This quiz works best with JavaScript enabled. Home > Economics > Managerial Economics > Managerial Economics – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Managerial Economics Quiz 9 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Managerial Economics is of great help in price analysis, production analysis, capital budgeting, risk analysis, and determination of demand. A) True. B) False. Show Answer Correct Answer: A) True. 2. Kalecki has given importance to ..... A) Socialist. B) Capitalist. C) Entrepreneur. D) Banker. Show Answer Correct Answer: B) Capitalist. 3. Managerial economics doesn't provide an opportunity to evaluate each alternative in terms of its costs and revenue. A) True. B) False. Show Answer Correct Answer: B) False. 4. The amount that would have to be invested today at the prevailing interest rate to generate the given future value: A) Present Value of present value. B) Present Value of a single future value. C) Present Value of a future value. D) None of above. Show Answer Correct Answer: B) Present Value of a single future value. 5. A firm's production function is given by Q = KL. The wage rate of labor is w = 10 and the rental rate of capital is r = 20. The firm wants to produce 1, 800 units of output in the most efficient way possible. How much does the firm spend? A) 2, 000. B) 1.300. C) 1, 200. D) 1, 100. Show Answer Correct Answer: C) 1, 200. 6. It refers to any activity involved in efforts aimed at earning money and spending this money to satisfy our wants. A) Managerial Economics. B) Economics. C) Anthropology. D) Social Science. Show Answer Correct Answer: B) Economics. 7. To say that turnips are inferior goods means that the income elasticity A) Is definitely greater than 1. B) Is negative. C) Is positive but could be greater than or less then (or equal to) 1. D) Is definitely between 0 and 1. Show Answer Correct Answer: A) Is definitely greater than 1. 8. Immediately following a price increase, consumers may not be able to alter their consumption patterns, making demand inelastic. A) True. B) False. Show Answer Correct Answer: A) True. 9. Perishable goods have a limited shelf life A) True. B) False. Show Answer Correct Answer: A) True. 10. A scene where Elloisa the doll is open for bidding. What type of rivalry is this? A) Producer-Producer. B) Nagbebenta ng Accountant student sa UST. C) Consumer-Consumer. D) Consumer-Producer. Show Answer Correct Answer: C) Consumer-Consumer. 11. What are substitutes? A) A good for which an increase in income cause consumers to demand less of the goods, all other factors held constant. B) A good which can used in the place of other. C) A good which are used in conjunction with each other. D) A good for which an increase in the income cause consumer to demand more of the goods, all other factors held constant. Show Answer Correct Answer: B) A good which can used in the place of other. 12. Managerial Economics is concerned with the application of economic principles and methodologies to the decision-making process within the firm or organization. A) True. B) False. Show Answer Correct Answer: A) True. 13. The difference between the income earned and the expenses incurred by a business during a specific period of time is called ..... A) Sales. B) Profit. C) Expenses. D) Costs. Show Answer Correct Answer: B) Profit. 14. Company A) Micro. B) Macro. Show Answer Correct Answer: A) Micro. 15. According to Mansfield, Managerial Economics is concerned with the application of economic concepts and economics to the problem of formulating rational decision making. A) True. B) False. Show Answer Correct Answer: A) True. 16. What form of economics is operator's economics? A) Micro target. B) Overall goal. C) Both are correct. D) Both are wrong. Show Answer Correct Answer: A) Micro target. 17. In which type of business organization, you have the public and private ltd. companies? A) Sole trader. B) Partnership. C) Joint stock. D) None of above. Show Answer Correct Answer: C) Joint stock. 18. Which of the following is not a function of managerial economist? A) Conducting market research. B) Analyzing economic data. C) Developing pricing strategies. D) Providing legal advice. Show Answer Correct Answer: D) Providing legal advice. 19. Macroeconomics is the branch of economics that studies the relationship among broad economic aggregates like national income, national output, money supply, bank deposits, total volumes of savings, investment, consumption expenditure, general price level of commodities, government spending, inflation, recession, employment, and money supply. A) True. B) False. Show Answer Correct Answer: A) True. 20. Products that are very similar in physical composition as well as quality and the only real difference between various manufacturer's product is price examples are gasoline and cement. A) Homogeneous Products. B) Heterogeneous Products. C) Industrial Products. D) Consumer Products. Show Answer Correct Answer: A) Homogeneous Products. ← PreviousNext →Related QuizzesEconomics QuizzesManagerial Economics Quiz 1Managerial Economics Quiz 2Managerial Economics Quiz 3Managerial Economics Quiz 4Managerial Economics Quiz 5Managerial Economics Quiz 6Managerial Economics Quiz 7Managerial Economics Quiz 8Managerial Economics Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books