11th Grade > Economics - 1
NON-COMPETITIVE MARKETS MCQs
Total Questions : 25
| Page 3 of 3 pages
:
The MR curve is twice as steep as the demand curve. Hence, the slope of the demand curve would be half of that of the MR curve i.e 3.
Answer: Option D. -> Rs 5
:
D
Let's add the TR and MR columns to the table where
TR=P×Q;&MR=ΔTRΔq
P(Rs)QTR(Rs)MR(Rs)1100−1010010001092001800883002400674002800465003000256003000047002800−2
It can be seen that MR is maximum at a price of Rs 5.
:
D
Let's add the TR and MR columns to the table where
TR=P×Q;&MR=ΔTRΔq
P(Rs)QTR(Rs)MR(Rs)1100−1010010001092001800883002400674002800465003000256003000047002800−2
It can be seen that MR is maximum at a price of Rs 5.
Answer: Option A. -> market demand curve
:
A
The AR curve of a monopoly firm is the same as the market demand curve because AR is always equal to the price.
:
A
The AR curve of a monopoly firm is the same as the market demand curve because AR is always equal to the price.
:
When the total revenue is maximum, the marginal revenue is zero.
Answer: Option C. -> TR first increases and then decreases
:
C
As the price increases, TR first increases due to price effect and then decreases due to quantity effect.
:
C
As the price increases, TR first increases due to price effect and then decreases due to quantity effect.
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