Top 250+ Solved Managerial Economics 1 MCQ Questions Answer
Q. Which of the following is not a variable input?
a. Raw material
b. Power
c. Equipment
d. None of these
Q. Which of the following is a short run law?
a. Law of constant return to scale
b. Law of increasing return to scale
c. Law of diminishing return
d. None of these
Q. The term “Economies” refers to
a. Product advantage
b. Cost advantage
c. Sales advantage
d. All of the above
Q. Who classified economies of scale into internal and external?
a. Robinson
b. Marshall
c. Edward west
d. Pigue
Q. Related to production function, MRTS stand for;
a. Marginal revenue and total sales
b. Minimum revenue from total sales
c. Marginal rate of total supply
d. Marginal rate of technical substitution
Q. Which of the following is not coming under imperfect competition?
a. Oligopoly
b. Duopoly
c. Monopoly
d. Monopolistic
Q. in economics ……..means ‘a state of rest ‘or ‘stability’
a. Depression
b. Equilibrium
c. Maturity
d. growth
Q. In perfect completion, a firm is a
a. Price maker
b. Price taker
c. Both of the above
d. None of these
Q. Which of the following is not a feature of monopolistic completion?
a. Large number of producers
b. Free entry and exit
c. More elastic demand
d. Price competition
Q. Product differentiation is an important feature of
a. perfect competition
b. monopolistic competition
c. monopoly
d. none of these
Q. ……… refers to the quantity of a good or service that producers are willing and able tosell during a certain period under a given set of conditions
a. supply
b. demand
c. price
d. production
Q. ………. for a product is a statement of the relation between the quantity supplied and allfactors affecting that quantity
a. market demand function
b. production function
c. market supply function
d. all of the above
Q. Which is/are determinants of Supply…….
a. price of the commodity
b. state of technology
c. cost of production
d. all the above