Managerial Economics

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Each section contains 100 MCQs on Managerial Economics .

When the economist speaks of an increase in demand, he is usually referring to a

A) shift in demand curve to right B) movement along demand curve downwards right C) shift in demand curve to left D) movement along demand curve upwards

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

The change in TR resulting from the sale of one unit more of output, means

A) AR from a given output B) MR from a given output C) MR from a given input D) MR from MC

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

The MC curve reaches its minimum point before the AVC curve and the AC curve. In addition the MC curve intersects the AVC curve and the AC curve at their lowest point. The above statements are both true

A) Always B) Often C) Never D) Sometimes

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

"The more nearly perfect a market is, the stronger is the tendency for the same price to be paid for the same thing at the same time in all parts of the market" is the definition of perfect competition by

A) Jevons B) J. S. Mill C) Prof. Benham D) Prof. Marshall

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

The monopolists shift up their SAC and SMC curves because of the imposition of

A) a per unit tax B) a per unit price C) a per unit tax like a variable cost D) a per unit excise duty

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

A demand curve which takes the form of a horizontal line parallel to the quantity axis illustrates elasticity which is

A) < 1 B) Infinite C) > 1 D) Zero

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

By "normal profits" is meant

A) The surplus profit made by the least efficient firms B) The payment made to the marginal entrepreneur for his abilities C) The profit made by the marginal entrepreneur in a normal year D) The payment needed to keep an entrepreneur in an industry

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

When a monopolist is in

A) Long-run equilibrium, he may or may not be in short-run equilibrium B) Long-run equilibrium, he will also be in short-run equilibrium C) Short-run equilibrium, he will also be in long-run equilibrium D) None of the above

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Even if costs increase, the MC remains unaffected, the cost is

A) Total fixed cost B) Fixed cost C) Variable cost D) Average cost

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Bilateral monopoly means

A) A monopoly seller buying his input from many suppliers B) Two rival buyers only C) Two rival sellers only D) A monopolist facing a monopsonist

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

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