In monopoly, new firms:
Can enter and exit
Partially can enter and exit
Cannot enter
None of the above
Correct Answer :
C. Cannot enter
Related Questions
If the marginal utility is divided by the price of the commodity then it is called:
Real Marginal Utility
Gross Marginal Utility
Weighted Marginal Utility
Money Marginal Utility
Cross-demand curve shows:
The effect of a change in price of X on its demand
The effect of a change in price of X on the demand for Y
The effect of a change in price of Y on its demand
None of the above
MRSxy measures:
The amount of Y a consumer is willing to give up to obtain one additional unit of X and still remain on the same indifference curve
The amount of X a consumer is willing to give up to obtain one additional unit of Y and still remain on the same indifference curve
The amount of Y a consumer is willing to give up to obtain one additional unit of X and move to a higher indifference curve
The amount of X a consumer is willing to give up to obtain one additional unit of Y and move to a higher indifference curve
If less is demanded at the same price or same quantity demanded at a lower price, it is a case of:
Contraction of demand
Decrease in demand
Increase in demand
Extension of demand
At the point where the straight line from the origin is tangent to the TC curve, AC is:
Maximum
Minimum
Equal
Lower
An exceptional demand curve is:
Downward sloping
Upward sloping
Horizontal straight line
Vertical straight line
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:
Equal to one
Greater than one
Smaller than one
Zero
The advertisement and other selling activities:
Lessen the differentiation
Widen the differentiation
Does not effect the differentiation
All of the above
The Prisoners Dilemma was presented by A.W.Tucker in:
1910
1945
1900
1940
In perfect competition, the slope of the total revenue curve of a firm is equal to the:
Market price
AVC
TFC
AFC
When price increases and with it the total outlay on a commodity also increases, it is a case of:
Perfect elasticity (infinitely elastic)
Relative elasticity (greater than one elasticity)
Perfect inelasticity (zero elasticity)
Relative inelasticity (less than one elasticity)
When total revenue is maximum in monopoly, elasticity of demand is:
E =1
E >1
E <1
E =0
The coefficient of the price elasticity of demand is computed as the absolute value of the percentage change in quantity demanded divided by:
The change in price
The change in supply
The percentage change in supply
The percentage change in price
The long run average cost curve is:
Cup-shaped
Oval-shaped
Saucer-shaped
Glass-shaped
In second degree price discrimination, monopolist takes away :
All of the consumer surplus
All of the producer surplus
Some part of the consumer surplus
None of them
According to current thinking, the law of diminishing returns applies to:
All fields of production
Agriculture
Mining
Manufacturing
If the slope of the isoquant is equal to the slope of isocost, then isoquant is:
Concave to the origin
Convex to the origin
Tangent to the origin
None of the above
If a commodity sold under monopoly is got free of cost, then MC will be:
Zero
Identical with the MR
A horizontal straight line
Infinite
In second degree price discrimination, monopolist takes away :
All of the consumer surplus
All of the producer surplus
Some part of the consumer surplus
None of them
Income distribution effects:
The price of complements
The price of substitutes
The market demand for commodities
The individuals scale of performances
Cartel is associated with:
Collusive oligopoly
Non-collusive oligopoly
Cartel
Perfect competition
Marshallian demand function is also known as:
Utility demand function
Compensated demand function
Collective demand function
Relative demand function
Production function relates:
Cost to input
Wages to profits
Cost to output
Inputs to output
Under perfect competition, the average revenue, marginal revenue and price are shown:
By a same single curve
By three different curves
By downward sloping curve
None of the above
Which of the following is assumed to be constant when a supply curve is drawn:
Technology
Number of buyers in the market
Consumer income
Household tastes
Who first used the term Quasi-Rent?
David Ricardo
Alfred Marshal
J.S.Mill
Karl Marx
The competitive equilibrium leads to:
The firms producing with excess capacity
The firms producing at their minimum costs
Firms producing at a cost higher than the minimum
Some firms producing under decreasing costs and others under increasing costs
In arriving at stable equilibrium in cournot model, if one firm decreases output the other firm will:
Also decrease it
Increase it
Remain uneffected
None of the above
Duopoly is a market where there are:
Two sellers
A few sellers
Five sellers
Many sellers
The optimal strategy for a player is termed as:
Recessive strategy
Dormant strategy
Dominant strategy
Hidden strategy