Maximum profit can be shown on a diagram using ?

Related Mcqs:

1. A firm in perfectly competitive industry is producing 50 units, its profit-maximising quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is ?

   A. £35 B. £15 C. £30 D. £60...

2. A firm that makes profit in addition to normal profit is making ?

   A. Economic profit B. Accounting profit C. Normal profit D. supernormal profit...

3. A straight-line diagram can be drawn knowing the ________ and ________?

   A. vertical axis and horizontal axis B. intercept and slope C. scale and slope D. intercept and scale...

4. If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of ?

   A. a nonlinear relationship B. a positive linear relationship C. a scatter diagrams D. a negative linear relationship...

5. The diagram that shows the income received and payments made by each sector of the economy is the ?

   A. income-expenditures diagram B. aggregate demand-aggregate supply diagram C. circular flow diagram D. income-price diagram...

6. In a supply and demand diagram for Japanese yen, with the exchange rate in dollars per yen on the vertical axis, the demand schedule for yen is drawn sloping ?

   A. upward B. vertical C. downward D. horizontal...

7. Which of the following statements regarding the circular-flow diagram is true ?

   A. If Susan works for BAe Systems and receives a salary payment, the transaction takes place in the market for good and services. B. If BAe Systems sells a military aircraft, the transaction takes place in the market for factors for production C. None of these D. The factors of production are owned by households...

8. Income inequalities are often shown on a ?

   A. production possibility curve B. marginal inequality curve C. sen curve D. Lorenz curve...

9. As resources are shifted from one industry to another this can be shown by ?

   A. An inward shift of the production possibility frontier B. A movement along the production possibility frontier C. An outward shift of the production possibility frontier D. The pivoting of the production possibility frontier...

10. Economic growth can be shown by ?

    A. An inward shift of the production possibility frontier B. A movement along the production possibility frontier C. An outward shift of the production possibility frontier D. A decision by the government to produce inside the production possibility frontier...