calculate and and record your answer please

(a) 0.8 (b) 1 (c) 1.5 (d) -1.22 44. The government wants to reduce the consumption of electricity by 5%. The price elasticity of demand for electricity is 00.4. The government should: (a) raise the price of electricity by 2% (b) lower the price of electricity by 0.4% (c) raise the price of electricity by 12.5% (d) raise the price of electricity by 0.8% 45. Total utility will be a maximum when_ (a) marginal utility equals total utility (b) marginal utility is zero (c) marginal utility equals average utility (d) marginal utility is positive 46. For complementary goods the cross elasticity of demand will be (a) negative (b) zero (c) positive (d) any of these 47. Necessities have _ elasticity of demand of between 0 and +1. (a)cross (b) price (c) income (d) any of these 48. If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely (a) increase (b) not change (c) decrease (d) shift 49. Which of the following situations would be most favourable for a company with an income elasticity of demand for its product of +3 to plan for an increase in output: (a) Money incomes to rise by 5 per cent and prices by 6 per cent(b) Money incomes to rise by 6 per cent and prices by 5 per cent (c) Money incomes to rise by 3 per cent and prices by 4 per cent (d) Money incomes to rise by 4 per cent and prices by 2 per cent 50. Football socks are found to have a cross-elasticity of demand of -2 with respect to product Y. Which of the following products is most likely to be product Y: (a)Cricket boots (b) Tennis shoes (c)Tennis socks (d) Football boots 51. The process of finding relative maximum or minimum of a function is known as : (a) optimization (b) minimisation (c) maximisation (d) any of these 52. A_ _ is a point at which a function is at a relative maximum or minimum: (a) plateau (b) relative extremum (c) inflection (d) critical value 53. The value of Lagrange multiplier A gives the approximate change in the objective function caused by a small change in the: (a) constant of the constraint (b) objective function (c) variables in the constraint (d) any of these28. For the demand function Q = f(p), elasticity of demand is given by: dq dp dp P dq p (a) dp (b) da (dq q (d) dp q AR 29. AR-Mp gives the : (a) Elasticity of demand (b) elasticity of cost (c) iso revenue live (d) elasticity of supply 30. When the total revenue functions is R = 100-X- , the marginal revenue is : (a) 100 -2X (b) 100 (c) -2X (d) -X2 31. The cost per output is given by C = 2x + 27. Then the marginal cost when x = 5 is: (a) 2 (b) 27 (c) 0 (d) 47 32. Given the utility functions u = f(q1, q2). The functions will be maximized at; (a) du (b ) d'u (c) Both a and b (d) None of the above dq, dq, 33. When elasticity of demand is 2, the demand will be: (a) Perfectly elastic (b) Perfectly inelastic (c) Relatively elastic (d) Unit elastic 34. The Price elasticity of demand for a product is 1.5 and its MR = 8, find its price: (a) 12 (b) 24 (c) 53 (d) 16 35. The elasticity of demand for the demand curve of a firm under perfect competition is (a) 1 (b)0 (c) -1 (d) a 36. Given a total utility function, Marginal utility is obtained by finding (a) First derivative (b) Second derivative (c) Integral (d) Coefficient 37. Mathematically is the first derivative of the consumption function. (a) MPS (b) MPC (c) MPI (d) GDP 38. indicates what proportion of the increased income will be saved. (a) MPS (b) MPC (c) MPI (d) GDP 39 measures the change in TP due to a one unit change in the quantity of labour used: (a) MPC (b) MPS (c) MPI (d) MPPL 40. refers to the change in total cost (TC) due to the production of an additional unit of output. (a) MPC (b) MC (c) MPI (d) MPPL MPL = 41- MP (a) MPC (b) MC (c) MRTS LK (d) MPPL14. models are mathematical models designed to be used with data. (a) Empirical (b) Visual (c) Mathematical (d)Simulation 15 function expresses the relationship between price of the good and quantity of the good demanded. (a) Supply (b) Consumption (c) Demand (d)Income 16. function expresses the relationship between price of the good and quantity of the good supplied (a) Supply (b) Consumption (c) Demand (d)Income 17. Function which map the relation between the physical measure of money and the perceived value of money is (a) Income (b) Investment (c) Demand (d)Utility 18. function was designed by J M Keynes to show the relationship between real disposable income and consumer spending. (a) Consumption (b) Investment (c) Demand (d)Utility 19. Given the consumption function C = a + bY, where "a', the intercept, represents (a) Income (b) autonomous consumption (c) Demand (d)Saving 20. Given the consumption function C = a + bY, the slope 'b' represents: (a) MPS (b) autonomous consumption (c) MPC (d)Saving 21. Given the total cost function TC = 1.50" + 4Q + 46, marginal cost is: (a) 30 +4 (b) 1.5Q" + 4Q (c) 1.5Q + 4 +46/Q(d)1.5Q~ +46 22. When total cost in a production is given by C = 4x + 500 then fixed cost is (a) 0 (b) 500 (c) 504 (d) 4 23. For equilibrium market, the condition is (a) Demand > supply (b) demand