Question

25. A firm at equilibrium point will get
a) Maximum amount of profits
b) Minimum amount of loss
c) Either a or b
d) Both a and b
26. If a competitive firm in short run is enjoying
with economic profits then
a) New firms are attracted into the industry
b) Expansion of industry
c) Firms get zero economic profits in long
run
d) All of the above
27. In long run, which type of market a firm will
get allocative efficiency and productive
efficiency at equilibrium point
a) Monopoly
b) Monopolistic competition
c) Perfect competition
d) Oligopoly
28. Which of the statement is true
a) No substitutes for goods in monopoly
b) Perfect substitutes are seen in perfect
competition
c) Both a and b
d) None of the above
29. Which of the following statements is false
a) Average revenue never become zero in
any market
b) Marginal revenue will never become zero
in imperfect competitive market
c) Marginal revenue will never become zero
in perfect competition market
d) Price is always equals to average
revenue in any market
30. In monopoly, which of the following curves
are downward sloping
a) Average revenue curve
b) Marginal revenue curve
c) Total revenue curve
d) Both a and b
CA-FOUNDATION_CHAPTER END EXAM_ECONOMICS_GUNTUR & ALL BRANCHES______________________3
No.1 for CA/CWA & MEC/CEC MASTER MINDS
31. As per second degree of price discrimination
a) Monopoly will charge same price to all
the consumers
b) Monopoly will charge price based on
level of quantity
c) Monopoly will charge price based on
elasticity of demand for the good
d) Monopoly will charge price based on
consumer willing price for the good
32. In which type of market the word industry is
replaced by the word group due to product
differentiation
a) Monopoly
b) Duopoly
c) Monopolistic competition
d) Perfect competition
33. In the open oligopoly new firms can enter the
market and compete with the existing firms
a) True
b) False
34. At shutdown point
a) Price is greater than average cost
b) Total revenue is equal to total variable
cost
c) Firm is enjoying with super normal profits
d) All of the above
35. Monopoly can control only ______
a) Price
b) Demand
c) Satisfaction
d) All of the above
36. Under perfect competition, if average cost is
above the price then firm earns
a) Supernormal profits
b) Normal profits
c) Losses
d) Abnormal profits
37. Which of the following are the conditions for
firm’s equilibrium as per monopoly
a) MC=AR
b) MC=MR
c) MC curve shall cuts MR from below
d) Both b and c
38. As per short run, in perfect competition which
of the following curve’s portion is depicts as
supply curve
a) Positive slope of marginal cost curve
which is above the average total cost
b) Positive slope of marginal cost curve
which is above the average fixed cost
c) Positive slope of marginal cost curve
which is above the average variable cost
d) Any of the above
39. If a perfect competitive firm is earning
supernormal profits in short run. Then the
firm earns ___ in long run
a) Super normal profits
b) Normal profits
c) Losses
d) Any of the above
40. A perfect competitive firm in long run can
achieve
a) Allocative efficiency
b) Productive efficiency
c) Normal profits
d) All of the above
41. Railways is an example of
a) Perfect competition
b) Monopoly
c) Monopolistic competition
d) Oligopoly
42. A seller who charges different prices in
different sub-markets is
a) Simple monopoly
b) Discriminating monopoly
c) Pure monopoly
d) None of the above
43. Which of the following statements is true
a) Demand curve as per perfect competitive
firm is parallel to x-axis
b) Demand curve as per perfect competitive
firm is parallel to y-axis
c) Demand curve as per monopoly firm is
upward sloping
d) Demand curve as per oligopoly is
downward sloping
44. In monopoly market
a) New firms can enter freely
b) Existing firms can exit from the market
c) Price is determined by the firm itself
d) Industry determines the price of the good
45. Under monopoly, the price elasticity of
demand is
a) Infinity
b) Less elastic
c) More elastic
d) Zero
46. Which of the following is not the
characteristic of monopoly
a) Single firm in the market
b) Firm is a price taker
c) Existence of some advertisement
expenditure
d) Firm produces a unique product
CA-FOUNDATION_CHAPTER END EXAM_ECONOMICS_GUNTUR & ALL BRANCHES______________________4
Ph: 9885125025/26 www.mastermindsindia.com
47. Which of the following market is imperfect
competition
a) Monopoly
b) Duopoly
c) Oligopoly
d) All of the above
48. Excess capacity is commonly found in which
type of competition
a) Monopolistic competition
b) Oligopoly
c) Perfect competition
d) Any of the above
49. If a firm in oligopoly increases the price of a
good then there will be high response in
other firms in the market. The given
statement is
a) True
b) False
50. Duopoly is a specific form of market which
contains
a) Single seller
b) Two sellers
c) Two buyers
d) Single buyer

Answer 1

Answer:

Itna bada queation ka jawab hm nhi denge

Explanation:

kisi aur se puch lo