Question

VIV
1
A. 3, 150,000 B.3,450,000 C. 2,550,000 D. 4,125,000
26. What is profit?
A. 850,000 B. 755,000 C. 1,145,000 D. 990,000 E. None
27. Which of the following is true about perfect completion?
A. There is barrier to entry/exit from the industry
B. There are no government intervention in the market
C. The products in the market is differentiated
D. There are small number of buyers
E. ALL F. None
28. Oligopoly is a type of
market, A----- -exists in the industry
A. Perfect, few firms
C. Perfect, many firms
B. Imperfect, few firms
D. Imperfect, many firms
29. Given the same cost and revenue schedules, a profit-maximizing monopolist will produce:
A. Less output than a competitive industry
B. More output than a competitive industry
C. The same amount of output as competitive industry
D. None of the above
30. Which one of the following is not true of a profit maximizing monopoly firm in equilibrium?
A. Total profit is maximum for the firm
B. There is less output than under competitive condition
C. Average costs are minimum at the equilibrium rate of output
D. The price is higher than under competitive conditions
E. All F. None​

Answer 1

Answer:

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