MCQ
Whenever $MP$ falls and is positive, $TP$ changes at what rate?
- A$TP$ rises at increasing rate.
- ✓$TP$ rises at diminishing rate.
- C$TP$ decreases after reaching its maximum.
- DNone of the above.
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.
| Commodity | Base year | Current year | ||
| Price | Quantity | Price | Quantity | |
| A | 4 | 2 | 6 | 3 |
| B | 3 | 5 | 2 | 1 |
| C | 8 | 2 | 4 | 6 |
| Column I | Column II |
| A. Total cost | (i) Change in total cost when an additional unit of output is produced |
| B. Marginal cost | (ii) Vertical summation of AFC and AVC curves |
| C. Fixed cost | (iii) Explicit cost + Implicit cost |
| D. Short period AC curve | (iv) Does not change with increase or decrease in output |
| Column I | Column II |
| A. Consumer's equilibrium | (i) $\frac{\Delta Y}{\Delta X}$ |
| B. Slope of IC | (ii) Budget line rotates to the right starting from the Y-axis |
| C. $P_X$ falls | (iii) Consumer should move downward to the right along the IC |
| D. $MRS _{X Y}>\frac{P_X}{P_y}$ | (iv) Optimum choice of the consumer |