81. The economies and diseconomies of large scale production is determined by
82. Who demonstrated the abnormal shape of demand curve for diamonds through the doctrine of conspicuous consumption?
83. Statement I A rectangular hyperbola shaped demand curve has uniform slopes on all its points.
Statement II If the price elasticity is equal to unity, the marginal revenue corresponds to zero.
Statement II If the price elasticity is equal to unity, the marginal revenue corresponds to zero.
84. The demand function is a statement of the relationship between
85. Match the following:
List-I (Economist)
List-II (Statement)
a. Samuelson
1. A full account of the demand, or perhaps we can say the state of demands, for any good in given market at a given time should state what the volume of sales would be at each of a series of prices. Such an account taking the form of a tabulary statement, is known as a demand schedule.
b. Benham
2. Relationship between price and quantity bought is called the demand schedule.
c. Marshall
3. The greater the amount to be sold, the smaller must be the price at which it is offered in order that it may find purchasers, or in other words, the demand increases with a fall in price and diminishes with a rise in price.
d. Robinson
4. The elasticity of demand at any price or at any output is the proportional change of amount purchased in response to a small change in price divided by the proportional change in price.
| List-I (Economist) | List-II (Statement) |
| a. Samuelson | 1. A full account of the demand, or perhaps we can say the state of demands, for any good in given market at a given time should state what the volume of sales would be at each of a series of prices. Such an account taking the form of a tabulary statement, is known as a demand schedule. |
| b. Benham | 2. Relationship between price and quantity bought is called the demand schedule. |
| c. Marshall | 3. The greater the amount to be sold, the smaller must be the price at which it is offered in order that it may find purchasers, or in other words, the demand increases with a fall in price and diminishes with a rise in price. |
| d. Robinson | 4. The elasticity of demand at any price or at any output is the proportional change of amount purchased in response to a small change in price divided by the proportional change in price. |
86. If the factor prices and factor quantities move in the same direction, we have
87. Marginal revenue, at the quantity that generates maximum total revenue and negative beyond that point, has the value of
88. Value maximization theory fails to address the problem of
89. The time period and elasticity of time are related
90. Rise in general price level along with declining output in the economy is called
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