# Test: Price And Output Determination- 3

## 30 Questions MCQ Test Economics for CA CPT | Test: Price And Output Determination- 3

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Attempt Test: Price And Output Determination- 3 | 30 questions in 30 minutes | Mock test for CA Foundation preparation | Free important questions MCQ to study Economics for CA CPT for CA Foundation Exam | Download free PDF with solutions
QUESTION: 1

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QUESTION: 2

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QUESTION: 3

### One of the essential conditions of Perfect Competition is:

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QUESTION: 4

1) What does the term ceteris paribus mean?

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QUESTION: 5

A perfect market is characterized by:-

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QUESTION: 6

In perfect Competition when the firm is a price taker, which curve among the following will be a straight line?

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QUESTION: 7

In a perfectly competitive market, if MR is greater than MC, then a firm should-------.

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QUESTION: 8

Abnormal profits exist in the long run only under _______.

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QUESTION: 9

Selling outlay is an essential part of which of the following market situations?

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QUESTION: 10

Under monopoly, which of the following is correct:

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QUESTION: 11

The study of inflation is part of:

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QUESTION: 12

In a competitive market, if price exceeds Average Variable Cost (AVC) but remains less than Average Cost (AC) at the equilibrium, the firm is:

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QUESTION: 13

Kinked demand curve is observed in ______.

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QUESTION: 14

In the ‘kinked-demand’ curve model, the upper portion of the demand curve is:

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QUESTION: 15

Selling costs have to be incurred in case of:

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QUESTION: 16

The distinction between a single firm and an Industry vanishes in which of the following market conditions?

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QUESTION: 17

A monopolist can fix:

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QUESTION: 18

Which one of the following statement is Incorrect?

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QUESTION: 19

Price taker firms _________

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QUESTION: 20

In the ‘kinked-demand’ curve model, the upper portion of the demand curve is:

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QUESTION: 21

Kinked demand curve is related to which market structure

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QUESTION: 22

Price under perfect competition is determined by the _______.

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QUESTION: 23

Oligopoly having identical products is known as _______.

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QUESTION: 24

For price discrimination to be successful, the elasticity of demand for the commodity in the two markets should be:

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QUESTION: 25

One of the essential conditions of Perfect Competition is:

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QUESTION: 26

Under which market Condition firms make only normal profits in the long run?

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QUESTION: 27

Kinked demand curve is observed in ______.

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QUESTION: 28

OPEC is an example of :

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QUESTION: 29

In market, the price and output equilibrium is determined on the basis of:

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QUESTION: 30

“Price Discrimination” can be best exercised by the Seller in ________.

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