Managerial Economics

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Each section contains 100 MCQs on Managerial Economics .

Equilibrium of monopolist will never lie below the middle point of the average revenue curve because below the middle point

A) Elasticity of demand is less than one B) MR is negative C) Both A and B D) Market laws cease to be operate

Discuss

Answer & Solution

Answer: Option C

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

"The concept of marginal utility is useful for explaining diamond-water Paradox". This statement is

A) Absolutely correct B) Absolutely wrong C) Partially correct D) None of these

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Answer & Solution

Answer: Option A

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

All the points on a budget line represent

A) Decreasing total expenditure B) Increasing total expenditure C) The same total expenditure D) None of the above

Discuss

Answer & Solution

Answer: Option B

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

In perfectly competitive market

A) Firm is the price giver and the industry the price-taker B) Firm is the price-taker and industry the price giver C) Both are the price-takers D) None of these

Discuss

Answer & Solution

Answer: Option B

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

The equilibrium level of output for the pure monopolist is where

A) MR = MC B) P < AC C) MR < MC D) MR > MC

Discuss

Answer & Solution

Answer: Option A

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

The Law of variable proportions comes into being when

A) All factors are variable B) There is a fixed factor and a variable factor C) There are only two variable factors D) Variable factors yield less

Discuss

Answer & Solution

Answer: Option B

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

Price discrimination is possible

A) When elasticities cannot be known B) When elasticities of demand are different in different markets at the ruling price C) When elasticities of demand in different markets are the same at the ruling price D) None of these

Discuss

Answer & Solution

Answer: Option B

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

Which one of the followingis not covered in macro economics?

A) Performance of the entire economy B) Price and output determination of a commodity C) Factors and forces of economic fluctuations D) Monetary and fiscal policies

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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. Cardinal approach	1. Marginal utility
b. Ordinal approach	2. Revealed preference theory
c. Hicks-Allen approach	3. Indifference curve
d. Consumers surplus	4. Alfred Marshall

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

Discuss

Answer & Solution

Answer: Option B

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

The Revealed Preference Theory was formulated by

A) Joan Robinson B) Paul Samuelson C) Lionel Robbins D) Alred Marshall

Discuss

Answer & Solution

Answer: Option B

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

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