| 1 |
Which of the following is <i>NOT</i>a characteristic of perfect competition? |
- A. free entry and exit of the firm
- B. demand curve of a firm is horizontal
- C. marginal revenue curve is horizontal
- D. individual firm can influence the price
|
| 2 |
Which of the following markets comes closest to perfect market |
- A. wheat market
- B. cigarette market
- C. cold drinks market
- D. stock market
|
| 3 |
How many types of markets according to time |
|
| 4 |
Different kinds of imperfect competition are. |
- A. Monopoly
- B. Monopolistic competition
- C. Oligopoly
- D. All the three
|
| 5 |
A monopoly market can be controlled by. |
- A. Fixing of the price by the government
- B. Administrative measures
- C. Introduction of substitutes
- D. Nationalisation
|
| 6 |
Marginal revenue is always less than price at all levels of output in |
- A. perfect competition
- B. monopoly
- C. both A and B
- D. none of the above
|
| 7 |
The supply curve of day to day market is. |
- A. Touching the horizontal axis
- B. Touching the vertical axis
- C. Perfactly elastic
- D. Perfactly inelastic
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| 8 |
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called |
- A. Revenue curve under perfect competition
- B. Monopoly curve
- C. Total revenue curve
- D. None of these
|
| 9 |
The kind of market is undesirable |
- A. general market
- B. specialized market
- C. local market
- D. monopoly market
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| 10 |
Different prices are charged from different customers of the same product. This is called. |
- A. Short run price
- B. Price instability
- C. Price discrimination
- D. Long run price
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