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In market sharing cartel model, cartel determines the shares of:

A. the individuals

B. industry

C. firms

D. associations

Correct Answer :

C. firms


Related Questions

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In real life firms:

A. Loss because of past

B. Learn from past

C. Destroy because of past

D. None of the above

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In case of monopoly, when total revenue is maximum:

A. MR is positive

B. MR falls

C. MR rises

D. MR is zero

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An inferior commodity is one whose quantity demand decreases when income of the consumer:

A. Decreases

B. Increases

C. Remains constant

D. Zero

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In the case of superior (normal) commodity, the income elasticity of demand is:

A. Positive

B. Unitary

C. Negative

D. Infinite

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Any straight line supply which cuts the x-axis will have:

A. Zero elasticity

B. An elasticity greater than one

C. Unitary elasticity of supply

D. An elasticity less than one

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If production increases under constant returns to scale, the cost will:

A. Increase at a constant rate

B. Decrease at a constant rate

C. Increase at a variable rate

D. Decrease at a variable rate

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Which of the following is not a property of indifference curve?

A. Convex to the origin

B. Slopes downwards to the right

C. Parallel to each other

D. Cannot intersect each other

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In Nash Equilibrium:

A. Each player has a dominant strategy

B. No players have a dominant strategy

C. At least one player has a dominant strategy

D. Players may or may not have dominant strategies

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4

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:

A. Always

B. Never

C. When LAC is falling

D. Only at that level of output when LAC is at its minimum

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Inputs or Factors of production are defined as:

A. Productive resources such as labor and capital equipment that firms use to manufacture goods and services are called inputs or factors of production

B. Unproductive resources that do not take part in production process are called inputs or factors of production

C. Firms own resources are called inputs or factors of production

D. None of the above

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An income demand curve of an inferior good is:

A. Upward sloping

B. Downward sloping

C. Constant in slope

D. None of the above

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An optimum level of a firms output is:

A. Where marginal cost is minimum

B. Where average cost is minimum

C. Where both the marginal and the average cost curves are at their respective minimum

D. Where the firm earns the maximum profits

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4

Price discrimination occurs when:

A. Different prices are charged to different consumers for homogenous products

B. Same prices are charged for differentiated products

C. Different prices are charged for homogenous goods for successive units to the same customer

D. Any of the above condition is present

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4

The fixed cost of a firm:

A. Are fixed even in the long period

B. When expressed as an average, show a continuous decline with increase of output

C. Do not reflect diminishing marginal returns

D. None of the above

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Law of variable proportions is based on the assumption of:

A. Short period of time

B. Long period of time

C. Timeless production relationship

D. All of the above

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If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):

A. Both move together and reinforce each other

B. One moves and the other remains constant

C. Move in the opposite direction and neutralize each other

D. Both remain constant

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Who is the author of Trade Cycle ?

A. R.Nurkse

B. R.C.Mathews

C. W.A.Lewis

D. K.N.Raj

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The substitution effect works to encourage a consumer to purchase more of a product when the price of that good is falling because:

A. The consumers real income has increased

B. The consumers real income has decreased

C. The product is now relatively less expensive than before

D. Other products are now less expensive than before

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4

In the case of two factor inputs which are neither perfectly complementary nor perfect substitutes, the iso-product curve will be:

A. A downward sloping straight line

B. A downward sloping curve

C. An upward rising curve

D. Right angled iso-quants

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4

If a firm produces zero output in the short period then which statement is true?

A. Its total cost will be zero

B. Its variable cost will be positive

C. Its fixed cost will be positive

D. Its average cost will be zero

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4

The greater the percentage of income spent on a commodity:

A. The greater its elasticity is likely to be

B. The weaker its elasticity is likely to be

C. The unchanged its elasticity is likely to be

D. None of the above

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From analysis, it is clear that both Marshal and Walras market models are:

A. Unstable

B. Stable

C. Variable

D. Fluctuating

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The act of producing the output from more than one plant is concerned with:

A. Monopoly

B. Multi-plant monopoly

C. Bilateral monopoly

D. Price discrimination

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In non-constant sum game (non-zero sum game), if there are two parties then:

A. Both parties make better-off

B. Both parties make worse-off

C. Both parties become Neutral

D. Both parties can become better off or worse off

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The largest possible loss that a firm will make in the short run is:

A. Zero

B. Its total fixed cost

C. Its total variable cost

D. Equal to one

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The firm in cournot model:

A. face costs

B. face taxes

C. donot face taxes

D. donot face costs

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If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then the demand curve for the commodity will be:

A. Horizontal

B. Vertical

C. Positively sloped

D. Negatively sloped

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In income effect, we:

A. Move to another indifference curve

B. Move along given indifference curve

C. Move to lower indifference curve

D. Move to upper indifference curve

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The situation in between the extremes of the govt. controlled, planned economy and the perfectly free, unplanned economy is known as:

A. Developed economy

B. Laissez-fair economy

C. Mixed economy

D. Capitalistic economy

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Consumer surplus is the difference between

A. Price demanded and price paid

B. Price quoted and price actually paid

C. Price that a consumer is willing to pay and the price actually paid

D. None of the above