Managerial Economics - Study Mode
[#506] If the demand for using the Noida express way is given by Q = 40,000 - 2,500P Where Q is the number of users (vehicles) and P is the amount of toll collected per unit who uses the express way. In light of this information which of the following is true?
Correct Answer
(C) At P = Rs. 4 and Q = 9,500, demand is price elastic
[#507] Match the following. List-I List-II a. Increasing cost industry 1. Negatively sloped long run supply curve b. Decreasing cost industry 2. Positively sloped long run supply curve c. Constant cost industry 3. Horizontal long run supply curve
Correct Answer
(D) a-2, b-1, c-3
[#508] The market share data for an industry, comprising five companies, is given below. Company Market Share (%) A 35 B 25 C 18 D 12 E 10 This industry's three-firms Herfindahl-Hirschman index shall be
Correct Answer
(B) 0.217
[#509] "Production" may be defined as an act of
Correct Answer
(A) Creating utility
[#510] Risk neutrality implies a
Correct Answer
(B) constant marginal utility of income