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Question-1
The optimum point of production under perfect competition is ________________
(A)
Minimum AC
(B)
Minimum TR
(C)
Minimum MC
(D)
All of these
Question-2
A competitive firms its full capacity because of it being operates at the _________________
(A)
At the minimum point of LAC
(B)
At the maximum point of LAC
(C)
No where at LAC
(D)
None of these
Question-3
Under perfect competition, the AR and MR curve coincide and are ________________
(A)
Vertical
(B)
Horizontal
(C)
Curvilinear
(D)
Parabola
Question-4
The rightward shift in the supply of the industry with decreased market demand curve leads to _______________
(A)
Rise in price
(B)
Fall in price
(C)
Price remain same
(D)
None of these
Question-5
The customers are charged with _________________ price under monopoly than under perfect competition.
(A)
Less
(B)
Greater
(C)
Same output
(D)
None of these
Question-6
In short run __________________
(A)
No firms can enter in the industry
(B)
Only no firms can leave the industry
(C)
No entry no exit
(D)
None of these
Question-7
When an industry is in equilibrium, there would be a _________________
(A)
Tendency to expand
(B)
Tendency to contract
(C)
No tendency to either expand or contract
(D)
None of these
Question-8
Which is the equilibrium condition for perfect competition?
(A)
MC>MR
(B)
MC < MR
(C)
SMC=MR
(D)
None of these
Question-9
The rightward shift in the supply curve of the industry with unchanged market demand curve leads to ______________
(A)
Rise in price
(B)
Fall in price
(C)
Preice remains same
(D)
None of these
Question-10
Price =AR=MR is a condition of equilibrium under _______________ market situation.
(A)
Monopolistic competition
(B)
Monopoly
(C)
Perfect competition
(D)
Oligopoly
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Plus 2 Humanities
ICSE/ISC
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Cost and Revenue Analysis
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EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
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Measurement of National Income
- GOVERNMENT BUDGET
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