Q.       Economic rent can accrue to: A.           Land only        B.            Capital only ...

Q.        Under monophony in the labour market, the supply curve of labour facing the firm will be: Upward-sloping to the right      Downward-sloping to the rightBackward-sloping to the left     Horizontal Answer: Upward-sloping to the ...

Q.       Which one of the following is not the assumption of the Marginal Productivity Theory of Distribution? A.           Homogeneity of a factor       ...

Q.       With which of the theories of wages is the name of John Stuart Mill associated? A.           Marginal productivity theory of wages       ...

Q.       Which form of market structure is characterised by interdependence in decision-making as between the different competing firms? A.           Oligopoly         ...

Q.        The Kinky demand curve hypothesis is designed to explain in the context of oligopoly: A.           Price and output determination      B.            ...

Q.       Which of the following oligopoly models is concerned with the maximization of joint profits? A.           Price leadership model           ...

Q.        Discriminating monopoly implies that the monopolist charges different prices for his commodity: A.           From different groups of consumers            ...

Q.       The situation of monopolistic competition is created by: A.           Small number of producers of a commodity           ...

Q.        Under which of the following forms of market structure does a firm have no control over the price of its product? A.           Monopoly        ...