UGC NET/PGT/CUCET .....Practice Question
1. Cardinal measure of utility is requiredin (A) Utility Theory (B) Indifference Curve Analysis (C) Revealed Preference (D) Inferior Goods Answer: (A) 2. A Right-ward shift in Demand Curve indicates (A) A decrease in supply (B) An increase in quantity supplied (C) An increase in supply over the previous year (D) Law of Variable Proportions Answer: (C) 3. Which of the following is the condition for equilibrium for Monopolist? (A) MR = MC (B) MC = AR (C) MR = MC = Price (D) AC = AR Answer: (A) 4. Giffen goods are those goods (A) For which demand increases as price decreases (B) Which is in short supply? (C) Which have high elasticity of demand? (D) Which gives rise to a Cob-Web situation? Answer: (A) 5. Match List-I with List-II and select the correct answer using the codes given below the lists. List – I (Demand Estimation Method) (Steps involved) (a) Customer Interview Method (b) Market Experiment Method (c) Regre