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According to Chamberline, in monopolistic competition, differentiation is determined by:

A. Choices

B. Preferences

C. Both a and b

D. None of the above

Correct Answer : C.


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  1. If the supply and demand increases equally, the price will:
  2. If the demand curve is inelastic then:
  3. If as a result of a decrease in price, total outlay (expenditures) on a commodity increases, its price-elasticity…
  4. The monopolist who is producing the same output from two (or more than two) plants is concerned with:
  5. Chamberline introduces the concept of:
  6. The Hicksian demand curve includes:
  7. Perfect competition assumes:
  8. Elasticity of supply means change in supply due to change in:
  9. Demand is elastic when the coefficient of elasticity is:
  10. Marginal utility (MU) always:
  11. A monopoly producer has:
  12. We can write ordinal utility function as:
  13. Theory of revealed preference is based on:
  14. The expansion point is attained by joining:
  15. An optimum level of a firms output is:
  16. When in a market, the number of buyers is very large and the number of sellers is very small, it is…
  17. The Latin term citeris paribus means:
  18. If the price of a product falls which of the following would occur?
  19. The ordinal approach was presented by:
  20. Production is a function of:
  21. Cross-elasticity of demand or cross-price elasticity between two perfect substitutes will be:
  22. According to marginalistic rule, the profit maximization hypothesis requires:
  23. When at a given price, the quantity supplied of a commodity is more than the quantity demanded, there…
  24. AR curve under perfect competition:
  25. At a point above the middle of a straight line demand curve, elasticity of demand is:
  26. In Edgeworth model, price remains:
  27. Kinked Demand Curve is consistent with which one of the following market situations?
  28. The partial equilibrium model keeps other things:
  29. Who wrote A Contribution to the Theory of Trade Cycle?
  30. In monopolistic competition, the firm compete on the basis of: