last+final+by+saqib

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BY: saqib taimoor [email protected] FINALTERM EXAMINATION (1 Fa!! "##$ E%O&#1' Ecoomics ()*ssio ' & Tim*: 1"# mi Mar+s: ,- /*stio No: 1 ( Mar+s: 1 ' 0!*as* choos* o*  I th* q/atity 2*ma2*2 o a 3ro2/ct is 4r*at*r tha th* q/atity s/33!i*2 o a 3ro2/ct5 th*:  Th*r* is a shorta4* o th* 3ro2/ct  .   There is a surplus of the product.   The product is a normal good.   The product is an inferior good.  /*stio No: " ( Mar+s: 1 ' 0!*as* choos* o*  Th* cross 3ric* *!asticity o 2 *ma2 or com3!*m*tary 4oo2s is:   Less than 0.   Equal to 0.   Greater than 0.   B*t 6** # a2 1. /*stio No: 7 ( Mar+s: 1 ' 0!*as* choos* o*  Ass/m* !*is/r* is a orma! 4oo2. I icom* **ct *q/a!s s/bstit/tio **ct th* a 6a4* rat* icr*as* 6i!! !*a2 a 3*rso to:   Increase hours of work.   8*cr*as* ho/rs o 6or+.  Not change hours of work.   None of the given options.  /*stio No: & ( Mar+s: 1 ' 0!*as* choos* o*   999999999999999 aris*s 6h* a icr*as* i a!! i3/ts !*a2s to a mor*'tha'3ro3ortioa! icr*as* i th* !**! o o/t 3/t . 9 m*as that as i3/ts ar* a22*2 to th* 3ro2/ctio 3roc*ss5 o/t3/t icr*as*s 3ro3ortioa!!y. Ecoomi*s o sca!*; costat r*t/rs to sca!*  .   Constant returns to scale decreasing returns to scale.   !ecreasing returns to scale economies of scale.   Economies of scale decreasing returns to scale.  /*stio No: < ( Mar+s: 1 ' 0!*as* choos* o*  A isoq/at c/r* sho6s:   A!! th* a!t*rati* combi atios o t6o i3/ts that yi*!2 th* sam* ma=im/m tota! 3ro2/ct.   "ll the alternative com#inations of two products that can #e produced #$ using a given set of inputs full$ and in the #est possi#le wa$.   "ll the alternative com#inations of two products among which a producer is indifferent #ecause the$ $ield the same profit.   None of the given options.  /*stio No: > ( Mar+s: 1 ' 0!*as* choos* o*  Tota! costs ar* th* s/m o:  %arginal costs and varia#le costs. Fi=*2 costs a2 ariab!* costs.  &i'ed costs and marginal costs.  "verage varia#le costs and marginal costs. /*stio No: - ( Mar+s: 1 ' 0!*as* choos* o*  A irm is char4i4 a 2i*r*t 3ric* o r *ach /it 3/rchas*2 by a cos/m*r. This is ca!!*2:   &irst(degree price discrimination.  )*co2'2*4r** 3ric* 2iscrimiatio  .   Third(degree price discrimination.   None of the given options.  /*stio No: , ( Mar+s: 1 ' 0!*as* choos* o*  ?hich o th* o!!o6i4 b*st *=3r*ss*s th* !a6 o 2*ma2  " higher price reduces demand.

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