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What is the correct answer?

4

In monopoly, when average revenue curve falls:

A. MR constant

B. MR rises

C. MR falls

D. MR is zero

Correct Answer :

C. MR falls


Related Questions

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4

Which of the following is assumed to be constant when a supply curve is drawn:

A. Technology

B. Number of buyers in the market

C. Consumer income

D. Household tastes

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4

Rotten eggs are:

A. Free goods

B. Economic goods

C. Luxury goods

D. None of the above

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4

The demand curve of ostentation goods (Veblen goods) will be:

A. Negatively sloped

B. Positively sloped

C. Parallel to X-axis

D. None of the above

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4

In dominant price leadership model, the dominant firm set the:

A. price

B. output

C. both a and b

D. none of the above

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The main objective of the firm is to:

A. Face losses

B. Avoid losses

C. Bear losses

D. Make economic decisions

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4

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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4

Who formulated the Post-Keynsian Theory of Distribution and Growth?

A. J.M.Keynes

B. N.Kaldor

C. C.P.Kindleberger

D. Irving Fisher

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4

If X and Y are close substitutes, a rise in the price of X will lead to:

A. Increase in demand for Y

B. Decrease in demand for Y

C. Decrease in demand for both X and Y

D. No change in demand for Y

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4

If the supply curve is not a straight line but curvilinear, the elasticity on all points of the supply curve is:

A. Equal

B. Different

C. Zero

D. Infinity

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4

To attain maximum profits during short-run a firm should produce the output that will:

A. Yield maximum total revenue

B. Minimize marginal cost

C. Maximize marginal cost

D. Equate marginal revenue with marginal cost

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4

In monopoly and perfect competition, TC curves are:

A. Different

B. Similar

C. Opposite

D. None of the above

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4

Price elasticity of demand is best defines as:

A. Change in the tastes of consumers at different prices

B. The rate of response of demand to a change in supply

C. The change in costs when output is increased by one unit

D. The responsiveness of demand to a change in price

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4

Neutral Technological Progress can be defined as:

A. Technological progress that causes to raise the marginal product of capital and labor in the same proportion

B. Technological progress that causes the marginal product of capital to increase relative to the marginal product of labor

C. Technological progress that causes the marginal product of labor to increase relative to the marginal product of capital

D. None of the above

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4

In case of monopoly, the slope of MR is:

A. Always three times than the slope of AR

B. Always double than the slope of AR

C. Always equal to the slope of AR

D. None of the above

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4

The slope of indifference curve shows:

A. Income level

B. Satisfaction level

C. Marginal rate of substitution

D. Demand level

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4

In the immediate run:

A. Supply curves are inelastic

B. Supply curves are perfectly elastic

C. Demand curves are elastic

D. Supply curves are elastic

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In second degree price discrimination, monopolist takes away :

A. All of the consumer surplus

B. All of the producer surplus

C. Some part of the consumer surplus

D. None of them

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4

Cartel is associated with:

A. Collusive oligopoly

B. Non-collusive oligopoly

C. Cartel

D. Perfect competition

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The output where TC = TR & AC = AR:

A. Break-even point

B. Load point

C. Shut-down point

D. Revenue cost point

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4

In case of budget line, we get pairs of two goods where consumers income is:

A. Fully spent

B. Half spent

C. Partially spent

D. Correctly spent

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4

If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then for this purchase:

A. Total utility will increase by 6 units

B. The marginal utility per rupee is 6

C. The consumer will buy more because marginal utility is positive

D. The consumer obtained an extra54 units

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4

Conditions of perfect competition ensure:

A. That each firm can influence the price

B. No single firm can influence the price

C. Any single firm can influence the supply condition in the market

D. Any single firm can influence both supply and price in the market

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4

The Prisoners Dilemma was presented by A.W.Tucker in:

A. 1910

B. 1945

C. 1900

D. 1940

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According to Robbins, economics is a:

A. Science of wealth

B. Science of national welfare

C. Science of optimality

D. Science of scarcity

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4

The monopolist who is producing the same output from two (or more than two) plants is concerned with:

A. Single-plant monopolist

B. Multi-plant monopolist

C. Two-plant monopolist

D. Some-plant monopolist

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4

In measuring price-elasticity:

A. Price is a dependent variable and quantity is an independent variable

B. Price is an independent variable and quantity is a dependent variable

C. Price and quantity both are independent variables

D. Price and quantity both are dependent variables

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4

Plumbing and pipe-fitting require many of the same skills. If the wage paid to pipe-fitters increased then the effect on the market for plumbers would probably be:

A. An increase in demand

B. A decrease in demand

C. An increase in supply

D. A decrease in supply

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4

The necessary condition of firms equilibrium requires:

A. dR/dQ + dC/dQ = 0

B. dR/dQ - dC/dQ = 0

C. dC/dQ - dR/dQ = 0

D. dR/dQ > dC/dQ > 0

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4

The total utility is gained by consuming:

A. The last unit of a good

B. All the units of a good

C. The first unit of a good

D. The average unit of a good

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In short run, a firm can change its:

A. Total production

B. Fixed production

C. Variable production

D. None of the above