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ECO404 Managerial Economics Online Quiz#03 Fall 2012

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Question # 1 Which of the following is a non-price determinant of supply?
Costs
Technology
Future expectations
All of the given options

Question # 2 Direct demand is also known as:
Consumer’s demand
Producer’s demand
Market demand
Derived demand

Question # 3 Public utilities are an example of:
Perfect competition
Natural monopoly
Monopolistic competition
Oligopoly

Question # 4 St = S0(1+g)t This equation is an example of ------------------- analysis?
Linear trend
Growth trend
Non linear trend
Qualitative

Question # 5 The technique of conducting survey interviews is the part of which of the following forecasting analysis?
Qualitative forecasting
Quantitative forecasting
Regression analysis
Time series analysis

Question # 6 Which of the following statements is TRUE?
Total cost = Marginal cost + Average cost
Total cost = Fixed costs + Variable costs
Total cost = Marginal cost + Variable cost
Total cost = Fixed costs + Average costs

Question # 7 When quantity demanded is more than quantity supplied then which of the following will occur?
Shortage
Surplus
Inflation
Equilibrium

Question # 8 Under perfect competition, profit is maximized at the point where:
Marginal cost = Marginal revenue
Marginal cost = Average revenue
Average cost = marginal revenue
Average cost = Average revenue

Question # 9 Many fast food restaurants are working in Pakistan. These are the example of:
Perfect competition
Monopoly
Monopolistic competition
Oligopoly

Question # 10 Which of the following is the slope of Isoquant?
Marginal rate of technical substitution
Marginal rate of substitution
Constant elasticity of substitution
None of the given options

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