Question

Please I want answers for all these questions.

1. Comparing monopoly and competitive firm,
the monopolist will
a) produce less at lower price
b) produce more at lower price
c) produce less at higher price
d) produce zero at lower price
2. If a firm under monopoly wants to sell more,
its average revenue curve will be a ____ line
a) upward sloping
b) downward sloping
c) vertical
d) horizontal
3. In a perfect competition who set the prices
a) buyers
b) sellers
c) both buyers and sellers
d) government
4. Which of the following is true statement
a) average revenue curve is also known as
demand curve
b) demand curve is derived from marginal
utility curve as per marginal utilitu analysis
c) both a and b
d) none of the above
5. The price discrimination under Monopoly will
be possible under which of the following
conditions
a) the seller has no control over the price of
his commodity
b) the market has same conditions
c) the price elasticity of demand is different in
different markets
d) the price elasticity of demand is uniform
6. Which is the first order condition for the profit
of a firm to be maximum
a) AC=MR b) MC=MR
c) MR=AR d) AC=AR
7. Which of the following is false regarding
monopoly
a) firm is a price maker
b) unique commodity
c) single seller
d) cross elasticity of demand is always infinity
8. Which of the following statements is incorrect
a) under monopoly there is no difference
between a firm and an industry
b) a monopolist may restrict the output and
rise the price
c) commodities offered for sale under perfect
competition will be heterogeneous
d) product differentiation is common in
monopolistic competition
9. Under which of the following forms of market
structure does a firm have no control over the
price of its commodity
a) monopoly
b) monopolistic competition
c) oligopoly
d) perfect competition
10. Under perfect competition a firm is described
as
a) a price maker and not price taker
b) price taker and not price maker
c) neither price maker nor price taker
d) none of the above
11. For a firm to become profitable it should
expand output whenever
a) marginal revenue is equal to marginal cost
b) marginal revenue is less than marginal
cost
c) marginal revenue is greater than marginal
cost
d) average revenue is greater than average
cost
12. In oligopoly, when the industry is dominated
by one large firm which is considered as
leader of the group. This is called as
a) open oligopoly
b) collusive oligopoly
c) partial oligopoly
d) pure oligopoly
13. Suppose a Medical Company in your city is
granted a license by the government
exclusively for producing and supplying
sanitizer bottles in the city. Granting this
license is an example of
a) natural barriers to entry
b) prices discriminating monopoly
c) legal barrier to entry
d) open oligopoly
ECONOMICS
CA -FOUNDATION - CHAPTER END EXAM
SUBJECT : ECONOMICS
GUNTUR & ALL BRANCHES
CA-FOUNDATION_CHAPTER END EXAM_ECONOMICS_GUNTUR & ALL BRANCHES______________________2
Ph: 9885125025/26 www.mastermindsindia.com
14. If commodity offered in oligopoly market is
differentiated then it is called as
a) perfect oligopoly
b) imperfect oligopoly
c) perfect competition
d) none of the above
15. Following is /are the feature of perfect
competition
a) homogeneous goods
b) perfect mobility of resources
c) no transportation cost
d) all of the above
16. Single price for good is seen in which type of
market
a) perfect competition
b) Monopoly
c) duopoly
d) none of the above
17. Which of the following is not a feature of
perfect competitive market
a) large number of sellers
b) large number of buyers
c) free entry and exit
d) selling costs
18. In which type of market average revenue
curve is parallel to x-axis
a) Monopoly
b) perfect competition
c) oligopoly
d) all of the above
19. When a firm's average cost is greater than
average revenue, then the firm is enjoying
with economic profits.
a) true
b) false
20. Monopoly can fix a higher price for goods
whose elasticity is
a) equal to one
b) greater than one
c) inelastic
d) not measurable
21. Market which have two firms is known as
a) monopoly
b) oligopoly
c) duopoly
d) monopolistic competition
22. In which type of market, price rigidity is
explained with kinked demand curve
a) monopoly
b) oligopoly
c) duopoly
d) none of the above
23. Selling costs have to be incurred in case of
which type of markets
a) Monopoly
b) Perfect competition
c) Monopolistic competition
d) All of the above
24. In which type of the market, the price is set
with an objective of making consumer
surplus as zero
a) Perfect competition
b) Monopolistic competition
c) Monopoly
d) Duopoly
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

Answer 1

kya bhai itna sara question ek sath