Managerial Economics

A. $${\text{AFC}} = \frac{{{\text{TFC}}}}{{\text{Q}}}$$

B. AFC = TC + TVC

C. $${\text{AFC}} = \frac{{{\text{TFC}}}}{{{\text{MC}}}}$$

D. AFC = MC + TVC

A. U-shaped

B. A straight line

C. C-shaped

D. Bell-shaped

A. a-1, b-2, c-3, d-4, e-5

B. a-1, b-3, c-5, d-2, e-4

C. a-2, b-4, c-3, d-5, e-1

D. a-2, b-4, c-1, d-3, e-5

A. the firm is a price taker

B. the firm cannot influence the price

C. the amount, the firm supplies to the market is small relative to total supply

D. all of the above

A. total value of goods and services produced by the nationals

B. sum of total consumption and investment expenditure

C. sum of personal income of all individuals

D. money value of final goods and services produced

A. An elasticity which is less than one

B. An elasticity which is greater than one

C. Unitary elasticity of supply

D. An elasticity which is greater than zero

A. Sales of second hand goods

B. Sales of debentures and bonds

C. Value of production for self-consumption

D. Transfer payments like pension

A. Average revenue curve lies above the MR-curve

B. AR curve lies below the MR-curve

C. AR curve coincides with the MR-curve

D. AR curve is parallel to the MR-curve

A. a-1, b-2, c-3, d-4

B. a-1, b-3, c-2, d-4

C. a-4, b-3, c-2, d-1

D. a-4, b-2, c-1, d-3

A. complementary to each other

B. supplementary to each other

C. not related to each other

D. perfectly divisible