ECO402 FINAL TERM IMP MCQS 2023

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ECO402 Final term important mcqs 2023

1 / 20

Our economy is characterized by:

2 / 20

If Px = Py, then when the consumer maximizes utility:

3 / 20

The concept of a risk premium applies to a person that is:

4 / 20

The price elasticity of demand for a demand curve that has a zero slope is:

5 / 20

The function which shows combinations of inputs that yield the same output is called a(n):

6 / 20

Which of the following is true regarding income along a price consumption curve?

7 / 20

The law of diminishing returns applies to:

8 / 20

A production function assumes a given:

9 / 20

The total cost (TC) of producing computer software diskettes (Q) is given as:
TC = 200 + 5Q. What is the variable cost?

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10 / 20

The law of diminishing returns refers to diminishing:

11 / 20

When a product transformation curve is bowed outward, there are
_______________ in production.

12 / 20

Which of the following is NOT a generally accepted measure of the riskiness
of an investment?

13 / 20

Economies of scope refer to:

14 / 20

When the average product is decreasing, marginal product:

15 / 20

Fixed costs are fixed with respect to changes in:

16 / 20

Cost-output elasticity can be written and calculated as:

17 / 20

The difference between the economic and accounting costs of a firm are:

18 / 20

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Assume that beer is an inferior good. If the price of beer falls, then the substitution effect results in the person buying ______ of the good and the income effect results in the person buying ______ of the good.

19 / 20

A production function assumes a given:

20 / 20

Incremental cost is the same concept as ______________ cost.

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Virtual university ECO402  Final term exams 2023 preparation

How to Prepare.

Preparing for the Virtual University final term exams in 2023 requires diligent and strategic preparation, with a particular emphasis on ECO402 final term MCQs. To excel in these exams, students should allocate sufficient time to practice and familiarize themselves with a broad range of multiple-choice questions. By dedicating ample time to  ECO402 MCQs, students can enhance their understanding of the subject and increase their chances of achieving favorable results in the final exam. Utilizing various resources, such as previous years’ question papers, online forums, and virtual study groups, can provide valuable insights and help students identify common patterns or topics frequently tested in ECO402 MCQs. Additionally, engaging in regular self-assessment and mock tests centered around ECO402 MCQs can effectively measure one’s progress and pinpoint areas that require further attention, leading to a comprehensive exam preparation strategy.

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Vu final term preparation 2023.

In summary, the key to preparing for the Virtual University final term exams in 2023 lies in a focused and thorough approach to  ECO402 final term MCQs. By prioritizing this aspect of the exam, students can strengthen their grasp on the subject matter and significantly enhance their chances of success. Consistent practice, utilization of available resources, and regular self-assessment are essential elements that contribute to a well-rounded and effective exam preparation strategy. By following these guidelines, students can approach their final term exams with confidence and maximize their performance in ECO402 MCQs.

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