Market Failure
Quiz
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Other
•
University
•
Hard
Jyotika Verma
Used 164+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is NOT a reason for market failure?
Presence of Public Goods
Presence of Positive Externalities
Perfectly competitive markets
Incomplete markets
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following conditions lead to emergence of natural monopoly?
Low fixed cost
High fixed cost
Low variable cost
High variable cost
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When is competition likely to be limited?
No transportation cost
Perfect information to all the participants
Presence of large number of firms
Presence of patents
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
There is inefficiency (in terms of output) associated with Perfect competition.
True
False
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In the presence of natural monopoly, it is profitable to produce output at a point at which Price is equal to Long run marginal cost.
True
False
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In Public goods, what is meant by the property of non-rivalry?
Marginal cost of an additional user is high
Marginal cost of an additional user is zero
Marginal cost is high
Marginal cost is zero
7.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
Provision of Street-light by markets could lead to :
Undersupply of streetlights
Oversupply of streetlights
Optimal supply of streetlights
No supply of streetlights
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