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MCQs

Total Questions : 302 | Page 8 of 31 pages
Question 71. Supply curve for a ideal competitor is its
  1.    marginal Revenue curve
  2.    average total cost curve
  3.    marginal cost curve
  4.    marginal cost curve above its average variable cost curve
 Discuss Question
Answer: Option D. -> marginal cost curve above its average variable cost curve
Answer: (d).marginal cost curve above its average variable cost curve
Question 72. In monopolistic competition, companies attain some level of market power
  1.    by producing differentiated products.
  2.    because of barriers to exit from industry.
  3.    because of barriers to entry into industry.
  4.    by virtue of size alone.
 Discuss Question
Answer: Option A. -> by producing differentiated products.
Answer: (a).by producing differentiated products.
Question 73. Each of following are means monopolistically competitive companies distinguish their commodities EXCEPT
  1.    selling with slightly different physical characteristics.
  2.    offering different levels of service that come with a product.
  3.    creating a special aura or image for product with advertising.
  4.    none of above are exceptions they are all ways of differentiating products.
 Discuss Question
Answer: Option D. -> none of above are exceptions they are all ways of differentiating products.
Answer: (d).none of above are exceptions they are all ways of differentiating products.
Question 74. A price- and quantity-fixing accord is well-known as
  1.    price concentration
  2.    price leadership
  3.    collusion
  4.    game theory
 Discuss Question
Answer: Option C. -> collusion
Answer: (c).collusion
Question 75. Markets such that no contributors are great adequate to have market authority to put prices of a uniform product are
  1.    factors of production
  2.    perfect competition
  3.    pure competition
  4.    b & c
 Discuss Question
Answer: Option D. -> b & c
Answer: (d).b & c
Question 76. All customers and manufacturers are supposed to have ideal knowledge of price, usefulness, worth and manufacturing ways of products are
  1.    perfect utility
  2.    less information
  3.    perfect information
  4.    imperfect information
 Discuss Question
Answer: Option C. -> perfect information
Answer: (c).perfect information
Question 77. In distinguish to a monopoly or oligopoly, it is impractical for a company in perfect competition to produce economic profit in the
  1.    short run
  2.    year
  3.    a & b
  4.    long run
 Discuss Question
Answer: Option D. -> long run
Answer: (d).long run
Question 78. In perfect competition, every profit-exploiting manufacturer looks a market price identical to it's
  1.    marginal revenue
  2.    marginal cost
  3.    Profit maximization
  4.    perfectly elastic
 Discuss Question
Answer: Option B. -> marginal cost
Answer: (b).marginal cost
Question 79. Buyers competent of making realistic purchases based on information given are
  1.    rational buyers
  2.    rational sellers
  3.    buyers
  4.    sellers
 Discuss Question
Answer: Option A. -> rational buyers
Answer: (a).rational buyers
Question 80. In a perfectly competitive market, a company demand curve is
  1.    perfectly elastic
  2.    perfectly inelastic
  3.    imperfect market
  4.    elastic
 Discuss Question
Answer: Option A. -> perfectly elastic
Answer: (a).perfectly elastic

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