Managerial Economics

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

21.
A monopoly producer has

A. Control over production but not price

B. Control over production, price and con sumers

C. Control neither on production nor on price

D. Control over production as well as price

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22.
In which market structure, a firm has no control over price of it's product?

A. Monopoly

B. Perfect competition

C. Oligopoly

D. Monopolistic competition

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23.
Total utility curve is

A. Concave to x-axis

B. Concave or convex depending on situations

C. Convex to x-axis

D. Concave to y-axis

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24.
If the firms under perfect competition have different costs, abnormal profits will be earned in the long run only by

A. Marginal firm

B. All the firms

C. Intramarginal firms

D. None of the firms

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25.
Calculate price elasticity of demand if
Q₁ = 4000 P₁ = Rs. 20
Q₂ = 5000 P₂ = Rs. 19

A. Rs. 5

B. Rs. 9

C. Rs. 6

D. Rs. 3

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26.
The market period supply curve for perishable commodities is

A. Perfectly elastic

B. Perfectly inelastic

C. Relatively elastic

D. Relatively inelastic

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27.
"The elasticity of demand may be defined as the percentage change in quantity demanded which would result from 1% change in price", is given by

A. Boulding

B. Cairncross

C. Joan Robinson

D. Marshall

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28.
Given the cost conditions

A. Monopoly output will be higher and prices lower than under pure competition

B. Monopoly output will be lower and price higher than under pure competition

C. Monopoly output and price will be higher than under pure competition

D. Monopoly output and price will be lower than under pure competition

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29.
For the purpose of measuring national income in India, CSO has divided the whole of Indian Economy into how many sectors?

A. 10

B. 14

C. 20

D. 28

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30.
GNP = ?

A. Wages

B. GDP + interest

C. GDP + Net Factor Income from abroad

D. GDP + Net Depreciation

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1 2 3 4 5

Managerial Economics

21. A monopoly producer has

Answer & Solution

22. In which market structure, a firm has no control over price of it's product?

Answer & Solution

23. Total utility curve is

Answer & Solution

24. If the firms under perfect competition have different costs, abnormal profits will be earned in the long run only by

Answer & Solution

25. Calculate price elasticity of demand if Q1 = 4000 P1 = Rs. 20 Q2 = 5000 P2 = Rs. 19

Answer & Solution

26. The market period supply curve for perishable commodities is

Answer & Solution

27. "The elasticity of demand may be defined as the percentage change in quantity demanded which would result from 1% change in price", is given by

Answer & Solution

28. Given the cost conditions

Answer & Solution

29. For the purpose of measuring national income in India, CSO has divided the whole of Indian Economy into how many sectors?

Answer & Solution

30. GNP = ?

Answer & Solution

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21.
A monopoly producer has

22.
In which market structure, a firm has no control over price of it's product?

23.
Total utility curve is

24.
If the firms under perfect competition have different costs, abnormal profits will be earned in the long run only by

25.
Calculate price elasticity of demand if
Q₁ = 4000 P₁ = Rs. 20
Q₂ = 5000 P₂ = Rs. 19

26.
The market period supply curve for perishable commodities is

27.
"The elasticity of demand may be defined as the percentage change in quantity demanded which would result from 1% change in price", is given by

28.
Given the cost conditions

29.
For the purpose of measuring national income in India, CSO has divided the whole of Indian Economy into how many sectors?

30.
GNP = ?