PPSC FPSC Lecturer Economics Online Test 21 Solved MCQs

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There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
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 Test Instructions:- Test Name Lecturer EconomicsÂ Subject Economics Test 21 Test Type MCQs Total Questions 25 Total Time 20 Minutes Total Marks 100
0%

You have 20 minutes to pass to the quiz.

PPSC LECTURER OF ECONOMICS ONLINE PRACTICE TEST NO. 21

1 / 25

Returns to scale refers to the .......................... analysis of laws of production:

2 / 25

The relationship between marginal revenue and price is explained by the...........................of demand:

3 / 25

Law material bears ...................... relation to output at all level of production:

4 / 25

Marginal revenue is defined as the change in ......................resulting in selling additional unit of commodity:

5 / 25

Modern cost theory introduces the concept of................... capacity:

6 / 25

Isoquant shows all possible combination of two factors of production ......................... and.................... to produce a given level of output:

7 / 25

If price elasticity of demand is unitary elastic (e = 1), Slope of total revenue will be .................. and marginal revenue will be

8 / 25

If elasticity is equal to infinity, Demand curve is:

9 / 25

Production function shows the technical relationship between .................and .....................

10 / 25

Excess Capacity implies that there is ................where firm can produce optimally:

11 / 25

The Slope of the isoquant is called:

12 / 25

Total expenditure of consumers in market is derived by:

13 / 25

Market demand is defined as:

14 / 25

Linear isoquant shows the ........................... substitutability of factors of production:

15 / 25

If elasticity is equal to 1, Demand curve is:

16 / 25

kinked isoquant shows the ............................ substitutability of factors of production:

17 / 25

If price elasticity of demand is more elastic (e > 1), Slope of total revenue will be ................... and marginal revenue will .................................

18 / 25

Input-Output isoquant shows the........................substitutability of factors of production:

19 / 25

The elasticity of substitution of factors is defined as the percentage change in .................... divided by the percentage change in .....................

20 / 25

There is concept of ........................ in traditional Theory of Cost:

21 / 25

Marginal product is defined as the change in..................due to change in ......................

22 / 25

Efficiency parameter in production function refers to the ............................ efficiency:

23 / 25

Total revenue of firm is obtained as the product of .................. and its ..............

24 / 25

If price elasticity of demand is less elastic (e < 1), Slope of total revenue will be ..................and marginal revenue will be:

25 / 25

Total expenditure of consumers of purchasing particular commodity is equal to the ............... of the firms selling the particular commodity: