» Micro economics 2 solved MCQs

Question: The price at which the demand and supply are equal is called: A. Normal price B. Support price C. Equilibrium price D. Fair price Answer» c. Equilibrium price Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: The marker structure in which number of sellers is small withinterdependence is called A. Perfect competition B. Monopoly C. Monopolistic competition D. Oligopoly Answer» d. Oligopoly Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: Under monopolistic competition, the long run equilibrium of thefirm is established at the A. Minimum point of LAC B. Point where LAC is still falling C. Point where LAC is rising D. Minimum point of LMC Answer» b. Point where LAC is still falling Note: The above multiple-choice question is for all general and…

Question: Selling cost is insignificant under: A. Perfect competition B. Monopoly C. Monopolistic competition D. All of the above Answer» b. Monopoly Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: The rate of inflation in walking inflation is: A. between 3to 10 % B. below 3 % C. More than 10% D. More than 3% Answer» a. between 3to 10 % Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: If a perfectly competitive industry is in long-run equilibrium, which of the following ismost likely to be true A. some firms can be expected to leave the industry. B. individual firms are not operating at the minimum points on their average total cost curves. C. firms are earning a return on investment that is…

Question: The short-run supply curve of a firm in perfect competition is the segment of its: A. marginal cost curve that lies above the minimum average total cost B. marginal revenue curve that lies above the minimum average total cost C. marginal cost curve that lies above the minimum average variable cost D. marginal revenue…

Question: When a group of monopolistic competition attains the equilibrium,the firms in the group A. Charge different prices, but produce identical outputs B. Produce different output, but charge the same price C. Charge different price and produce different output D. None of the above Answer» b. Produce different output, but charge the same price Note:…

Question: Sacrifice ratio measures : A. Output lose B. profit lose C. Income lose D. None Answer» a. Output lose Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: Which one of the following is related to the commodity money A. Stones B. Cattles C. Grains D. All of the above Answer» d. All of the above Note: The above multiple-choice question is for all general and Competitive Exams in India.