The degree of monopoly power is to be measured in terms of the firm's- (1) normal profit (2) supernormal profit (3) both normal and supernormal profit (4) selling price

The degree of monopoly power is to be measured in terms of the firm's- (1) normal profit (2) supernormal profit (3) both normal and supernormal profit (4) selling price
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(2) supernormal profit Explanation: Monopoly power implies the amount of discretion which a monopolist possesses to fix up the prices of his products and degree of control over his output decisions. According to J.S. Bains, the degree of monopoly power can be measured by the monopoly firm's super-normal profit.
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The degree of monopoly power is to be measured in terms of the firm’s (1) normal profit (2) supernormal profit (3) both normal and supernormal profit (4) selling price

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Cost of production of the producer is given by: (1) sum of wages paid to labourers. (2) sum of wages and interest paid on capital. (3) sum of wages, interest, rent and supernormal profit. (4) sum of wages, interest, rent and normal profit.

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In order to maximize profits, a monopoly company will produce that quantity at which the: a. marginal revenue equals average total cost b. price equals marginal revenue c. marginal revenue equals marginal cost d. total revenue equals total cost

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In pure monopoly, what is the relation between the price and the marginal revenue? a. the price is greater than the marginal revenue b. the price is less than the marginal revenue c. there is no relation d. they are equal

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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

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Price and output are determinates in market structure other than (1) monopoly (2) perfect competition (3) oligopoly (4) monopsony

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Same price prevails throughout the market under (1) perfect competition (2) monopoly (3) monopolistic competition (4) oligopoly

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Long-term equilibrium of an Industry under a perfectly market conditions in achieved when (a) All the firms are earning normal profit ; (b) All the firms are in equilibrium ; (c) There is no further entry or exit of firms from the industry ; (d) All the three

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When the market is run by a small number of firms that together control the majority of market share is known as A. Oligopoly B. Monopoly C. Oligopsony D. Perfect competition

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Which of the following firms would most likely have a monopoly for its competitive environment? A)Sunset Cablevision B)Montgomery Transport C)Post Office Parcel ServicesD)Telecom Car Phones E)Dorset Lawn Care

Description : Which of the following firms would most likely have a monopoly for its competitive environment? A)Sunset Cablevision B)Montgomery Transport C)Post Office Parcel Services D)Telecom Car Phones E)Dorset Lawn Care

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Demand curve can be derived from the law of diminishlng marginal utility on which of the following assumptions? (i) Utility can be measured in quantitative terms (ii) Utility of money is constant Of these statements: A.Only (i) is true B.Both (i) and (ii) are true C.Only (ii) is true D.Neither (i) nor (ii) is true

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The ratio of the cost price of product A to that of B is 5:7. product A was sold at a profit of 80% and product B was sold at a profit of 20%. If the total profit earned after selling both the (products A and B is Rs 296) what is the difference between the cost prices of product A and B?

Description : The ratio of the cost price of product A to that of B is 5:7. product A was sold at a profit of 80% and product B was sold at a profit of 20%. If the total profit earned after selling both the (products A and B is Rs 296) what is the difference between the cost prices of product A and B?

Last Answer : CP of product A= 5X CP of product B=7x Total price = (5x*0.8)+(7x*0.2) =296 4X+1.4X=296 5.4X=296 x=54.81=55(approx.) difference of the CP= 7x-5x=2x=2*55  = Rs. 110

The most distinguishing feature of oligopaly is - (1) number of firms (2) interdependence (3) negligible influence on price (4) price leadership

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Description : Which bank enjoys monopoly power of note issue? (a) NABARD (b) Agricultural bank © Industrial bank (d) Central bank.

Last Answer : (d) Central bank.

"he national income consists of a collection of goods and services reduced to common basis by being measured in terms of money,"— Who says this? (1) Samuelson (2) Kuznets (3) Hicks (4) Pigou

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Last Answer : (3) Hicks Explanation: British economist John Hicks said that National income is a collection of goods and services reduced to a common basis by being measured in terms of money. Hicks ... macroeconomics. His book Value and Capital (1939) significantly extended general-equilibrium and value theory.

“The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money.”–– Who says this ? (1) Samuelson (2) Kuznets (3) Hicks (4) Pigou

Description : “The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money.”–– Who says this ? (1) Samuelson (2) Kuznets (3) Hicks (4) Pigou

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How and why did Ticketmaster get a monopoly on ticket selling?

Description : How and why did Ticketmaster get a monopoly on ticket selling?

Last Answer : It is the inevitable course of Capitalism.