When marginal product is zero, total product is: MCQ with Answer and Explanation

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When marginal product is zero, total product is:

A. minimum

B. maximum

C. equal to average product

D. negative

Answer: Option B

Solution (By JKSSB Mock Tests)

Total product is maximum when marginal product is zero.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Public Distribution System' in India is administered by:

A. Ministry of Finance

B. Ministry of Agriculture

C. Department of Food and Public Distribution

D. NITI Aayog

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Correct Answer: Option C

Explanation:
The public distribution system is administered by the Department of Food and Public Distribution.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is NOT a function of the World Bank?

A. Technical assistance for development

B. Poverty reduction initiatives

C. Providing long-term loans for development projects

D. Providing short-term balance of payments support

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Correct Answer: Option D

Explanation:
Short-term balance of payments support is primarily the function of the IMF. The World Bank focuses on long-term development finance and poverty reduction.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of cost curves, the Average Fixed Cost (AFC) curve is:

A. Horizontal

B. U-shaped

C. Rectangular hyperbola

D. Upward sloping

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Correct Answer: Option C

Explanation:
Average Fixed Cost falls continuously as output increases and the AFC curve is a rectangular hyperbola.

This question belongs to: Economy GK Economy Set 1

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