1. Write any five characteristics of Managerial Economics? 2. Discuss the importance of studying managerial economics for a manager? 3. What is meant by 'Opportunity cost? Explain the concept of Time Perspective in economics. 4. What is Market demand? What do you mean by extension of demand? 5. Write two cases where of demand curve slopes upward. 6. What is perfectly inelastic demand? What is perfectly elastic demand? 7. Discuss the significance of the price elasticity of demand? 8. Why full cost pricing is most suitable pricing strategy? 9. What are the factors that affect cost at micro level? What are economies of scale? 10. What is price? target pricing? marginal cost pricing? penetration price strategy