Indian Economics MCQ (GK Set-1) with Answers

Indian Economics MCQ (GK Set-1) with Answers

226) Other things remaining the same to increase the employment as per Marginal Productivity Theory of Distribution we should

Answer is:

Increase the marginal productivity of labourers

227) Monopolistic competition in comparison to perfect competition ensures

Answer is:

Higher price and lower output

228) For a monopolist, price is 16 and marginal revenue is 4, the elasticity of demand will be

Answer is:

4%3

229) If the total expenditure on a commodity increases after a price increase, the elasticity of demand is

Answer is:

Less than one

230) In the Cobb-Douglas production function the elasticity of substitution between factors is

Answer is:

Equal to one

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