Managerial Economics

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Each section contains 100 MCQs on Managerial Economics .

In the long run, competitive equilibrium theory predicts that

A) There is no incentive for entry or exit of firms B) Firms operate at a minimum average total cost C) TC = TR and MC = MR D) All these conditions exist

Discuss

Answer & Solution

Answer: Option D

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

Basic Price:

A) Is the determination of the company's price level or basic price including its adoption to cyclical fluctuations B) Is the valuation of product of the firm C) Is the determination of cost of product of the firm D) Is a cost price

Discuss

Answer & Solution

Answer: Option A

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

Given:
Private income = Rs. 30,000
Tax on Corporate Profit = Rs. 5,000
Undistributed Profit of Corporate = Rs. 4,000
The personal income will be:

A) Rs. 30,000 B) Rs. 21,000 C) Rs. 35,000 D) Rs. 39,000

Discuss

Answer & Solution

Answer: Option B

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

Production function is not based on the assumption of the

A) substitutability of inputs B) complementarity of inputs C) marketability of products D) specificity of inputs

Discuss

Answer & Solution

Answer: Option C

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

Factors determining demand is/are

A) Price of the product itself B) Consumer's expectations of future C) Population D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

When the law of diminishing returns begins to operate the TVC curve begins to

A) Fall at a decreasing rate B) Rise at a decreasing rate C) Fall at an increasing rate D) Rise at an increasing rate

Discuss

Answer & Solution

Answer: Option D

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

Price control is one of the monopoly regulations which is most advantageous for

A) The government B) The consumer C) The producer D) The seller

Discuss

Answer & Solution

Answer: Option B

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

Match the following:

a. Principles of Economics	1. Gunnar Myrdal
b. Diamond water paradox	2. J. K. Galbraith
c. Value and Capital	3. Alfred Marshall
d. Asian Drama	4. J. R. Hicks
e. Language of Economics	5. Adam Smith

A) a-5, b-2, c-3, d-1, e-4 B) a-2, b-4, c-3, d-5, e-1 C) a-1, b-2, c-3, d-5, e-4 D) a-3, b-5, c-4, d-1, e-2

Discuss

Answer & Solution

Answer: Option D

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

A straight line, downward-sloping demand curve implies that, as price falls, the elasticity of demand

A) Remains the same B) Decreases C) Increases D) is zero

Discuss

Answer & Solution

Answer: Option B

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

100

A stable equilibrium position is one in which

A) There are only two forces influencing equilibrium B) There are never any departures from the equilibrium position C) Any departure from the equilibrium position calls into play forces which tend to restore that position D) There are endless oscillation

Discuss

Answer & Solution

Answer: Option C

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

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