[Just for Study] Fwd: eco quizzzzzzz

BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 89
sec(s)
Question # 1 of 10 ( Start time: 07:46:46 PM ) Total Marks: 1
Prospective sunk costs:
Select correct option:
Are relevant to economic decision-making.
Are considered as investment decisions.
Rise as output rises.
Do not occur when output equals zero. 4th


BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 89
sec(s)
Question # 2 of 10 ( Start time: 07:47:54 PM ) Total Marks: 1
An isoquant:
Select correct option:
Must be linear.
Cannot have a negative slope.
Is a curve that shows all the combinations of inputs that yield the same total output.
Is a curve that shows the maximum total output as a function of the level of labor input.
3rd

BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 89
sec(s)
Question # 3 of 10 ( Start time: 07:49:22 PM ) Total Marks: 1
Which of the following would cause a shift to the right of the supply curve for gasoline? I. A large increase in the price of public transportation. II. A large decrease in the price of automobiles. III. A large reduction in the costs of producing gasoline.
Select correct option:
I only.
II only.
III only.
II and III only.
2nd

BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 89
sec(s)
Question # 4 of 10 ( Start time: 07:50:51 PM ) Total Marks: 1
If price is between AVC and ATC, the best and most practical thing for a perfectly competitive firm to do is:
Select correct option:
Raise prices.
Lower prices to gain revenue from extra volume.
Shut down immediately, but not liquidate the business.
Continue operating, but plan to go out of business.
1st

BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 89
sec(s)
Question # 5 of 10 ( Start time: 07:52:18 PM ) Total Marks: 1
The amount of output that a firm decides to sell has no effect on the market price in a competitive industry because:
Select correct option:
The market price is determined (through regulation) by the government.
The firm supplies a different good than its rivals.
The firm's output is a small fraction of the entire industry's output.
The short run market price is determined solely by the firm's technology.
1st

BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 89
sec(s)
Question # 6 of 10 ( Start time: 07:53:24 PM ) Total Marks: 1
The law of diminishing returns applies to:
Select correct option:
The short run only.
The long run only.
Both the short and the long run.
Neither the short nor the long run.
3rd
BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 89
sec(s)
Question # 7 of 10 ( Start time: 07:54:19 PM ) Total Marks: 1
In an unregulated, competitive market consumer surplus exists because some:
Select correct option:
Sellers are willing to take a lower price than the equilibrium price.
Consumers are willing to pay more than the equilibrium price.
Sellers will only sell at prices above equilibrium price (or actual price).
Consumers are willing to make purchases only if the price is below the actual price.

4th

BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 89
sec(s)
Question # 8 of 10 ( Start time: 07:55:47 PM ) Total Marks: 1
Which of the following is a positive statement?
Select correct option:
The minimum wage should not be increased, because to do so would increase unemployment.
Smoking should be restricted on all airline flights.
All automobile passengers should be required to wear seatbelts in order to protect them against injury.
None of the given options.
3rd
BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 88
sec(s)
Question # 9 of 10 ( Start time: 07:57:20 PM ) Total Marks: 1
Which of the following is true concerning the income effect of a decrease in price?
Select correct option:
It will lead to an increase in consumption only for a normal good.
It always will lead to an increase in consumption.
It will lead to an increase in consumption only for an inferior good.
It will lead to an increase in consumption only for a Giffen good.
1st

BC080200179 : Syeda Aqsa Bukhari



Quiz Start Time: 07:46 PM
Time Left 89
sec(s)
Question # 10 of 10 ( Start time: 07:58:52 PM ) Total Marks: 1
Generally, long-run elasticities of supply are:
Select correct option:
Greater than short-run elasticities, because existing inventories can be exploited during shortages.
Greater than short-run elasticities, because consumers have time to find substitutes for the good.
Greater than short-run elasticities, because firms can make alterations to plant size and input combinations to be more flexible in production.
Smaller than short-run elasticities, because the firm has made long-term commitments it cannot easily modify.

4th

---------- Forwarded message ----------
From: (¯`·._.·[$weet p@ri]·._.·´¯) <bc080400483@vu.edu.pk>
Date: Sun, Feb 28, 2010 at 2:48 AM
Subject: eco quizzzzzzz
To: new-virtual-university-pakistan@googlegroups.com, virtual-university-pakistan@googlegroups.com, virtual-university-of-pakistan-2009@googlegroups.com, lakodajin@googlegroups.com, mba2009springhar@googlegroups.com, mba_vu@googlegroups.com, girls-community@googlegroups.com, VU Discussion Group <discussion_vu@googlegroups.com>, vu-pak-veranda@googlegroups.com, fiza khan <maryankhan23@gmail.com>, k gr <kgr1rose@gmail.com>




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