Cartel is associated with:
Collusive oligopoly
Non-collusive oligopoly
Cartel
Perfect competition
Correct Answer :
A. Collusive oligopoly
Related Questions
MC curve is:
L-shaped
U-shaped
V-shaped
Both a and b depending on situation
The entry of new firms in cournot model is:
Banned
Free
Partially free
Allowed
When at a given price, the quantity demanded of a commodity is more than the quantity supplied, there will be:
An upward pressure on price
A downward pressure on price
Price will remain unaffected
All of the above
In the case of a giffen good, the income effect:
Is equal to the substitution effect
More than offsets the substitution effect
Reinforces the substitution effect
Only partially offsets the substitution effect
The long-run AC curve is constructed from:
The minimum points on all short-run AC curves
The lowest points on the short-run MC curve
The minimum points on the short run AVC curves
It has nothing to do with the short-run cost curves
Law of Substitution in production was presented by:
Classical economists
Keynes
Neo-classical economists
Karl Marx
A demand curve is not related to:
The price of the commodity
The time period
The price of substitutes
Any of the above
An economic model describing the working of an economy consists of:
Functional relationships
Family relationships
Economic position
Stagnant relationships
Which of the following is the work of A.C.Pigou?
Economics of Welfare
Commerce and Trade
Industrial Economics
None of the above
Price mechanism has also given the name:
Labor theory
Production theory
Laisseze-faire
None of the above
The optimum level of output in long run takes place where:
LAC = LMC
SAC = LMC
SAC =MC
SAC =LAC
If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief technology is:
One
Zero
Two
Five
If under perfect competition, in the short period, price does not cover the average cost completely, the firm will even then stay in the market as long as:
The average fixed cost is covered
The average variable cost is covered
Some profit is earned
The entrepreneurs enjoy producing
Some farm land can be used to produce either corn or soybeans. If the demand for corn increases then:
The demand for soybeans should increase
The supply of soybeans should increase
The demand for soybeans should decrease
The supply of soybeans should decrease
If the marginal utility is divided by the price of the commodity then it is called:
Real Marginal Utility
Gross Marginal Utility
Weighted Marginal Utility
Money Marginal Utility
Of the following, which one corresponds to fixed cost?
Payments for raw materials
Labor cost
Transportation charges
Insurance premium on property
If the commodity is inferior then Income Effect (I.E) is:
Negative
Positive
Zero
Infinite
Under monopolistic competition, the firms compete alongwith:
Supreme powers
Discretionary powers
Low powers
None of the above
If a straight line supply curve passes through the point of origin O, the elasticity of supply is:
Zero
Infinity
Unity
More than unity
The Cambridge School of Thought refers to the group of English economists who came under the influence of:
Alfred Marshal
J.M.Keynes
Paul A.Samuelson
A.C.Pigou
In monopolistic competition, the firms have to face:
Same cost conditions
Different cost conditions
Same price conditions
Same products conditions
Change in quantity demanded refers to:
Upward shift of the demand curve
Downward shift of the demand curve
Movement on the same demand curve
None of the above
Economies of large-scale production:
Lead to greater specialization
Offsets the effects of the law the law of comparative advantage
Lead to greater diversification of individual production
Cause firms to use more capital and less labor
If the demand for good is less elastic and government levied a tax per unit of output, the price per unit for the firm would:
Rise by the amount of the tax
Rise by more than the amount of the tax
Rise by less than the amount of the tax
Remain the same
The marshallian indirect utility function in the form of equation is:
x =a-bp
x =b-ap
x = f(P)
The isoquant approach is based upon:
One output
One input
Two outputs
Two inputs
A vertical supply curve parallel to the price axis implies that the elasticity of supply is:
Zero
Infinite
Equal to one
Greater than zero but less than infinite
When SAC curve rises, SMC curve lies its:
Below
Above
Equal level
None of the above
The low cost price leader will charge:
higher prices
zero prices
lower prices
specific prices
The partial equilibrium model keeps other things:
Variable
Constant
Increasing
Decreasing