Discriminating monopoly implies that the monopolist charges different prices for his commodity:
From different groups of consumers
For different uses
At different places
Any of the above
Correct Answer :
D. Any of the above
Related Questions
The behavior of MC curve is determined by the behavior of the:
AC curve
SC curve
TC curve
None of the above
In monopoly and perfect competition, TC curves are:
Different
Similar
Opposite
None of the above
An indifference curve normally slopes downward from:
Left to right
Right to left
Both of them
None of them
With an increase in income, consumer is expected to buy more of:
An inferior good
A giffen good
A normal(or superior) good
None of the above
A normal profit is:
A zero economic profit
Revenues less explicit cost
About 10% for most industries
A zero accounting profit
In the theory of firm, Chamberline presented the idea of:
Rising cost
Falling cost
Rising input
Falling input
With the expansion of output, the short run average cost curve, beyond a point, starts rising because:
Average fixed cost increases sharply
More production yields lower per unit price
The law of variable proportions applies to short run production
Sales expenses become much larger
Monopolistic firm can fix:
Both price and output
Either price or output
Neither price nor output
None of the above
When a consumer is in equilibrium then slope of indifference curve is:
Equal to the slope of budget line
Greater than the slope of budget line
Smaller than the slope of budget line
Parallel to the slope of budget line
The main contribution of Alfred Marshal is in the field of:
Research in mathematical economics
Economics of labor
Theory of production
Theory of demand
Which of the following formulae explain the term average revenue?
Total units /No. of Revenues
Total Revenue/No. of Units
Marginal Revenue × Units
Total Units/ Price
The arc elasticity is the measure of average elasticity at the mid-point of the chord and connects:
Two points on demand curve
Two points on supply curve
Many points on demand curve
Many points on demand curve
Time Preference Theory of Interest was presented by:
Adam Smith
Carl Menger
Ruskin
J.B.Say
All the firms with identical costs under perfect competition well, in the long-run, earn only:
Normal profits
Abnormal profits
Differential profits
No profits
In a socialist (communist) economy the invisible hand:
Guides most resource allocation decisions
Operates effectively only in the labor market
Operates effectively only in the market for capital
Is prevented from operating effectively
The Input-Output Analysis was originated by:
W.W. Leontief
E.D.Domar
R.G.D.Allen
J.M.Keynes
In discriminating monopoly (price discrimination), the elasticity of demand of product in two markets are:
Different
Same
Zero
None of the above
Average cost means:
Cost of the average units
Cost of the last units of average
Cost of the unit of production
Total cost marginal cost
The monopolist who is producing the same output from two (or more than two) plants is concerned with:
Single-plant monopolist
Multi-plant monopolist
Two-plant monopolist
Some-plant monopolist
In price leadership, like leader, the follower firm may:
also maximize its profits
not maximize its profits
maximize its costs
none of the above
The basic and essential economic problems in a community are related to choice and:
Freedom
Scarcity
Social class
Politics
In the case of substitutes, the cross demand curve slopes
Downwards to the right
Upwards to the right
Backwards to the right
Inwards at the bottom
We get constant returns to scale when:
a = ½
� = ½
Both of them
None of them
Which is not a central problem of an economy?
What to produce
How to produce
How to maximize private profit
For whom to produce
At the shut-down point in perfect competition:
P = AVC
TR =TVC
The total losses of the firm equal TFC
All of the above
Excess capacity is not found under:
Monopoly
Monopolistic competition
Perfect competition
Oligopoly
In Edgeworth model, if price falls below competitive price, the demand is:
More than maximum output
More than minimum output
Less than maximum output
Less than minimum output
A firm will be in equilibrium when the lowest isocost is:
Tangent to the lowest isoquant
Tangent to the given isoquant
Above the given isoquant
Below the given isoquant
Price discrimination occurs when:
Different prices are charged to different consumers for homogenous products
Same prices are charged for differentiated products
Different prices are charged for homogenous goods for successive units to the same customer
Any of the above condition is present
Under price discrimination, the buyers must:
Be similar
Not be similar
Equal
None of the above