Economics Mcqs — Test 79
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Question 1
If a benevolent social planner chooses to producer less than the equilibrium quantity of a good, then ?
Question 2
The seller’s cost of production is ?
Question 3
If a market is efficient then_______?
Question 4
Medical care clearly enhance people’s lives. Therefore, we should consume medical care until ?
Question 5
Jamil has ten pairs of football boots and saleem has none. A pair of football boots cost Rs50. to produce. If jamil values an additional pair of boots at RS100 and saleem values a pair of boots at Rs40, then the maxime ?
Question 6
A buyer’s willingness to pay is that buyer’s ?
Question 7
An increase in the price of a good along a stationary demand curve ?
Question 8
Producer surplus is the area ?
Question 9
Consumer surplus is the area ?
Question 10
If a buyer’s willingness to pay for a new Honda is Rs20,000 and she is able to actually buy it for Rs18,000 her consumer surplus is ?