Description : Same price prevails throughout the market under - (1) perfect competition (2) monopoly (3) monopolistic competition (4) oligopoly
Last Answer : (1) perfect competition Explanation: Under perfect competition, the control over price is completely eliminated because all firms produce homogeneous commodities. This condition ensures that the same price prevails in the market for the same commodity.
Description : Under perfect competition, price of the product A.Can be controlled B.Cannot be controlled C.Can be controlled within certain limit D.None of the above
Last Answer : B.Cannot be controlled
Description : Same price prevails throughout the market under (1) perfect competition (2) monopoly (3) monopolistic competition (4) oligopoly
Last Answer : perfect competition
Description : Which of the following statement is true (a) Monopolist are price takers ; (b) Monopoly firm earn abnormal profits; (c) A Monopoly firm faces straight demand line ; (d) Supply curve of a monopoly firm is positive sloped
Last Answer : (a) Monopolist are price takers ;
Description : in case of perfect competition a firm is: A. Price taker B. Independent C. Free to fire prices D. None of these
Last Answer : ANSWER: A
Description : Which of the following is not characteristic of perfect competition? A. Heterogeneous Product B. Each seller is a price taker C. Freedom of entry and exit D. Perfect information about Prices
Description : One of the essential conditions of perfect competition is : (1) product differentiation (2) multiplicity of prices for identical products at any one time. (3) many sellers and a few buyers. (4) Only one price for identical goods at any one time.
Last Answer : (4) Only one price for identical goods at any one time. Explanation: The fundamental condition of perfect competition is that there must be a large number of sellers or firms. ... perfect competition, the control over price is completely eliminated because all firms produce homogeneous commodities.
Description : In which of the following market forms, a firm does not exercise control over price? (1) Monopoly (2) Perfect competition (3) Oligopoly (4) Monopolistic competition
Last Answer : (2) Perfect competition Explanation: In perfect competition, the existence of a large number of firms producing and selling the product ensures that an individual firm exercises no influence over the price ... a position to influence the price of the product by the increasing or reducing its output.
Description : Price and output are determinates in market structure other than - (1) monopoly (2) perfect competition (3) oligopoly (4) monopsony
Last Answer : (2) perfect competition Explanation: Perfect competition is a form of market in which there are a large number of buyers and sellers competing with each other in the purchase and sale of goods ... 's output is perfectly elastic. Product differentiation holds the key in this type of market structure.
Description : Compared to the case of perfect competition, a monopolist is more likely to: a. charge a higher price b. produce a lower quantity of the product c. make a greater amount of economic profit d. all of the above
Last Answer : d. all of the above
Description : Which of the following statement is true (a) In perfect competition Average and Marginal revenue are identical (b) In perfect competition Average and Marginal cost are identical (c) In perfect competition ... cost are identical (d) In perfect competition only normal profit can be earned by a firm
Last Answer : (a) In perfect competition Average and Marginal revenue are identical
Last Answer : Perfect competition
Description : Price and output are determinates in market structure other than (1) monopoly (2) perfect competition (3) oligopoly (4) monopsony
Last Answer : Only one price for identical goods at any one time.
Description : Under perfect competition market, maximum profit is obtained when
Last Answer : Ans. Marginal Return = Marginal Cost
Description : Tooth paste is a product sold under : (1) Monopolistic Competition (2) Perfect Competition (3) Monopoly (4) Duopoly
Last Answer : (1) Monopolistic Competition Explanation: Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another as goods but not perfect substitutes ... (e) market power; and (f) Buyers and Sellers do not have perfect information.
Description : Under Perfect Competition - (1) Marginal Revenue is less than the Average Revenue (2) Average Revenue is less than the Marginal Revenue (3) Average Revenue is equal to the Marginal Revenue (4) Average Revenue is more than the Marginal Revenue
Last Answer : (3) Average Revenue is equal to the Marginal Revenue Explanation: Perfect competition describes markets such that no participants are large enough to have the market power to set the price of a homogeneous ... , as output will always occur where marginal cost is equal to marginal revenue (MC=MR).
