Top 350+ Solved Micro economics 2 MCQ Questions Answer
Q. A market with only one buyer and one seller is called
a. Oligopsony
b. monopsony
c. Bilateral monopoly
d. None
Q. Bilateral monopoly is a market with
a. Single buyer
b. Single seller
c. Single buyer and single seller
d. Few buyers and sellers
Q. The dual pricing system of charging high price during peak time and low price during ofpeak time is called
a. Double pricing
b. Dual pricing
c. kinked pricing
d. peak load pricing
Q. Selling more than one product at a single price
a. Dumping
b. Bundling
c. Discounting
d. Off loading
Q. The market structure which has large number of sellers selling differentiated product iscalled
a. Perfect competition
b. Monopoly
c. Monopolistic competition
d. Oligopoly
Q. The market structure which number of sellers is small with interdependence is called
a. Perfect competition
b. Monopoly
c. Monopolistic competition
d. Oligopoly
Q. The condition of short run equilibrium under monopolistic competition is
a. MC=MR
b. AC=MR
c. AC=AR
d. AR=MR
Q. Kinked demand curve explain which of the following features of oligopoly
a. Selling cost
b. Price rigidity
c. Non price competition
d. Product differentiation
Q. Demand curve of a firm under monopolistic competition is
a. Parallel to X axis
b. Parallel to Y axis
c. Downward slopping
d. Upward slopping
Q. Which of the following is not a feature of monopolistic competition?
a. Homogenous product
b. Large number of firms
c. Freedom to entry and exit
d. Differentiated product
Q. In the long run, a monopolistically competitive firm earn
a. Abnormal profit
b. loss
c. Normal profit
d. Differentiated profit
Q. In the short run, a monopolistically competitive firm can have
a. Abnormal profit
b. loss
c. Normal profit
d. Any of the above are possible
Q. Selling cost is a feature of
a. Monopolistic competition
b. Perfect competition
c. Monopoly
d. Bilateral monopoly
Q. The concept of group equilibrium is related to
a. Paul M sweezy
b. Joan robinson
c. E H Chamberline
d. E L Edgeworth