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Managerial Economics
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Q321

When with a change in price the total outlay on a commodity remains constant, it is a case of

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Q322

Which of the following is an implicit cost of production?

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Q323

Economies of Scale means

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Q324

A profit-maximising monopolist in two separate markets will

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Q325

For a closed economy having no foreign trade which one of the following is correct?

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Q326

A centralised cartel

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Q327

Law of equi-marginal utility is also known as

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Q328

Which one of the following is not a determinant of demand?

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Q329

Price elasticity of demand provides

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Q330

Calculate the advertising elasticity of sales if 'A' denotes advertising expenditure and 'S' denotes sales
S₁ = Rs. 40,000 A₁ = Rs. 200
S₁ = Rs. 50,000 A₁ = Rs. 190

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Q331

Income elasticity is computed by the formula

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Q332

In case a decrease in price of a commodity results in an increase in its demand on a negatively sloping demand curve, it is called

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Q333

On a less than perfectly elastic demand curve, the MR for a given price and output is equal to price multiplied by

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Q334

When AR is constant, MR is

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Q335

Any straight line supply curve which cuts the X-axis will have

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Q336

The LAC curve

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Q337

In conditions of pure competition, in which the demand for a firm's product is infinitely elastic, the firm's average revenue curve will be

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Q338

Average fixed cost

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Q339

A demand curve is a boundary concept because it shows

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Q340

Match the following.

List-I (Economist)	List-II (Statement)
a. Robinson	1. The elasticity of demand at any price or at any output is the proportional change of amount purchased in response to a small change in price divided by the proportional change in price.
b. Boulding	2. The elasticity of demand may be defined as the percentage change in quantity demanded which would result from 1% change in price.
c. Cairn cross	3. The elasticity of demand for a commodity is the rate at which the quantity bought changes as the price changes.
d. Marshall	4. The elasticity for demand in a market is great or small according as the amount of demand increases much or little for a given fall in price and diminishes much or little for a given rise in price.

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