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Economics Mcqs 4423 MCQs [All-Courses]

Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

For a competitive firm, its short run supply curve is __ and its long run supply curve is _?

A SMC, LMC

B SMC above SAVC, LMC above LAC

C SMC below SAVC, LMC above LAC

D SMC below SAVC, LMC bellow LAC

Review Detailed Answer

Correct Answer: SMC above SAVC, LMC above LAC

In the short run a firm will produce zero output if ?

A price is greater than short run average total cost

B price is between short run average total cost and short run average variable cost

C price is less than short run average variable cost

D profit is zero

Review Detailed Answer

Correct Answer: price is less than short run average variable cost

Short run average total costs are equals to the sum of and _?

A Short run opportunity costs, profit

B Short run variable costs, profit

C Short run average variable costs, profit

D Short run average variable costs, profit run average fixed costs

Review Detailed Answer

Correct Answer: Short run average variable costs, profit

When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?

A greater than average cost, greater than average cost

B less than average cost, greater than average cost

C less than average cost, less than average cost

D greater than average cost, less than average cost

Review Detailed Answer

Correct Answer: less than average cost, greater than average cost

If a long run average cost curve is falling form left to right this is an example of ?

A increasing returns to scale

B decreasing returns to scale

C constant returns to scale

D the minimum efficient scale

Review Detailed Answer

Correct Answer: increasing returns to scale

In monopolistic competition ?

A There are few sellers

B There are few buyers

C There is one seller

D There are many sellers

Review Detailed Answer

Correct Answer: There is one seller

If a firm takes over a competitor then, according to porter’s 5 forces model ?

A Buyer power is higher

B Supplier power is higher

C Substitute threat is higher

D Rivalry is lower

Review Detailed Answer

Correct Answer: Supplier power is higher

In monopolistic competition of firms are making abnormal profit other firms will enter and ?

A The marginal cost will shift outwards

B the demand curve will shift inwards

C The average cost will shift downwards

D The average variable cost will increase

Review Detailed Answer

Correct Answer: The marginal cost will shift outwards

Which of the following is not one of the four Ps in marketing ?

A Product

B Price

C Place

D Presence

Review Detailed Answer

Correct Answer: Product

In monopolistic competition ?

A Demand is perfectly elastic

B Products are homogeneous

C Marginal revenue = price

D The marginal revenue is below the demand curve and diverges

Review Detailed Answer

Correct Answer: The marginal revenue is below the demand curve and diverges

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

For a competitive firm, its short run supply curve is __ and its long run supply curve is _?

In the short run a firm will produce zero output if ?

Short run average total costs are equals to the sum of and _?

When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?

If a long run average cost curve is falling form left to right this is an example of ?

In monopolistic competition ?

If a firm takes over a competitor then, according to porter’s 5 forces model ?

In monopolistic competition of firms are making abnormal profit other firms will enter and ?

Which of the following is not one of the four Ps in marketing ?

In monopolistic competition ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

For a competitive firm, its short run supply curve is ______ and its long run supply curve is _____?

In the short run a firm will produce zero output if ?

Short run average total costs are equals to the sum of ____ and _____?

When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?

If a long run average cost curve is falling form left to right this is an example of ?

In monopolistic competition ?

If a firm takes over a competitor then, according to porter’s 5 forces model ?

In monopolistic competition of firms are making abnormal profit other firms will enter and ?

Which of the following is not one of the four Ps in marketing ?

In monopolistic competition ?

For a competitive firm, its short run supply curve is __ and its long run supply curve is _?

Short run average total costs are equals to the sum of and _?