Managerial Economics - Study Mode

[#306] Price control is one of the monopoly regulations which is most advantageous for
Correct Answer

(B) The consumer

[#307] Match the following: a. Principles of Economics 1. Gunnar Myrdal b. Diamond water paradox 2. J. K. Galbraith c. Value and Capital 3. Alfred Marshall d. Asian Drama 4. J. R. Hicks e. Language of Economics 5. Adam Smith
Correct Answer

(D) a-3, b-5, c-4, d-1, e-2

[#308] A straight line, downward-sloping demand curve implies that, as price falls, the elasticity of demand
Correct Answer

(B) Decreases

[#309] A stable equilibrium position is one in which
Correct Answer

(C) Any departure from the equilibrium position calls into play forces which tend to restore that position

[#310] The price of a commodity is Rs. 20 and the quantity demanded at this price is 200 units. If the price falls to Rs. 16 and the quantity demanded increases to 280 units, calculate the price (arc) elasticity
Correct Answer

(B) 1.5