choose the correct answer

40\ If the minimum wage is above the equilibrium level, thequantity of labor supplied exceeds the quantity of labor demanded.This creates the situation of:

A\ None of the given options

B\ Unemployment

C\ Inequality in wages

D\ Full employment

41\Al Nawa Company wants to make maximum output but not able toincrease the inputs. Which one of the following measures it mustfocus in such situation?

A\Economic efficiency

B\ Technological efficiency

C\ Market information

D\ Consumer buying plans

43\ The specific quantity which a consumer is willing to buy ata particular price is known as:

A\ Quantity demanded

B\ Price demand

C\ Demand schedule

D\ Effective demand

45\ The term microeconomics has been introduced by:

A\Adam smith

B\ Alfred Marshall

C\ Leonel Robbins

D\ Prof. Ragnar Frisch

46\The rightward shift of demand curve happens because of:

A\ Decrease in income of consumers

B\ Rise in price of complementary products

C\ No change in expectation regarding future change in price

D\ New and better advertisement for existing product

47There are many sellers of blue jeans who has small marketshare. Which one of the given market structure does thisdescribes?

A\ Oligopoly

B\ Monopolistic competition

C\ Perfect competition

D\ Monopoly

48\ Which one of the following market structure has large numberof firms that sells similar but slightly differentproducts?

A\ Perfect competition

B\ Oligopoly

C\ Monopolistic competition

D\ Monopoly

49\ Mariya has the option of purchasing one of the two products:Brand-A of RO 10 or Brand-B of RO 20. If she decides that Brand-Ameets her needs best, then the opportunity cost of her decisionis:

A\ OMR 30

B\ OMR 10

C\ None of the given options

D\ OMR 20