Business Economics - Business Economics Section 1

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51. Assertion (A). Business Economics is a tool facilitating decision making in business.
Reason (R). It provides an analytical understanding of economic activities.

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52. Which one of the following is not matched properly.

List-I List-II
l. The high initial price to be lowered later on1. Product line pricing
II. Price to be proportional to cost.2. Differential pricing
Ill. Price to be increased for providing a profit3.pioneer pricing
IV. Price to be different in different markets.4. Incremental pricing.

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53. For the relationship between AC and MC, which of the following statement is wrong?

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54. Assertion (A). The demand for the product of a firm under oligopoly is at a price higher than the prevailing market price.
Reason (R). The oligopolistic firm faces a kinked demand curve.

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55. In the case of utility theory, as income increases, the marginal utility of money

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