AIMA Solved Assignments for GM03
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Subject Code: GM04
Subject Name: MANAGERIAL ECONOMICS
Component name: ASSIGNMENT 1
Question 1:- The scenario in which the firm may be able to vary the amount of labour, but cannot change the amount of capital?
a) Short Run scenario
b) Long Run scenario
c) Can take place in both short run and long run
d) Can`t Say
Question 2:- …………………………..curve is known as firm`s planning curve
a) Long run Marginal Cost curve
b) Long Rum Average Cost Curve
c) Short Run Marginal Cost curve
d) Short Run Average Cost curve
Question 3:- An indifference curve may be defined as the locus of points giving particular combination or bundle of goods which yield the ………………………utility or level of satisfaction to the consumer so that he is indifferent as to the particular combination he consumes
a) Same
b) Increasing
c) Decreasing
d) None of these
Question 4:- …………………………………..is economics applied to decision making.
a) Micro Economics
b) Macro Economics
c) Indian Economy
d) Managerial Economics
Question 5:- As per which utility approach utility in not measurable
a) Cardinal utility approach
b) Ordinal Utility approach
c) Both cardinal and ordinal Utility approach
d) None of these
Question 6:- Which of the following goods would come under exceptions to law of demand
a) Biscuits
b) Fresh Milk
c) Diamonds
d) Garments
Question 7:- Which of the following are not the reasons for economies of scale
a) Increasing returns to scale
b) Specialization in the use of labour and capital
c) Managerial Deficiencies Managerial Deficiencies
d) Lower cost of raising capital funds
Question 8:- If the MC is less than the ATC, then the ATC must be …………………………
a) Falling
b) Rising
c) No change
d) Can`t Say
Question 9:- Degree of responsiveness of quantity demanded of a commodity to change in its price is referred to as
a) Price Elasticity
b) Cross Elasticity
c) Income Elasticity
d) Advertisement Elasticity
Question 10:- Under short run analysis of TP, AP and MP, If MP > AP then AP is ………………………
a) Rising
b) Falling
c) Neutral
d) Can`t Say
Question 11:- The demand curve has…………………….slope as being consistent with Law of Demand.
a) Positive
b) Negative
c) Direct
d) Indirect
Question 12:- …………………….involves transformation of inputs such as capital, equipment, labour, and land into output – goods and services.
a) The process of cost calculation
b) Production Process
c) Pricing process
d) None of these
Question 13:- Increase in the total utility as a result of consumption of additional unit of commodity.
a) Average Utility
b) Marginal utility
c) Total Utility
d) None of these
Question 14:- State True or False – The law of diminishing returns states that when more and more units of a variable input are applied to a given quantity of fixed inputs, the total output may initially increase at an increasing rate and then at a constant rate but it will eventually
decreases
a) TRUE
b) FALSE
Question 15:- Law of diminishing returns is applied for
a) Identifying the rational and irrational stages of operations.
b) To know how much to produce?
c) To know what number of workers to apply to a given fixed inputs so that the output is maximum?
d) All of these
Question 16:- Which of the following measures effect the elasticity of demand?
a) Nature of commodity
b) Number of close substitutes
c) Proportion of Buyer`s Budget
d) All of the above
Question 17:- Want satisfying power of a commodity is known as…………………..
a) Demand
b) Supply
c) Utility
d) Equilibrium
Question 18:- ……………………………… is referred to as a mathematical expression of the relationship between quantity demanded of a commodity to the factors that determine the quantity demanded
a) Demand function
b) Cost Function
c) Production Function
d) Supply Function
Question 19:- Total fixed costs are the same at all levels of output, a graph of the total fixed cost curve is …………………
a) Increasing curve with positive slope
b) Decreasing curve with negative slope
c) Horizontal Line
d) Can`t Say
Question 20:- Which of the following are properties of Isoquant –
a) Isoquants have a negative slope
b) Isoquants are convex to the origin
c) Isoquants cannot intersect or be tangent to each other
d) All of these
SUBMIT ASSIGNMENT
Subject Code: GM04
Subject Name: MANAGERIAL ECONOMICS
Component name: ASSIGNMENT 2
Question 1:- ………………………………..model explains the stickiness of price in the market but not as tool for determination of price.
a) Duopoly model
b) Kinked demand curve model
c) Edgeworth model
d) Bertrand model
Question 2:- Under which market do you categorize the soap and detergent products from HUL?
a) Monopolistic Competition
b) Monopoly
c) Perfect Competition
d) Oligopoly
Question 3:- Duopoly model of Oligopoly is given by the famous economist named
a) Adam Smith
b) Cournot
c) P Sweezy
d) Ricardo
Question 4:- Which of the following are the determinants of market structure?
a) Freedom of entry and exit
b) Nature of the product-homogeneous, differentiated
c) Control over Price
d) All of these
Question 5:- Charging different price from different customers for the same product is know as price discrimination.
a) TRUE
b) FALSE
Question 6:- There is no unique supply curve in ………………………….market.
a) Perfect competitive
b) Monopoly
c) Monopolistic
d) Oligopoly
Question 7:- How is product differentiation further classified
a) Real and Fancied
b) True and untrue
c) Natural and artificial
d) None of these
Question 8:- Tool used to analyse the strategic behaviour that recognizes mutual interdependence and takes account of expected behaviour of others is…………………………..
a) Queuing theory
b) Game theory
c) Demand theory
d) Production theory
Question 9:- Which of the following are Price leadership models?
a) Dominant firm price leadership model
b) Low cost firm price leadership model
c) Barometric firm Price leadership model
d) All of these
Question 10:- Marris model of Managerial economics aims at …………………………..
a) Balanced rate of growth
b) Increasing rate of growth
c) Diminishing rate of growth
d) None of these
Question 11:- Which of the following market have firms as Price Taker?
a) Perfect competitive
b) Monopoly
c) Monopolistic
d) Oligopoly
Question 12:- Which of the following are the necessary conditions for Price discrimination to be possible
a) Different markets must be separable for a seller
b) Elasticity of demand must be different in different markets
c) There must be effective separation of sub markets so that no reselling can take place
d) All of the above
Question 13:- Which of the following may not be reason for breaking up of cartels?
a) Mistake in estimation of market demand and marginal cost
b) Slow process of cartel negotiation
c) Fear of Government interference
d) All of these
Question 14:- The theory of sales revenue maximization as the most important goal of managers is given by ……………………
a) Baumol
b) Marris
c) Cyert and march
d) Williamson
Question 15:- Even at loss, if a firm can cover its variable costs, it should continue to operate even though it’s losing money.
a) TRUE
b) FALSE
Question 16:- Monopolistic demand curve is ………………………..sloping demand curve.
a) Upward
b) Downward
c) Horizontal
d) No fixed shape
Question 17:- Cartel refers to group of firms acting together to limit output, raise price and increase economic profit.
a) TRUE
b) FALSE
Question 18:- In game theory each decision maker has available to him two or more choices called ………………………
a) Rules
b) Strategy
c) Pay off
d) None of these
Question 19:- Which of the following is /are the characteristics of monopolistic kind of market categorization?
a) Large number of Sellers
b) Product Differentiation
c) Perfect factor mobility
d) All of the above
Question 20:- ………………………………is a table that shows possibility for every possible action by each player given every possible action by the
other player.
a) Rules
b) Strategy
c) Pay off
d) None of these