Download App

The theory of the firm under perfect competition — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsThe theory of the firm under perfect competition1 Mark
Question
The functional relationship between supply of a commodity and its various determinants is known as:
  1. Supply function.
  2. Change in supply.
  3. Change in quantity supplied.
  4. None of the above.
✓

Answer

  1. Supply function.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "M.C.Q (1 Marks)" from The theory of the firm under perfect competition→The theory of the firm under perfect competition — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

In monopolistic competition the goods are.
  1. Durable.
  2. Differentiated.
  3. Heterogeneous.
  4. Homogeneous.
→
According to law of demand, other things being constant:
  1. There exists negative relationship between quantity demanded and price of a commodity.
  2. With increase in price, there is rightward shift in demand curve.
  3. There exists positive relationship between quantity demanded and price of a commodity.
  4. With increase in price, there is leftward shift in demand curve.
→
If in an economy investment is greater than saving, national income of the economy,
  1. Increases.
  2. Decreases.
  3. Remains constant.
  4. None of them.
→
What is the relationship between MPS and Multiplier?
  1. Positive.
  2. Negative.
  3. Constant.
  4. None of them.
→
There is a range when AC is falling and __________.
  1. MC is rising.
  2. TC is rising.
  3. AVC is constant.
  4. None of the above.
→
In case of diminishing returns:
  1. Total product increases at diminishing rate.
  2. Total product increases at increasing rate.
  3. Marginal product diminishes.
  4. Both(a) and (c).
→
Under what condition, equilibrium price will increase and equilibrium quantity will decrease?
  1. Increase in supply.
  2. Decrease in supply.
  3. Increase in demand.
  4. Decrease in demand.
→
Which of the following pairs represents substitute goods?
  1. Car and petrol.
  2. Coffee and tea.
  3. Bread and butter.
  4. All of the above.
→
The usual shape of Production Possibility Curve is ______ towards the origin.
  1. Convex.
  2. Concave.
  3. Straight line.
  4. Rectangular.
→
When the total fixed cost of producing 100 units is ₹ 30 and the average variable cost ₹ 3, total cost is:
  1. ₹ 3.
  2. ₹ 30.
  3. ₹ 270.
  4. ₹ 330.
→