Managerial Economics

41

When average product increases, the marginal product is

A) Less than the average product B) Equal to the average Product C) More than the average product D) None of these

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Answer & Solution

Answer: Option A

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42

Pure monopoly exists

A) When there is a single producer with close substitutes B) When there is a single producer without any close substitutes C) When there is a single producer D) When a few producers control the industry

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Answer & Solution

Answer: Option B

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43

The reasons for L shaped long run average cost curve is/are
Managerial Economics mcq question image

A) technological progress B) learning by doing C) Both A and B D) None of these

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Answer & Solution

Answer: Option C

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44

The general average curve is also known as

A) Total marginal unit cost curve B) Average total unit cost curve C) Total unit cost curve D) Total variable unit cost curve

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Answer & Solution

Answer: Option B

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45

Which of the following statement is correct about demand curve?

A) When slope is zero, elasticity is zero; when slope is infinite, elasticity is also infinite B) When slope is zero, elasticity is unitary and when slope is infinite, elasticity is still unitary C) When slope is zero, demand is infinitely elastic; when slope is infinite, elasticity is zero D) None of the above

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Answer & Solution

Answer: Option C

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46

Match the following:

List-I (NNP)	List-II (Formula)
a. Personal Income	1. Private Income - Undistributed corporate profits - Profit Taxes
b. Disposable Income	2. Personal Income - Direct Taxes
c. NNP at factor cost	3. NNP at Market Prices - Indirect taxes + Subsidies
d. NNP	4. GNP - Depreciation

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

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Answer & Solution

Answer: Option C

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47

The falling part of a total utility curve shows

A) zero marginal utility B) decreasing marginal utility C) increasing marginal utility D) negative marginal utility

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Answer & Solution

Answer: Option D

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48

The imposition of a ceiling on a monopolist's price will affect his

A) Equilibrium output only B) Average revenue in the short-run only C) Profits only D) Equilibrium output and profits

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Answer & Solution

Answer: Option D

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49

MR_n = TR_n - TR_{n - 1} is the algebraic expression of

A) Information is insufficient B) Marginal Revenue, the change in total revenue when there is a change in quantity sold of the product C) The addition to TR earned by selling n units of product instead of (n - 1) units D) None of the above

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Answer & Solution

Answer: Option B

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50

Whichis an inverted 'U' shaped curve?

A) AC B) TC C) FC D) MC

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Answer & Solution

Answer: Option D

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