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Economics Past Questions and Answers

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Economics Questions

Question 3281:

When total utility is constant, it means marginal utility is

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A Increasing
B Zero
C Decreasing
D One

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Question 3282:

A rational consumer is one who

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A Spends his income to maximize satisfaction
B Is not influenced by advertisemment
C Behaves in a particular way all the time
D Knows the price of all goods and buys the cheapest

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Question 3283:

which of the following is not true about land?

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A The supply is fixed
B Land is mobile
C It is subject to diminishing returns
D Land is heterogeneous

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Question 3284:

The type of production that involve the tapping and harnessing of natural resources is

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A Primary production
B Secondary production
C Tertiary production
D Industrial production

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Question 3285:

which of the following does not change in the short run?

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A Variable cost
B Marginal cost
C Total cost
D Fixed cost

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