41. The law of increasing returns is only applicable to agriculture; according to
42. The concept of monopsony (buyer's monopoly) was invented by
43. Price discrimination will not be a good approach for
44. Efficient allocation of resources is likely to be achieved under
45. When the TR curve and TC curve are parallel and TR exceeds TC
46. Which is an inverted 'U' shaped curve?
47. Match the following:
List-I (Economist)
List-II (Statement)
a. Malcoln E. Mc-Nair and Richard
1. Managerial Economics consists of the use of economic model of thought to analyse business situation.
b. Joel Dean
2. The purpose of managerial economics is to show how economic analysis can be used in formulating business policies.
c. Milton and Siegelman
3. Managerial Economics is the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management.
d. Edwin
4. Managerial Economics attempts to bridge the gap between the purely analytical problems that intrigue many economic theorists and the problems of policies that management must face.
| List-I (Economist) | List-II (Statement) |
| a. Malcoln E. Mc-Nair and Richard | 1. Managerial Economics consists of the use of economic model of thought to analyse business situation. |
| b. Joel Dean | 2. The purpose of managerial economics is to show how economic analysis can be used in formulating business policies. |
| c. Milton and Siegelman | 3. Managerial Economics is the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management. |
| d. Edwin | 4. Managerial Economics attempts to bridge the gap between the purely analytical problems that intrigue many economic theorists and the problems of policies that management must face. |
48. Income method for measuring GNP considers
49. Arc elasticity gives a better measure of point elasticity of a curvilinear demand curve as
50. The revealed preference theory assumes
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