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4

In monopolistic competition, the individual demand curve is also known as:

A. Planned products curve

B. Planned material curve

C. Planned costs curve

D. Planned sales curve

Correct Answer :

D. Planned sales curve


Related Questions

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4

The long-run average cost is based on the fact that:

A. None of the factors are variable in the long-run

B. All factors are perfectly divisible in the long-run

C. None of the factors is divisible

D. Management factor is indivisible while all other factors are divisible and can be varied in long-run

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4

Identify the economist who first developed the theory of income determination in its modern form:

A. Paul A.Samuelson

B. J.M.Keynes

C. Joan Robinson

D. Dr.mehboob ul Haq

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4

The feasible part of the demand curve for the monopolist who is charging high price will be:

A. The elastic part of a demand curve

B. The inelastic part of a demand curve

C. The constant elastic part of the demand curve

D. None of the above

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4

If a good is an inferior good then an increase in incomes of the consumers will:

A. Increase demand for the good

B. Increase supply of the good

C. Reduce the equilibrium price of the good

D. None of the above

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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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4

Chamberline introduces the concept of:

A. V-shaped selling cost

B. U-shaped selling cost

C. V-shaped purchasing material

D. U-shaped purchasing material

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4

The word ECONOMICS is derived from the Greek terms meanings:

A. Political economy

B. Household Management

C. Production and consumption

D. Financial Accounting

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4

A firm in a position of equilibrium is supposed to be maximizing:

A. Output

B. Sales

C. Profits

D. None of the above

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4

If the commodity is inferior then:

A. Income effect is positive but substitution effect is negative

B. Income effect is negative but substitution effect is positive

C. Both income effect and substitution effect are negative

D. Both income effect and substitution effect are positive

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4

The entry of new firms in cournot model is:

A. Banned

B. Free

C. Partially free

D. Allowed

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4

Who is the author of Choice of Technique?

A. K.N.Raj

B. Amartiya Sen

C. A.C.Pigou

D. Alfred Marshal

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4

The monopolist firm is price setter. The price setter firm is one which:

A. Can influence the market price

B. Cannot influence the market price

C. Can sell at zero price

D. None of the above

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4

Revealed Preference Theory was presented by:

A. Ricardo

B. Adam Smith

C. Pigou

D. Samuelson

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4

For the equilibrium of the firm and the industry in the short period in a competitive market, the condition is:

A. P = AC

B. P = MC

C. AC = MC

D. MC = TR

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4

If the price of Pepsi Cola goes down, you would predict:

A. An increase in supply of coca cola

B. A decrease in supply of coca cola

C. An increase in demand for coca cola

D. A decrease in demand for coca cola

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4

Iso-product curve (isoquant) shows:

A. A given quantity of output that can be produced by various combinations of two inputs

B. Varying quantities of output that can be produced by the same combination of two factors

C. Combination of two factors that can give the least cost of production

D. Combination of two goods that cost the same amount to the producer

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4

A maximin strategy:

A. Maximizes the minimum gain that can be earned

B. Maximizes the gain of one player, but minimizes the gain of the opponent

C. Minimizes the maximum gain that can be earned

D. None of the above

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4

The addition or increment to the total cost involvesd in expanding or contracting output by one unit is called:

A. Fixed cost per unit

B. Variable cost per unit

C. Total cost per unit

D. Marginal cost

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4

The proportionality rule in production requires that the ratios of MP and factor prices are:

A. Doubled

B. Equalized

C. Not equalized

D. None of the above

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4

Nash equilibrium is applicable in case of:

A. Cournot model

B. Edgeworth model

C. Chamberline model

D. Sweezy model

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4

The difference between accounting profits and economic profits is:

A. Implicit costs

B. Explicit costs

C. Fixed costs

D. Variable costs

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4

Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall in its price:

A. Equal to one

B. Greater than one

C. Smaller than one

D. Zero

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4

In monopolistic competition (also in kinked demand curve model), a firm sells the amount where:

A. Individual demand curve (IDC) is equal to proportional demand curve (PDC)

B. Individual demand curve (IDC) is greater than proportional demand curve (PDC)

C. Individual demand curve (IDC) is less than proportional demand curve (PDC)

D. None of the above

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4

In case of monopoly:

A. MR

B. MR>AR

C. MR=AR

D. AR=0

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4

In case of short-run, the supply curve of an industry is the horizontal summation of:

A. Marginal cost curves

B. Average cost curves

C. Total cost curves

D. None of the above

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4

In modern cost theory, AVC= b1 and MC= b1 in the range of:

A. Excess capacity

B. Reserve capacity

C. Limited capacity

D. None of the above

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4

A demand curve which is horizontal and parallel to x-axis represents:

A. Infinitely elastic demand

B. Infinitely inelastic demand

C. Relatively elastic demand

D. Relatively inelastic demand

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4

At low prices, demand is likely to be:

A. More elastic

B. Less elastic

C. Unit elastic

D. Perfectly inelastic

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4

In long run, a firm can change:

A. Fixed factors

B. Variable factors

C. Both of them

D. None of them

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4

The factors of production in perfect competition are:

A. Stagnant

B. Mobile

C. Immobile

D. Rare