Managerial Economics

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Each section contains 100 MCQs on Managerial Economics .

A monopoly producer has

A) Control over production but not price B) Control over production, price and con sumers C) Control neither on production nor on price D) Control over production as well as price

Discuss

Answer & Solution

Answer: Option A

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

In which market structure, a firm has no control over price of it's product?

A) Monopoly B) Perfect competition C) Oligopoly D) Monopolistic competition

Discuss

Answer & Solution

Answer: Option B

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

Total utility curve is

A) Concave to x-axis B) Concave or convex depending on situations C) Convex to x-axis D) Concave to y-axis

Discuss

Answer & Solution

Answer: Option A

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

If the firms under perfect competition have different costs, abnormal profits will be earned in the long run only by

A) Marginal firm B) All the firms C) Intramarginal firms D) None of the firms

Discuss

Answer & Solution

Answer: Option C

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

Calculate price elasticity of demand if
Q₁ = 4000 P₁ = Rs. 20
Q₂ = 5000 P₂ = Rs. 19

A) Rs. 5 B) Rs. 9 C) Rs. 6 D) Rs. 3

Discuss

Answer & Solution

Answer: Option A

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

The market period supply curve for perishable commodities is

A) Perfectly elastic B) Perfectly inelastic C) Relatively elastic D) Relatively inelastic

Discuss

Answer & Solution

Answer: Option B

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

"The elasticity of demand may be defined as the percentage change in quantity demanded which would result from 1% change in price", is given by

A) Boulding B) Cairncross C) Joan Robinson D) Marshall

Discuss

Answer & Solution

Answer: Option A

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

Given the cost conditions

A) Monopoly output will be higher and prices lower than under pure competition B) Monopoly output will be lower and price higher than under pure competition C) Monopoly output and price will be higher than under pure competition D) Monopoly output and price will be lower than under pure competition

Discuss

Answer & Solution

Answer: Option B

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

For the purpose of measuring national income in India, CSO has divided the whole of Indian Economy into how many sectors?

A) 10 B) 14 C) 20 D) 28

Discuss

Answer & Solution

Answer: Option B

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

GNP = ?

A) Wages B) GDP + interest C) GDP + Net Factor Income from abroad D) GDP + Net Depreciation

Discuss

Answer & Solution

Answer: Option C

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

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