Classical

Managerial Economics - Managerial Economics MCQ

11:  

Under perfect competition a firm can produce with

A.

An optimum plant

B.

Identical products at low cost

C.

Maximum profit

D.

An optimum output

 
 

Option: A

Explanation :


12:  

If marginal cost is above average variable at a time when output is rising, then

A.

Average variable cost is falling

B.

Average variable cost is rising

C.

Average total cost is falling

D.

Average total revenue is rising

 
 

Option: B

Explanation :


13:  

Equilibrium of monopolist will never lie below the middle point of the average revenue curve because below the middle point

A.

Elasticity of demand is less than one

B.

MR is negative

C.

Both (a) and (b)

D.

Market laws cease to be operate

 
 

Option: C

Explanation :


14:  

The concept of indifference curve analysis was given scientific touch by

A.

Slutsky in 1915

B.

F. Y. Edgeworth in 1881

C.

Irving Fisher in 1982

D.

Alfred Marshall in 1921

 
 

Option: B

Explanation :


15:  

In monopoly, the relationship between average revenue and marginal revenue curves is as follows :

A.

Average revenue curve lies above the MR-curve

B.

AR curve lies below the MR-curve

C.

AR curve coincides with the MR-curve

D.

AR curve is parallel to the MR-curve

 
 

Option: A

Explanation :




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