Dumping is international discriminating:
Monopoly
Oligopoly
Duopoly
None of the above
Correct Answer :
A. Monopoly
Related Questions
When the slope of a demand curve is zero (also known as vertical demand curve) then elasticity will be:
Zero (perfectly inelastic)
Equal to one (unitary elastic)
Infinite (perfectly elastic)
None of the above
The marginal revenues are derivatives of:
TR function
AR function
MR function
AP function
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
The CES production function shows:
Decreasing return to scale
Increasing return to scale
Constant return to scale
None of the above
The point on which the average cost is minimum in a firm, short run average cost curve will also be the minimum cost point on the firms long-run average cost curve. This is true:
Always
Never
When LAC is falling
Only at that level of output when LAC is at its minimum
Marshallian demand function is also known as:
Utility demand function
Compensated demand function
Collective demand function
Relative demand function
The main objective of the firm is to:
Face losses
Avoid losses
Bear losses
Make economic decisions
When the income of consumer increases then budget line will:
Get steeper
Shift parallel to right
To get flatter
To shift upward
The Strategy of Economic Development is the work of:
S.Kuznets
H.Liebenstein
A.O.Hirshman
Alfred Marshal
Which of the following is called Gossens first law?
Law of production
The Law of Equi-Marginal Utility
The Law of Diminishing Marginal Utility
Law of Variable Proportions
In collusive olligopoly, the firms may make:
Open agreements
Secret agreements
Both a and b
None of the above
Conditions of perfect competition ensure:
That each firm can influence the price
No single firm can influence the price
Any single firm can influence the supply condition in the market
Any single firm can influence both supply and price in the market
The concept of industry in monopolistic competition has been replaced by:
Firm
Product group
Producers
Shopkeepers
The firm is said to be in equilibrium when the difference between revenue and cost is:
Maximum
Minimum
Zero
One
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
Whenever a group of monopolistic competitors attains equilibrium, the firms in this group usually:
Charge different prices, but produce identical outputs
Produce different outputs, but charge identical prices
Charge different prices, and produce different outputs
None of the above
In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
With using indifference curves
With using MRS
Without using indifference curve
None of the above
By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
Reduces its revenues
Increases its revenues
Can sell nothing
None of the above
An individual consumers demand is not determined by:
Price of the commodity
Price of the substitutes
His household income
Size of countrys population
In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded that results if consumers utility or welfare is kept constant is referred to as the:
Utility effect
Budget line effect
Substitution effect
Income effect
Economics define technology as:
Societys knowledge of production
Applied science
Knowledge of science and mathematics
None of the above
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
In second degree price discrimination, monopolist takes away :
All of the consumer surplus
All of the producer surplus
Some part of the consumer surplus
None of them
In real life, brand loyalty is a barrier to:
Enter the new firms
Exit the new firms
Both a and b
None of the above
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
Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
Where the gap between the two is the smallest
Where the gap between the two is the greatest
Where the two become equal
None of the above
The firm producing at the minimum point of the AC curve is said to be:
Operating under diminishing cost
Making optimum use of plant capacity
Operating at excess capacity
Operating under increasing costs
In substitution effect, we:
Move to another indifference curve
Move along given indifference curve
Move to a higher indifference curve
Move to a lower indifference curve
When sales tax is imposed on monopolist, its:
Output is effected
Equilibrium is effected
Input is effected
Reputation is effected
The situation in between the extremes of the govt. controlled, planned economy and the perfectly free, unplanned economy is known as:
Developed economy
Laissez-fair economy
Mixed economy
Capitalistic economy