31. The doctrine of consumer's surplus is based on
32. Gossen's Second law states that
33. Which of the following statement is correct?
34. Expanding the output till the rising marginal cost is less than price, is the nature of
35. The demand function for commodity X, is QD = 300 - 20P; where P is the price in rupees per unit and QD is the quantity demanded in units per period. Which of the following is the price level at which total revenue of a firm facing this demand function is maximised?
36. At the shutdown point
37. The Line ACDG represents
38. The demand for pepper is likely to have a low price elasticity because it
1. Involves only a small proportion of consumers expenditure
2. It is single-use good
3. Has no close substitutes
4. Can readily be foregone
1. Involves only a small proportion of consumers expenditure
2. It is single-use good
3. Has no close substitutes
4. Can readily be foregone
39. With increasing returns to scale, the equilibrium in a market is incomplete. This is
40. Consumers are likely to get maximum variety of goods under
Read More Section(Managerial Economics)
Each Section contains maximum 100 MCQs question on Managerial Economics. To get more questions visit other sections.