Managerial Economics (CBSE-NET (UGC) Management (Paper-II & Paper-III)): Questions 5 - 8 of 22

Get 1 year subscription: Access detailed explanations (illustrated with images and videos) to 193 questions. Access all new questions we will add tracking exam-pattern and syllabus changes. View Sample Explanation or View Features.

Rs. 150.00 or

Question number: 5

» Managerial Economics » Demand Analysis

Appeared in Year: 2014

MCQ▾

Question

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.

1000

b.

2000

c.

1414

d.

None of the above

Question number: 6

» Managerial Economics » Cost-Output Relations

MCQ▾

Question

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 irregular

b.

Remains constant

c.

Decreases

d.

Increases

Question number: 7

» Managerial Economics » Cost-Output Relations

Appeared in Year: 2014

MCQ▾

Question

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.

Statement I is false, but II is true.

c.

Statement I is true, but II is false.

d.

Statements I and II are false.

Question number: 8

» Managerial Economics » Demand Analysis

MCQ▾

Question

In case the demand elasticity under imperfect competition is unity, the marginal revenue will be (June 2014 Paper II)

Choices

Choice (4) Response

a.

More than utility, but less than infinity.

b.

Equal to unity.

c.

Equal to zero.

d.

Less than unity, but more than zero.

Sign In