Managerial Economics

A. A rise in the income of the consumer

B. An improvement in the techniques of production

C. A rise in the price of the commodity

D. An increase in the income of the seller

A. When each firm is in equilibrium equat ing MC with MR

B. When all the firms are earning only normal profits

C. When firms outside have no tendency to enter the industry and those within, have no tendency to leave the industry

D. When all the three conditions are fulfilled

A. Consumer preferences are unpredictable

B. Consumer preferences are irrational

C. X-is a discommodity

D. Y-is a discommodity

A. $${e_p} = \frac{{{P_1} - {P_2}}}{{{Q_1}}} \times \frac{{{P_1} + {P_2}}}{{{Q_2}}}$$

B. $${e_p} = \frac{{\frac{{{Q_2} - {Q_1}}}{{{Q_1}}}}}{{{P_1}}} \times 100$$

C. $${e_p} = \frac{{\frac{{{Q_2} - {Q_1}}}{{{Q_1}}}}}{{\frac{{{P_2} - {P_1}}}{{{P_1}}}}}$$

D. $${e_p} = \frac{{\frac{{{Q_2} - {Q_1}}}{{{Q_1}}}}}{{{\text{Product}}}} \times 100$$

A. Rs. 15,860

B. Rs. 12,000

C. Rs. 13,000

D. Rs. 19,000

A. 1, 3, 4, 2, 5

B. 1, 5, 3, 4, 2

C. 1, 3, 2, 5, 4

D. 1, 2, 3, 4, 5

A. Social costs

B. Implicit costs

C. Explicit costs

D. Both B and C

A. M.U. is zero

B. M.U. is equal to A.U.

C. M.U. is the highest

D. A.U. is the highest

A. Mid-way

B. Less than half-way

C. More than half-way

D. Anywhere

A. Vertical phillips curve

B. Money illusion and ignorance among workers

C. Horizontal phillips curve

D. None of the above