Consumer Economics Quiz
Consumer Economics Quiz
Test your knowledge of consumer economics with this engaging quiz! Designed for students and enthusiasts alike, this quiz will challenge your understanding of demand curves, consumer surplus, and pricing strategies.
Key features:
- 10 thought-provoking questions
- Multiple choice format
- Score tracking to gauge your performance
The price line of consumer is:-
Parallel to x axis
Parallel to y axis
Straight line joining the two axis
None
The quantity demanded is a
Flow concept
Stock concept
Both
None of these
Average revenue curve is also known as :-
Profit curve
Demand curve
Avg. Cost curve
None
If the average cost is higher than average revenue than firm:-
Earn loss
Earn abnormal profit
No profit, no loss
Earn normal profit
Consumer surplus in the case of Necessities
High
Low
Infinity
Zero
Elasticity between two point of demand curve called:-
Point elasticity
Arc elasticity
Cross elasticity
None
Find TVC of 5 th unit
30
80
110
40
According the photo of Q7. Find MC of 5th unit:-
30
40
20
100
According the picture of Q7. Find TC on 2nd unit:-
50
76
33
60
According the photo of Q7. Find AVC of 3rd unit
19
18
36
100
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