Top 250+ Solved Managerial Economics 1 MCQ Questions Answer
Q. The implication of the kinked demand curve is reflected in a discontinuity in the:
a. Marginal revenue curve
b. Marginal cost curve
c. Total revenue curve
d. Total cost curve
Q. A firm that is the sole seller of a product without close substitutes called:
a. Monopoly
b. Oligopoly
c. Competition
d. Bureaucracy
Q. When all the productive services are increased in a given proportion, the product isincreased in the same proportion. This situation is called:
a. Law of increasing
b. Situation of constant returns
c. Fixed cost
d. Variable cost
Q. Which factors is/are influencing price policy?
a. Cost of product
b. Time factor
c. Government policy
d. All of these
Q. Pricing methods are:
a. Standard cost method
b. Learning curve method
c. Marginal cost method
d. All of these
Q. Which is the feature of perfect competition?
a. Large number of buyers and sellers
b. Freedom of entry and exit
c. Normal profit in the long run
d. All of these
Q. Which is/are the salient features of monopolistic competition?
a. Large number of sellers
b. Normal profit
c. Free entry and exit of firms in industry
d. All of these
Q. Which are the characteristics of monopoly?
a. Single seller or producer
b. No close substitutes
c. Inelastic demand curve
d. All of these
Q. The causes of emergence of monopoly is/are:
a. Concentration of ownership of raw materials
b. State regulation
c. Public utility services
d. All of these
Q. Which are not the features of oligopoly?
a. Few sellers
b. Advertising and sales promotion
c. One firm
d. Conflicting attitudes of firms
Q. The monopoly can be controlled by:
a. Social boycott
b. Antimonopoly legislation
c. Public ownership
d. All of these
Q. The properties of indifference curves are:
a. Indifference curve slops downwards from left to right
b. Convex to the point of origin
c. Two indifference curve never cut each other
d. All of these
Q. Price discrimination occurs when variation in prices for a product in different markets does notreflect variation?
a. Costs
b. Price
c. Demand
d. All of these
Q. The competitive firm’s long run supply curve is the portion of it’s …………..curve lies aboveaverage total cost.
a. Marginal cost
b. Revenue cost
c. Fixed cost
d. All of these
Q. Whenever marginal cost is more than …………average total cost is falling:
a. Average total revenue
b. Average total cost
c. Average profit
d. All of these