Classical

Managerial Economics - Managerial Economics Objective Type Questions

71:  

The elasticity of technical substitution is measured by

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

 
 

Option: D

Explanation :


72:  

The optimum output is the one which is produced

A.

At the maximum average cost

B.

By the optimum firm

C.

At the minimum average cost

D.

At zero marginal cost

 
 

Option: C

Explanation :


73:  

Consumers are likely to get a variety of goods under

A.

Imperfect competition

B.

Monopoly

C.

Perfect competition

D.

Oligopoly

 
 

Option: A

Explanation :


74:  

MU of nth unit is found by the following formula

A.

TU.n

B.

TU/n

C.

TUn – TU(n-1)

D.

TU = +n

 
 

Option: C

Explanation :


75:  

Marginal cost curve always cuts the average cost curve

A.

From below on the rising portion of the AC curve

B.

From below on the falling portion of the AC curve

C.

From below at the minimum point of the AC curve

D.

From below at any point on the AC curve

 
 

Option: C

Explanation :




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