Top 250+ Solved Managerial Economics 1 MCQ Questions Answer
Q. The quantity of product X supplied can be expected to rise with a fall in:
a. prices of competing products
b. price of x
c. energy savings technical charge
d. input prices
Q. Firms under perfectly competitive markets generally are
a. price makers
b. price givers
c. price taker
d. none of these
Q. The concept of product differentiation was introduced by
a. tr malthus
b. jm keynes
c. mrs. robinson
d. chamberlin
Q. The architect of the theory of monopolistic competition
a. rosenstein roden
b. jr hicks
c. karl marx
d. chamberlin
Q. The concept of monopsony was invented by:
a. marshall
b. ap. learner
c. chamberlin
d. mrs. j. robinson
Q. A cost that has already been committed and cannot be recovered known as:
a. sunk cost
b. total cost
c. full cost
d. variable cost
Q. ------------ is situation of severely falling prices and lowest level of economic activities
a. boom
b. recovery
c. recession
d. depression
Q. ------------ is situation with increased investment and increased price
a. recession
b. progress
c. boom
d. recovery
Q. A graph indicating different combination of inputs with different level of output iscalled
a. iso-cost map
b. bep map
c. input-output map
d. iso-quant map
Q. Modern definition is also called as
a. Growth definition
b. Welfare definition
c. scarcity definition
d. Neoclassical definition
Q. Economics was classified into micro and macro by
a. Ragnar Frisch
b. Adam Smith
c. J M Keynes
d. A C Pigou
Q. Who is regarded as a father of Business Economics
a. Joel Dean
b. Adam Smith
c. J M Keynes
d. Ragnar Frisch
Q. Macro economic theory is also called as
a. Demand theory
b. Price theory
c. Income theory
d. None of these