Managerial Economics

11

Iso-quants are also known as

A) Equal cost curves B) Equal revenue curves C) Equal product curves D) Indifference curves

Discuss

Answer & Solution

Answer: Option C

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

12

MU curve will be below X-axis when

A) MU is zero B) MU is negative C) MU is positive D) MU is constant

Discuss

Answer & Solution

Answer: Option B

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

13

All money costs can be regarded as

A) Social costs B) Opportunity cost C) Explicit costs D) Real cost

Discuss

Answer & Solution

Answer: Option C

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

14

In a free market economy, the optimal quality of goods and services is determined by

A) customers B) workers C) firms D) government

Discuss

Answer & Solution

Answer: Option D

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

15

MC is given by

A) The slope of the TC curve but not by slope of the TVC curve B) The slope of the TVC curve but not by slope of the TC curve C) The slope of the TFC curve D) Either the slope of the TVC curve or slope of the TC curve

Discuss

Answer & Solution

Answer: Option B

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

16

Which of the following creates time utility?

A) Driver B) Carpenter C) Trader D) Farmer

Discuss

Answer & Solution

Answer: Option C

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

17

If the supply curve of a commodity is positively sloped, a rise in the price of the commodity ceteris paribus, results in and is referred to as

A) A decrease in both demand and supply B) A decrease in quantity supplied C) A decrease in supply D) A decrease in demand

Discuss

Answer & Solution

Answer: Option C

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

18

Personal income equals

A) NI - Undistributed corporate profit - Taxes - Social security contributions B) NI + Transfer payments + Undistributed profits C) NNP - Corporate taxes D) NI - Transfer payments

Discuss

Answer & Solution

Answer: Option A

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

19

When the price of one commodity in a combination of commodities falls in such a way that the consumer's real income changes but he remains on the same level of satisfaction as before, it is known as

A) Income effect B) Variation effect C) Price effect D) Compensating variation in income

Discuss

Answer & Solution

Answer: Option D

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

20

Which one of the following structural changes in the composition of National Income of India would characterise economic development?

A) A large proportion of income from agriculture relative to other sectors B) A small proportion of income from the tertiary sector compared to that from agriculture C) A larger proportion of income from industry as compared to that from agriculture D) A smaller portion of income from industry as compared to that from the tertiary sector

Discuss

Answer & Solution

Answer: Option B

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