A Monopoly‟s demand curve is (a) Same as its average revenue curve ; (b) Same as its supply curve; (c) Same as its cost curve ; (d) Same as that of the factor inputs

A Monopoly‟s demand curve is (a) Same as its average revenue curve ; (b) Same as its supply curve; (c) Same as its cost curve ; (d) Same as that of the factor inputs
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Answer :

(a) Same as its average revenue curve ;
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The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is (a) `7.4 ; (b) `(16) ; (c) `10 ; (d) `257.6

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A positive sloped supply curve for a product represents (a) Supply will move with movement in the price in the opposite direction; (b) Supply will move with the movement in the price in the same direction; (c) Both ; (d) None

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Last Answer : (b) Supply will move with the movement in the price in the same direction; 

In the long run price is governed by …………. (a) Cost of Production ; (b) Demand supply forces ; (c) Marginal utility ; (d) None

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Last Answer : (a) Cost of Production ;

According to law of supply ……….. (a) Higher the price higher the production of the product; (b) Higher the price lower the cost of production ; (c) Lower the price lower the demand for the product; (d) Higher the price higher the quantity the seller is prepared to supply in market

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Last Answer : (d) Higher the price higher the quantity the seller is prepared to supply in market 

The minimum price that a supplier expect to make available a specific quantity for sale is called (a) Demand price ; (b) Administered price ; (c) Cost price ; (d) Supply price

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Curvature of PPF is due to……… (a) Increase in opportunity cost ; (b) Decrease in opportunity cost ; (c) Fall in demand; (d) Fall in supply

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Last Answer : (a) Increase in opportunity cost ; 

Implicit cost refers to ……………… (a) Value of inputs owned by the firm and used in its own manufacturing process (b) Value of input or services purchased from outside and used in its own manufacturing process ; (c) Value of inputs owned by the firm and sold to others ; (d) Value of inputs or services for which no payments were made to outside

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Last Answer : (d) Value of inputs or services for which no payments were made to outside 

In a pure monopoly firm a firm can make abnormal profit at the long run equilibrium level due to (a) Price discrimination;(b)Cost effectiveness ; (c) Banned entry of new firms ; (d) Sales promotion

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Last Answer : (c) Banned entry of new firms ;

A typical demand curve will normally have a (a) positive slope ; (b) horizontal slope ;(c) vertical slope ; (d) negative slope

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Last Answer : (d) negative slope 

At a given time and in a given marketplace, the entire market demand curve indicates the (a) quantity of a good consumers would be willing and able to purchase at a given price. (b) quantity of a good consumers would be able to purchase at a series of prices. (c) quantity of a good consumers want to purchase at a given price (d) quantity of a good consumers have purchased at a series of prices over the year.

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Demand curve of an Oligopoly firm is characterized by (a) Horizontal to X axis ; (b) Kink at the price ; (c) U shaped curve ; (d) A liner line

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Last Answer : (b) Kink at the price ;

If price of Choco bar decreases we except (a) The quantity demanded to increase ; (b) Quantity demanded to decrease; (c) Demand curve to shift left ; (d) No change in quantity demanded

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