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» Micro economics 2 solved MCQs

The marker structure which have large number of sellers selling differentiatedproduct is called

Question:

The marker structure which have large number of sellers selling differentiatedproduct is called

A.

Perfect competition

B.

Monopoly

C.

Monopolistic competition

D.

Oligopoly

Answer» c. Monopolistic competition

Note: The above multiple-choice question is for all general and Competitive Exams in India

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» Micro economics 2 solved MCQs

If a firm sells its output on a market that is characterized by a single seller and manybuyers of a homogeneous product for which there are no close substitutes and barriers to long-run resource mobility, then the firm is

Question:

If a firm sells its output on a market that is characterized by a single seller and manybuyers of a homogeneous product for which there are no close substitutes and barriers to long-run resource mobility, then the firm is

A.

a monopolist

B.

an oligopolist

C.

a perfect competitor

D.

a monopolistic competitor

Answer» a. a monopolist

Note: The above multiple-choice question is for all general and Competitive Exams in India

If a firm sells its output on a market that is characterized by a single seller and manybuyers of a homogeneous product for which there are no close substitutes and barriers to long-run resource mobility, then the firm is Read More »

» Micro economics 2 solved MCQs

In the long run, which of the following is applicable to a firm undermonopolistic competition

Question:

In the long run, which of the following is applicable to a firm undermonopolistic competition

A.

AR = AC

B.

AR > AC

C.

AR < AC

D.

AR = MC

Answer» a. AR = AC

Note: The above multiple-choice question is for all general and Competitive Exams in India

In the long run, which of the following is applicable to a firm undermonopolistic competition Read More »

» Micro economics 2 solved MCQs

A monopoly is most likely to emerge and be sustained when:

Question:

A monopoly is most likely to emerge and be sustained when:

A.

output demand is relatively elastic.

B.

firms have u-shaped, average-total-cost curves.

C.

fixed capital costs are small relative to total costs.

D.

economies of scale are large relative to market demand.

Answer» d. economies of scale are large relative to market demand.

Note: The above multiple-choice question is for all general and Competitive Exams in India

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» Micro economics 2 solved MCQs

Under perfect market conditions the individual firm in the industry has control over theprice of the product.

Question:

Under perfect market conditions the individual firm in the industry has control over theprice of the product.

A.

Some

B.

Full

C.

No

D.

None of the above

Answer» c. No

Note: The above multiple-choice question is for all general and Competitive Exams in India

Under perfect market conditions the individual firm in the industry has control over theprice of the product. Read More »

» Micro economics 2 solved MCQs

The large number of firms producing the same commodity ensure that theindividual firm has no control over

Question:

The large number of firms producing the same commodity ensure that theindividual firm has no control over

A.

Price of the commodity

B.

The quantity of the commodity

C.

Both of the above

D.

None of the above

Answer» c. Both of the above

Note: The above multiple-choice question is for all general and Competitive Exams in India

The large number of firms producing the same commodity ensure that theindividual firm has no control over Read More »

» Micro economics 2 solved MCQs