MH SET 2019 Paper 2 Economics Question Paper (23-Jun-2019)

Question 1

Consider the pair of goods X and Y. It is observed that when price of Y falls the demand for X rises. Which one of the following options would you choose regarding the nature of these goods ?

Accepted Answer

They are complementary goods

Answer

They are substitute goods

Answer

They are giffen goods

Answer

They are inferior goods

Question 2

Read the following statements and find out if they are correct or incorrect :(i) When average total cost in the short run is at its minimum, the corresponding marginal cost is also minimum.(ii) The average fixed cost during the short run is U shaped curve.

Accepted Answer

Both are incorrect

Answer

Both are correct

Answer

(i) is correct, (ii) is incorrect

Answer

(i) is incorrect, (ii) is correct

Question 3

Uncertainty influences the estimation of costs, revenues and hence the ...............

Accepted Answer

decisions of the firm

Answer

profits of the firm

Answer

investments of the firm

Answer

insurance policy of the firm

Question 4

A ........... game is one in which it is not possible to commit to strategies.

Accepted Answer

Non-co-operative

Answer

Co-operative

Answer

Zero sum

Answer

Competitive

Question 5

Under Cournot duopoly model, the equilibrium price is ................

Accepted Answer

more than competitive price and less than monopoly price

Answer

indeterminate

Answer

equal to competitive price

Answer

equal to monopoly price

MH SET 2019 Paper 2 Economics Question Paper (23-Jun-2019)

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