Managerial Economics and Ethics - Managerial Economics Quiz
27. When the average product increases, the marginal product is
- Option : A
- Explanation :
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28. If two goods are perfect substitutes for each other, it necessarily follows that
- A
An indifference curve relating the two goods will be curvilinear
- B
An indifference curve relating the two goods will be linear
- C
An indifference curve relating the two goods will be divided into two segments which meet at a right angle
- D
An indifference curve relating the two goods will be convex to the origin.
- Option : B
- Explanation :
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29. In general, profit will be at a maximum where
- Option : A
- Explanation :
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- Option : C
- Explanation :
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