Business Economics [NTA-NET (UGC-NET) Commerce (08)]: Questions 5 - 7 of 519

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Question 5

Appeared in Year: 2014

Question MCQ▾

If the EOQ for an item of inventory in a firm is 1000 units, the estimated demand for the term next year gets doubled, what shall be the revised EOQ next year, all other relevant costs remaining unchanged? (June Paper II)

Choices

Choice (4)Response

a.

1414

b.

1000

c.

2000

d.

Question does not provide sufficient data or is vague

Edit

Question 6

Question MCQ▾

Law of Diminishing Return applies when the gaps among the successive ‘multiple-level of output’ isoquants. (June 2014 Paper II)

Choices

Choice (4)Response

a.

Remains constant

b.

Remains irregular

c.

Increases

d.

Decreases

Edit

Question 7

Appeared in Year: 2014

Question MCQ▾

From the following two statements, choose the correct answer:

Statement I: A person can have one utility curve for one situation and a quite different one for the next situation.

Statement II: Business executive with a linear utility curve can effectively use the expected monetary value as their decision criterion. (June paper II)

Choices

Choice (4)Response

a.

Statements I and II are true.

b.

Statements I and II are false.

c.

Statement I is true, but II is false.

d.

Statement I is false, but II is true.

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