Managerial Economics Multiple Choice Questions and Answers

11. A Joint Stock Company is managed by the Board of Directors elected by

1. Top management
2. Shareholders
3. Employees of company
4. None of the above

12. The cost recorded in the books of accounts are considered as

1. Total cost
2. Marginal cost
3. Average cost
4. Explicit cost

13. Under perfect competition, price is determined by the interaction of total demand and ..........

1. Total supply
2. Total cost
3. Total utility
4. Total production

14. The demand curve has a ............. slope

1. Undefined
2. Zero c
3. Negative
4. Positive

15. The short run Average Cost curve is ............shaped

1. V
2. U
3. L
4. Any of the above