Managerial Economics

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Each section contains 100 MCQs on Managerial Economics .

A decrease in supply will have the greatest effect on price, when the product's demand is

A) elastic B) inelastic C) perfectly elastic D) unitary elastic

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

When the market supply curve for a commodity is negatively sloped, we have a case of

A) The stable equilibrium B) Partial equilibrium C) The general equilibrium D) None of the above, unless additional information is given

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

The normal long run average cost curve is influenced by the

A) Principle of diminishing returns B) Economies and diseconomies of large scale production C) Principle of constant returns to scale D) All of the above

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

The capital turnover is computed by

A) $$\frac{{{\text{Invested Capital}}}}{{{\text{Standard Cost}}}}$$ B) $$\frac{{{\text{Capital}}}}{{{\text{Cash}}}} \times 100$$ C) $$\frac{{{\text{Invested Capital}}}}{{{\text{Cash}}}} \times 100$$ D) $$\frac{{{\text{Standard Cost}}}}{{100}}$$

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Generally the profits are maximised in the short run at the point at which

A) Marginal cost of production is equal to the marginal return B) Marginal return is zero C) Marginal return is negative D) Marginal cost is zero

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

The concept of supply curve as used in economic theory is relevant only for the case of

A) Oligopoly competition B) Perfect or pure competition C) Monopolistic competition D) Monopoly

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

If, by increasing the quantity of labour used by one unit, the firm can give up 2 units of capital and still produce the same output, then the MRTS_LK is:

A) 4 B) 2 C) 1 D) ¹/₂

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

NNP at market price equals

A) GNP at factor cost B) GNP at market price - Depreciation C) GNP + Capital assets D) None of the above

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Conditions of firm's equilibrium under perfect competition in short run is/are

A) MC = MR B) slope of MC > slope of MR C) MR = Price D) All of the above

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

100

The vertical demand curve for a commodity shows that its demand is

A) Fairly elastic B) Perfectly elastic C) Highly elastic D) Moderately elastic

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

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