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Test: Price And Output Determination- 3 - CA Foundation MCQ


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30 Questions MCQ Test - Test: Price And Output Determination- 3

Test: Price And Output Determination- 3 for CA Foundation 2024 is part of CA Foundation preparation. The Test: Price And Output Determination- 3 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Price And Output Determination- 3 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- 3 below.
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Test: Price And Output Determination- 3 - Question 1

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

Test: Price And Output Determination- 3 - Question 2

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

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Test: Price And Output Determination- 3 - Question 3

One of the essential conditions of Perfect Competition is:

Test: Price And Output Determination- 3 - Question 4

1) What does the term ceteris paribus mean?

Test: Price And Output Determination- 3 - Question 5

A perfect market is characterized by:-

Test: Price And Output Determination- 3 - Question 6

 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- 3 - Question 7

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

Test: Price And Output Determination- 3 - Question 8

Abnormal profits exist in the long run only under _______.

Test: Price And Output Determination- 3 - Question 9

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

Test: Price And Output Determination- 3 - Question 10

Under monopoly, which of the following is correct:

Test: Price And Output Determination- 3 - Question 11

The study of inflation is part of:

Test: Price And Output Determination- 3 - 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:

Test: Price And Output Determination- 3 - Question 13

Kinked demand curve is observed in ______.

Test: Price And Output Determination- 3 - Question 14

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

Test: Price And Output Determination- 3 - Question 15

Selling costs have to be incurred in case of:

Test: Price And Output Determination- 3 - Question 16

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

Test: Price And Output Determination- 3 - Question 17

A monopolist can fix:

Test: Price And Output Determination- 3 - Question 18

Which one of the following statement is Incorrect?

Test: Price And Output Determination- 3 - Question 19

Price taker firms _________

Test: Price And Output Determination- 3 - Question 20

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

Test: Price And Output Determination- 3 - Question 21

Kinked demand curve is related to which market structure

Test: Price And Output Determination- 3 - Question 22

Price under perfect competition is determined by the _______.

Test: Price And Output Determination- 3 - Question 23

 Oligopoly having identical products is known as _______.

Test: Price And Output Determination- 3 - Question 24

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

Test: Price And Output Determination- 3 - Question 25

One of the essential conditions of Perfect Competition is:

Test: Price And Output Determination- 3 - Question 26

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

Test: Price And Output Determination- 3 - Question 27

Kinked demand curve is observed in ______.

Test: Price And Output Determination- 3 - Question 28

OPEC is an example of : 

Test: Price And Output Determination- 3 - Question 29

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

Test: Price And Output Determination- 3 - Question 30

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

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