Question : Determine the marginal opportunity cost of 10 units of commodity X:
Option 1: MOC = 10
Option 2: MOC = 20
Option 3: MOC = 14
Option 4: MOC = 2.5
Correct Answer: MOC = 2.5
Solution : MOC = Change in units sacrificed/Change in units gained = (20-10)/(14-10) = 10/4 = 2.5. Hence, the correct option is 4.
Question : India produces two commodities: X and Y. Its production possibilities are shown in the following table:
Calculate MRT for the possibility C.
Option 1: 5:1
Option 2: 4:1
Option 3: 6:1
Option 4: 2:1
Question : Directions: In the following question, select the number that can be placed at the sign of the question mark (?) from the given alternatives.
Option 1: 13
Option 2: 14
Option 3: 15
Option 4: 16
Question : Calculate value of output from the following data:
Option 1: 1020
Option 2: 980
Option 3: 950
Option 4: 1000
Question : Calculate change in stock.
Option 1: 1970
Option 2: 3456
Option 3: 5426
Option 4: 8882
Question : Calculate gross value added at factor cost.
Option 1: 600
Option 2: 645
Option 3: 535
Option 4: 385
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