Iibm - Managerial Economics.

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Managerial Economics

Q1) Economists have classified input as

a. Timeless

b. landless

c. labourless

d. all the above

Q2) ∑Pi=………where Pi is the probability of certain task.

a. Not defined

b. 1

c. 0

d. It will depend on the number of Pi values we are taking for summation.

Q3) Slope at x=2 for the given curve y=3×3+2x be

a. 26

b. 38

c. 36

d. 18

Q4) For a vertical demand curve the elasticity will be

a. 0

b. 1

c. Between 0 and 1

d. ∞

Q5) The difference between price and average variable cost is defined as

a. Loss contribution

b. Profit contribution

c. Expectations

d. Market contribution

Q6) For an industry with ‘n’ firms the total equilibrium o/p for a Cournot oligopoly with Q0 as o/p from perfect competitive market, is given by

a. Q0(n+1)/n

b. Q0n/(n+1)

c. (n+1)n/Q0

d. (n+1)/(nQ0)

Q7) Game theory was designed

a. To create situation where individual and organization have conflicting objectives for competitive growth.

b. To create situation where organization and organization have conflicting objectives

c. To evaluate the condition of the market

d. To evaluate situations where individual and organization have conflicting objectives.

Q8) The firms may be able to escape from ‘Prisoner’s Dilemma’ if the action is

a. Repetitive

b. Non repetitive

c. Sequential

d. No dependence on the type of action

Q9) Which is not the Property of Indifference curve

a. Convex to the origin

b. Have positive slope

c. Indicate lower level of satisfaction

d. Do not intersect nor are they tangent to one another

Q10) Standard deviation is a measure of

a. Sink of price

b. Rise of price

c. Slope of demand curve

d. Risk

Part Two:

Q1. Define ‘Arc...