Managerial Economics - Study Mode
[#531] The supply function, would shoot downward and to the right if the MC of all the firms in a perfectly competitive industry were to
Correct Answer
(B) Increase
[#532] Match the items of List-I with the items of List-II and find the correct combination. List-I (Market Structure) List-II (Nature of industry where prevalent) a. Perfect competition 1. Aluminium and passenger cars b. Oligopoly 2. Public utilities like Telephones and Electricity c. Monopoly 3. Manufacturing: T.V. Sets, Refrigerators d. Monopolistic competition 4. Farm Products: Grains
Correct Answer
(B) a-4, b-1, c-2, d-3
[#533] National income equilibrium is not at the level where
Correct Answer
(D) aggregate consumption is constant
[#534] Indifference curve is downward sloping from left to right since more X and less Y gives
Correct Answer
(D) equal satisfaction
[#535] The concept of indifference curve analysis was given scientific touch by
Correct Answer
(B) F. Y. Edgeworth in 1881