MH SET 2023 Paper 2 Economics Question Paper (26-Mar-2023)

Question 1

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

Accepted Answer

They are substitute goods

Answer

They are complementary goods

Answer

They are inferior goods

Answer

They are giffen goods

Question 2

In the third stage of production, the total product is :

Accepted Answer

Falling but positive

Answer

Rising

Answer

Constant

Answer

Maximum

Question 3

According to Kenneth Arrow people do not prefer :

Accepted Answer

Flood insurance

Answer

Flight insurance

Answer

Property insurance

Answer

Life insurance

Question 4

The basic objective of applying the game theory is :

Accepted Answer

To arrive at the dominant strategy

Answer

To maximise profits

Answer

To maximise sale

Answer

To minimize marginal cost

Question 5

Other things remaining constant, if a competitor of commodity X carries out a successful advertisement campaign, the demand curve for X shall ................... .

Accepted Answer

Shift to the left

Answer

Shift to the right

Answer

Become positively sloping

Answer

Become parallel to Y axis

MH SET 2023 Paper 2 Economics Question Paper (26-Mar-2023)

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