A monopolist maximizes profit at the level of output where: MCQ with Answer and Explanation

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A monopolist maximizes profit at the level of output where:

A. AR = AC

B. MC = AR

C. AC is minimum

D. MR = MC

Answer: Option D

Solution (By JKSSB Mock Tests)

A monopolist maximizes profit by producing where marginal revenue equals marginal cost.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on foreign exchange conversion services is:

A. 5%

B. 18% on the service fee

C. 0%

D. 12%

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Correct Answer: Option B

Explanation:
Foreign exchange conversion services attract GST on the service fee at 18%.

This question belongs to: Economy GK Economy Set 1

Question #2

The Balance of Payments is a systematic record of:

A. only government borrowing

B. only visible trade

C. all economic transactions between residents of a country and the rest of the world

D. only foreign direct investment

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Correct Answer: Option C

Explanation:
The Balance of Payments records all economic transactions between residents and the rest of the world.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' rate on railway passenger transport is:

A. 5%

B. 18%

C. 0%

D. 12%

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Correct Answer: Option C

Explanation:
Railway passenger transport is exempt from GST.

This question belongs to: Economy GK Economy Set 1

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