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In cournot model firms:

A. Cannot make price adjustments

B. Can make price adjustments

C. Can adjust number of customers

D. None of the above

Correct Answer : A.


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  1. The Lambda or Langrange Multiplier is a:
  2. In monopolistic competition, the aim of the firm is to:
  3. Income distribution effects:
  4. The reserve capacity in administration is advocated on the ground that demand for a product will:
  5. A firm enjoys maximum control over the price of its product under:
  6. In real life firms:
  7. Because of selling costs, the demand curve of a firm shifts:
  8. Rational economic behavior on the part of the consumer means that he will:
  9. A demand curve which is horizontal and parallel to x-axis represents:
  10. When total product increases at a decreasing rate:
  11. In the long-run competitive equilibrium:
  12. Indifference curves reflect:
  13. The model which gives us information about price and output changes in different periods is:
  14. In monopolistic competition, the real differentiation in products is due to difference in:
  15. If a straight line supply curve makes an intercept on the Y-axis, elasticity of supply is:
  16. If two households have identical preferences but different incomes then:
  17. In second degree price discrimination, monopolist takes away :
  18. Theory of revealed preference is based on:
  19. If the price of Pepsi Cola goes down, you would predict:
  20. Which one of the following is also known as Plant Curves:
  21. Which is not a central problem of an economy?
  22. Most of the supply curves with which the average consumer deals are:
  23. The Prisoners Dilemma was presented by A.W.Tucker in:
  24. When the demand curve is rectangular hyperbola, it represents:
  25. One way the government can induce a monopolist to expand his output is by imposing:
  26. The right of individuals to control productive resources is known as:
  27. According to Diamond Water Paradox diamonds are more expensive than water because:
  28. In constant sum game (zero sum game), if there are two parties then:
  29. The study of economics just in theoretical way is called:
  30. The concept of industry in monopolistic competition has been replaced by: