All India Management Association (AIMA) 2007 M.B.A Marketing Management Business Economics – I - Question Paper
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(a) Rs.90,000
(b) Rs.30,000
(c) Rs.10,000
(d) Rs.20,000
(e) Rs.40,000. (2marks)
12.The demand schedule of a perishable good is provided below:
Price (Rs.) volume demanded (Units)
8 40
10 60
What is the arc price elasticity of demand?
(a) 0.72
(b) 0.62
(c) 0.52
(d) 0.42
(e) 1.80. (2marks)
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13.Demand and supply functions for a product are provided as follows:
Qd = 10,000 – 4P
QS = 3,000 + 6P.
If the government imposes a sales tax of Rs.200 per unit, the price of the product per unit increases by
(a) Rs.100
(b) Rs.110
(c) Rs.120
(d) Rs.130
(e) Rs.140. (2marks)
14.Which of the subsequent is/are actual about Consumer surplus?
I. Consumer surplus is helpful to the government in fixing taxes.
II. Consumer surplus helps the monopolists in fixing price of a commodity.
III. In case of imported products, which are cheaper than domestic products, the consumer surplus is
less.
IV. A higher consumer surplus shows that the economy is stable.
(a) Only (I) above
(b) Only (II) above
(c) Only (III) above
(d) Both (I) and (III) above
(e) (I), (II) and (IV) above. (1 mark)
15.The income effect of reduce in price of a good is the extent to which
(a) The purchasing power of the consumer has reduced
(b) The incomes of the suppliers increases
(c) The real income of the consumer increases
(d) The consumers of substitute goods are better off
(e) The demand for the product reduces. (1 mark)
16.A consumer with a provided income will find maximum utility when
(a) The marginal utility of every commodity is equal
(b) The ratio of marginal utility of every commodity is identical to its price ratio
(c) The utility derived for the 1st unit of every commodity is equal
(d) The marginal utility of every commodity is in the identical ratio to its cost of production
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