Business Economics Quiz 4 (25 MCQs)

Quiz Instructions:

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1. Organization that pools funds of individual investors to buy a large number of different stocks or other financial assets are called

2. The value of $\sigma$ for Cobb-Douglas production function is

3. In monopoly, the relationship between average revenue and marginal revenue curves is as follows

4. Which one of the following is not a common property of an indifference curve

5. Horizontal mergers involve

6. A _____ is anywhere buyers and sellers meet to buy and sell goods and services.

7. Bulk buying for discount is which type of economy of scale?

8. Demand has the following elements

9. When demand curve is rectangular hyper-bola the elasticity of demand will be

10. Which type of business has to share profits, responsibility and liabilities?

11. What is a company called that sells stock to raise money?

12. Cobb-Douglas production function in its initial form has the following properties

13. For consumption to occur, goods and services must be

14. Which are important for their ability to move resources, products, and financial capital across national boundaries with relative ease?

15. A firm's marginal revenue

16. Which of the following is considered agood?

17. A corporation is

18. A Limited liability partnership

19. These are typically found in airports & seaports and do not follow the regular trade customs and are considered duty-free

20. Utility theory is not able to explain the reason for

21. Marginal cost is less than the average cost when average cost falls with

22. A Service refers to

23. What's it called when the average price of goods goes up sharply?

24. What represents how much a business should charge for an item?

25. How many sellers are present in duopoly?