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Which form of market structure is characterized by interdependence in decision-making as between the different competing firms?

A. Oligopoly

B. Perfect competition

C. Imperfect competition

D. None of the above

Correct Answer : A.


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  2. In short run:
  3. The difference between average cost and average revenue is:
  4. Ordinal approach includes arranging:
  5. Cross-elasticity of demand or cross-price elasticity between two substitutes will be:
  6. The price consumption curve (PCC) for commodity X is the locus of points of consumer equilibrium resulting…
  7. A fall in demand for the product under monopolistic competition will likely result in:
  8. A profit-maximizing monopolist in two separate markets will:
  9. Cross-elasticity of demand or cross-price elasticity between two perfect substitutes will be:
  10. Under pure monopoly, there will be:
  11. The right of individuals to control productive resources is known as:
  12. In the case of a giffen good, the income effect:
  13. In 1932, The nature and significance of economic science was written by:
  14. Contracts made by firms in cooperative games are:
  15. When elasticity of demand is less than one (e
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  17. If both demand and supply were to increase then:
  18. The long run average cost curve is the envelope of:
  19. In Prisoner Dilemma, the best choice of strategy is:
  20. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  21. When the demand curve is rectangular hyperbola, it represents:
  22. Robbins definition of economics was criticised by:
  23. According to Diamond Water Paradox diamonds are more expensive than water because:
  24. Law of Returns to Scale shows:
  25. The point where the supply and demand curves intersect on a graph determines:
  26. Identify the economist who first developed the theory of income determination in its modern form:
  27. Government planners play a central role in allocating resources:
  28. By increasing the price of its products above those of its competitors, a perfectly competitive seller:
  29. In the long run average costs curve, a firm can change:
  30. If two goods are perfect substitutes then IC will be: