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Efficient allocation of resources is likely to be achieved under:

A. Monopoly

B. Monopolistic competition

C. Perfect competition

D. Any market form

Correct Answer : D.


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  2. In cournot model, firms face:
  3. For a commodity giving large consumers surplus, the demand will be:
  4. Abstinence or Waiting theory of Interest was presented by:
  5. If a firm produces zero output in the short period then which statement is true?
  6. An optimum level of a firms output is:
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  8. Under which of the following forms of the market structure does a firm have no control over the price…
  9. Total variable cost curve:
  10. In Recardian theory of value, the stress has been made on:
  11. After reaching the saturation point consumption of additional units of the commodity cause:
  12. Elasticity (E) expressed by the term, 1>E>0, is:
  13. In the case of superior (normal) commodity, the income elasticity of demand is:
  14. If the price of product A decreases and in the result the demand for product B increases then we can…
  15. When price decreases and with it the total outlay on a commodity also decreases, it is a case of:
  16. In second degree price discrimination, monopolist takes away :
  17. In the case of complements, the cross demand curve slopes:
  18. Consumers are likely to get a variety of similar goods under:
  19. An income demand curve of an inferior good is:
  20. The short-run periods in monopolistic competition are:
  21. Extension (expansion) of demand means:
  22. The law of demand is most directly a result of:
  23. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  24. The consumer is in equilibrium at the where:
  25. Variable cost includes the cost of:
  26. By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
  27. Utility is:
  28. The Law of Equi-Marginal Utility refers to:
  29. Change in quantity demanded refers to:
  30. Cross-elasticity of demand or cross-price elasticity between two substitutes will be: