Managerial Economics

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Each section contains 100 MCQs on Managerial Economics .

Average fixed cost can be obtained through

A) $${\text{AFC}} = \frac{{{\text{TFC}}}}{{\text{Q}}}$$ B) AFC = TC + TVC C) $${\text{AFC}} = \frac{{{\text{TFC}}}}{{{\text{MC}}}}$$ D) AFC = MC + TVC

Discuss

Answer & Solution

Answer: Option A

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

In general, if the average revenue curve is a straight line, the marginal revenue curve will be

A) U-shaped B) A straight line C) C-shaped D) Bell-shaped

Discuss

Answer & Solution

Answer: Option B

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

Match the following.

List-I	List-II
a. Monopoly	1. Single buyer, Single seller
b. Oligopoly	2. Single seller, Many buyers
c. Monopsony	3. Single buyer, Many sellers
d. Duopoly	4. Few sellers, Many buyers
e. Bilateral monopoly	5. Two sellers, Many buyers

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

Discuss

Answer & Solution

Answer: Option C

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

If the demand curve confronting an individual firm is perfectlyelastic, than

A) the firm is a price taker B) the firm cannot influence the price C) the amount, the firm supplies to the market is small relative to total supply D) all of the above

Discuss

Answer & Solution

Answer: Option D

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

The national income of a country for a given period is equal to the

A) total value of goods and services produced by the nationals B) sum of total consumption and investment expenditure C) sum of personal income of all individuals D) money value of final goods and services produced

Discuss

Answer & Solution

Answer: Option B

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

Any supply curve which is a straight line passing through the origin whatever its slopes will possess

A) An elasticity which is less than one B) An elasticity which is greater than one C) Unitary elasticity of supply D) An elasticity which is greater than zero

Discuss

Answer & Solution

Answer: Option C

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

Which one of the following factors is included in estimating national income?

A) Sales of second hand goods B) Sales of debentures and bonds C) Value of production for self-consumption D) Transfer payments like pension

Discuss

Answer & Solution

Answer: Option C

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

In monopoly, the relationship between average revenue and marginal revenue curves is as follows:

A) Average revenue curve lies above the MR-curve B) AR curve lies below the MR-curve C) AR curve coincides with the MR-curve D) AR curve is parallel to the MR-curve

Discuss

Answer & Solution

Answer: Option A

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

Match the following.

List-I (Market Structure)	List-II (Price Elasticity of Demand)
a. Perfect Competition	1. Very small
b. Monopolistic Competition	2. Small
c. Oligopoly	3. Large
d. Monopoly	4. Infinite

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

Discuss

Answer & Solution

Answer: Option B

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

The smoothness and continuity of an indifference curve means that goods in question are assumed to be

A) complementary to each other B) supplementary to each other C) not related to each other D) perfectly divisible

Discuss

Answer & Solution

Answer: Option A

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

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