Classical

Managerial Economics - Managerial Economics MCQ

66:  

If the supply curve of a commodity is positively sloped, a rise in the price of the commodity ceteris paribus, results in and is referred to as

A.

A decrease in both demand and supply

B.

A decrease in quantity supplied

C.

A decrease in supply

D.

A decrease in demand

 
 

Option: C

Explanation :


67:  

The competition among buyers, each trying to get enough of the product to satisfy his wants tends to move

A.

The equilibrium price

B.

The market price

C.

The consumer's price

D.

All of the above

 
 

Option: D

Explanation :


68:  

A consumer will be maximising his utility if he allocated his money income so that

A.

Elasticity of demand is the same for all purchased products

B.

The marginal utility from the last rupee spent on each purchased product is the same

C.

The marginal utility of the last unit of each product consumed is equal

D.

Total utility gained from each product consumed is the same

 
 

Option: B

Explanation :


69:  

The price which a consumer would be willing to pay for a commodity equals to his

A.

Average utility

B.

Marginal utility

C.

Total utility

D.

Does not have any relation to any one of these

 
 

Option: D

Explanation :


70:  

Where the leading firms in an industry combine to pursue a common policy in their interest but retain their separate identities, such combination is generally known as

A.

Joint-stock company

B.

Cartel

C.

Trust

D.

Holding company

 
 

Option: B

Explanation :




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