A monopolist:
Can not influence the market
Can influence the market
Is a price taker
None of the above
Correct Answer :
B. Can influence the market
Related Questions
In microeconomics, we study:
Aggregates of the economy
Few units of the economy
Large units of the economy
Individual units of the economy
The demand of the luxuries is:
More elastic
Less elastic
Unit elastic
Zero elastic
The budget-line is also known as the:
Iso-utility curve
Production possibility line
Isoquant
Consumption possibility line
In monopolistic competition, the cost curves of all firms are:
Uniform
Different
Dependent
Independent
A firm enjoys maximum control over the price of its product under:
Monopoly
Perfect competition
Oligopoly
Imperfect competition
Whenever a group of monopolistic competitors attains equilibrium, the firms in this group usually:
Charge different prices, but produce identical outputs
Produce different outputs, but charge identical prices
Charge different prices, and produce different outputs
None of the above
An iso-product (an isoquant) curve slopes:
Downward to the left
Downward to the right
Upward to the right
Upward to the left
Under price discrimination, the buyers must:
Be similar
Not be similar
Equal
None of the above
Which of the following is called Gossens first law?
Law of production
The Law of Equi-Marginal Utility
The Law of Diminishing Marginal Utility
Law of Variable Proportions
Which one of the following has been the most influential work of F.H.Knight?
Freedom and Reform
The Green Revolution
Economic Integration
Risk ,Uncertainty and Profit
Regarding economic decisions, economics of uncertainty identifies:
No risks
Risks
Safety
None of the above
We can measure consumers surplus with the help of
TU curve
MU curve
Supply curve
None of the above
The cournot model is a model of:
Instable equilibrium
Stable equilibrium
Constant equilibrium
Fluctuating equilibrium
In substitution effect, we:
Move to another indifference curve
Move along given indifference curve
Move to a higher indifference curve
Move to a lower indifference curve
A high value of cross-elasticity indicates that the two commodities are:
Very good substitutes
Poor substitutes
Good complements
Poor complements
If the demand curve is vertical then its slope is:
Infinite
Zero
Equal to one
None of the
Monopolistic firm can fix:
Both price and output
Either price or output
Neither price nor output
None of the above
The difference between accounting profits and economic profits is:
Implicit costs
Explicit costs
Fixed costs
Variable costs
At the shut-down point in perfect competition:
P = AVC
TR =TVC
The total losses of the firm equal TFC
All of the above
A straight line, downward-sloping demand curve implies that, as price falls, the elasticity of demand:
Increases
Decreases
Remains the same
Is zero
The firms in non-cooperative games:
Enforce contracts
Make contracts
Make negotiations
Do not make negotiations
Price discrimination is possible:
Only under monopoly situation
Under any market form
Only under monopolistic competition
Only under perfect competition
There is no difference between fixed and variable factors in the:
Long run
Short run
Average run
None of the above
The kink demand curve faced by an oligopolist is based on the assumption that:
Competitors will follow a price increase but not a price cut
Competitors will follow a price increase as well as a price cut
Competitors will ignore both a price increase and a price cut
Competitors will ignore a price increase but will follow a price cut
Who first formulated the Marginal Productivity Theory of Distribution?
J.B.Clark
L.Euler
J.A.Schumpeter
Alfred Marshal
When the slope of a demand curve is zero (also known as vertical demand curve) then elasticity will be:
Zero (perfectly inelastic)
Equal to one (unitary elastic)
Infinite (perfectly elastic)
None of the above
The Latin term citeris paribus means:
Other things being equal
Because of this
Due to this
All the factors changes at the same rate
The supply curve for the short-run competitive firm is the same as:
Marginal cost curve
Average variable cost curve
That part of the marginal cost curve which equals or is greater than AVC
Average total cost curve
In the case of substitutes, the cross demand curve slopes
Downwards to the right
Upwards to the right
Backwards to the right
Inwards at the bottom
In dominant price leadership model, the small firms are like:
monopolistic firms
monopoly
competitive firms
none of the above