Classical

Managerial Economics - Managerial Economics MCQ

96:  

Isoquant refers to

A.

An equal quantity curve of a consumer

B.

The production indifference curve

C.

Another name of indifference curve

D.

An equal cost curve of a producer

 
 

Option: B

Explanation :

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97:  

Under the perfect competition, the transportation cost

A.

Is considered to be negligible and thus, ignored

B.

Is charged along with the price of the commodity

C.

Is considered to be vital for the calculation of total cost

D.

Excluded from the prime cost

 
 

Option: A

Explanation :

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98:  

If a demand curve exhibits unit elasticity for all prices, the MR curve

A.

Is identical with it

B.

Lies below the demand curve

C.

Is identical with the X-axis

D.

Is identical with the Y-axis

 
 

Option: C

Explanation :

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99:  

Which is the best definition of the marginal firm?

A.

The firm with lowest costs

B.

The firm with the large profit

C.

The firm which makes only normal profit

D.

The firm which equates its marginal costs with marginal revenue.

 
 

Option: C

Explanation :

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100:  

The share of revenues paid to suppliers does not depend upon

A.

relative productivity.

B.

resource scarcity.

C.

input market competition.

D.

output market competition.

 
 

Option: D

Explanation :

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