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A firm enjoys maximum control over the price of its product under:

A. Monopoly

B. Perfect competition

C. Oligopoly

D. Imperfect competition

Correct Answer : A.


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  1. Each firm in cournot model assumes that its competitor will:
  2. If a firm produces zero output in the short period then which statement is true?
  3. In cournot model, firms sell:
  4. Diminishing returns occur when a firm:
  5. Elasticity (E) expressed by the term, 1>E>0, is:
  6. In monopolistic competition, the firms follow:
  7. If the commodity is inferior then the increase in income of the consumer results in:
  8. While buying two goods X and Y with unequal prices, to maximize total utility from his income, a consumer…
  9. Elasticity of supply means change in supply due to change in:
  10. Technological efficiency:
  11. If the consumers expect that the price of computers will decrease in next year then:
  12. The external economies of scale experienced by a firm include the:
  13. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  14. Stable cobweb model is a:
  15. A demand curve which is horizontal and parallel to x-axis represents:
  16. The total utility (TU) curve is:
  17. Cross-elasticity of demand is measured as:
  18. At high prices, demand is likely to be:
  19. Which of the following has more elastic demand curve?
  20. Efficient allocation of resources is achieved to a greater extent under:
  21. The game theory was basically presented by:
  22. On a straight line demand curve, elasticity of demand at the midpoint is:
  23. The main contribution of Prof. Lord Keynes is in the field of:
  24. In monopolistic competition, the firm compete on the basis of:
  25. In monopolistic competition, the customers are attached with one product because of:
  26. An economic theory is :
  27. A monopolist is able to maximize his profit when:
  28. Who introduced the concept of Elasticity of Demand into economic theory?
  29. When the income of consumer increases then budget line will:
  30. The reaction curve of a firm is attained by joining the: