Classical

Managerial Economics - Managerial Economics Questions

71:  

The demand function yield price function is given below, the price for market will be :

(Pb = 32 - Qb)

A.

19

B.

215

C.

20

D.

30

 
 

Option: A

Explanation :


72:  

Calculate elasticity of demand :

Given : That a 20% increase in the price of Bread causes the amount of Bread you buy to fall by 40%

A.

0.5

B.

4

C.

2

D.

6

 
 

Option: C

Explanation :


73:  

Factors determining demand is/are

A.

Price of the product itself

B.

Consumer's expectations of future

C.

Population

D.

All of the above

 
 

Option: D

Explanation :


74:  

The short run equilibrium condition gives following data :

Equilibrium output = 30

P1 (= AR1) = 140

LAC = 72.08

Super normal profit will be :

A.

70.42

B.

67.92

C.

67

D.

All of these

 
 

Option: B

Explanation :


75:  

Which is true?

A.

If AR = AC, the firm earns only normal profit

B.

If AR > AC, there is economic profit for the firm

C.

If AR < AC, though only a theoretical possibly, the firm makes losses

D.

All of the above

 
 

Option: D

Explanation :




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