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Question-1
If 10% increase in the price of scooters increases supply of scooter by 20% the supply of scooters will be
(A)
Perfectly Elastic
(B)
Elastic (more than unit)
(C)
Inelastic
(D)
Perfectly Inelastic
Question-2
If value of Es > 1, it is called
(A)
Inelastic Supply
(B)
Elastic Supply
(C)
Perfectly elastic supply
(D)
Perfectly inelastic supply
Question-3
Elasticity of supply is given by the formula
(A)
(B)
(C)
(D)
Question-4
The supply in the long period is
(A)
Inelastic
(B)
Elastic
(C)
Perfectly Inelastic
(D)
Perfectly Elastic
Question-5
When supply curve is horizontal Es =
(A)
Zero
(B)
1
(C)
∞
(D)
Es > 1
Question-6
Law of supply is
(A)
Quantitative
(B)
Qualitative
(C)
Both 1 and 2
(D)
Neither of the two
Question-7
In case _______ the supply is inelastic.
(A)
Of decreasing marginal cost
(B)
Of increasing marginal cost
(C)
Of marginal cost remaining constant
(D)
The law of increasing return is in operation
Question-8
Supply of the rare coins is
(A)
Inelastic
(B)
Perfectly Inelastic
(C)
Elastic
(D)
Perfectly Elastic
Question-9
Increase in supply due to causes other than change in price is termed as ________ supply.
(A)
Decrease in
(B)
Increase in
(C)
Extension of
(D)
Contraction of
Question-10
If price of substitute goods fall, then it will lead to
(A)
Decrease in supply
(B)
Increase in supply
(C)
No change in supply
(D)
Constant
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Plus 2 Commerce
Kerala (English Medium)
Practice in Related Chapters
INTRODUCTION TO MICROECONOMICS - THEORY
CONSUMER BEHAVIOUR AND DEMAND
THEORY OF CONSUMER BEHAVIOUR
INTRODUCTION TO MACRO ECONOMICS
Money and Banking
The Theory of Consumer Behaviour (Micro)
Market Equilibrium Under Perfect Competition (Micro)
Elasticity of Demand (Micro)
Theory of Demand (Micro)
Introduction to Micro Economics
Production Function-Returns to a Factor(Micro)
Supply and Elasticity of Supply (Micro)
Cost, Revenue and Producer's Equilibrium(Micro)
Forms of Market (Micro)
The Theory of the firm Under Perfect Competition
Aggreggate Demand and Aggregate Supply
National Income Accounting and Circular flow of Income (Macro)
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