Classical

Managerial Economics - Managerial Economics Questions

26:  

Which is perfectly elastic demand curve?

A.

B.

C.

D.

 
 

Option: B

Explanation :

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27:  

Assume that a firm's total revenue curve takes the form of a straight line which passes through the origin. We may deduce that

A.

Total costs and total revenue are equal

B.

Price and marginal revenue are equal

C.

Price exceeds marginal revenue

D.

Elasticity of demand for the product is unity

 
 

Option: B

Explanation :

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28:  

Which is a diagram of life cycle of a product?

A.

B.

C.

D.

 
 

Option: A

Explanation :

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29:  

Which is a Total Variable Cost Curve?

A.

B.

C.

D.

 
 

Option: B

Explanation :

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30:  

Which is a curve of abnormal profit condition in case of monopoly price?

A.

B.

C.

D.

 
 

Option: A

Explanation :

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