Managerial Economics Page-1 section-4

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6

1.
From the resource allocation point of view, perfect competition is preferable because

A. the firm operate at excess capacity

B. there is no idle capacity

C. there is a whole variety of output

D. free entry and exit of firms

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2.
The marginal product curve is above the average product curve when the average product is

A. Becomes constant

B. Increasing

C. Decreasing

D. None of the above

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3.
Which of the following does not have a uniform elasticity of demand at all points?

A. A horizontal demand curve

B. A vertical demand curve

C. A rectangular hyperbola demand curve

D. A downward sloping demand curve

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4.
The total effect of a price change of a commodity is

A. substitution effect + price effect

B. substitution effect - income effect

C. substitution effect + income effect

D. substitution effect - price effect

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5.
Demand Analysis includes:

A. Demand Forecasting

B. Demand Differentials

C. Demand Determinations

D. All of the above

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6.
A Consumer's Demand Curve can be obtained from

A. Engel's Curve

B. Income Consumption Curve

C. Price Consumption Curve

D. Lorenz curve

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7.
Given:
P = Rs. 20
Q = Rs. 5000
P₁ = Rs. 22
Q₁ = Rs. 4000
What will be point of elasticity?

A. 2000

B. 2

C. 20

D. 200

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8.
If the price is statutorily fixed and equal to MC, monopoly profits will be

A. At same level

B. Decreased

C. Eliminated

D. Increased

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9.
Economists associated with the develop ment of indifference curve analysis are

A. Hicks and Robbins

B. Hicks and Allen

C. Marshall and Hicks

D. Hicks and Walras

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10.
Goods X and Y are perfect substitutes. A consumer's indifference curve for these commodities is represented by a

A. Upward sloping straight line

B. Upward sloping curve which is convex from below

C. Downward sloping straight line

D. Downward sloping curve which is convex to origin

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Managerial Economics

1. From the resource allocation point of view, perfect competition is preferable because

Answer & Solution

2. The marginal product curve is above the average product curve when the average product is

Answer & Solution

3. Which of the following does not have a uniform elasticity of demand at all points?

Answer & Solution

4. The total effect of a price change of a commodity is

Answer & Solution

5. Demand Analysis includes:

Answer & Solution

6. A Consumer's Demand Curve can be obtained from

Answer & Solution

7. Given: P = Rs. 20 Q = Rs. 5000 P1 = Rs. 22 Q1 = Rs. 4000 What will be point of elasticity?

Answer & Solution

8. If the price is statutorily fixed and equal to MC, monopoly profits will be

Answer & Solution

9. Economists associated with the develop ment of indifference curve analysis are

Answer & Solution

10. Goods X and Y are perfect substitutes. A consumer's indifference curve for these commodities is represented by a

Answer & Solution

Read More Section(Managerial Economics)

1.
From the resource allocation point of view, perfect competition is preferable because

2.
The marginal product curve is above the average product curve when the average product is

3.
Which of the following does not have a uniform elasticity of demand at all points?

4.
The total effect of a price change of a commodity is

5.
Demand Analysis includes:

6.
A Consumer's Demand Curve can be obtained from

7.
Given:
P = Rs. 20
Q = Rs. 5000
P₁ = Rs. 22
Q₁ = Rs. 4000
What will be point of elasticity?

8.
If the price is statutorily fixed and equal to MC, monopoly profits will be

9.
Economists associated with the develop ment of indifference curve analysis are

10.
Goods X and Y are perfect substitutes. A consumer's indifference curve for these commodities is represented by a