Managerial economics - 50 MCQs BBA 5th Sem
Answer - A. Maximising profits
Answer - B. Incremental
Answer - B. Price elasticity of demand
Answer - B. The cost of forgoing the next best alternative
Answer - C. Rent for the factory building
Answer - A. TR = Price × Quantity
Answer - B. The responsiveness of quantity demanded to changes in price
Answer - B. Decrease production
Answer - B. Monopoly
Answer - C. Income of consumers
Answer - B. $10
Answer - B. A new technology that benefits society
Answer - A. Skimming pricing
Answer - D. Oligopoly
Answer - A. Total revenue - Total cost
Answer - D. Money spent on a failed advertising campaign
Answer - A. PED = (Change in Quantity Demanded) / (Change in Price)
Answer - B. Minimising costs
Answer - D. Firms are price takers
Answer - C. Deciding to build a new factory
Answer - B. The satisfaction or benefit a consumer derives from a good or service
Answer - C. Product differentiation
Answer - B. The minimum wage should be increased to reduce poverty.
Answer - A. Economies of scale
Answer - C. As consumption of a good increases, the marginal utility decreases.
Answer - B. There is an inverse relationship between price and quantity demanded.
Answer - A. It is horizontal.
Answer - A. All else being equal or holding other factors constant
Answer - C. High fixed costs and decreasing average costs
Answer - C. To show the relationship between inputs and outputs
Answer - B. There are many buyers and sellers.
Answer - A. The point of maximum profit
Answer - D. To display the production capabilities of a country
Answer - B. Baking ovens
Answer - C. To assess whether a project or decision is worthwhile
Answer - A. U-shaped
Answer - D. The products selling price
Answer - C. The cost of raw materials
Answer - D. The owners foregone salary
Answer - B. Some inputs are fixed, while others are variable
Answer - B. Pollution from a factory affecting nearby residents
Answer - C. A single firm dominates the market
Answer - C. To represent the relationship between price and quantity demanded
Answer - C. To cover production costs and provide a desired profit margin
Answer - B. The firms long-run average cost is decreasing as production increases
Answer - D. Vertical slope
Answer - B. The firm produces at the point where marginal cost equals marginal revenue.
Answer - C. Determining the quantity of goods and services firms are willing to produce and sell
Answer - C. It will sell fewer units.
Answer - C. The additional satisfaction from consuming one more unit of a good
Question. What is/Introduction of Managerial Economics
Answer. Managerial economics is a stream of management studies which emphasises solving business problems and decision-making by applying the theories and principles of microeconomics and macroeconomics. It is a specialised stream dealing with the organisation's internal issues by using various economic theories.
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