| 1 |
Which of the following is one of the assumptions of perfect competition. |
- A. few buyers and few sellers
- B. many buyers and few sellers
- C. many buyers and many sellers
- D. all sellers and buyers are honest
|
| 2 |
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
|
| 3 |
A monopolist is always interested and obtains. |
- A. Normal profit
- B. Subnormal profit
- C. Continues production even at loss
- D. Super normal profit
|
| 4 |
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
|
| 5 |
A short period market is the market of. |
- A. Perishable goods
- B. Durable goods
- C. Consumer goods
- D. Capital goods
|
| 6 |
The extent of market depends upon |
- A. Means of transport and communication
- B. Political instability
- C. Economics instability
- D. Trade restriction
|
| 7 |
Stock exchange is market where we can buy: |
- A. Shares
- B. Foreign exchange
- C. Factors of production
- D. Consumer goods
|
| 8 |
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
|
| 9 |
When marginal revenue is zero, total revenue is |
- A. maximum
- B. minimum
- C. zero
- D. decreasing
|
| 10 |
Under perfect competition MR and AR curves |
- A. are the same
- B. are different
- C. intersect each other
- D. are parallel
|
