Classical

Managerial Economics - Managerial Economics MCQ

6:  

The Revealed Preference Theory is based on

A.

Introspection

B.

Utility and demand

C.

The assumption of indifference

D.

Observed consumer behaviour

 
 

Option: D

Explanation :


7:  

One would expect a firm to close down rather than continue producing in the short-period if

A.

Variable costs were to fall below fixed costs

B.

Total revenue were less than total variable cost

C.

Total revenue were more than total variable cost

D.

Variable costs were to rise above fixed costs

 
 

Option: B

Explanation :


8:  

Marginal Utility (MU) curve is always

A.

Parallel to X-axis

B.

Falling

C.

Rising

D.

Parallel to Y-axis

 
 

Option: B

Explanation :


9:  

The Law of Diminishing Returns depends on the assumption that

A.

Land is the factor kept constant

B.

The state of technical knowledge is unchanged

C.

Total output is constant

D.

Average output declines faster than marginal output

 
 

Option: B

Explanation :


10:  

MRn = TRn - TRn_1 is the algebraic expression of

A.

Information is insufficient

B.

Marginal Revenue, the change in total revenue when there is a change in quantity sold of the product.

C.

The addition to TR earned by selling n units of product instead of (n-1) units

D.

None of the above

 
 

Option: B

Explanation :




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  • Managerial Economics MCQ can be used for the preparation of quizzes.
  • Managerial Economics Questions Answers can be used to prepare for UGC NET Commerce, UGC NET JRF and many more.
  • Managerial Economics objective type questions answers can be used in the preparation of Ph. D Entrance exams.
  • Managerial Economics multiple choice questions answers can be used to gain a credit score in various undergraduate and post graduate courses.
  • These questions can also be used by any students for improving their knowledge in Managerial Economics
  • These mcq can also be used by any student of XI or XII standard who has opted to study commerce to increase his knowledge in Managerial Economics.
  • These Managerial Economics questions  can also  be used to prepare for interviews.