Managerial Economics

A. both marginal and average cost curves rise

B. the industry, short run supply curves shift upwards to the right

C. output of all firms increase

D. price of the products rise

A. Variable costs were to fall below fixed costs

B. Total revenue were less than total variable cost

C. Total revenue were more than total variable cost

D. Variable costs were to rise above fixed costs

A. Average cost

B. Marginal revenue

C. Marginal cost

D. Variable cost

A. economoes of scope

B. diseconomies of scale

C. diseconomies of scope

D. economiles of scale

A. demand chart

B. demand schedule

C. demand table

D. price table

A. Good complements

B. Close substitutes

C. Completely unrelated

D. None of these

A. the monopolist always makes profit

B. there is no entry for others

C. equilibrium involves MC = MR and MC < P

D. the monopolist controls the supply

A. Positive

B. Negative

C. Unitary

D. Infinite

A. $${e_a} = \frac{{{Q_1} - {Q_2}}}{{{Q_1} + {Q_2}}} + \frac{{{P_1} - {P_2}}}{{{P_1} + {P_2}}}$$

B. $${e_a} = \frac{{{Q_1} + {Q_2}}}{{{Q_1} - {Q_2}}} + \frac{{{P_1} + {P_2}}}{{{P_1} - {P_2}}}$$

C. $${e_a} = \frac{{{Q_1} - {Q_2}}}{{{P_1} - {P_2}}} + \frac{{{Q_1} - {Q_2}}}{{{P_1} + {P_2}}}$$

D. None of these

A. When total output grows swiftly

B. When total output turns down

C. In no circumstances

D. When total output ceases to grow swiftly