Managerial Economics MCQ

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Multiple Choice Questions (MCQ) with answers on Managerial

Economics
August 16, 2015 admin
24
Multiple Choice Questions (MCQ) with answers on Managerial Economics
1-Demand is determined by
a. Price of the product

b. Relative prices of other goods
c. Tastes and habits
d. All of the above
(Ans: d)
2-When a firm’s average revenue is equal to its average cost, it gets ________.
a. Super profit
b. Normal profit
c. Sub normal profit
d. None of the above
(Ans: b)
3-Managerial economics generally refers to the integration of economic theory with business
a. Ethics
b. Management
c. Practice
d. All of the above
(Ans: c)
4-Given the price, if the cost of production increases because of higher price of raw materials,
the supply
2 of 8 21-Nov-16 8:51 PM
a. Decreases
b. Increases
c. Remains same
d. Any of the above
(Ans: a)
5-The cost recorded in the books of accounts are considered as
a. Total cost
b. Marginal cost
c. Average cost
d. Explicit cost
(Ans: d)
6-A Joint Stock Company is managed by the Board of Directors elected by _____ .
a. Top management
b. Shareholders
c. Employees of company
(Ans: b)
7-Under ______, price is determined by the interaction of total demand and total supply in the
market.
a. Perfect competition
b. Monopoly
c. Imperfect competition
d. All of the above
(Ans: a)
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8-Under perfect competition, price is determined by the interaction of total demand and
________.
a. Total supply
b. Total cost
c. Total utility
d. Total production
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(Ans: a)
9-The out of pocket costs are ________.
a. Sunk costs
b. Marginal costs
c. Explicit costs
d. Social costs
(Ans: b)
10-The short run Average Cost curve is __ shaped
a. V
b. U
c. L
d. Any of the above
(Ans: b)
11-Distinction between private sector and public sector is determined on the basis of
a. Economic system
b. Motive
c. Principle of pricing
d. All of the above
(Ans: d)
12-Goods produced on small scale have
a. Relatively inelastic supply

b. Highly elastic supply
c. Perfectly elastic supply
(Ans: a)
13-Oligopoly is a type of ________ market. A ________ exists in the industry
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a. Perfect, few firms
4 of 8 21-Nov-16 8:51 PM
b. Imperfect, few firms

c. Perfect, many firms
d. Imperfect, many firms
(Ans: b)
14-The management of the _________ form of business organization is totalitarian in nature.
a. Cooperative
b. Partnership
c. Individual proprietorship
d. All of the above
(Ans: a)
15-The demand curve has a _____ slope.
a. Undefined
b. Zero c
c. Negative
d. Positive
(Ans:)
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Multiple Choice Questions (MCQ) with answers on Managerial Economi... http://scholarexpress.com/multiple-choice-questions-mcq-with-answers-...

Tuesday, November 22, 2016

Multiple Choice Questions (MCQ) with answers on Managerial

Multiple Choice Questions (MCQ) with answers on Managerial Economics

a. Price of the product

5-The cost recorded in the books of accounts are considered as

Server not found

9-The out of pocket costs are ________.

10-The short run Average Cost curve is __ shaped

12-Goods produced on small scale have

a. Relatively inelastic supply

13-Oligopoly is a type of ________ market. A ________ exists in the industry

Server not found

b. Imperfect, few firms

14-The management of the _________ form of business organization is totalitarian in nature.

15-The demand curve has a _____ slope.

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13-Oligopoly is a type of market. A exists in the industry