Managerial Economics - Practice Test

(A) Independent utility

(B) Ordinal utility

(C) Cardinal utility

(D) Constant marginal utility of money

(B) Ordinal utility

(A) Utility could be the cause of value

(B) Utility is related to demand

(C) Utility is related to supply

(D) Utility could not be the cause of value

(B) Utility is related to demand

(A) Point method

(B) Percentage method

(C) Arc method

(D) None of these

(C) Arc method

(A) Equal to AFC

(B) Below the LAC

(C) Above the LAC

(D) Equal to LAC

(D) Equal to LAC

(A) responsiveness of sales to change in advertisement expenditure

(B) responsiveness of demand to change in supply of goods

(C) change in price due to change in demand

(D) change in demand due to change in tastes of consume

(A) responsiveness of sales to change in advertisement expenditure

Managerial Economics - Study Mode