Q.        Which is the other name that is given to the average revenue curve? A.           Profit curve    B.            Demand curve ...

Q. In which of the following market structure is the degree of control over the price of its product by a firm very large? Imperfect competitionPerfect competitionMonopolyIn A and B both Answer: Monopoly

Q.       In which form of the market structure in the degree of control over the price of its product by a firm very large? A.           Monopoly        ...

Q. Price discrimination will be profitable only if the elasticity of demand in different markets into which the total market has been divided is: Uniform  DifferentLess             Zero Answer: Different

Q.       Which is the first-order condition for the profit of a firm to be maximum? AC = MR    MC = MRMR = AR   AC = AR Answer: MC = MR

Q.       What is the shape of the demand curve faced by a firm under perfect competition? A.           Horizontal      B.            Vertical ...

Q. Which of the following is not an essential condition of pure competition? A.           Large number of buyers and sellers              ...

Q.       A monopolist is able to maximize his profit when: A.           His output is maximum        B.            He charges a high price ...

Q. With which of the following is the concept of marginal cost closely related? A.           Variable cost B.            Fixed cost ...

Q. According to M. Kalecki, the true measure of the degree of monopoly power is the: A.           Ratio between price and marginal cost       B.            ...