Classical

Managerial Economics - Managerial Economics MCQ

61:  

When a monopolist is in

A.

Long-run equilibrium, he may or may not be in short-run equilibrium

B.

Long-run equilibrium, he will also be in short-run equilibrium

C.

Short-run equilibrium, he will also be in long-run equilibrium

D.

None of the above

 
 

Option: B

Explanation :


62:  

An indifference curve is always

A.

A vertical straight line

B.

Convex to the origin

C.

Concave to the origin

D.

A horizontal straight line

 
 

Option: B

Explanation :


63:  

Other things remaining the same, when a consumer's income increases, his equilibrium point moves to

A.

A higher indifference curve

B.

Moves to the left-hand side on the same indifference curve

C.

Remains unchanged on the same indifference curve

D.

A lower indifference curve

 
 

Option: A

Explanation :


64:  

If the price is statutorily fixed and equal to MC, monopoly profits will be

A.

At same level

B.

Decreased

C.

Eliminated

D.

Increased

 
 

Option: C

Explanation :


65:  

Average fixed cost can be obtained through

A.

AFC = TFC/Q

B.

AFC = TC + TVC

C.

AFC = TFC/MC

D.

AFC = MC + TVC

 
 

Option: A

Explanation :




Suggest an improvement