Managerial Economics - Practice Test

(A) directly with price

(B) proportionately with price

(C) inversely with price

(D) independent of price

(C) inversely with price

(A) Marginal cost declines at a faster rate as compared to the average cost

(B) Marginal cost rises at a faster rate as compared to the average cost

(C) Marginal cost equals average cost where average cost is minimum

(D) Average cost equals marginal cost where marginal cost is minimum

(D) Average cost equals marginal cost where marginal cost is minimum

(A) negative

(B) zero

(C) positive

(D) proportionate

(A) negative

(A) Personal income - Direct taxes

(B) Consumption + Saving

(C) Both A and B

(D) None of the above

(C) Both A and B

(A) The firm with lowest costs

(B) The firm with the large profit

(C) The firm which makes only normal profit

(D) The firm which equates its marginal costs with marginal revenue

(C) The firm which makes only normal profit

Managerial Economics - Study Mode