Managerial economics

Total income is distributed between profit and -------------------

Externalities are called as

What is the most important determinant of salaries?

• Average Revenue

• Marginal Revenue

• Total Revenue

• Sales Revenue

Two goods that are used jointly to provide satisfaction are called

• Inferior goods

• Normal goods

• Complementary goods

• Substitute goods

Forward planning goes hand in hand with

• decision making

• capital 

• stock

• sales

______________ refers to the total additional cost or benefits of implementing a managerial decision. 

• Explicit 

• Implicit 

• Incremental 

• PPC

_____________ is the forgone benefit that would have been derived by an option not chosen. To properly evaluate opportunity costs, the costs and benefits of every option available must be considered and weighed against the others.

• Marginal Cost

• Production cost

• Opportunity cost

Personal distribution refers to the distribution of ----------------income among the individuals

• Personal

• National

• Disposable

• None

Which one is not a property of isoquant

• Downward sloping

• Convex

• Negative slope

• Positive slope

Capitalism is an economic system where individuals take all the

main economic decisions.

• True

• False