Microeconomics Practice Test

10 Questions  I  By Muhammadakram
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 Microeconomics Practice Test
This quiz is designed to check your Economics Knowledge. Answer and detailed explanation is given at the end.

  
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Questions and Answers

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1.  What Microeconomics is about?
A.
B.
C.
D.
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2.  Law of Demand states that
A.
B.
C.
D.
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3.  The Slope of Indifference Curve indicates
A.
B.
C.
D.
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4.  Production Functions Shows
A.
B.
C.
D.
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5.  Shape of Total Fixed Cost(TFC) Curve is
A.
B.
C.
D.
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6.  While in Perfect Competition
A.
B.
C.
D.
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7.  Model of Monopolistic Competition (i.e Imperfect competition) is characterized by
A.
B.
C.
D.
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8.  Monopoly is a form of market where there is
A.
B.
C.
D.
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9.  In Duopoly, there is/are
A.
B.
C.
D.
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10.  Price discrimination is a situation when a producer
A.
B.
C.
D.
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