Managerial Economics - Practice Test

(A) indifference curve analysis

(B) utility theory

(C) revealed preference theory

(D) consumption analysis

(B) utility theory

(A) Total costs and total revenue are equal

(B) Price and marginal revenue are equal

(C) Price exceeds marginal revenue

(D) Elasticity of demand for the product is unity

(B) Price and marginal revenue are equal

(A) increases with rise in price

(B) decreases with fall in price

(C) increases with fallin price

(D) has no affect of price change

(D) has no affect of price change

(A) Rationality

(B) Diminishing marginal utility of money

(C) Utility cardinally measurable

(D) Maximisation of satisfaction with limited money income

(B) Diminishing marginal utility of money

(A) To eliminate poverty

(B) The create material goods

(C) To satisfy people's wants

(D) To provide basic necessities

(C) To satisfy people's wants

Managerial Economics - Study Mode