Top 50+ Solved Mathematical Tools for Economics 2 MCQ Questions Answer
Q. Functional relationship between input and output is called
a. isoquants
b. isocost
c. input function
d. production function
Q. In CES production function, the elasticity of substitution is
a. unity
b. zero
c. negative
d. constant
Q. The highest power to which the derivative of highest order is raised in differentialequation is called.
a. trace
b. order
c. degree
d. transpose
Q. Second stage in return to scale is called
a. increasing returns
b. diminishing returns
c. constant returns
d. negative returns
Q. The points at which a curve is neither increasing not decreasing is called
a. turning point
b. stationery points
c. both a and b
d. none of these
Q. The ratio of capital to labour is called
a. average product of labour
b. average product of capital
c. factor intensity
d. none of these
Q. For profit maxmisation we must have
a. mr = mc
b. mc curve cut mr curve from below
c. both a and b
d. none of these
Q. For a function y = f(x1,x2), the total differential is given by
a. dy = f1dx1 + f2dx2
b. dy = f1dx2 + f2dx1
c. both a and b
d. none of these