Which of the following is called as the Gossen's First Law?
A. The Law of equi-marginal utility
B. Law of Substitution
C. The Law of diminishing marginal utility
D. The Law of indifference
Answer: Option C
A. The Law of equi-marginal utility
B. Law of Substitution
C. The Law of diminishing marginal utility
D. The Law of indifference
Answer: Option C
The emphasis of managerial economics is on
A. Bonus theory
B. Normative theory
C. System theory
D. Accounting theory
Which is not the subject of Managerial Economics?
A. Accounting Theory
B. Pricing Decision, Policies and Practices
C. Capital Management
D. Profit Management
Which is not covered under the scope of managerial economics?
A. Profit management
B. Accounting theory
C. Pricing policies
D. Production analysis
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