Economics

What is the condition of equilibrium under perfect market competition?

• MR > MC

• MR = MC

• MR < MC

• NOTA

What does a firm earn in short run and long run equilibrium respectively under monopoly?

• Losses, supernormal profits and supernormal profits.

• Losses, normal profits and supernormal profits

• Normal profits and supernormal profits

• Supernormal profits and supernormal profits

There is free entry and exit of the firms in

• Perfect market

• Monopoly market

• Monopolistic market

• Both a and c

Where is the shut down point of a firm?

• When price is less than AVC

• When price is equal to AVC

• When price is more than AVC

• NOTA

The demand, AR, MR & Price curve of ________ market forms a horizontal curve.

• Oligopoly

• Monopolistic

• Monopoly

• Perfect

Which country is practising Dumping against India?

• USA

• China

• UK

• Both a & b

Price discrimination occurred in _______ market.

• Perfect

• Monopoly

• Monopolistic

• Oligopoly

Price differentiation occurred in _________ market.

• Perfect

• Monopoly

• Monopolistic

• Oligopoly

Cartels are formed in _______ market.

• Perfect

• Monopoly

• Monopolistic

• Oligopoly

Under imperfect competition the slope of MR curve is ________ of the AR curve.

• Thrice

• Twice

• Equal

• Half