Online Exam in Price Determination in Different Markets in Economics for The preparation of professional exams of CA cpt, CA foundation, CS foundation, CMA foundation , And Also for B.com, M.com, MBA
Price Determination in Different Markets-Test 2
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Subject : General Economics Questions : 30
Chapter :Price Determination in Different Markets -Test 2
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A monopolist has control over the price he charges for his product. He will be able to maximize his profit by
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Question 3 of 30
3. Question
1 points
The AR curve and Industry demand curve are same in case of
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Question 4 of 30
4. Question
1 points
Under perfect competition the number of firms
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Question 5 of 30
5. Question
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Perfect competitive firms are
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Question 6 of 30
6. Question
1 points
The imposition of ceiling on a monopolist’s price will affect his
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Question 7 of 30
7. Question
1 points
A firm will shut-down its operation of its
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Question 8 of 30
8. Question
1 points
Firm under perfect competition in the short run can earn only.
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Question 9 of 30
9. Question
1 points
Price discrimination is possible
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Question 10 of 30
10. Question
1 points
Monopolist’s demand curve slopes downward because
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Question 11 of 30
11. Question
1 points
When the TR curve and the TC curve are parallel and TR exceed TC,
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Question 12 of 30
12. Question
1 points
Only one price for identical goods at any one time is the essential condition.
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Question 13 of 30
13. Question
1 points
Monopolistic competition constitutes
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Question 14 of 30
14. Question
1 points
A monopolist will fix the equilibrium output of his product where the elasticity of his AR curve is ____ .
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Question 15 of 30
15. Question
1 points
Equilibrium condition of profit maximizing firm is :
(i) Supply equals to demand
(ii) MR equals to AC
(iii) MR equals to MC
(iv) LMR equals to LAC
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Question 16 of 30
16. Question
1 points
There is a single seller of a commodity which has no close substitutes can be termed as _____ .
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Question 17 of 30
17. Question
1 points
Which one of the statement is correct in connection with monopolistic competitions ?
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Question 18 of 30
18. Question
1 points
Which of the following assumption is correct in connection with oligopoly.
(i) If an oligopolist increase his price his rivals will follow
(ii) If an oligopolist increases his price his rivals will not follow
(iii) If an oligopolist increases his price his rivals will lower their price
(iv) If oligopolist decreases his price his rivals will not react
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Question 19 of 30
19. Question
1 points
A market structure which has large number of firms producing and selling homogeneous product and the customers have full knowledge about the equilibrium price is ______ .
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Question 20 of 30
20. Question
1 points
The market which has single seller, no-substitutes for the product and freedom to entry of new firms is completely blocked is the case of _____ .
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Question 21 of 30
21. Question
1 points
The market, which has large numbers of seller, selling, differentiated product and freedom to entry and exit is an example of _____ .
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Question 22 of 30
22. Question
1 points
The market in which the numbers of seller, is small and there is interdependence in decision making by the firms is known as _____ .
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Question 23 of 30
23. Question
1 points
The monopolist charges different prices from different buyers is called ____ .
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Question 24 of 30
24. Question
1 points
Charging different prices from different buyers for the same product is known as
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Question 25 of 30
25. Question
1 points
In a perfectly competitive market ______ .
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Question 26 of 30
26. Question
1 points
In which of the following types of market structure, do firms produce homogeneous product
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Question 27 of 30
27. Question
1 points
In a perfectly, competitive market, the demand curve is ______ .
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Question 28 of 30
28. Question
1 points
Given the cost conditions, which statement is correct.
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Question 29 of 30
29. Question
1 points
In the perfect competition, if a new firm enters the industry in the long run, the supply curve _____ .
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Question 30 of 30
30. Question
1 points
In perfect competition, since the firm is a price taker, the ____ curve is straight line.