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Managerial economics - MCQ - UNIT 1
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KARPAGAM ACADEMY OF HIGHER EDUCATIONI MBA - FIRST SEMESTER
MANAGERIAL ECONOMICS - 21MBAP103
UNIT - III
Multiple Choice Questions ( Each Questions carries ONE Mark)
S.N QUESTION
o S OPTION 1 OPTION 2 OPTION 3 OPTION 4 ANSWERS
1 Buyers’ The supply The demand The demand Commodities The supply
market exceeds the exceeds the and supply are available exceeds the
denotes the demand supply are at demand
place where well balanced competitive
Rates
2 Determinant Price Average cost Both average The output Both average
of the cost and price level cost and price
maximum
profit for a
firm is
3 Sellers’ Commodities Demand Supply Supply and Demand
market are available exceeds exceeds demand are exceeds
denotes a at supply demand evenly supply
situation competitive balanced.
Where rates
4 Equilibrium Maximizes Equates Maximizes Equates Equates
price is that producers consumers consumer’s supply and supply and
price which profit and satisfaction demand demand
producers
surplus
5 For price Same Different Constant Zero Different
discriminatio
n to be
successful,
the elasticity
of demand
for the
product in
the two
markets
should be
6 Price Monopolistic Non- Monopoly Collusive Collusive
leadership is competition collusive oligopoly oligopoly
a form of oligopoly
, 7 Maximum Perfect Oligopoly Simple Price Price
exploitation competition monopoly discrimination discrimination
of consumer
takes place
when there is
8 A firm profit P = TOTAL P=Total P= TR-TC P= TC-MC P =TR-TC
is sales
9 The Monopolistic Perfectly Condition of Oligopolistic Condition of
distinction competition competitive pure market pure oligopoly
of pricing by market oligopoly structure
a firm and
by an
industry is
not possible
Under
10 First degree Entire Entire A part of A part of Entire
price consumer consumer consumer consumer consumer
discriminatio surplus goes surplus goes surplus goes surplus goes surplus goes
n means to consumer to producer to producer to consumer to consumer
11 Duopoly is a There is only There are More than Two Two
marketing one producer few two producers producers of a producers of
situation of a given producers given product a given
when product product
12 The term Monopolistic Oligopoly Duopoly Perfect Monopolistic
'group competition competition competition
equilibrium'
is related to
13 A firm's Is always Can be Always Positive at Positive at
marginal positive positive negative point at which point at
revenue the total which the
revenue is total revenue
maximum is maximum
14 Monopolistic Lower price Price equal Output at the Higher price Higher price
competition and higher to marginal minimum and lower and lower
in output cost average cost output output
comparison
to perfect
competition
ensures—
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