Q:

For each perfectly competitive firm in the long run

A) price = marginal costs = average variable costs	B) price = average profit
C) price = marginal costs = minimum average total costs	D) price = minimum average variable costs

Answer & Explanation Answer: C) price = marginal costs = minimum average total costs

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Filed Under: Indian Economy
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Q:

In perfect competition _____.

A) Products can be similar or different	B) Producer can control price by controlling production
C) Demand curve is perfectly elastic	D) All firms make economic profit in the long run

Answer & Explanation Answer: C) Demand curve is perfectly elastic

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Q:

Increase in the demand for a good will cause the equilibrium price of the good to ________ and the equilibrium quantity to _________.

A) increase; increase	B) decrease; decrease
C) increase; decrease	D) decrease; increase

Answer & Explanation Answer: A) increase; increase

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Q:

In the following gases, which is not a colorless or odourless gas?

A) Nitrogen	B) Chlorine
C) Hydrogen	D) Oxygen

Answer & Explanation Answer: B) Chlorine

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Filed Under: Chemistry
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Q:

In October 2017, who launched India’s 3rd biggest ‘Initial Public Offering (IPO)’ of Rs 11,370 crore?

A) Reliance Industries Ltd	B) GIC Re
C) Coal India Ltd	D) Infosys

Answer & Explanation Answer: B) GIC Re

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Filed Under: General Awareness
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Q:

Which of the following is Study of fossils ?

A) Ethology	B) Etiology
C) Anthropology	D) Palaeontology

Answer & Explanation Answer: D) Palaeontology

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Filed Under: General Science
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Q:

Which one of the following statements is correct?For the purpose of Census 2011

A) a person aged seven and above who can both read and write with understanding in any language is treated as a literate	B) a person aged eightand abovewho can both read and write with understanding in any language is treated as a literate
C) a person aged nine and above who can both read and write with understanding in any language is treated as a literate	D) a person aged ten and above who can bothread and write with understanding in any language is treated as a literate.

Answer & Explanation Answer: A) a person aged seven and above who can both read and write with understanding in any language is treated as a literate

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Q:

As per the Annual Status of Education Report (ASER) 2020, what percentage of surveyed children had access to live online classes?

A) 11	B) 16
C) 27	D) 34

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