Managerial Economics.m

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Demand is determined by
When a firm’s average revenue is equal to its average cost, it gets … .
Managerial economics generally refers to the integration of economic theory with business
Given the price, if the cost of production increases because of higher price of raw materials, the supply
The cost recorded in the books of accounts are considered as
A Joint Stock Company is managed by the Board of Directors elected by … .
Under … , price is determined by the interaction of total demand and total supply in the market.
Under perfect competition, price is determined by the interaction of total demand and … .
The out of pocket costs are … .
The short run Average Cost curve is … shaped
Managerial Economics is basically a blend of … .
Micro Economics is the study of the … .
This economic environment is nothing but the … elements.
If a manager wants to … the price of the product due to increase in cost of production, he will analyze the price elasticity of demand for that product.
… and benefit analysis helps the manager in decision making.
Study of … helps Manager in taking care of social responsibilities of the organization.
If there are no sacrifices, there is no … .
Goods produced on small scale have
Oligopoly is a type of … market. A … exists in the industry
The management of the … form of business organization is totalitarian in nature.
The demand curve has a … slope.
The higher the interest rate:
If the interest rate is 10% and cash flows are $1,000 at the end of year one and $2,000 at the end of year two, then the present value of these cash flows is
Accounting profits are:
Economic profits are:
Which of the following is an implicit cost to a firm that produces a good or service?
Which of the following is an implicit cost of going to college?
Which of the following signals to the owners of scarce resources are the best uses of those resources?
The primary inducement for new firms to enter an industry is:
As more firms enter an industry
Scarce resources are ultimately allocated toward the production of goods most wanted by society because:
The opportunity cost of receiving ten dollars in the future as opposed to getting that ten dollars today is:
If the interest rate is 5%, what is the present value of ten dollars received one year from now?
If you put $1,000 in a savings account at an interest rate of 10%, how much money will you have in one year?
If the interest rate is five percent, the present value of $200 received at the end of five years is:
When dealing with present value, a higher interest rate:
A farm must decide whether or not to purchase a new tractor. The tractor will reduce costs by $2,000 in the first year, $2,500 in the second and $3,000 in the third and final year of usefulness. The tractor costs $9,000 today, while the above cost savings will be realized at the end of each year. If the interest rate is seven percent, what is the net present value of purchasing the tractor?
A firm will have constant profits of $100,000 per year for the next four years and the interest rate is six percent. Assuming these profits are realized at the end of each year, what is the present value these future profits?
A firm will maximize the present value of future profits by maximizing current profits when the:
Suppose the interest rate is five percent, the expected growth rate of the firm is two percent, and the firm is expected to continue forever. If current profits are $1,000, what is the value of the firm?
To maximize profits, a firm should continue to increase production of a good until:
The additional benefits that arise by using an additional unit of the managerial control variable is defined as the:
The additional cost incurred by using an additional unit of the managerial control variable is defined as the:
The change in net benefits that arise from a one unit change in quantity is the:
The difference between marginal benefits and marginal costs are the:
In order to maximize net benefits, firms should produce where:
If a producer offers a price that is in excess of a consumer’s valuation of the good, the consumer:
Negotiations between the buyer and seller of a new house is an example of:
The behavior of bidders in an auction is an example of:
Under producer-producer rivalry, individual firms want to sell the product at the maximum price consumers will pay, but are unable to do this because of:
Economics