Managerial Economics

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Each section contains 100 MCQs on Managerial Economics .

When with a change in price the total outlay on a commodity remains constant, it is a case of

A) Perfect inelasticity B) Perfect elasticity C) Unit elasticity D) Zero elasticity

Discuss

Answer & Solution

Answer: Option C

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

Which of the following is an implicit cost of production?

A) Charges for electricity B) Wages of the labour C) Interest on owned money capital D) payment for raw materials

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Answer & Solution

Answer: Option C

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

Economies of Scale means

A) Reductions in unit cost of production B) Reductions in unit cost of distribution C) Addition to the unit cost of production D) Reduction in the total cost of production

Discuss

Answer & Solution

Answer: Option A

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

A profit-maximising monopolist in two separate markets will

A) Always charge a higher price in the market where he sells less B) Always charge a higher price in the market where he sells more C) Charge the same price in both markets D) Adjust his sales in the two markets so that his MR in each market just equals his aggregate marginal cost

Discuss

Answer & Solution

Answer: Option D

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

For a closed economy having no foreign trade which one of the following is correct?

A) GDP = GNP B) GDP > GNP C) GDP D) GDP ≤ = GNP

Discuss

Answer & Solution

Answer: Option A

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A centralised cartel

A) Is illegal in the U.S. B) Behaves as the multiplant monopolist if it wants to minimise the total cost of production C) Leads to the monopoly situation D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

Law of equi-marginal utility is also known as

A) Law of substitution B) Law of maximum satisfaction C) Gossen's second law D) All of the above

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Answer & Solution

Answer: Option D

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

Which one of the following is not a determinant of demand?

A) Government policy B) Impact of advertisement C) Climatic conditions D) None of the above

Discuss

Answer & Solution

Answer: Option D

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

Price elasticity of demand provides

A) A measure of the responsiveness of the quantity demanded to changes in the price of the product, holding constant the values of all other variables in the demand function B) A technical change in the goodwill of the firm C) A technical change in the cost of product D) Technical change in the value

Discuss

Answer & Solution

Answer: Option A

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

Calculate the advertising elasticity of sales if 'A' denotes advertising expenditure and 'S' denotes sales
S₁ = Rs. 40,000 A₁ = Rs. 200
S₁ = Rs. 50,000 A₁ = Rs. 190

A) 1 B) 5 C) 2.5 D) 3

Discuss

Answer & Solution

Answer: Option B

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

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