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Question-1
_______________ is free from all the barriers.
(A)
Monopolist
(B)
Perfect competitior
(C)
Oligopolies
(D)
None of these
Question-2
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-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
The cost curves of competitive firms are __________________ shaped.
(A)
U shaped
(B)
L shaped
(C)
K shaped
(D)
None of these
Question-5
Under perfect competition the price of goods and services are determined by _______________
(A)
Demand and supply
(B)
Demand only
(C)
Supply only
(D)
Producer
Question-6
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-7
The rightward 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 remains same
(D)
None of these
Question-8
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-9
The cost curves of a competitive and monopolist firms is _________________ shaped.
(A)
U shaped
(B)
L shaped
(C)
K shaped
(D)
None of these
Question-10
________________ able to take the full advantages of economies of scale.
(A)
Monopolist
(B)
Perfect competitior
(C)
Oligopolies
(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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