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Question-1
When price of substitutes and costs of production rises, it leads to :
(A)
Contraction in supply
(B)
Decrease in supply
(C)
Expansion in supply
(D)
Increase in supply
Question-2
The supply in the long period is
(A)
Inelastic
(B)
Elastic
(C)
Perfectly Inelastic
(D)
Perfectly Elastic
Question-3
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-4
Supply curve presents
(A)
Price of the commodity
(B)
Supply of the commodity
(C)
Relationship between price and supply of the commodity
(D)
Demand of the commodity
Question-5
In _______ the supply is inelastic.
(A)
Short Period
(B)
Long Period
(C)
Initial Stage
(D)
Final Stage
Question-6
Seller is generally not willing to sell commodities below:
(A)
Marginal Price
(B)
Average Price
(C)
Reserve Price
(D)
Neither of the above
Question-7
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-8
The value of elasticity of supply ranges from
(A)
One to infinity
(B)
Zero to infinity
(C)
Minus infinity to plus infinity
(D)
Zero to minus infinity
Question-9
Change in supply due to increase in price is termed ________ supply.
(A)
Contraction of
(B)
Extension of
(C)
Increase in
(D)
Decrease in
Question-10
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
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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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