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Consumers are likely to get a variety of similar goods under:

A. Monopoly

B. Perfect competition

C. Duopoly

D. Monopolistic competition

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  1. The costs faced by the firm against fixed factors are:
  2. Economic problems arise because:
  3. An indifference curve slopes down towards right since more of one commodity and less of another result…
  4. The concept of product differentiation was firstly introduced by:
  5. Whish of the following represents the average revenue curve of a firm?
  6. In short run:
  7. If the commodity is inferior then:
  8. The average cost curve is a geometrical illustration of:
  9. Who developed the concept of Representative Firm?
  10. MC is given by:
  11. In cournot model, firms make decisions separately regarding:
  12. The long run average cost curve is the envelope of:
  13. The cost of firms in cournot model are:
  14. Any expansion in output by a firm in the short period will always reduce the:
  15. Which of the following models are associated with non-collusive oligopoly?
  16. In cournot model, firms sell:
  17. Which is the first-order condition for the profit of a firm to be maximum?
  18. Under the perfect competition, the transportation cost:
  19. If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then…
  20. A monopolist has control over the price he charges for his product. He will be able to maximize his…
  21. The largest possible loss that a firm will make in the short run is:
  22. If production increases under increasing returns to scale, the cost will:
  23. A monopolist will fix the equilibrium output of his product where the elasticity of his average revenue…
  24. In long run, a firm can change:
  25. Formulation of an economic theory involves:
  26. The situation in between the extremes of the govt. controlled, planned economy and the perfectly free,…
  27. A straight line, downward-sloping demand curve implies that, as price falls, the elasticity of demand:
  28. When at a given price, the quantity demanded of a commodity is more than the quantity supplied, there…
  29. In Prisoners Dilemma, both the prisoners are interrogated:
  30. Government planners play a central role in allocating resources: