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Economics
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Question-1
The cost curve of a monopolist is _________________ shaped.
(A)
U shaped
(B)
L shaped
(C)
k shaped
(D)
None of these
Question-2
Which is the equilibrium condition for perfect competition?
(A)
MC>MR
(B)
MC < MR
(C)
SMC=MR
(D)
None of these
Question-3
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-4
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-5
A monopolist in the long run can ______________
(A)
Earn normal profit
(B)
Can earn super normal profit
(C)
Make losses
(D)
a or b
Question-6
Under monopolistic competition, it is possible that the firms attains _______________
(A)
Only normal profit
(B)
Only losses
(C)
Only super normal profits
(D)
All of these
Question-7
The firm under perfect competition is a ______________
(A)
Price taker only
(B)
Output adjuster
(C)
Can not charge more than the market price
(D)
All of these
Question-8
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-9
Under monopoly, price would be greater than ________________
(A)
MR
(B)
MC
(C)
AR
(D)
None of these
Question-10
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
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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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