Test: Price And Output Determination- 4


30 Questions MCQ Test Crash Course of Micro Economics -Class 12 | Test: Price And Output Determination- 4


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Attempt Test: Price And Output Determination- 4 | 30 questions in 30 minutes | Mock test for CA Foundation preparation | Free important questions MCQ to study Crash Course of Micro Economics -Class 12 for CA Foundation Exam | Download free PDF with solutions
QUESTION: 1

OPEC is an example of : 

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QUESTION: 2

 __________ type of curve is found in oligopoly.

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QUESTION: 3

 Which one of the following statement is Incorrect?

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QUESTION: 4

A competitive firm in the short run incure losses. The firm continue production, if:

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QUESTION: 5

 If under perfect competition, the price line lies below the average cost curve, the firm would : 

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QUESTION: 6

In oligopoly, the kink on the demand curve is more due to _________

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QUESTION: 7

The demand curve of the firm and industry will be same in which form of market: 

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QUESTION: 8

What are the conditions for the long run equilibrium of the competitive firm?

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QUESTION: 9

Demand curve is equal to MR curve in which market?

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QUESTION: 10

 Competitive firms in the long run earn: 

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QUESTION: 11

 Price taker firms _________

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QUESTION: 12

__________ is the price at which demand for a commodity is equal to its supply: 

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QUESTION: 13

Under which market structure, average revenue of a firm is equal to its marginal revenue :

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QUESTION: 14

Under which Market Situation demand curve is linear and parallel to X-axis:

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QUESTION: 15

 Oligopoly having identical products is known as _______.

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QUESTION: 16

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

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QUESTION: 17

Abnormal profits exist in the long run only under _______.

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QUESTION: 18

Which of these is the best example of oligopoly?

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QUESTION: 19

 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: 20

 Demand curve is equal to MR curve in which market?

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QUESTION: 21

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

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QUESTION: 22

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: 23

 In the long run a monopolist always earns

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QUESTION: 24

 In the long run monopolist can 

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QUESTION: 25

OPEC is an example of : 

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QUESTION: 26

A perfect market is characterized by:-

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QUESTION: 27

Which market have characteristic of product differentiation?

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QUESTION: 28

When elasticity of demand is Equal to one in monopoly, marginal Revenue will be _______.

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QUESTION: 29

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

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QUESTION: 30

Price discrimination is possible only when. 

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