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Managerial Economics and Ethics MCQ - Managerial Economics Quiz

6 The MC curve reaches its minimum point before the AVC curve and the AC curve. In addition the MC curve intersects the AVC curve and the AC curve at their lowest point. The above statements are both true

7 If cross-elasticity of one commodity for another turns out to be zero, it means they are

8 The case of a right angled indifference curve occurs when

9 While analysing Marshall's measure of consumer's surplus one assumes

10 A monopolist will fix the equilibrium output of his product where the elasticity of his AR curve is

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Question:

In case the two commodities are good substitutes, cross-elasticity will be

A. Positive
B. Negative
C. Unitary
D. Infinite

Correct answer: A

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