EconomicsOnline Test
Market Structure and Pricing
Market Structure and Pricing
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Question 1 |
In which of the following is not a type of market structure Price will be very high?
Perfect competition | |
Monopoly | |
Duopoly | |
Oligopoly |
Question 2 |
Equilibrium condition of a firm is......
MC = MR | |
MC > MR | |
MC < MR | |
MR = Price |
Question 3 |
Which of the following is a feature of monopolistic competition?
One seller | |
Few sellers | |
Product differentiation | |
No entry |
Question 4 |
A firm under monopoly can earn ............. in the short run.
Normal profit | |
Loss | |
Super normal profit | |
More loss |
Question 5 |
There is no excess capacity under .....................
Monopoly | |
Monopolistic competition | |
Oligopoly | |
Perfect competition |
Question 6 |
Profit of a firm is obtained when .................
TR < TC | |
TR – MC | |
TR > TC | |
TR = TC |
Question 7 |
Another name of price is.................
Average Revenue | |
Marginal Revenue | |
Total Revenue | |
Average Cost |
Question 8 |
In which type of market, AR and MR are equal .....
Duopoly | |
Perfect competition | |
Monopolistic competition | |
Oligopoly |
Question 9 |
In monopoly, MR curve lies below .............
TR | |
MC | |
AR | |
AC |
Question 10 |
Perfect competition assumes ............
Luxury goods | |
Producer goods | |
Differentiated goods | |
Homogeneous goods |
Question 11 |
Group equilibrium is analysed in.......
Monopolistic competition | |
Monopoly | |
Duopoly | |
Pure competition |
Question 12 |
In monopolistic competition, the essential feature is .....
Same product | |
selling cost | |
Single seller | |
Single buyer |
Question 13 |
Monopolistic competition is a form of ........
Oligopoly | |
Duopoly | |
Imperfect competition | |
Monopoly |
Question 14 |
Price leadership is the attribute of ............
Perfect competition | |
Monopoly | |
Oligopoly | |
Monopolistic competition |
Question 15 |
Price discrimination will always lead to.............
Increase in output | |
Increase in profit | |
Different prices | |
b and c |
Question 16 |
The average revenue curve under monopolistic competition will be......
Perfectly inelastic | |
Perfectly elastic | |
Relaively | |
Unitary elastic |
Question 17 |
Under perfect competition, the shape of demand curve of a firm is...............
Vertical | |
Horizontal | |
Negatively sloped | |
Positively sloped |
Question 18 |
In which market form, does absence of competition prevail?
Perfect competition | |
Monopoly | |
Duopoly | |
Oligopoly |
Question 19 |
Which of the following involves maximum exploitation of consumers?
Perfect competition | |
Monopoly | |
Monopolistic competition | |
Oligopoly |
Question 20 |
An example of selling cost is ...
Raw material cost | |
Transport cost | |
Advertisement cost | |
Purchasing cost |
Question 21 |
Product and services are sold at world level are called _______ market
Local | |
Regional | |
National | |
International |
Question 22 |
_____________ classifies market on the basis of time
Adam Smith | |
Alfred Marshall | |
Samuelson | |
E.H.Chamberlin |
Question 23 |
Very Short period is also called _________ period
Long Period | |
Short Period | |
Market Period | |
None of these |
Question 24 |
The supply curve is __________ in the long period
Perfectly inelastic | |
Inelastic | |
Elastic | |
Very much elastic |
Question 25 |
Imperfect competition market which comprises ________________
Monopoly market | |
Monopolistic competition market | |
Duopoly Market | |
Oligopoly market | |
All of these |
Question 26 |
Group of firm is known as ________
Firm | |
Industry | |
Market | |
None of these |
Question 27 |
TR = TC is __________
Profit | |
Loss | |
Break even point | |
All of these |
Question 28 |
MC = MR is __________
Price | |
Equilibrium | |
Demand | |
Revenue |
Question 29 |
Under perfect competition there is __________ price prevails in the market
High Price | |
Low Price | |
Uniform Price | |
None of these |
Question 30 |
Total revenue is Rs.500, Cost Rs.600. Therefore find profit or loss?
100 Profit | |
100 Loss | |
1100 Profit | |
600 Loss |
Question 31 |
Long run average cost curve is __________ shaped curve
Downward sloping curve | |
Upward sloping curve | |
Straight line | |
Flatter ‘U’ shaped curve |
Question 32 |
Imperfect competition was propounded in
1930 | |
1932 | |
1933 | |
1940 |
Question 33 |
Imperfect competition was propounded in England by ________
Mrs. Joan Robinson | |
E.H.Chamberlin | |
Marshall | |
Adam Smith |
Question 34 |
Imperfect competition was propounded in America by __________
Mrs. Joan Robinson | |
E.H.Chamberlin | |
Marshall | |
Both ‘a’ and ‘b’ |
Question 35 |
Example for natural monopoly _____________
Goldmines | |
Coalmines | |
Nickel | |
All of these |
Question 36 |
___________ is an example for state monopoly.
Stamp paper | |
Nickel | |
Car | |
Railways |
Question 37 |
Total Profit =
(Average Revenue + Average Cost) x Total Output | |
(Average Revenue - Average Cost) x Total Output | |
(Average Revenue x Average Cost) x Total Output | |
(Average Revenue + Average Cost) x Total Output |
Question 38 |
There are ___________ types of price discrimination
One | |
Two | |
Three | |
Four |
Question 39 |
Different prices are changed for different individuals in __________ price discrimination
Personal | |
Geographical | |
On the basis of use | |
All of these |
Question 40 |
These are _____________ degrees of price discrimination
One degree | |
Two degrees | |
Three degrees | |
Four degrees |
Question 41 |
First degree price discrimination named it as ___________
Perfect discriminating monopoly | |
Imperfect discriminating monopoly | |
Sub market | |
None of these |
Question 42 |
___________ is also called as international price discrimination
Oligopoly | |
Dumping | |
Duopoly | |
Monopoly |
Question 43 |
There are _____ kinds of wastages under monopolistic competition.
Five | |
Four | |
Three | |
Two |
Question 44 |
___________ Market in which a single producer faces a singles consumer.
Bilateral Oligopoly | |
Bilatral Monopoly | |
Monopoly | |
Oligopoly |
Question 45 |
____________ Market in which there are two sellers.
Monopoly | |
Duopoly | |
Oligopoly | |
Monopolistic competition |
Question 46 |
Oligopoly is a form of ___________
Perfect competition | |
Monopoly | |
Monopolistic competition | |
Imperfect competition |
Question 47 |
Price rigidity is the attribute of ___________
Perfect competition | |
Oligopoly | |
Duopoly | |
Monopoly |
Question 48 |
A firm under perfect competition can earn ________ in the long run.
Normal Profit | |
Loss | |
Super Normal Profit | |
More Loss |
Question 49 |
_________ is the example of monopoly market.
Electricity Board | |
LIC | |
Bank | |
Automobile Industry |
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There are 49 questions to complete.