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English
Economics
History & Civics
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Question-1
The equilibrium conditions of the firms under perfect competition depend on
(A)
Cost
(B)
Revenue
(C)
Cost and revenue conditions
(D)
None of these
Question-2
A monopolist operates at the _______________
(A)
At the minimum point of LAC
(B)
At the maximum point of LAC
(C)
No where at LAC
(D)
falling part of LAC
Question-3
The concept of monopolistic competition was developed by ________________
(A)
Adam Smith
(B)
Chamberlain
(C)
Keynes
(D)
None of these
Question-4
Under perfect competition, if the AR>SAC, the firms make __________________
(A)
Normal profit
(B)
Supernormal profit
(C)
Losses
(D)
None of these
Question-5
If existing firms earns super normal profits, it would ______________
(A)
Not attract firms
(B)
Attract frims
(C)
Number of firms remains same
(D)
None of these
Question-6
The firms in the long run under perfect competition would _________________
(A)
Not earn abnormal protifs
(B)
No loss making
(C)
a and b
(D)
None of these
Question-7
Under perfect competition, if the AR=SAC, the firms make ________________
(A)
Only normal profit
(B)
Super normal profit
(C)
Losses
(D)
None of these
Question-8
If existing firms earns super normal profits under monopolistic competition, it would _______________
(A)
Not attract firms
(B)
Attract firms
(C)
Number of firms remain same
(D)
None of these
Question-9
Under perfect competition the firms ________________ price for selling additional units of goods.
(A)
Reduce
(B)
Will not reduce
(C)
Increase
(D)
None of these
Question-10
The leftward shift in the supply curve of the industry with decrease market demand curve leads to ________________
(A)
Rise in price
(B)
Fall in price
(C)
Price remain same
(D)
None of these
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
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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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