Home

Conditions of perfect competition ensure:

A. That each firm can influence the price

B. No single firm can influence the price

C. Any single firm can influence the supply condition in the market

D. Any single firm can influence both supply and price in the market

Correct Answer : B.


Download Objective type questions of Basics of Economics PDF

Visit our PDF store

Get all objective type questions of Basics of Economics MCQ

Also checkout these categories

Current Affairs August 2017 MCQ Motion MCQ Visual Basic .NET MCQ Permutation MCQ Automobile Engineering MCQ Nervous System MCQ Relativity MCQ Simplification MCQ Nuclear Chemistry MCQ Industrial Engineering & Production Management Test MCQ Machine Input MCQ Engineering Drawing MCQ

Please do not use chat terms. Example: avoid using "grt" instead of "great".

Submit
Load More..
You can do it
  1. Income distribution effects:
  2. Price discrimination is possible:
  3. The costs faced by the firm against fixed factors are:
  4. Consumers Surplus can also be defined as:
  5. Nash equilibrium says:
  6. A monopoly producer usually earns:
  7. In Recardian theory of value, the stress has been made on:
  8. The slutsky demand curve includes:
  9. MC = MR = AC = AR shows the long run equilibrium position of the:
  10. We can obtain consumers demand curve from:
  11. Revealed Preference Theory was presented by:
  12. In cournot model, at equuilibrium when MC = MR, the elasticity of demand is:
  13. A high value of cross-elasticity indicates that the two commodities are:
  14. The marshallian indirect utility function in the form of equation is:
  15. When at a given price, the quantity supplied of a commodity is more than the quantity demanded, there…
  16. In first degree price discrimination, monopolist takes away :
  17. In short run:
  18. If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of…
  19. Average cost means:
  20. Stable cobweb model is a:
  21. In Nash Equilibrium:
  22. In Nash equilibrium, a player:
  23. Production indifference curve (isoquant) is a curve which shows:
  24. The price under perfect competition is settled by:
  25. In the case where two commodities are good substitutes then cross elasticity will be:
  26. Change in demand (rise and fall of demand) is:
  27. The production process is:
  28. Moving along an indifference curve leaves the consumer:
  29. Gold is bought and sold in a:
  30. When a consumer reached at the point of saturation then marginal utility (MU) is: