Top 250+ Solved Managerial Economics 1 MCQ Questions Answer
Q. ……………………is the method of leadership pricing
a. Going rate pricing
b. Follow up pricing
c. Barometric pricing
d. Parity pricing
Q. Generally used strategy for pricing new products is/are
a. Skimming price strategy
b. Penetration price strategy
c. Both a & b
d. None of these
Q. …………… provide guidelines to carry out ……………
a. Pricing strategies, pricing policies
b. Pricing policies, pricing strategies
c. Pricing rules, pricing policies
d. Pricing rules, pricing strategies
Q. Psychological pricing is also called as;
a. Penetration pricing
b. Skimming pricing
c. Odd pricing
d. None of these
Q. Prices of Bata shoe as Rs.99.99, this pricing is
a. Mark up pricing
b. Odd pricing
c. Marginal cost pricing
d. Follow up pricing.
Q. Which one of the following is not a reason for adopting skimming price strategy
a. When the demand of new product is relatively inelastic.
b. When there is no close substitutes
c. Elasticity of demand is not known
d. Product has high price elasticity in the initial stage
Q. Which one of the following is not a reason for adopting penetration price strategy
a. Product has high price elasticity in the initial stage.
b. The product is accepted by large number of customers.
c. Economies of large scale production available to firm
d. When the buyers are not able to compare the value and utility
Q. Customary pricing is also known as
a. Consumer pricing
b. Conventional pricing
c. Cost plus pricing
d. Full cost pricing
Q. Which of the following is/ are the reason for adopting penetration price strategy
a. Economies of large scale production available to firm.
b. Potential market for the product is large.
c. Cost of production is low.
d. All the above
Q. Which of the following is/ are the reason for adopting skimming price strategy
a. When the buyers are not able to compare the value and utility.
b. To attract the high income customers.
c. When the product has distinctive qualities, luxuries
d. All the above
Q. The market with a single producer’’
a. perfect competition
b. monopolistic competition
c. oligopoly
d. monopoly
Q. In the oligopoly market there are
a. large no. of firms
b. a few firms
c. a single firm
d. an infinite no. of firms
Q. The short run production function is called;
a. Returns to scale
b. law of variable proportion
c. Production possibility frontier
d. None of these
Q. Under oligopoly a single seller cannot influence significantly
a. market price
b. quantity supplied
c. advertisement cost
d. all the above
Q. Average revenue is the revenue per
a. unit commodity sold
b. total commodity sold
c. marginal commodity sold
d. none of these