Chapter 12: Mathematical Methods for EconomicsMarch 10, 2024 Maven Leave a Comment Welcome to the Chapter 12: Mathematical Methods for Economics Quiz! This quiz is based on the book back questions. Name Email 1. Mathematical Economics is the integration of a. Mathematics and Economics b. Economics and Statistics c. Economics and Equations d. Graphs and Economics None 2. The construction of demand line or supply line is the result of using a. Matrices b. Calculus c. Algebra d. Analytical Geometry None 3. Suppose D = 150 - 50P. Then, the slope is a. -5 b. 50 c. 5 d. -50 None 4. (y - y1) = m(x - x1) gives the a. Slope b. Straight line c. Constant d. Curve None 5. Suppose determinant of a matrix is 0, then the solution a. Exists b. Does not exist c. is infinity d. is zero None 6. The first person used the mathematics in Economics is a. Sir William Petty b. Giovanni Ceva c. Adam Smith d. Irving Fisher None 7. Suppose D = 50 - 5P. When D is zero then a. P is 10 b. P is 20 c. P is 5 d. P is -10 None 8. Function with single independent variable is known as a. Multivariate Function b. Bivariate Function c Univariate Function d. Polynomial Function None 9. An incremental change in dependent variable with respect to change in independent variable is known as a. Slope b. Intercept c. Variant d. Constant None 10. A statement of equality between two quantities is called a. Inequality b. Equality c. Equations d. Functions None 11. State of rest is a point termed as a. Equilibrium b. Non-Equilibrium c. Minimum Point d. Maximum Point None 12. The command Ctrl + M is applied for a. Saving b. Copying c. getting new slide d. deleting a slide None 13. Integration is the reverse process of a. Difference b. Mixing c. Amalgamation d. Differentiation None 14. If x+y = 5 and x-y= 3 then, Value of x a. 4 b. 3 c. 16 d. 8 None 15. Fixed Cost is the -----------term in cost function represented in mathematical form. a. Middle b. Price c. Quantity d. Constant None 16. The elasticity of demand is the ratio of a. Marginal demand function and Revenue function b. Marginal demand function to Average demand function c. Fixed and variable revenues d. Marginal Demand function and Total demand function None 17. Differentiation of constant term gives a. one b. zero c. infinity d. non-infinity None 18. Data processing is done by a. PC alone b. Calculator alone c. Both PC and Calculator d. Pen drive None 19. Differentiation of $x^{n}$ = is a. n$x^{n-1}$ b. n$x^{n+1}$ c. zero d. one None 20. The first differentiation of Total Revenue function gives a. Average Revenue b. Profit c. Marginal Revenue d. Zero None Time's upRelated Posts:Chapter 12: Introduction to Statistical Methods and…Chapter 10 : Recruitment MethodsChapter 5: Numerical MethodsChapter 1: Introduction to Micro Economics
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