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Economics Mcqs — Test 54

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Question 1
The total costs are Rs2000 and 10 units are produced. The marginal cost of an 11th unit is Rs1300 Which of the following is true ?
Question 2
An outward shift of the production possibility frontier may be caused by ?
Question 3
The law of diminishing returns assumes ?
Question 4
The first level of output at which the long run average cost are minimized is called ?
Question 5
Economic growth can be shown by ?
Question 6
In a free market the combination of products produced will be determined by ?
Question 7
An economy may operate outside the production possibility Frontier if ?
Question 8
The resources in an economy are ?
Question 9
Privatisation is the transfer out ?
Question 10
Which of the following statements supports deregulation of industries ?