Managerial Economics 1 Set 13

Bachelor of Business Administration (BBA)

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This set of Managerial Economics 1 Multiple Choice Questions & Answers (MCQs) focuses on Managerial Economics 1 Set 13

Q1 | Related to production function, MRTS stand for;
  • Marginal revenue and total sales
  • Minimum revenue from total sales
  • Marginal rate of total supply
  • Marginal rate of technical substitution
Answer: Marginal rate of technical substitution
Q2 | Which of the following is not coming under imperfect competition?
  • Oligopoly
  • Duopoly
  • Monopoly
  • Monopolistic
Answer: Monopoly
Q3 | in economics ……..means ‘a state of rest ‘or ‘stability’
  • Depression
  • Equilibrium
  • Maturity
  • growth
Answer: Equilibrium
Q4 | In perfect completion, a firm is a
  • Price maker
  • Price taker
  • Both of the above
  • None of these
Answer: Price taker
Q5 | Which of the following is not a feature of monopolistic completion?
  • Large number of producers
  • Free entry and exit
  • More elastic demand
  • Price competition
Answer: Price competition
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