Managerial Economics

A. The present value of the firm's expected future net cash flows

B. The present value of capital

C. The future value of the firm's assets

D. The future value of the firm's capital and cash

A. More production yields lower per unit price

B. Average fixed cost increases sharply

C. The law of variable proportions applies to short-run production

D. Sales expenses become much larger

A. minimizes the average cost of production

B. minimizes the marginal cost of production

C. minimizes production costs

D. is most consistent with managerial objectives

A. market economy

B. social economy

C. business economy

D. open economy

A. $$\frac{{\% {\text{ Change in quantity demanded}}}}{{\% {\text{ Change in price}}}}$$

B. $$\frac{{\% {\text{ Change in price}}}}{{{\text{Cost}}}} \times 100$$

C. $$\frac{{{\text{Change in quantity demanded}}}}{{{\text{Supply}}}} \times 100$$

D. $$\frac{{{\text{National income}}}}{{{\text{Cost}}}} \times 100$$

A. At middle point

B. At lower point

C. At upper point

D. No permanent position

A. Levels of satisfaction among which the consumer is indifferent

B. The optimum level of satisfaction

C. The higher level of utility

D. The same lower level of satisfaction

A. The principle of diminishing marginal utility

B. The principle of equi-marginal utility

C. The principle of diminishing marginal rate of substitution

D. None of these

A. Not observable

B. Subjective

C. Introspective

D. Additive

A. The ratio of factor inputs

B. The change in the slope of the Iso-quant

C. The slope of the Iso-quant

D. None of the above