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The firm in cournot model:

A. face costs

B. face taxes

C. donot face taxes

D. donot face costs

Correct Answer : D.


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  1. In monopoly and perfect competition, TC curves are:
  2. Demand for a commodity is elastic when it has
  3. Equilibrium of a discriminating monopolist requires the fulfillment of which one of the following conditions?
  4. Cross-elasticity of demand or cross-price elasticity between two perfect substitutes will be:
  5. Liquidity of Preference Theory was introduced by:
  6. If the price of Pepsi Cola goes down, you would predict:
  7. A market demand schedule is obtained by adding individual demand schedules:
  8. Cross-elasticity of demand or cross-price elasticity between two perfect complements will be:
  9. The expansion point is attained by joining:
  10. The supply curve for the short-run competitive firm is the same as:
  11. The economic problem of determining the combination of inputs yielding lowest cost for producing a given…
  12. Efficient allocation of resources is achieved to a greater extent under:
  13. In Prisoner Dilemma, the best choice of strategy is:
  14. One way the government can induce a monopolist to expand his output is by imposing:
  15. The alternative of profit maximization theory is:
  16. Elasticity (E) expressed by the term, 8 >E>1, is:
  17. The necessary condition of firms equilibrium requires:
  18. If less is demanded at the same price or same quantity demanded at a lower price, it is a case of:
  19. In monopolistic competition, the aim of the firm is to:
  20. The concept of product differentiation was firstly introduced by:
  21. In sweezy model (kinked demand curve model), the overall increase in costs of production:
  22. If the price of product increases and in the result the demand for product B also increases then:
  23. With elasticity of demand, the:
  24. In income effect, we:
  25. The Strategy of Economic Development is the work of:
  26. Along an isoquant, output remains same, and capital labor ratio:
  27. MRSxy measures:
  28. Each firm in cournot model assumes that its competitor will:
  29. On all points of budget (price) line:
  30. If cross-elasticity of one commodity for another turns out to be zero, it means they are: