Managerial Economics and Ethics - Managerial Economics Practice Questions

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31. If the firms under perfect competition have different costs, abnormal profits will be earned in the long run only by

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Option : C
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32. As a consumer increases his consumption of a commodity, the total utility he derives from its consumption increases, but at a diminishing rate. This is

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Option : C
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33. Which of the stages is a relevant range for a rational firm in the competitive situation in the following diagram?

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Option : B
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34. The indifference curve which is 'L' shaped represents

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Option : A
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35. The point which shows the maximum marginal product in the total product curve represents

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Option : D
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Managerial Economics Practice Questions

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