Managerial Economics - Study Mode
[#326] Which of the following persons is engaged in "secondary production"? 1. A bricklayer 2. An automobile assembly-line worker 3. An accountant 4. A cinema projectionist
Correct Answer
(B) 1 and 2 only
[#327] In long run competitive equilibrium
Correct Answer
(C) Every firm will earn only normal profit
[#328] The fixed cost of production of the firm is Rs. 20 crore and advertisement cost is Rs. 4 crore. The firm has the contribution margin, (P-AVC) as Rs. 100. In order to reach its target profit of Rs. 6 crore, the firm will target an output of
Correct Answer
(B) 30,00,000 units
[#329] A monopoly producer usually earns
Correct Answer
(A) Abnormal profits
[#330] The concept of monopsony (buyer's monopoly) was invented by
Correct Answer
(D) Mrs J. Robinson