Top 350+ Solved Micro economics 2 MCQ Questions Answer
Q. When there are only two sellers, the market is called as:
a. Oligopoly
b. Monopsony
c. Duopoly
d. Bilateral monopoly
Q. Perfect competition is a market situation under which acommodity is sold at:
a. Uniform price
b. Different price
c. Higher price
d. Lower price
Q. The demand curve of a firm under perfect competition is :
a. Inelastic
b. Perfectly inelastic
c. Infinitely elastic
d. Unitary elastic
Q. The price of a commodity under the perfect competition isdetermined by:
a. Buyer
b. Seller
c. Firm
d. Market forces
Q. The price at which the demand and supply are equal is called:
a. Normal price
b. Support price
c. Equilibrium price
d. Fair price
Q. Cost of advertisement and salesmanship is called:
a. Sales cost
b. Selling cost
c. Dual price
d. None of these
Q. Price leadership is a feature of:
a. Monopoly
b. Oligopoly
c. Duopoly
d. Monopolistic Competition
Q. The market situation characterized by one buyer is:
a. Monopsony
b. Monopoly
c. Bilateral monopoly
d. Oligopsony
Q. Under the Perfect competition, products are:
a. Heterogeneous
b. Homogenous
c. Semi-homogeneous
d. All of these
Q. The demand curve of Monopoly firm is ----------slopped.
a. Downward
b. Upward
c. Positively
d. None of these