Managerial Economics - Study Mode
[#251] A concept which has importance in the equilibrium analysis and thus economic analysis is
Correct Answer
(D) MC
[#252] Thomas Malthus believed
Correct Answer
(C) Food supplies place a limit to the growth of population
[#253] For an economy which consist of single automobile maker and that in year 2014, 30,000 vehicles are produced with an average price of Rs. 5 lakh. For this economy what would be the increase in the nominal GDP for 2015 compared with 2014 with the 4% greater automobile production and 8% inflation.
Correct Answer
(D) 12.32%
[#254] In the long run, competitive equilibrium
Correct Answer
(A) every firm will earn only normal profit
[#255] Under perfect competition, the long run equilibrium of the firm is established at
Correct Answer
(A) minimum point of LAC