Managerial Economics - Study Mode

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[#146] Match the following. List-I (Economist) List-II (Statement) a. Joel Dean 1. The purpose of managerial economics shows how economic analysis can be used in formulating business policies. b. Edwin 2. Managerial economics attempts to bridge the gap between Purely analytical problems and the problems of policies that management must face. c. Milton and Siegelman 3. Managerial economics consists of the use of economic models of thought to analyse business situations. d. Malcolm E. Mc. Nair and Richard 4. Managerial economics is the integration of economic theory with business practices for the purpose of facilitating decision making and forward planning by management.

(A) a-1, b-2, c-3, d-4

(B) a-4, b-3, c-2, d-1

(C) a-1, b-2, c-4, d-3

(D) a-1, b-4, c-2, d-3

Correct Answer

(C) a-1, b-2, c-4, d-3

[#147] Which of the following concepts are most closely associated with Alfred Marshall?

(A) Marginal utility theory

(B) Modern theory of wage

(C) Price mechanism under monopoly

(D) Interest theory

Correct Answer

(A) Marginal utility theory

[#148] When the units of factor increases, marginal revenue productivity of a factor

(A) Will fall or diminish

(B) Will have no change

(C) Will rise or increase

(D) None of the above

Correct Answer

(A) Will fall or diminish

[#149] External economies are witnessed in

(A) A falling demand curve

(B) A rising demand curve

(C) A falling supply curve

(D) A rising supply curve

Correct Answer

(C) A falling supply curve

[#150] In short-run, a firm would remain in business as long as which one of the following of costs is covered?

(A) Fixed costs

(B) Total costs

(C) Variable costs

(D) Constant costs

Correct Answer

(C) Variable costs