In a perfect competition, seller has to incur selling expenses because his product has to be differentiated from the products by other sellers.
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Question 2 of 25
2. Question
1 points
Agricultural goods markets depict characteristics close to ______
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Question 3 of 25
3. Question
1 points
Since a perfectly competitive firms is a price taker, it is faced with a straight line demand curve i.e AR is-
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Question 4 of 25
4. Question
1 points
What is the shape of the demand curve aced by a firm under perfect competition?
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Question 5 of 25
5. Question
1 points
Which is the first order condition for the profit of a firm to be maximum?
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Question 6 of 25
6. Question
1 points
In a perfect competition, the firm will be in equilibrium when-
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Question 7 of 25
7. Question
1 points
The short run average cost curve (SAC) is –
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Question 8 of 25
8. Question
1 points
in a Perfect competition, the firms have-
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Question 9 of 25
9. Question
1 points
On account of the law of _______, the average variable cost curve is U-shaped.
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Question 10 of 25
10. Question
1 points
In a perfect competition, no firms is able to earn an abnormal profit.
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Question 11 of 25
11. Question
1 points
These short cost curves (SACs) are called as-
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Question 12 of 25
12. Question
1 points
In a perfect competition in long run firm gets equilibrium if it is operating under ________
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Question 13 of 25
13. Question
1 points
For the price-taking firm:-
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Question 14 of 25
14. Question
1 points
In perfect competition in the long run there will be no-
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Question 15 of 25
15. Question
1 points
If under perfect completion, the price line lies below the average cost curve, the firm would……..
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Question 16 of 25
16. Question
1 points
In a perfect competition which curve among following will be a straight line?
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Question 17 of 25
17. Question
1 points
Price-taking firms, i.e, firms that operate in a perfectly competitive market, are said to be”small” relative to the market. Which of the following best describes this smallness?
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Question 18 of 25
18. Question
1 points
The firm in a perfectly competitive market is a price taker.This designation as a price taker is based on the assumption that-
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Question 19 of 25
19. Question
1 points
Suppose that the demand curve for the XYZ Co. slopes downward and to the right. We can conclude that-
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Question 20 of 25
20. Question
1 points
In perfect competition in the long run there will be no-
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Question 21 of 25
21. Question
1 points
Which one of the following does NOT occur in perfect competition?
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Question 22 of 25
22. Question
1 points
In perfect competition, a firm’s marginal revenue equals its-
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Question 23 of 25
23. Question
1 points
A perfectly competitive firm’s demand curve is-
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Question 24 of 25
24. Question
1 points
In perfect competition, the marginal revenue of an individual firm-
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Question 25 of 25
25. Question
1 points
In the case of a perfectly competitive firm, the ________
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