vu eco404 Final Term - Quiz No.7
vu eco404 Managerial Economics Quiz
This quiz belongs to book/course code vu eco404 Managerial Economics of vu organization. We have 9 quizzes available related to the book/course Managerial Economics. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
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Question 1: The quantity of a good or service that producers are willing and able to sell during a certain period of time is known as:
Demand
Supply
Market demand
Market supply
Question 2: The Isoquants have a shape of curvature for the inputs which are:
Perfect substitutes
Imperfect substitutes
Perfect compliments
Imperfect compliments
Question 3: If the proportionate change in output is less than the change in input, it shows:
Constant returns to scale
Increasing returns to scale
Decreasing returns to scale
Economies of scale
Question 4: Which of the following theories do not deal with the industry equilibrium?
Baumol static theory
Traditional theory of the firm
Behavioral theory of the firm
Sweezy theory
Question 6: Total revenue Total cost shows:
Value of the firm
Future value of the firm
Cost of the firm
Total profit of the firm
Question 7: In which of the following situation, firm can extract all the consumers' surplus?
First degree price discrimination
Second degree price discrimination
Third degree price discrimination
Perfect competition
Question 8: Income elasticity of demand measures the:
Percentage change in quantity demanded given a percentage change in the price of the product
Percentage change in quantity demanded given a percentage change in the income of consumers
Percentage change in quantity demanded of product A given a percentage change in the price of product B
Percentage change in quantity supplied given a percentage change in the price of the product
Question 9: Which of the following is TRUE for the law of supply?
There is inverse relationship between the price of a good and quantity demanded of that good
There is positive relationship between the price of a good and quantity demanded of that good
There is positive relationship between the price of a good and quantity supplied of that good
There is inverse relationship between income and quantity supplied of a good
Question 10: Forecasting analysis which is based on the data and equation is known as:
Qualitative forecasting
Quantitative forecasting
Regression analysis
Time series analysis
