Classical

Managerial Economics - Managerial Economics MCQ

46:  

Gossen's Second law states that

A.

The consumers consume only when

     Px/Py = MUm

B.

When the income increases the money value or real income will decrease

C.

Once a person has spent his entire income he would have maximised his total pleasure from it only if the satisfaction gained from the last item of each commodity bought was the same

D.

None of these

 
 

Option: C

Explanation :


47:  

Managerial economics cannot be used to identify

A.

microeconomic consequences of managerial behavior.

B.

how macroeconomic forces affect the organization.

C.

goals of the organization.

D.

ways to efficiently achieve the organization's goals.

 
 

Option: C

Explanation :


48:  

One equates price and MC to maximise profit the other one equates MC and MR for the same purpose; they are

A.

Monopolist and perfect competitor

B.

Oligopolist and monopolist

C.

Monopsonist and perfect competitor

D.

Perfect competitor and duopolist

 
 

Option: A

Explanation :


49:  

Increasing returns to scale can be explained in terms of

A.

External and internal diseconomies

B.

External and internal economies

C.

External diseconomies and internal economies

D.

Optimum factor combination

 
 

Option: B

Explanation :


50:  

A rightwards shift in supply curve indicates

A.

An increase in quality supplied

B.

A decrease in supply

C.

An increase in supply

D.

None of the above

 
 

Option: C

Explanation :




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