MEFA ONLINE EXAM BITS
A variable cost is a cost that ? A. varies per unit at every level of activity B. occurs at various times during the year C. varies in total in proportion to changes in the level of activity D. may not be incurred, depending on management's discretion ANSWER A Demand is determined by? A.Price of the product B.Relative prices of other goods C.Tastes and habits D.All of the above ANSWER D Managerial economics generally refers to the integration of economic theory with business? A.Ethics B.Management C.Practice D.All of the above ANSWER C Given the price, if the cost of production increases because of higher price of raw materials, the supply? A.Decreases B.Increases C.Remains same D.Any of the above ANSWER A The cost recorded in the books of accounts are considered as? A.Total cost B.Marginal cost C.Average cost D.Explicit cost ANSWER D A Joint Stock Company is managed by the Board of Directors ...