Description : The equilibrium of a firm under perfect competition will be determined when - (1) Marginal Revenue > Average Cost (2) Marginal Revenue > Average Revenue (3) Marginal Revenue = Marginal Cost (4) Marginal Cost > Average Cost
Last Answer : (3) Marginal Revenue = Marginal Cost Explanation: 173. (3) When the marginal revenue productivity of a factor is equal to the marginal- cost (MR=MC) of the factor, the firm will be in ... revenue and marginal revenue (P = AR = MR) is the standard condition for a perfectly competitive firm.
Description : Different firms constituting the industry, produce homogeneous goods under (1) monopoly (2) monopolistic competition (3) oligopoly (4) perfect competition
Last Answer : (4) perfect competition Explanation: The fundamental condition of perfect competition is that there must be a large number of sellers or firms. Homogeneous Commodity is the second fundamental condition ... are homogeneous and identical. In other words, they are perfect substitutes for one another.
Description : Under which market condition do firms have excess capacity? (1) Perfect compettion (2) Monopolistic competition (3) Duopoly (4) Oligopoly
Last Answer : (2) Monopolistic competition Explanation: Unlike a perfectly competitive firm, a monopolistically competitive firm ends up choosing a level of output that is below its minimum efficient scale. When ... This excess capacity is the major social cost of a mo-nopolistically competitive market structure.
Description : Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its - (1) long-run marginal cost curve (2) long-run average cost curve (3) long-run average variable cost curve (4) long-run average revenue curve
Last Answer : (2) long-run average cost curve Explanation: Under perfect competition, the firms operate at the minimum point of long-run average cost curve. In this way, the actual longrun output of ... ideal output. This gives the mea-sure of excess capacity which lies unutilized under imperfect competition.
Description : Buyers and Sellers will have perfect knowledge of market conditions under - (1) Duopoly (2) Perfect competition (3) Monopolistic competition (4) Oligopoly
Last Answer : (1) Duopoly Explanation: Complete market information is one of the main features of Perfect Competition. This condition implies close contact between buyers and sellers. Both of them possess complete knowledge ... being bought and sold, and the prices at which others are prepared to buy or sell.
Description : Demand curve of a firm under perfect competition is : (1) horizontal to ox-axis (2) negatively sloped (3) positively sloped (4) U - shaped
Last Answer : (1) horizontal to ox-axis Explanation: Under Perfect Competition, the firm faces a horizontal demand curve. It can sell any quantity desired at the market price, but cannot sell anything above the market price.
Description : Under which market conditions “products of the sellers are differentiated yet they are close substitutes of each other” ? (a) Monopolistic Competition (b) Monopoly (c) Perfect Competition (d) None of the above
Last Answer : (b) Monopoly
Description : Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its?
Last Answer : Long run average cost curve
Description : What do you mean by under conditions of perfect competition in the product market? a) MRP=VMP b) MRP>VMP c) VMP>MRP d) None of the above
Last Answer : Answer- a
Description : Buyers and Sellers will have perfect knowledge of market conditions under (1) Duopoly (2) Perfect competition (3) Monopolistic competition (4) Oligopoly
Last Answer : Duopoly
Description : The equilibrium of a firm under perfect competition will be determined when (1) Marginal Revenue > Average Cost (2) Marginal Revenue > Average Revenue (3) Marginal Revenue = Marginal Cost (4) Marginal Cost > Average Cost
Last Answer : Marginal Revenue = Marginal Cost
Description : Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its (1) long-run marginal cost curve (2) long-run average cost curve (3) long-run average variable cost curve (4) long-run average revenue curve
Last Answer : long-run average cost curve
Description : Demand curve of a firm under perfect competition is : (1) horizontal to ox-axis (2) negatively sloped (3) positively sloped (4) U – shaped
Last Answer : horizontal to ox-axis
Description : Under Perfect Competition (1) Marginal Revenue is less than the Average Revenue (2) Average Revenue is less than the Marginal Revenue (3) Average Revenue is equal to the Marginal Revenue (4) Average Revenue is more than the Marginal Revenue
Last Answer : Average Revenue is equal to the Marginal Revenue
Last Answer : Monopolistic Competition
Description : Under which market condition do firms have excess capacity? (1) Perfect competition (2) Monopolistic competition (3) Duopoly (4) Oligopoly
Last Answer : Monopolistic competition
Description : Does the US need similar safe-selfie signs? Are selfie-takers really that oblivious?
