NAT II Management Science Economy With Answers

NAT II Management Science Economy

Sr. # Questions Answers Choice
1 Welfare economics is the branch of economics which deals with: Positive issues Normative issues Micro issues Macro issues
2 A firm is charging a different price for each unit purchased by a consumer.This is called: First-degree price discrimination Second-degree price discrimination Third-degree price discrimination None of the given options
3 As compared to existing firms, a new firm entering in monopolist market has: High costs Low costs Equal costs None of the given options
4 To find the profit maximizing level of output, a firm finds the output level where: Price equals marginal cost Marginal revenue and average total cost Price equals marginal revenue None of the given options
5 The price elasticity of demand measures the responsiveness of quantity demanded to: Quantity demanded Quantity supplied Price Output
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