Classical

Managerial Economics - Managerial Economics MCQ

51:  

OPEC is an example of the type of producer's organisation known as a

A.

Trust

B.

Producer's Cooperative

C.

Marketing board

D.

Cartel

 
 

Option: D

Explanation :


52:  

The total utility is maximum when

A.

M.U. is zero

B.

M.U. is equal to A.U.

C.

M.U. is the highest

D.

A.U. is the highest

 
 

Option: A

Explanation :


53:  

The advertisement cost is included in

A.

Always in variable cost

B.

Sometimes in fixed cost sometimes in variable cost

C.

Fixed cost

D.

Never included in variable cost

 
 

Option: D

Explanation :


54:  

The elasticity of substitution between two inputs in CES production function

A.

Decreases continuously

B.

Increases continuously

C.

Remains constant

D.

None of these

 
 

Option: C

Explanation :


55:  

A perfectly competitive industry becomes a monopoly with the same cost conditions, it will now sell

A.

A larger output at a higher price

B.

A larger output at the old price

C.

An unchanged output at a higher price

D.

A reduced output at a higher price

 
 

Option: D

Explanation :




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