(A) Horizontal to X axis
(B) Kink at the price
(C) U shaped curve
(D) A liner line
Tag: Economics Mcqs With Answers
A Monopoly‟s demand curve is?
(A) Same as its average revenue curve
(B) Same as its supply curve
(C) Same as its cost curve
(D) Same as that of the factor inputs
A competitive firm maximizes its total profit when __?
(A) Average cost equal average realization
(B) Marginal cost equals Price;
(C) Total revenue is the maximum
(D) MR = AR
In a competitive market __is the price taker?
(A) Firm
(B) Industry
(C) Consumer
(D) Trade association
In a competitive market __is the price maker?
(A) Firm
(B) Industry
(C) Consumer
(D) Trade association
Oligopoly market is known for __?
(A) Price flexibility
(B) Price rigidity
(C) Price discrimination
(D) All the three
__ has excess production capacity in the long run?
(A) Perfect competition market
(B) Monopolistic competition market
(C) Oligopolistic market
(D) None
Super normal profits occurs when?
(A) Average revenue is more than average cost
(B) Total revenue is maximum;
(C) Total cost is minimum
(D) MC is equal to MR