Question 1
Both MPL and MPK are constant
MPL is increasing but MPK is constant
MPL is decreasing and MPK is constant
Both MPL and MPK are decreasing
Question 2
A firm can always trade three units of labour for one unit of capital and still keep output constant. The production technology for this firm can most suitably represented by
Cobb-Douglas production function
Leontief production function
Linear production function
None
Question 3
A firm finds that it requires exactly two full-time workers to operate each piece of machinery in the factory. The production technology for this firm can most suitably represented by
Cobb-Douglas production function
Leontief production function
Linear production function
None
16 more questions in this paper
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More on the Managerial Economics Quiz 1 7 Jul 2024 paper
The IIT Madras BS Managerial Economics (Managerial Economics) Quiz 1 paper sat on 7 Jul 2024, in the May 2024 term: 19 questions for 25 marks in 120 minutes. The first 3 questions are below. Sign in with Google — it is free — to see the whole paper with its answers and explanations, in learning mode or as a timed mock test.
| Feature | Managerial Economics Quiz 1 7 Jul 2024 at a glance |
|---|---|
| Term | May 2024 term |
| Subject | Managerial Economics |
| Course code | BSMS3033 |
| Questions | 19 |
| Marks | 25 |
| Duration | 120 min |
| MCQ | 13 |
| Numerical | 6 |
| Official paper | IIT M DEGREE AN EXAM QDB2 7 July 2024 |
| Negative marking | No negative marking. |
| Updated |