Last Answer : answer:Sounds like a desperate attempt to stop things like the one you mentioned from happening. But I don't think that will make some selfie-crazed idiots change their mind. They are all about ... selfies. These same people still risk their life again after the incidents. They just can't learn.
Description : Grammatical help with a paper, any takers?
Last Answer : I’ll look at it.
Description : Who will be the penalty takers for each national team in the forthcoming FIFA World Cup?
Last Answer : answer:Off the top of my head I only know a few i'm afraid. England : Frank Lampard Spain : David Villa France : Thierry Henry Italy : Andrea Pirlo Brazil : Kaka Argentina : Leo Messi USA : ... 't let England lose on penalties again, I couldn't take it.Looking forward to spanking the yanks :¬}
Description : If we were being held hostage and death was imminent would you join me in uprising against the hostage takers?
Last Answer : Hell ya!
Description : Looking for some suggestions on my Undergrad Art History thesis topic, any takers?
Last Answer : I think we all love Banksy because he makes us think, and makes us laugh. Also, Shepherd Fairy shows us that just because something starts as graffiti doesn't mean it can't turn into something awesome. ... here you could talk to, and lots of questions that have been asked about it before. Good luck!
Description : Any takers on what I should do with exterior mods for my car. And some interior mods?
Last Answer : Your links aren’t working, but have you looked at Golf mod sites? There are sites for practically every model of car, I think, and they seem to have good ideas. Usually, the participants are total fanboys and will go into excruciating detail about what they did and how they did it.
Description : Just wanted to get some Celtic love....any takers?
Last Answer : I’m too happy to think.
Description : Why did it take "risk takers" to bring jobs to southwest Detroit What did these risk takers do?
Last Answer : Federico has two samples of pure water—sample X and sample Y. Sample X has a volume of 1 L, and sample Y has a volume of 10 L. How do the boiling points of these two samples compare?
Description : Who are the words stressful and buzzing about?
Last Answer : People who eat when they're stressed are suppressing that stress. Eating makes them feel good. It is dangerous because it is easy to gain weight that way. And the rogue who eats in secret.
Description : Have you taken any vitamins? I'm not taking it now.
Last Answer : I started taking vitamin C, but I'm still a supporter of natural vitamin intake. Beets, apples, kiwi
Description : The two groups of order takers are A)current customer salespersons and new -business salespersons. B)missionary salespersons and trade salespersons. C)inside order takers and field order takers. D)trade salespersons and technical salespersons. E)advisory order takers and support order takers.
Last Answer : E)advisory order takers and support order takers.
Description : Which is the main difference between perfect competition and monopolistic competition?
Last Answer : In monopolistic competition, sellers can profit from the differences between their products and other products.
Description : Which of the following is not a condition for perfect competition?
Last Answer : Sellers offer a wide variety of products
Description : In case of perfect competition: A. P = AR > MR B. P = AR = MR C. P = AR < MR D. None of these
Last Answer : ANSWER: B
Description : Extreme forms of markets are - (1) Perfect competition; Oligopoly (2) Oligopoly; Monopoly (3) Perfect competition; Monopoly (4) Perfect competition; Monopolistic competition
Last Answer : (3) Perfect competition; Monopoly Explanation: There are two extreme forms of market structure: monopoly and, its opposite, perfect competition. Perfect competition is characterized by many buyers and sellers, ... is a market structure in which there is only one producer/ seller for a product.
Description : Selling cost have to be incurred in case of - (1) Perfect Competition (2) Monopoly (3) Monopolistic Competition (4) None of the given options
Last Answer : (3) Monopolistic Competition Explanation: Selling costs are the expenses on advertisement, salesmanship, free sampling, free service, door-todoor canvassing, and so on. There is no selling problem under ... . They are incurred to persuade a buyer to purchase one product in preference to another.