Classical

Managerial Economics - Managerial Economics Objective Type Questions

21:  

In finding equilibrium position of a profit maximising firm, which technique is most convenient?

A.

Demand and supply technique

B.

Marginal revenue and marginal cost technique

C.

Total revenue and total cost technique

D.

None of these

 
 

Option: B

Explanation :


22:  

MU curve will be below X-axis when

A.

MU is zero

B.

MU is negative

C.

MU is positive

D.

MU is constant

 
 

Option: B

Explanation :


23:  

When the APL is positive but declining, the MPL could be

A.

Negative

B.

Zero

C.

Declining

D.

Any of the above

 
 

Option: D

Explanation :


24:  

The MP of a factor

A.

Is always either positive or zero

B.

Is always positive

C.

Can be positive, negative or zero

D.

Is always negative

 
 

Option: C

Explanation :


25:  

When the income elasticity of demand is greater than unity, the commodity is

A.

An inferior good

B.

A luxury

C.

A necessity

D.

A non-related good

 
 

Option: B

Explanation :




Suggest an improvement