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Cartel is associated with:

A. Collusive oligopoly

B. Non-collusive oligopoly

C. Cartel

D. Perfect competition

Correct Answer : A.


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  2. In price leadership, like leader, the follower firm may:
  3. Each firm in cournot model starts selling:
  4. A firms profit is equal to:
  5. Which of the following formula determine the income elasticity of demand?:
  6. All of the following are capital resources except:
  7. Two policy variables, product and selling activities in the theory of firm was introduced by:
  8. Marginal cost is found with the help of changes in:
  9. The shape of the TC curve is:
  10. A price is a ratio of exchange between:
  11. Production function relates:
  12. In monopolistic competition, if a firm lowers its price, the rival firms will:
  13. Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity…
  14. In the perfect competition, there is a process of:
  15. In case of monopoly, both AR and MR fall, but MR falls:
  16. The minimization of costs subject to output requires equilibrium at the lowest:
  17. Who wrote A Contribution to the Theory of Trade Cycle?
  18. Under conditions of perfect competition, price in the long-run is equal to:
  19. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  20. If the demand curve is vertical then its slope is:
  21. The slope of budget line shows the price ratios of:
  22. In case of monopoly, TR curve rises at a:
  23. Marginal utility equals:
  24. The cross-price elasticity of the demand for orange juice with respect to the price of apple juice is…
  25. Marshallian approach is also known as:
  26. The situation of single buyer and single seller is called:
  27. If the demand curve is inelastic then:
  28. When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…
  29. The MRTS along an iso-quant goes on to:
  30. Formulation of an economic theory involves: