Question : A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains INR 1,064 in the transaction, the cost price (in INR) of the article is:

Option 1: 8400

Option 2: 7000

Option 3: 6300

Option 4: 7200

Question : If a firm is operating at a loss in the short period in perfect combination, it should:

Option 1: decrease the production and price

Option 2: increase the production and price

Option 3: continue to operate as long as it covers even the variable costs

Option 4: shut down and leave the industry

Question : A rising per capita income will indicate better welfare if it is accompanied by:

Option 1: unchanged income distribution overall

Option 2: changed income distribution in favour of the rich

Option 3: changed income distribution in favour of the poor

Option 4: changed income distribution in favour of industrial labour

Question : Which total cost is highlighted in the given statement?
Statement: It does not vary directly with level of output like rent or insurance.
 

Option 1: Fixed cost

Option 2: Variable cost

Option 3: Semi variable cost

Option 4: None of the above

Question : Which total cost is highlighted in the given statement?
Statement: It varies directly with output like payment for raw material, wages and power.

Option 1: Fixed cost

Option 2: Variable cost

Option 3: Semi variable cost

Option 4: None of the above