1. Equilibrium of monopolist will never lie below the middle point of the
average revenue curve because below the middle point –
a) Elasticity of demand is less than one, b) Marginal revenue is negative, c) Both a&b d) Market laws cease to operate.

Marginal utility approach was finalized by –
a) AC Pigou,
b) Alfred Marshall, c) J R Hicks, d) J S Mill.

3.Cartel system –
a) Leads to a monopoly situation,
b) is a kind of pure oligopoly, c) It is banned in the US, d) all of the above.

4.Revealed preference theory was introduced by –
a) Marshall,
b) Samuelson, c) Robinson, d) Taylor.

6. Which of the following is one of the basis for the indifference curve
analysis?
a) Independent utility, b) Ordinal utility, c) Cardinal utility, d) Diminishing utility.

5. Economists who developed the Indifference Curve Analysis are –
a) Hicks and Allen,
b) Hicks and Marshall, c) Samuelson and Robinson, d) Hicks and Robinson.

7.All money costs can be regarded as –
a) Social costs,
b) Implicit costs, c) Explicit costs, d) Real costs.

8. Price discrimination will not be a good approach for –
a) Railway company,
b) Electric supply company, c) FMCG company, d) Mobile company.

9. Which one is not the stage of product life cycle?
a) introduction,
b) Increase, c) Decline, d) Saturation.

10. LAC curve is –
a) U shaped and less pronounced,
b) U shaped and more pronounced, c) U shaped only, d) Intersecting SAC curve.

1. Good marketing is no accident, but a result of careful planning and .
A.execution
B.selling C.strategies D.research

2. Marketing management is .

3. Chimney Sweeps employs people to clean fireplaces and chimneys in homes and apartments. The firm is primarily the marketer of which one of the following?
A.An image
B.A service C.A good D.An idea

4. Marketers often use the term to cover various groupings of customers.
A.People
B.buying power C. Demographic segment D.Market

5. The concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization’s products.
A.Production
B.selling C.marketing D.Holistic marketing

8. If actual performance exceeds the expected performance of the product, Then customer is
A.Satisfied
B.Dissatisfied C.Delighted D.Neutra

7. The buying process starts when the buyer recognizes a .
A.Product
B.an advertisement for the product C.a salesperson from a previous visit D.problem or need

6. .Which of the following would be the best illustration of a subculture?
A.A religion.
B.A group of close friends. C.Your university. D.Your occupation.

9. Bread and milk are which kind of products?
A.Specialty Products
B.Convenience products C.Shopping products D.Unsought products