| 1 |
If Bali burgers find that their MC of burgers is less than MR they would try to |
- A. expand business
- B. reduce business
- C. continue as before
- D. close business
|
| 2 |
There are large number of seller and buyers in the market but none is able to influence market price. such a market is called |
- A. free
- B. open
- C. regular
- D. competitive
|
| 3 |
A monopoly firm is in equilibrium when |
- A. MC intersects AC
- B. MC intersect MR
- C. AC intersects AR
- D. TC intersects TR
|
| 4 |
When MR = MC , a firm. |
- A. Does not attain a equilibrium position
- B. Suffers from loss
- C. Attains its equilibrium position
- D. Attains profit
|
| 5 |
Total cost = Total variable cost in the. |
- A. Marked period
- B. Short run
- C. Long run
- D. None of the three
|
| 6 |
Profit = ? |
- A. TR - TC
- B. TR - MC
- C. TC - MC
- D. TR + TC
|
| 7 |
The necessary condition for equilibrium position of a firm is |
- A. MC > MR
- B. MC > price
- C. MC = MR
- D. MC = AC
|
| 8 |
A firm attains sub-normal profit when: |
- A. AR = AC
- B. AR < AC
- C. AR > AC
- D. TR < TC
|
| 9 |
profit is a maximum when |
- A. TC and TR curves are parallel
- B. MC and MR curves are parallel
- C. AC and AR curves are parallel
- D. TFC and TVC are parallel
|
| 10 |
A firm attains sub-normal profit under perfect competition when its: |
- A. AR = P (Price)
- B. AR < P
- C. AC = P
- D. AC < P
|
