Managerial Economics

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Each section contains 100 MCQs on Managerial Economics .

Cardinal utility measurement is required in

A) indifference curve analysis B) utility theory C) revealed preference theory D) consumption analysis

Discuss

Answer & Solution

Answer: Option B

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

Assume that a firm's total revenue curve takes the form of a straight line which passes through the origin. We may deduce that

A) Total costs and total revenue are equal B) Price and marginal revenue are equal C) Price exceeds marginal revenue D) Elasticity of demand for the product is unity

Discuss

Answer & Solution

Answer: Option B

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

When price elasticity of demand is unity, the total expenditure

A) increases with rise in price B) decreases with fall in price C) increases with fallin price D) has no affect of price change

Discuss

Answer & Solution

Answer: Option D

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

Which one of the following assumptions is not related to consumer behaviour based on the cardinal utility approach?

A) Rationality B) Diminishing marginal utility of money C) Utility cardinally measurable D) Maximisation of satisfaction with limited money income

Discuss

Answer & Solution

Answer: Option B

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

The real aim of production is

A) To eliminate poverty B) The create material goods C) To satisfy people's wants D) To provide basic necessities

Discuss

Answer & Solution

Answer: Option C

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

If MC is above AC at a time when output is rising, then

A) ATC is falling B) AVC is rising C) AVC is falling D) ATR is rising

Discuss

Answer & Solution

Answer: Option B

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

Monopoly exploitation is reduced by regula tion that

A) restricts output B) enhances product-market competition C) increases the bargaining power of workers D) increases the bargaining power of employers

Discuss

Answer & Solution

Answer: Option B

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

If the total cost curve is plotted, marginal cost can be illustrated by

A) A straight line from the origin to the mid point of the curve B) The slope of a tangent to the curve at any given output C) AU-Shaped curve cutting the total cost curve at its lowest point D) A straight line cutting the curve at its lowest point

Discuss

Answer & Solution

Answer: Option B

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

Income-Elasticity of demand will be zero when a given change in income brings about

A) The same proportionate change in demand B) A more than proportionate change in quantity demanded C) A less than proportionate change in quantity demanded D) No change in demand

Discuss

Answer & Solution

Answer: Option D

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

The imposition of a per unit tax causes the monopolist's

A) Average cost and marginal cost curves to shift up, because the per unit tax is like a fixed cost B) Average cost curve to shift up C) Average cost and marginal curves to shift up because the per unit tax is like a variable cost D) All of the above

Discuss

Answer & Solution

Answer: Option C

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

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