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Managerial Economics

Managerial Economics Page-9 section-1

Each section contains 100 MCQs on Managerial Economics .
81
A decision standard that selects the alternative with the best of the worst possible outcomes is
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Answer & Solution
Answer: Option C
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82
The demand schedule showing the quantity demanded at each price is known as
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Answer: Option A
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83
For perfectly complementary products, the marginal rate ofsubstitution MRSxy is
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Answer: Option B
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84
Given:
Price Demand
Rs. 7 10
Rs. 6 20
Rs. 5 30
Rs. 4 40
Rs. 3 50
Rs. 2 60
Rs. 1 70
The above table indicates the
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Answer: Option A
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85
Match the following.
List-I (Economist) List-II (Statement)
a. Joel Dean 1. The purpose of managerial economics shows how economic analysis can be used in formulating business policies.
b. Edwin 2. Managerial economics attempts to bridge the gap between Purely analytical problems and the problems of policies that management must face.
c. Milton and Siegelman 3. Managerial economics consists of the use of economic models of thought to analyse business situations.
d. Malcolm E. Mc. Nair and Richard 4. Managerial economics is the integration of economic theory with business practices for the purpose of facilitating decision making and forward planning by management.
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Answer: Option C
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86
Which of the following concepts are most closely associated with Alfred Marshall?
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Answer: Option A
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87
When the units of factor increases, marginal revenue productivity of a factor
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Answer: Option A
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88
External economies are witnessed in
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Answer: Option C
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89
In short-run, a firm would remain in business as long as which one of the following of costs is covered?
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Answer: Option C
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90
Estimation of GDP on the basis of prevailing prices is called
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Answer: Option D
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