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CA Foundation Exam  >  CA Foundation Tests  >  Business Economics for CA Foundation  >  Test: Price And Output Determination- 4 - CA Foundation MCQ

Test: Price And Output Determination- 4 - CA Foundation MCQ


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30 Questions MCQ Test Business Economics for CA Foundation - Test: Price And Output Determination- 4

Test: Price And Output Determination- 4 for CA Foundation 2024 is part of Business Economics for CA Foundation preparation. The Test: Price And Output Determination- 4 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Price And Output Determination- 4 MCQs are made for CA Foundation 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Price And Output Determination- 4 below.
Solutions of Test: Price And Output Determination- 4 questions in English are available as part of our Business Economics for CA Foundation for CA Foundation & Test: Price And Output Determination- 4 solutions in Hindi for Business Economics for CA Foundation course. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free. Attempt Test: Price And Output Determination- 4 | 30 questions in 30 minutes | Mock test for CA Foundation preparation | Free important questions MCQ to study Business Economics for CA Foundation for CA Foundation Exam | Download free PDF with solutions
Test: Price And Output Determination- 4 - Question 1
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OPEC is an example of : 

Detailed Solution for Test: Price And Output Determination- 4 - Question 1

OPEC is an example of oligopoly. This is because it consists of a group of oil-producing countries that collaborate to control production and prices in the oil market, but there are also other producers outside of OPEC that can influence the market

Test: Price And Output Determination- 4 - Question 2
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 __________ type of curve is found in oligopoly.

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Test: Price And Output Determination- 4 - Question 3
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 Which one of the following statement is Incorrect?

Test: Price And Output Determination- 4 - Question 4
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A competitive firm in the short run incure losses. The firm continue production, if:
Test: Price And Output Determination- 4 - Question 5
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 If under perfect competition, the price line lies below the average cost curve, the firm would : 
Test: Price And Output Determination- 4 - Question 6
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In oligopoly, the kink on the demand curve is more due to _________
Test: Price And Output Determination- 4 - Question 7
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The demand curve of the firm and industry will be same in which form of market: 
Test: Price And Output Determination- 4 - Question 8
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What are the conditions for the long run equilibrium of the competitive firm?
Test: Price And Output Determination- 4 - Question 9
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Demand curve is equal to MR curve in which market?
Test: Price And Output Determination- 4 - Question 10
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 Competitive firms in the long run earn: 
Test: Price And Output Determination- 4 - Question 11
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 Price taker firms _________
Test: Price And Output Determination- 4 - Question 12
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__________ is the price at which demand for a commodity is equal to its supply: 
Test: Price And Output Determination- 4 - Question 13
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Under which market structure, average revenue of a firm is equal to its marginal revenue :
Test: Price And Output Determination- 4 - Question 14
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Under which Market Situation demand curve is linear and parallel to X-axis:
Test: Price And Output Determination- 4 - Question 15
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 Oligopoly having identical products is known as _______.
Test: Price And Output Determination- 4 - Question 16
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 In the ‘kinked-demand’ curve model, the upper portion of the demand curve is:
Test: Price And Output Determination- 4 - Question 17
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Abnormal profits exist in the long run only under _______.
Test: Price And Output Determination- 4 - Question 18
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Which of these is the best example of oligopoly?
Test: Price And Output Determination- 4 - Question 19
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 In perfect Competition when the firm is a price taker, which curve among the following will be a straight line?
Test: Price And Output Determination- 4 - Question 20
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 Demand curve is equal to MR curve in which market?
Test: Price And Output Determination- 4 - Question 21
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For price discrimination to be successful, the elasticity of demand for the commodity in the two markets should be:
Test: Price And Output Determination- 4 - Question 22
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In a competitive market, if price exceeds Average Variable Cost (AVC) but remains less than Average Cost (AC) at the equilibrium, the firm is:
Test: Price And Output Determination- 4 - Question 23
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 In the long run a monopolist always earns
Test: Price And Output Determination- 4 - Question 24
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 In the long run monopolist can 
Test: Price And Output Determination- 4 - Question 25
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OPEC is an example of : 
Test: Price And Output Determination- 4 - Question 26
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A perfect market is characterized by:-
Test: Price And Output Determination- 4 - Question 27
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Which market have characteristic of product differentiation?
Test: Price And Output Determination- 4 - Question 28
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When elasticity of demand is Equal to one in monopoly, marginal Revenue will be _______.
Test: Price And Output Determination- 4 - Question 29
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Under which market Condition firms make only normal profits in the long run?
Test: Price And Output Determination- 4 - Question 30
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Price discrimination is possible only when. 
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