Kerala PSC Previous Years Question Paper & Answer
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Below are the scanned copy of Kerala Public Service Commission (KPSC) Question Paper with answer keys of Exam Name 'Higher Secondary School Teacher (Junior) in Economics' And exam conducted in the year 2022. And Question paper code was '056/2022/OL'. Medium of question paper was in Malayalam or English . Booklet Alphacode was ''. Answer keys are given at the bottom, but we suggest you to try answering the questions yourself and compare the key along wih to check your performance. Because we would like you to do and practice by yourself.
C-Cardinalist criterion
DGNP criterion
Correct Answer:- Option ®
Question7:-Social welfare is maximised at, the point of tangency of the ‘envelop' utility possibility frontier with highest possible social idference contour. This point is called
‘Ac Point of bliss
B:-Point of inflexion
C-Consumer's equilibrium
D-Producer's equilibrium
Correct Answer:- Option-é
Question8:-Stackleberg's duopoly model assumed that
‘A:Sophisticated duopolist do not incorporate the reaction curve of his rival in his own profict function
B:-The sophisticated duopolist do not determine the reaction curve of his rival
C-One duopolist is sufficiently sophisticated to recognise that his competitor acts on the Coumot assumption
D:-None of the above
Correct Answer: Option-C
Question9:-Which of the following statement is/are correct in case of
(i) Returns to scale is only one part of economies of scale
(ii) Returns to scale are technical
(ii) The term retums to scale plus monetary economies included in economies of scale
AOnly (i) & (i)
Be-Only (i) & (ii)
C-Only (i) & (ii)
DeAll of the above (i), (i) & (i)
Correct Answer: Option-D
Question10:-Prisoner's dilemma occurs in most cases of variable sum games of the maximin - minimax behaviour leads to
‘Ac Rivals to optimal solutions
B:-Situations better than they need be
C-The rival to suboptimal solution
D-None of the above
Correct Answer: Option-C
Question11::Which of the following statements are true in case of Sylos-Labini model of
Limit Pricing?
(i) Market demand is given and has unitary elasticity
(ii) Product is homogeneous
(ili) Price is set by the price leader who is the largest firm with lowest cost
AOnly (i) & (i)
Be-Only (i) & (il)
C-Only (ii) & (ii)
D-All of the above (i), (i) & (il)
Correct Answer:- Option-D
Question12:-Among all the minima, firm chooses the maximum is called
‘Ac Minimax strategy
B:-Mixed strategy
(260 50೯7 game
D:-Maximin strategy
Correct Answer:- Option-D
Question13:-The slope of the transformation curve
‘Ac Marginal rate of substitutions
B:-Ratio of marginal revenues
യിനി rate of product transformation
D-None of the above
Correct Answer:- Option-C
Question14:-The goal of the firm in Marris model is