in demand and change in quantity demanded. |
| Answer» <html><body><p></p>Solution :(a) Individual demand refers to the quantity of a commodity 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 and able to <a href="https://interviewquestions.tuteehub.com/tag/buy-391430" style="font-weight:bold;" target="_blank" title="Click to know more about BUY">BUY</a>, 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 price during a specific period of time. <br/>Market demand is horizontal summation of all the individual demands. <br/>Factors affecting demand for a good by an individual are :- <br/>(b) (i) When the quantity demanded changes due to a change in own price of the commodity, keeping other factors constant, it is known as change in quantity demanded whereas when the demand changes due to a change in other factors other than the price of the commodity, it is known as change in demand.<br/>(ii) Change in quantity demanded leads to a <a href="https://interviewquestions.tuteehub.com/tag/movement-1104563" style="font-weight:bold;" target="_blank" title="Click to know more about MOVEMENT">MOVEMENT</a> along 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> whereas change in demand leads to a <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.</body></html> | |
| 7483. |
Define utility. Explain the relationship between TU and MU curves Or Define utility Explain the law of DMU Or Explain the law of DMU with the help of an example. Or Explain the law of diminishing marginal utility using TV schedule. |
| Answer» <html><body><p></p>Solution :Utility is a term used by <a href="https://interviewquestions.tuteehub.com/tag/economists-448633" style="font-weight:bold;" target="_blank" title="Click to know more about ECONOMISTS">ECONOMISTS</a> to describe the measurement of "useful-ness" 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> obtains from any <a href="https://interviewquestions.tuteehub.com/tag/good-1009017" style="font-weight:bold;" target="_blank" title="Click to know more about GOOD">GOOD</a>. <br/>Mu goes on diminishing as the consumer consumes more and more units of a commodity. There is an <a href="https://interviewquestions.tuteehub.com/tag/inverse-1050621" style="font-weight:bold;" target="_blank" title="Click to know more about INVERSE">INVERSE</a> relationship between MU and stock of the commodity i.e. as the stock of the commodity consumed increases, MU goes on diminishing. <a href="https://interviewquestions.tuteehub.com/tag/3-301577" style="font-weight:bold;" target="_blank" title="Click to know more about 3">3</a>. When MU is Zero, TU is the maximum and it is the point of maximum satisfaction.</body></html> | |
| 7484. |
Which Law states that. ''When a consumer consumes more and more units of a product, the utility derived from each additional unit decreases''? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/law-184" style="font-weight:bold;" target="_blank" title="Click to know more about LAW">LAW</a> of Equi-<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<br/>Law of <a href="https://interviewquestions.tuteehub.com/tag/ordinal-583945" style="font-weight:bold;" target="_blank" title="Click to know more about ORDINAL">ORDINAL</a> Utility<br/>Law of <a href="https://interviewquestions.tuteehub.com/tag/cardinal-406847" style="font-weight:bold;" target="_blank" title="Click to know more about CARDINAL">CARDINAL</a> Utility<br/>Law of <a href="https://interviewquestions.tuteehub.com/tag/diminishing-2044202" style="font-weight:bold;" target="_blank" title="Click to know more about DIMINISHING">DIMINISHING</a> Marginal Utility</p>Answer :D</body></html> | |
| 7485. |
How wm a change in price of coffee affect the equilibrium price of tea? Explain the effect on equilibrium quantity aJso through a diagram. |
| Answer» <html><body><p></p>Solution :A change 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> of coffee will directly influence the equilibrium price and <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> of tea as coffee is a substitute of tea. <br/> An increase in price of coffee will make tea relatively <a href="https://interviewquestions.tuteehub.com/tag/cheaper-914664" style="font-weight:bold;" target="_blank" title="Click to know more about CHEAPER">CHEAPER</a> and demand for tea will rise. It will <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 excess demand.<br/> On the other hand, a decrease in price of coffee will decrease the demand tor tea as tea will become relatively <a href="https://interviewquestions.tuteehub.com/tag/costly-426705" style="font-weight:bold;" target="_blank" title="Click to know more about COSTLY">COSTLY</a>. It will lead to excess supply.</body></html> | |
| 7486. |
Find the missing information in the following table: {:(,,A,,B,,C,,"Combined"),("Number(N)",,10,,8,,-,,""24),("Mean"(barX),,20,,-,,6,,""15):} |
| Answer» <html><body><p></p>Solution :Missing number for C = 24 - (10+<a href="https://interviewquestions.tuteehub.com/tag/8-336412" style="font-weight:bold;" target="_blank" title="Click to know more about 8">8</a>) = 6 <br/> Let <a href="https://interviewquestions.tuteehub.com/tag/mean-1091459" style="font-weight:bold;" target="_blank" title="Click to know more about MEAN">MEAN</a> for B = x<br/> We know that, <br/> `barX_(<a href="https://interviewquestions.tuteehub.com/tag/123-271064" style="font-weight:bold;" target="_blank" title="Click to know more about 123">123</a>)=(barX_(1)N_(1)+barX_(2)N_(2)+barX_(3)N_(3))/(N_(1)+N_(2)+N_(3))` <br/> `:. ""15=((20xx10)+(8xxx)+(6xx6))/24`<br/> `200+8x+36=15 xx 24` <br/> `<a href="https://interviewquestions.tuteehub.com/tag/rarr-1175461" style="font-weight:bold;" target="_blank" title="Click to know more about RARR">RARR</a>""236+8x=360` <br/> `rArr""8x=360-236` <br/> `rArr""8x=124` <br/> `rArr""x=(124)/8` <br/> `rArr""x = 15.5`<br/> Thus, Missing Number for C = 6. <br/> Mean of B = `15.5`.</body></html> | |
