In Bertrand model, the entry of new firms is:

A. banned

B. allowed

C. partially allowed

D. none of the above

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  1. When a consumer is in equilibrium then slope of indifference curve is:
  2. The costs faced by the firm against fixed factors are:
  3. If a straight line supply curve makes an intercept on the Y-axis, elasticity of supply is:
  4. Cross-elasticity of demand or cross-price elasticity between two substitutes will be:
  5. When the income of consumer increases then budget line will:
  6. Total profits are maximized at the point where:
  7. The vertical demand curve for a commodity shows that its demand is:
  8. According to Saint Thomas Aquinas value is determined by God, but prices by:
  9. In real life, brand loyalty is a barrier to:
  10. The factors of production in perfect competition are:
  11. The effect of consumer boycotts usually is:
  12. The effects according to which people use those goods which are concerned with distinctive standard…
  13. The amount of income left over for a consumer in equilibrium is :
  14. Identify the economist who first developed the theory of income determination in its modern form:
  15. Which of the following is not characteristic of perfect competition?
  16. When total product increases at a decreasing rate:
  17. In which case the elasticity shown by the different points of a curve is the same?
  18. According to Marshallian approach, utility:
  19. Under which of the following forms of the market structure does a firm have no control over the price…
  20. Which of the following conditions is met in the long-run equilibrium in monopolistic competition, where…
  21. The situation in between the extremes of the govt. controlled, planned economy and the perfectly free,…
  22. The Chamberline model recognizes mutual:
  23. Identify the author of The Principles of political Economy and Taxation:
  24. In case of monopoly, both AR and MR fall, but MR falls:
  25. According to M.Kalecki, the true measure of the degree of monopoly power is the:
  26. Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity…
  27. The main contribution of Prof.Robbins is in the field of:
  28. The monopolist often lead to exploitation of:
  29. The proportionality rule in production requires that the ratios of MP and factor prices are:
  30. The cost curves of the firm shift due to changes in: