Managerial Economics-Demand Analysis (CBSE-NET (UGC) Management (Paper-II & Paper-III)): Questions 5 - 8 of 12

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Question number: 5

» Managerial Economics » Demand Analysis

Appeared in Year: 2015

MCQ▾

Question

Which one of the following assumptions is not related to consumer behavior based on the cardinal utility approach? (December)

Choices

Choice (4) Response

a.

Maximization of satisfaction with limited money income

b.

Diminishing marginal utility of money

c.

Rationality

d.

Utility cardinally measurable

Question number: 6

» Managerial Economics » Demand Analysis

Appeared in Year: 2014

MCQ▾

Question

In case a decrease in price of a commodity results in an increase in its demand on a negatively sloping demand curve, it is called (June)

Choices

Choice (4) Response

a.

An increase in demand

b.

An increase in quantity demanded

c.

Law of demand

d.

None of the above

Question number: 7

» Managerial Economics » Demand Analysis

Appeared in Year: 2015

MCQ▾

Question

Statement-I: A rectangular hyperbola shaped demand curve has uniform slopes on all its points.

Statement-II: if the price elasticity is equal to unity, the marginal revenue corresponds to zero

Choices

Choice (4) Response

a.

Statement- I is correct, statement- II is incorrect

b.

The statements I and statement II are correct

c.

The statements I and statement II are incorrect

d.

Statement-I is incorrect, statement-II is correct

Question number: 8

» Managerial Economics » Demand Analysis

Appeared in Year: 2012

MCQ▾

Question

Willingness to pay minus actual payment is called (December)

Choices

Choice (4) Response

a.

Consumer’s surplus

b.

Producer’s surplus

c.

Utility Cost

d.

Supplier’s surplus

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