Classical

Business Economics - Business Economics Questions

16:  
Which of the following economies accrue all the firm in an industry?
A.

Managerial Economies

B.

Economies of Concentration

C.

Labour Economies

D.

Marketing Economies

 
 

Option: B

Explanation :

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17:  
Consider the oligopoly models
(i) Sweezy's kinked demand curve models
(ii) Newman and Morgenstern game theory model
(iii) Coumal's duopoly model
(iv) Baumal' s sales maximum model
Arrange them in correct sequence as per order of evolution
A.

(iv), (iii), (ii), (i)

B.

(ii), (i), (iii), (iv)

C.

(iii), (i), (ii), (iv)

D.

(i), (iii), (ii), (iv)

 
 

Option: C

Explanation :

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18:  
Consumer attains equilibrium when he maximises his utility, given his income and market price of two product of
(i) Marginal rate of substitution be equal to the ratio of commodity price i.e.
                     MRSxy = MUx / MUy = Px /Py
(ii) Indifference curve is convex to the origin.
A.

Only (i) is true

B.

Only (ii) is true

C.

Both (i) and (ii) are true

D.

Neither (i) nor (ii) are true.

 
 

Option: C

Explanation :

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19:  
The collective demand of all persons in the market is referred as
A.

Demand curve

B.

Market Demand Schedule

C.

Both (a) and (b)

D.

None of these

 
 

Option: B

Explanation :

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20:  

Ordinal measure of utility is required in

A.

Revealed preference

B.

Utility

C.

Indifference curve

D.

None of the above

 
 

Option: C

Explanation :

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