MBA — Learn

MBA Business Economics MCQ Set 3

Review each question and reveal answers to strengthen your understanding

1 In a perfect market both buyers and sellers are
✅ Correct Answer: 3
2 So long as Average Revenue is falling, Marginal Revenue will be ______________ Average Revenue
✅ Correct Answer: 1
3 Price discrimination is also called as
✅ Correct Answer: 4
4 __________= R2-R1/Q2-Q1
✅ Correct Answer: 3
5 If the commodities are complimentary, cross elasticity will be
✅ Correct Answer: 1
6 In the oligopoly market there are
✅ Correct Answer: 2
7 The law of diminishing returns applies more to
✅ Correct Answer: 1
8 _________ provide guidelines to carry out ______
✅ Correct Answer: 2
9 In case of ______________ quantity demanded changes less than proportionate to changes in price
✅ Correct Answer: 4
10 ______ method measures elasticity between two points
✅ Correct Answer: 4
11 Target pricing is also called as
✅ Correct Answer: 2
12 The condition for the long run equilibrium of a perfectly competitive firm
✅ Correct Answer: 1
13 The monopoly can be controlled by:
✅ Correct Answer: 4
14 Where Marginal revenue is negative, TR will be _____
✅ Correct Answer: 2
15 _______ is the method of leadership pricing
✅ Correct Answer: 3
16 The properties of indifference curves are:
✅ Correct Answer: 4
17 The competitive firm’s long run supply curve is the portion of it’s ______________ curve lies above average total cost.
✅ Correct Answer: 1
18 The opportunity cost of a given activity is
✅ Correct Answer: 1
19 Marginal revenue is ______________ at the quantity that generate maximum total revenue and negative beyond that point.
✅ Correct Answer: 1
20 In business cycle concept, the period of "long wave" is of;
✅ Correct Answer: 2
21 Cinema Theater, telephone bills etc.. are following
✅ Correct Answer: 3
22 The factors used in the production
✅ Correct Answer: 2
23 Which is the feature of perfect competition?
✅ Correct Answer: 4
24 The concept of monopsony was invented by:
✅ Correct Answer: 4
25 Which is/are the salient features of monopolistic competition?
✅ Correct Answer: 4
26 A cost that has already been committed and cannot be recovered known as:
✅ Correct Answer: 1
27 The claim that, other things equal, the quantity supplied of a goods rises when the price of goods raises known as:
✅ Correct Answer: 2
28 In business cycle concept, the period (approximately) of "Kit chin cycle" is of:
✅ Correct Answer: 4
29 The demand curve of a firm in the case of perfect competition is:
✅ Correct Answer: 1
30 Which factors is/are influencing price policy?
✅ Correct Answer: 4
31 The no. of firms under oligopoly is
✅ Correct Answer: 4
32 Growth curve approach is used for forecasting demand of ______________ products
✅ Correct Answer: 1
33 A positive income elasticity may be
✅ Correct Answer: 4
34 The concept of Elasticity of Demand was introduced by
✅ Correct Answer: 1
35 When the quantity demanded falls due to a rise in price, it is called
✅ Correct Answer: 4
36 Determinants of demand includes
✅ Correct Answer: 4
37 Exceptional Demand Curve (Perverse demand curve)
✅ Correct Answer: 1
38 Purposes of long term Demand forecasting doesn’t includes;
✅ Correct Answer: 4
39 Which of the following method of pricing is popular in wholesale and retail trades
✅ Correct Answer: 3
40 _________ is an "objective assessment of the future course of demand"
✅ Correct Answer: 4
41 The change in demand due to change in price only, where other factors remaining constant, it is called ________
✅ Correct Answer: 4
42 In the above function, the letter T stands for
✅ Correct Answer: 4
43 __________ means relationship between demand and its various determinants expressed mathematically
✅ Correct Answer: 4
44 _______ in economics means demand backed up by enough money to pay for the goods demanded"
✅ Correct Answer: 4
45 In the case of ______________ a small change in price leads to very big change in quantity demanded
✅ Correct Answer: 4
46 Basic assumptions of law of demand does not include
✅ Correct Answer: 3
47 in the case of perfect inelasticity, the demand curve is
✅ Correct Answer: 1
48 Purposes of long term Demand forecasting includes
✅ Correct Answer: 4
49 Pricing is done on the basis of managerial decisions, not on the basis of cost, demand etc...
✅ Correct Answer: 2
50 The pricing of cup of tea or coffee, is an example of
✅ Correct Answer: 3
Back to All Quizzes