Usually we measure output in:

• A) Percentage
• B) Physical units
• C) Rupees
• D) Monetary units

which of the following is used to calculate optimal number of plants:

• A) Optimal multi plant activity level / Optimal Production per plant
• B) None of the above
• C) Optimal Production per plant / Optimal multi plant activity level
• D) Optimal multi plant activity level - Optimal Production per plant

Percentage change in profit due to one unit change in sales is known as:

• A) Cost elasticity
• B) Economies of scale
• C) Degree of freedom
• D) Degree of operating leverage

Cost is usually measured in:

• A) Physical units
• B) Percentage
• C) Absolute term
• D) Monetary units

If the percentage change in profit is Rs. 400 and percentage change in sales is Rs. 100 then what will be the degree of operating leverage?

• A) 3
• B) 1
• C) 4
• D) 2

In centralized cartels, collusion is:

• A) Implicit
• B) Not possible
• C) Ambiguous
• D) Explicit

According to game theory, a strategy about “do to your opponent what he has just done to you” is referred as:

• A) Dominant strategy
• B) First mover advantage
• C) Tit-for-tat
• D) Nash equilibrium

Which of the following element/s includes in every game theory model?

• A) Players
• B) Payoffs
• C) Strategies
• D) All of the given options

According to game theory, First player may get advantage in which of the following games?

• A) Simultaneous games
• B) Non-repeated games
• C) Sequential games
• D) Repeated games

Which of the following model explains price rigidity concept?

• A) Stackelberg model
• B) Cournot oligopoly model
• C) Bertrand oligopoly model
• D) Sweezy oligopoly model

In a game theory approach, selecting the best possible outcome given the worst possible scenario is known as:

• A) Risky strategy
• B) Maximin strategy
• C) Worst strategy
• D) Minimax strategy

In Game theory approach,Game which is played over a fixed period of time is known as:

• A) Non-repeated game
• B) Infinitely repeated game
• C) Finitely repeated game
• D) Sequential game

Cournot oligopoly model was developed in:

• A) 1840
• B) 1838
• C) 1845
• D) 1830

Given the profit equation: \pi \, = \,12X\, + 9Y If we solve it for Y, we obtain:

• A) Y\, = \,\pi /9\, - \,4/3
• B) Y\, = \,\pi /7\, - \,7/10
• C) Y\, = \,\pi /7\, - \,10/10
• D) Y\, = \,\pi /10\, - \,4/3

Market structure including two sellers is known as:

• A) Triopoly
• B) Oligopoly
• C) Monopoly
• D) Duopoly

In a game theory, each decision maker makes choices without specific knowledge of competitors counter moves is referred as:

• A) Sequential – move game
• B) Infinitely repeated game
• C) Simultaneous – move game
• D) Finitely Repeated game

Which of the following oligopoly model failed to make price explicit?

• A) Sweezy model
• B) Bertrand oligopoly model
• C) Cournot oligopoly model
• D) Stackelberg model

In a game theory approach, a zero-sum game is about:

• A) Joint action is favored
• B) Potential for mutual gain
• C) Offsetting gains / Losses
• D) Potential for mutual loss

In price leadership models, collusion is:

• A) Implicit
• B) Not possible
• C) Explicit
• D) Ambiguous

Given the profit equation: \pi \, = \,10X\, + \,7Y If we solve it for X, we obtain:

• A) X\, = \,\pi /7\, - \,7/10Y
• B) X\, = \,\pi /10\, - \,10/10Y
• C) X\, = \,\pi /10\, - \,10/7Y
• D) X\, = \,\pi /10\, - \,7/10Y