| 7487. |
Define marginal revenue. |
| 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> :Marginal <a href="https://interviewquestions.tuteehub.com/tag/revenue-1188040" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUE">REVENUE</a> is the <a href="https://interviewquestions.tuteehub.com/tag/extra-447191" style="font-weight:bold;" target="_blank" title="Click to know more about EXTRA">EXTRA</a> revenue earned from the sale of one extra unit of <a href="https://interviewquestions.tuteehub.com/tag/output-1142821" style="font-weight:bold;" target="_blank" title="Click to know more about OUTPUT">OUTPUT</a>.</body></html> | |
| 7488. |
Ceteris paribus, if the government provides subsidies on electricity bills, what would be the likely change in the market demand of desert coolers? |
| 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> :By <a href="https://interviewquestions.tuteehub.com/tag/giving-1007655" style="font-weight:bold;" target="_blank" title="Click to know more about GIVING">GIVING</a> subsides on electricity <a href="https://interviewquestions.tuteehub.com/tag/bills-897480" style="font-weight:bold;" target="_blank" title="Click to know more about BILLS">BILLS</a>, Price (Tariff) for electricity goes down which will increase <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> of electricity resulting in increase in demand for desert coolers</body></html> | |
| 7489. |
Explain the implicatin of 'freedom of entry and exit of the firms' under perfect competition. Or Explain the implication of 'perfect knowledge of a market' under perfect competition, |
| Answer» | |
| 7490. |
Whichof thefollowing is nota essentialelement ofsupply ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/highly-2102664" style="font-weight:bold;" target="_blank" title="Click to know more about HIGHLY">HIGHLY</a> elastic <br/>Unitaryelastic <br/><a href="https://interviewquestions.tuteehub.com/tag/perfectly-7309466" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECTLY">PERFECTLY</a> inelastic <br/>Less elastic </p>Solution : correct answer is (B). because it is just an imaginary situation when the change in quantity supplied is exactly <a href="https://interviewquestions.tuteehub.com/tag/equal-446400" style="font-weight:bold;" target="_blank" title="Click to know more about EQUAL">EQUAL</a> to change in the <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> (unitary elastic).</body></html> | |
| 7491. |
"_________" refers to a situation when a firm has no intention expand or contract the output. |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/producer-1167788" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCER">PRODUCER</a>'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> <br/><a href="https://interviewquestions.tuteehub.com/tag/market-25464" style="font-weight:bold;" target="_blank" title="Click to know more about MARKET">MARKET</a> Equilibrium<br/>Consumer's Equilibrium <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 :N/a</body></html> | |
| 7492. |
Define utility |
| 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/utility-1441817" style="font-weight:bold;" target="_blank" title="Click to know more about UTILITY">UTILITY</a> is an <a href="https://interviewquestions.tuteehub.com/tag/economic-448435" style="font-weight:bold;" target="_blank" title="Click to know more about ECONOMIC">ECONOMIC</a> term <a href="https://interviewquestions.tuteehub.com/tag/referring-2982035" style="font-weight:bold;" target="_blank" title="Click to know more about REFERRING">REFERRING</a> to the satisfaction received from consuming 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> or service.</body></html> | |
| 7493. |
Define Price Floor. What is the common purpose of fixation of floor price by the government? Explain any one likely consequence of this nature of intervention by the government. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> floor is the minimum price <a href="https://interviewquestions.tuteehub.com/tag/fixed-457597" style="font-weight:bold;" target="_blank" title="Click to know more about FIXED">FIXED</a> for 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> by the government (above the equilibrium price), which must be paid to the producers for their produce.<br/>The need for price floor arises when the government finds that equilibrium price is too low for the producers.As a result of price floor, the market price is above the equilibrium price, leading to <a href="https://interviewquestions.tuteehub.com/tag/excess-978535" style="font-weight:bold;" target="_blank" title="Click to know more about EXCESS">EXCESS</a> supply. This often leads to illegal selling of their produce by the producers since they are not able to sell the commodity at the price <a href="https://interviewquestions.tuteehub.com/tag/set-11758" style="font-weight:bold;" target="_blank" title="Click to know more about SET">SET</a> by the government.</body></html> | |
| 7494. |
When marginal revenue is positive and constant, average and total revenue will both increase at 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> :False : Only total revenue will <a href="https://interviewquestions.tuteehub.com/tag/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a> at a <a href="https://interviewquestions.tuteehub.com/tag/costant-2550125" style="font-weight:bold;" target="_blank" title="Click to know more about COSTANT">COSTANT</a> rate, whereas, average revenue will be <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> | |