Question:

One difference between perfect competition and monopolistic competition is that:

A.

In perfect competition, the products are slightly differentiated between firms

B.

There are a larger number of firms in monopolistic competition

C.

There are a smaller number of firms in perfectly competitive industries

D.

Firms in monopolistic competition have some degree of market power

Answer» d. Firms in monopolistic competition have some degree of market power

Question:

In monopoly, if p = Rs. 10 at the point on the demand curve where η = 0.5, MR is:

A.

5

B.

0

C.

−1

D.

−10

Answer» d. −10

Question:

In linear programming, _____ expresses the necessity that the levels of production of thecommodity cannot be negative, that is, it should be either positive or zero.

A.

the technical constraints

B.

objective functions

C.

non negativity constrains

D.

primal

Answer» c. non negativity constrains

Question:

When we optimise a function, with the first order derivative equal to ___ and the secondorder derivative ___ the function is at a relative minimum.

A.

0, 0

B.

0, < 0

C.

0, > 0

D.

> 0, 0

Answer» c. 0, > 0