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Question-1
The leftward shift in the supply curve of the industry with increased market demand curve leads to __________________
(A)
Rise in price
(B)
Fall in price
(C)
Price remain same
(D)
None of these
Question-2
Under equilibrium situation, there would be a ____________________.
(A)
Tendency to change price
(B)
Tendency to change quantity supplied
(C)
No tendency to change either price or quantity
(D)
All of these
Question-3
When SMC curve cuts minimum point of SAC, it is known as __________________
(A)
Break down point
(B)
Break even point
(C)
Shut down point
(D)
None of these
Question-4
Price =AR=MR is a condition of equilibrium under _______________ market situation.
(A)
Monopolistic competition
(B)
Monopoly
(C)
Perfect competition
(D)
Oligopoly
Question-5
Under perfect competition it is possible that the firms attains ______________________
(A)
Only normal profit
(B)
Only losses
(C)
Only super normal profits
(D)
None of these
Question-6
________________ able to take the full advantages of economies of scale.
(A)
Monopolist
(B)
Perfect competitior
(C)
Oligopolies
(D)
None of these
Question-7
The entry of new firms in a perfect competition in a long run would continue _______________
(A)
Always
(B)
As long as normal profits exists
(C)
As long as abnormal profits exists
(D)
None of these
Question-8
When an industry is in equilibrium the production happens at the ______________________
(A)
Minimum point of LMC
(B)
Minimum point of LAC
(C)
Minimum point of TC
(D)
None of these
Question-9
The cost curve of a monopolist is _________________ shaped.
(A)
U shaped
(B)
L shaped
(C)
k shaped
(D)
None of these
Question-10
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
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
Theory of Consumer Behavior; Marginal Utility and Indifference Curve Analysis
Law of Supply and Price Elasticity of Supply
Laws of Returns - Returns to a Factor and Returns to Scale
Demand and Law of Demand
Elasticity of Demand
Cost and Revenue Analysis
FORMS OF MARKET
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
National Income Aggregates
INTERNATIONAL TRADE; NEED AND BASIS
Balance of Payments
Theory of Distribution: Marginal Productivity Theory and Determination of Wages
Public Expenditure
PUBLIC DEBT
Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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