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Who finalized the model of monopolistic competition?

A. Ricardo

B. Marshal

C. Chamberlin

D. Mrs. Robinson

Correct Answer : C.


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  1. The imaginary differentiation is attributed to difference in:
  2. In the case of a normal goods, the income effect:
  3. Law of Substitution in production was presented by:
  4. After reaching the saturation point consumption of additional units of the commodity cause:
  5. Utility is:
  6. In case of monopoly, the price charged against the additional unit is:
  7. Under price discrimination, the buyers must:
  8. The indifference curve technique:
  9. In monopolistic competition, the real differentiation in products is due to difference in:
  10. Which of the following is the work of A.C.Pigou?
  11. If demand increased and supply decreased then:
  12. An economic model describing the working of an economy consists of:
  13. A country is advised to devalue (reduce external value of) its currency only when its exports face:
  14. Marginal utility is only meant for:
  15. If less is demanded at the same price or same quantity demanded at a lower price, it is a case of:
  16. The falling part of total Utility (TU) curve shows:
  17. The minimization of costs subject to output requires equilibrium at the lowest:
  18. With which of the following concepts is the name of J.M.Keynes particularly associated?
  19. The advantage of using indifference curves rather than marginal utilities is:
  20. The addition or increment to the total cost involvesd in expanding or contracting output by one unit…
  21. The Purchasing Power Parity (PPP) Theory is presented by:
  22. If there are many firms producing similar but differentiated products, the competition is generally…
  23. When the demand curve is rectangular hyperbola, it represents:
  24. Formulation of an economic theory involves:
  25. The long run average cost curve is:
  26. Increase in demand occurs when:
  27. The ordinal approach was presented by:
  28. Income-elasticity of demand is expressed as:
  29. The total revenue curve for monopolist is the shape of:
  30. The MC curve cuts the AVC and ATC curves: