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Mr. Abul Kashem has set up a poultry firm with an investment of TA. 50.000 . He gets an average yearly income of TA. 36,000 from the firm. If he did not set up this poultry from such grocery he could get an yearly income of TA. 39,000 . What is the opportunity cost of the Poultry firm that Mr. Kashem is running?
A
TA. 50,000
B
TA . 37,500
C
TA. 39,000
D
TA. 11,000
Correct Answer:
TA. 39,000
Mr. Abul Kashem has set up a pultry firm with investment of TA, 50,000. He gets an average yearly income of TA. 36,000 from the firm, If he did not set up this poultry firm, with this investment he could set up a grocery shop. From such grocery he could get an yearly income of TA. 39,000. What is the opportunity cost of the Poultry firm that Mr. Kashem is running?
A
TA. 50,000
B
TA. 37,500
C
TA. 39,000
D
TA. 11,000
Marginal cost is equal to marginal revenue, average cost is equal to average revenue, average revenue is equal to marginal revenue and average cost is equal to marginal cost. This is the condition of
1. long period equilibrium for a firm under monopoly
2. short period equilibrium for a firm under oligopoly
3. long period equilibrium
4. long period equilibrium for a firm under perfect competitions
Select the correct answer
A
Both 1 and 4
B
Both 3 and 4
C
Both 3 and 1
D
Only 1
The marginal cost is equal is to marginal revenue, the average cost is equal to average revenue, average revenue is equal to marginal revenue, and the average cost is equal to marginal cost. This is the condition of
1. Long-period equilibrium for a firm under monopoly.
2. Short-period equilibrium for a firm under oligopoly.
3. Long-period equilibrium
4. Long-period equilibrium for a firm under perfect competition.
A
1 and 4
B
3 and 4
C
1 and 3
D
Only 1
The Head of a newly formed government desires to appoint five of the six elected members A,B,C,D,E and F to portfolios of Home,Power,Defence ,Telecom and Finance.F dose not want any portfolio if D gets one the five.C wants either Home or Finance or on portfolio.B says that if D gets either Power or Telecom then she must get the other one.E insists on a portfolio if A gets one. If a gets Home and C gets Finance,then which is NOT a valid assignment for Defence and Telecom?
A
B-Defence,D-Telecom
B
B-Defence,E-Telecom
C
F-Defence,B-Telecom
D
D-Defence,B-Telecom
Your firm is selling 1,000 units at a price of Rs. 10 per unit. The firm's total explicit cost is Rs. 8,000. The firm's implicit cost is Rs. 1,000 and the opportunity cost of your time in managing the firm is Rs. 1,000. In the above situation, which one of the following is true?
A
Accounting profit is 0
B
Economic profit is less than the accounting profit
C
Marginal cost is Rs. 1,000
D
Economic profit is Rs. 1,000
A sum of Rs. 53 is divided among A, B and C in such a way that A gets Rs. 7 more than what B gets and B gets Rs. 8 more than what C gets. The ratio of their share is gets. The ratio of their share is = ?
A
16 : 9 : 18
B
25 : 18 : 10
C
18 : 25 : 10
D
15 : 8 : 30
A sum of Rs. 76 is divided among A, B and C in such a way that A gets Rs. 7 more than what B gets and B gets Rs. 6 more than what C gets. The ratio of their share is gets. The ratio of their share is = ?
A
19 : 24 : 33
B
32 : 25 : 19
C
32 : 24 : 20
D
19 : 25 : 33
Rs 11,550 has to be divided between X, Y & Z such that X gets 4/5 of what Y gets and Y gets 2/3 of what Z gets. How much more does Z get over X (inRs)?
A
7200
B
1800
C
1390
D
2450
Twenty-five percent of Reena's yearly income is equal to seventy-five percent of Anubhab monthly income . If Anubhab yearly income is Rs. 240000, What is the Reena's monthly income ?
A
Rs. 60000
B
Rs. 12000
C
Rs. 5200
D
Cannot be determined
E
None of these
In perfect competition, when a firm is in short periods, for equilibrium, the following condition does apply
1. Marginal cost must equal marginal revenue.
2. Average cost must equal average revenue.
3. Marginal revenue must equal average revenue.
4. Marginal cost must equal average cost.
A
1, 2 and 3
B
1 and 3
C
2, 3 and 4
D
Only 3