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Market Structure and Pricing

Market Structure and Pricing

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Question 1
In which of the following is not a type of market structure Price will be very high?
A
Perfect competition
B
Monopoly
C
Duopoly
D
Oligopoly
Question 2
Equilibrium condition of a firm is......
A
MC = MR
B
MC > MR
C
MC < MR
D
MR = Price
Question 3
Which of the following is a feature of monopolistic competition?
A
One seller
B
Few sellers
C
Product differentiation
D
No entry
Question 4
A firm under monopoly can earn ............. in the short run.
A
Normal profit
B
Loss
C
Super normal profit
D
More loss
Question 5
There is no excess capacity under .....................
A
Monopoly
B
Monopolistic competition
C
Oligopoly
D
Perfect competition
Question 6
Profit of a firm is obtained when .................
A
TR < TC
B
TR – MC
C
TR > TC
D
TR = TC
Question 7
Another name of price is.................
A
Average Revenue
B
Marginal Revenue
C
Total Revenue
D
Average Cost
Question 8
In which type of market, AR and MR are equal .....
A
Duopoly
B
Perfect competition
C
Monopolistic competition
D
Oligopoly
Question 9
In monopoly, MR curve lies below .............
A
TR
B
MC
C
AR
D
AC
Question 10
Perfect competition assumes ............
A
Luxury goods
B
Producer goods
C
Differentiated goods
D
Homogeneous goods
Question 11
Group equilibrium is analysed in.......
A
Monopolistic competition
B
Monopoly
C
Duopoly
D
Pure competition
Question 12
In monopolistic competition, the essential feature is .....
A
Same product
B
selling cost
C
Single seller
D
Single buyer
Question 13
Monopolistic competition is a form of ........
A
Oligopoly
B
Duopoly
C
Imperfect competition
D
Monopoly
Question 14
Price leadership is the attribute of ............
A
Perfect competition
B
Monopoly
C
Oligopoly
D
Monopolistic competition
Question 15
Price discrimination will always lead to.............
A
Increase in output
B
Increase in profit
C
Different prices
D
b and c
Question 16
The average revenue curve under monopolistic competition will be......
A
Perfectly inelastic
B
Perfectly elastic
C
Relaively
D
Unitary elastic
Question 17
Under perfect competition, the shape of demand curve of a firm is...............
A
Vertical
B
Horizontal
C
Negatively sloped
D
Positively sloped
Question 18
In which market form, does absence of competition prevail?
A
Perfect competition
B
Monopoly
C
Duopoly
D
Oligopoly
Question 19
Which of the following involves maximum exploitation of consumers?
A
Perfect competition
B
Monopoly
C
Monopolistic competition
D
Oligopoly
Question 20
An example of selling cost is ...
A
Raw material cost
B
Transport cost
C
Advertisement cost
D
Purchasing cost
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There are 20 questions to complete.

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