Price Determination in Different Markets-Test 3

In the perfect competition, when the marginal revenue and marginal cost are equal, profit is ____ .

In perfect competition, a firm increases profit when ____ exceeds the ____ .

In the long run there is enough time for the firm to cover its losses and earn normal profits. This is because in the long run, all inputs

In a perfect competitive market, in the long run, competitive prices equal the minimum possible ____ cost of good.

In perfect competition, in the long run if a new firm enters the industry the supply curve shifts to the right resulting in ____ .

If the price is statutorily fixed and equal to MC, monopoly profits will be

Which of the following type of competition is just a theoretical economic concept, not a realistic case where actual competition and trade take place ?

Which of the following feature is not seen in imperfect competition ?

Which of the following is not a characteristic, feature of perfect competition ?

In imperfect competition, the average revenue and marginal revenue curves are _____ .

Which of the following types of market structure is the exact opposite of perfect competition ?

In which of the following market structure is the demand curve of the market is represented by the demand curve of the firm ?

In which of the following types of market structures can a firm earn abnormal profit in the long run ?

In which of the following types of market structure are advertise expenses the least ?

The equilibrium level of output for the pure monopolist is where

In which of the following types of market structure, is it impossible for a seller to charge different prices for the same good ?

Under monopoly the supply curve is absent because

In perfect competition, in the long run, _____ .

In the long-run, due to blocked entry pure profits can be made by

Which industry best fits the description of a perfectly competitive market ?

A perfectly competitive firm is operating at an output level where price is greater than marginal cost. Which of the following is true ?

In India, in which of the following industries does monopoly exist ?

In ______ , a firm faces an infinitely elastic demand curve which means that the firm can sell any amount of a good at the prevailing market price.

When does a firm maximize its profit in an imperfect competition ?

How many sellers usually exist in a oligopoly market ?

A rational consumer is a person who

Which of the following is / are correct regarding the shape of total revenue under perfect competition ?

(i) TR curve is the straight line from the origin

(ii) Its slopes is constant

(iii) TR curve is S-shaped

(iv) Its slopes change with the change in output

Pure Monopoly exists

Under monopoly form of market, TR is maximum when

Which of the following is not true in respect of normal profit ?