Managerial Economics

A. $${e_i} = \frac{{{Q_1} - {Q_2}}}{{{P_1}}}$$

B. $${e_i} = \frac{{{Q_2} - {Q_1}}}{{\frac{{{Q_1}}}{{\frac{{{Y_2} - {Y_1}}}{{{Y_1}}}}}}}$$

C. $${e_i} = \frac{{{Q_2} - {Q_1}}}{{{Q_1}}} \times \frac{{{Y_1}}}{{{Y_2} - {Y_1}}} \times 100$$

D. $${e_i} = \frac{{{Y_1} - {Q_1}}}{{{Y_2} - {Q_2}}}$$

A. an increase in demand

B. an increase in quantity demanded

C. law of demand

D. All of the above

A. $$\left[ {1 - e} \right]$$

B. $$\left[ {e - \frac{1}{e}} \right]$$

C. $$\left[ {1 - \frac{1}{e}} \right]$$

D. $$\left[ {\frac{1}{e} - 1} \right]$$

A. Equal to AR

B. Less than AR

C. More than AR

D. Equal to zero

A. An elasticity less than one but not zero

B. Unitary elasticity of supply

C. An elasticity greater than one

D. Zero elasticity of supply

A. Goes through the lowest point of the LMC curve

B. Rises when the LMC curve rises

C. Falls when the LMC curve falls

D. Falls when LMC < LAC and rises when LMC > LAC

A. U shaped

B. A horizontal straight line

C. A vertical straight line

D. A straight line at 45° to the horizontal axis

A. Remains the same whatever the level of output

B. Increases as output increases

C. Diminishes as output increases

D. All the three are possible

A. The minimum price and minimum quantity

B. The maximum price and minimum quantity

C. The maximum quantity and the minimum price

D. Both price and quantity is maximum

A. a-1, b-3, c-4, d-2

B. a-1, b-2, c-4, d-3

C. a-1, b-3, c-2, d-4

D. a-1, b-2, c-3, d-4