Test: Price And Output Determination- 3


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


Description
This mock test of Test: Price And Output Determination- 3 for CA Foundation helps you for every CA Foundation entrance exam. This contains 30 Multiple Choice Questions for CA Foundation Test: Price And Output Determination- 3 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Price And Output Determination- 3 quiz give you a good mix of easy questions and tough questions. CA Foundation students definitely take this Test: Price And Output Determination- 3 exercise for a better result in the exam. You can find other Test: Price And Output Determination- 3 extra questions, long questions & short questions for CA Foundation on EduRev as well by searching above.
QUESTION: 1

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

Solution:
QUESTION: 2

In Oligopoly the kink in the demand curve is more due to _________.

Solution:
QUESTION: 3

One of the essential conditions of Perfect Competition is:

Solution:
QUESTION: 4

1) What does the term ceteris paribus mean?

Solution:
QUESTION: 5

A perfect market is characterized by:-

Solution:
QUESTION: 6

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

Solution:
QUESTION: 7

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

Solution:
QUESTION: 8

Abnormal profits exist in the long run only under _______.

Solution:
QUESTION: 9

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

Solution:
QUESTION: 10

Under monopoly, which of the following is correct:

Solution:
QUESTION: 11

The study of inflation is part of:

Solution:
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:

Solution:
QUESTION: 13

Kinked demand curve is observed in ______.

Solution:
QUESTION: 14

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

Solution:
QUESTION: 15

Selling costs have to be incurred in case of:

Solution:
QUESTION: 16

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

Solution:
QUESTION: 17

A monopolist can fix:

Solution:
QUESTION: 18

Which one of the following statement is Incorrect?

Solution:
QUESTION: 19

Price taker firms _________

Solution:
QUESTION: 20

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

Solution:
QUESTION: 21

Kinked demand curve is related to which market structure

Solution:
QUESTION: 22

Price under perfect competition is determined by the _______.

Solution:
QUESTION: 23

 Oligopoly having identical products is known as _______.

Solution:
QUESTION: 24

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

Solution:
QUESTION: 25

One of the essential conditions of Perfect Competition is:

Solution:
QUESTION: 26

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

Solution:
QUESTION: 27

Kinked demand curve is observed in ______.

Solution:
QUESTION: 28

OPEC is an example of : 

Solution:
QUESTION: 29

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

Solution:
QUESTION: 30

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

Solution: