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4

The non-price competition cartel is a:

A. stable cartel

B. unstable cartel

C. prominent cartel

D. special cartel

Correct Answer :

B. unstable cartel


Related Questions

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4

The advantage of using indifference curves rather than marginal utilities is:

A. We do not need to attach util values to consumption

B. Consumers can attain higher utility

C. It takes into account how much income the household has

D. We can determine how much of one good the consumer is willing to sacrifice in order to consume one more unit of another

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4

The budget constraint can be written as:

A. X.PX + Y.PY = 1

B. X.PX + Y.PY < 1

C. X.PX + Y.PY > 1

D. X.PX + Y.PY = 0

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4

At a point where a straight line demand curve meets the price axis (Y-axis), the elasticity of demand is:

A. Equal to one

B. Less than one

C. Equal to zero

D. Equal to infinite

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4

The total utility (TU) curve is:

A. Concave to X-axis

B. Convex to X-axis

C. Concave to Y-axis

D. Convex to Y-axis

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4

The difference between the average total cost and average variable cost as output increases will:

A. Increases

B. Remains the same

C. Diminishes

D. Zero

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4

The water diamond paradox was firstly resolved with the help of:

A. Labor theory of value

B. Individual theory of value

C. Producer theory of value

D. Consumer theory of value

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4

According to Chamberline, in monopolistic competition, differentiation is determined by:

A. Choices

B. Preferences

C. Both a and b

D. None of the above

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4

As the price of diamond is higher, so it has:

A. Higher marginal valuation for consumer

B. Lower marginal cost for producer

C. Higher marginal cost for producer

D. Both (a) and (c)

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4

If the price of coffee increases, you would predict that:

A. Demand curve for sugar will shift downward (leftward)

B. Supply curve for sugar will shift leftward (upward)

C. Demand curve for bread will shift downward (leftward)

D. None of the above

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4

If money income is given then consumer is in equilibrium when:

A. MU < P

B. MU >P

C. MU = P

D. MU = 0

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4

If both demand and supply were to increase then:

A. Quantity exchanged would fall and price would rise

B. Quantity exchanged and price would both fall

C. Quantity exchanged would rise and price might rise or fall

D. Quantity exchanged and price would both rise

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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

When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility and price is:

A. Increased

B. Equalized

C. Prominent

D. Zero

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4

MC = MR = AC = AR shows the long run equilibrium position of the:

A. Competitive firm

B. Oligopolistic firm

C. Monopolist firm

D. None of the above

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4

Monopolistic firm can fix:

A. Both price and output

B. Either price or output

C. Neither price nor output

D. None of the above

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4

Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which one of the following is a variable cost?

A. Cost of raw materials

B. Cost of equipment

C. Interest payment on past borrowing

D. Payment of rent on buildings

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4

LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while the fixed and variable factors:

A. Cannot be changed

B. Can be changed

C. Can partially be changed

D. None of the above

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4

Marshallian approach is also known as:

A. Cardinal approach

B. Ordinal approach

C. Consumer approach

D. Production approach

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4

If, at the prevailing price, more of a good is desired than is available for sale:

A. The price is below equilibrium

B. The price is at equilibrium

C. The price must fall

D. We cannot tell anything about the price

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4

When with a change in price the total outlay (expenditures) on a commodity remains constant, it is a case of:

A. Perfect elasticity (infinitely elastic)

B. Perfect inelasticity (zero elasticity)

C. Unit elasticity

D. Zero elasticity (infinitely inelastic)

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4

Price effect occurs on the higher IC in case of:

A. Slutsky approach

B. Hicksian approach

C. Marshallian approach

D. None of the above

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4

If the price of a product falls then quantity demanded tends to increase ceteris paribus because:

A. The MU/P ratio has decreased

B. Of the income and substitution effects

C. Consumers tend to feel poorer when prices fall

D. When price falls the demand curve shifts right

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4

The budget line is described by each of the following except:

A. Prices of products are assumed to be fixed

B. The consumer need not to spend all his income

C. Consumer income is assumed to be fixed

D. The slope represents relative prices

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4

The market demand for any commodity is the:

A. Average requirement for it in any given place

B. Amount of it wanted at any given price

C. Amount that people would like to buy during a period at different prices

D. Quantity needed to maintain a given standard of living

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4

If in the long run all factor inputs are increased three times and the resulting output is four times as before, it is a case of:

A. Decreasing returns to scale

B. Variable returns to scale

C. Constant returns to scale

D. Increasing returns to scale

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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

To get more revenue, a Finance Minister impose tax on that commodity which has:

A. Inelastic demand

B. Elastic demand

C. Unit elasticity

D. Zero elasticity

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4

If Cobb-Douglas production function is homogeneous of degree less than one (n<1), then it shows:

A. Constant returns to scale

B. Increasing returns to scale

C. Decreasing returns to scale

D. None of the above

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4

In Edgeworth model, price remains:

A. Constant

B. On increasing

C. Independent

D. Indeterminate

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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