Managerial Economics

A. Elasticity of demand is less than one

B. MR is negative

C. Both A and B

D. Market laws cease to be operate

A. Absolutely correct

B. Absolutely wrong

C. Partially correct

D. None of these

A. Decreasing total expenditure

B. Increasing total expenditure

C. The same total expenditure

D. None of the above

A. Firm is the price giver and the industry the price-taker

B. Firm is the price-taker and industry the price giver

C. Both are the price-takers

D. None of these

A. MR = MC

B. P < AC

C. MR < MC

D. MR > MC

A. All factors are variable

B. There is a fixed factor and a variable factor

C. There are only two variable factors

D. Variable factors yield less

A. When elasticities cannot be known

B. When elasticities of demand are different in different markets at the ruling price

C. When elasticities of demand in different markets are the same at the ruling price

D. None of these

A. Performance of the entire economy

B. Price and output determination of a commodity

C. Factors and forces of economic fluctuations

D. Monetary and fiscal policies

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

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

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

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

A. Joan Robinson

B. Paul Samuelson

C. Lionel Robbins

D. Alred Marshall