31. Duopoly is a market situation where there is/are____________?
A. Few sellers and few buyers
B. Few sellers and many buyers
C. Many sellers and few buyers
D. One seller and few buyers
✅ The correct answer is option B.
Engineering Economy MCQs
32. A firm borrows P2,000 for 6 years at 8%. At the end of 6 years, it renews the loan for the amount due plus P2,000 more for 2 years at 8%. What is the lump sum due ?
A. P 3,260.34
B. P 3,280.34
C. P 3,270.34
D. P 3,250.34
✅ The correct answer is option A.
33. A loan for P50,000 is to be paid in 3 years at the amount of P65,000. What is the effective rate of money ?
A. 9.01 %
B. 9.14 %
C. 9.31 %
D. 9.41 %
✅ The correct answer is option B.
34. Mr. Jun Ramos was granted a loan of P20,000 by his employer Excel First Review and Training Center, Inc. with an interest of 6% for 180 days on the principal collected in advance. The corporation would accept a promissory note for P20,000 non-interest for 180 days. If discounted at once, find the proceeds of the note?
A. P18,000
B. P18,900
C. P19,000
D. P19,100
✅ The correct answer is option A.
35. A man invested P110,000 for 31 days. The net interest after deducting 20% withholding tax is P890.36. Find the rate of return annually?
A. 11.50 %
B. 11.75 %
C. 11.95 %
D. 12.32 %
✅ The correct answer is option B.
36. A form of business organization in which a person conducts his business alone and entirely for his own profit, being solely responsible for all its activities and liabilities ?
A. Sole proprietorship
B. Entrepreneurship
C. Partnership
D. Corporation
✅ The correct answer is option A.
37. Perfect monopoly exists only if_______________?
A. the single vendor can prevent the entry of all other vendors in the market
B. the single vendor gets the absolute franchise of the product
C. the single vendor is the only one who has the permit to sell
D. the single vendor is the only one who has the knowledge of the product
✅ The correct answer is option A.
38. A farmer selling eggs at 50 pesos a dozen gains 20%. If he sells the eggs at the same price after the costs of the eggs rises by 12.5%, how much will be his new gain in percent ?
A. 6.89 %
B. 6.65 %
C. 6.58 %
D. 6.12 %
✅ The correct answer is option B.
39. What is another term for “perfect competition” ?
A. Atomistic competition
B. No-limit competition
C. Free-for-all competition
D. Heterogeneous market
✅ The correct answer is option A.
40. A student plans to deposit P1,500 in the bank now and another P3,000 for the next 2 years. If he plans to withdraw P5,000 three years from after his last deposit for the purpose of buying shoes, what will be the amount of money left in the bank after one year of his withdrawal? Effective annual interest rate is 10% ?
A. P1,549.64
B. P1,459.64
C. P1,345.98
D. P1,945.64
✅ The correct answer is option A.