Top 350+ Solved Micro economics 2 MCQ Questions Answer
Q. The concept of kinked demand curve is related to
a. Paul M sweezy
b. Joan robinson
c. E H Chamberline
d. E L Edgeworth
Q. Refrigerator company is an example of
a. Oligopoly
b. Perfect competition
c. Monopoly
d. Bilateral monopoly
Q. Cross elasticity of demand under monopolistic competition is?
a. Zero
b. Highly elastic
c. Highly inelastic
d. infinite
Q. The concept of group equilibrium is related to
a. Perfect competition
b. Monopoly
c. Monopolistic competition
d. Oligopoly
Q. Excess capacity is a feature of equilibrium under
a. Perfect competition
b. Monopoly
c. Monopolistic competition
d. Oligopoly
Q. Which of the following is an important form collusive oligopoly
a. Bilateral monopoly
b. Monopoly
c. cartel
d. Kinked Oligopoly
Q. Comparing a monopoly and a competitive firm, the monopolist will
a. produce less at a lower price
b. produce more at a lower price
c. produce less at a higher price
d. produce less at a lower price
Q. A natural monopoly has a declining ________ over a large range of output
a. long run marginal cost
b. short run marginal cost
c. long run average cost
d. long run marginal cost
Q. Which form of monopoly control is most advantageous to consumer?
a. price controls
b. quantity controls
c. lump sum tax
d. all the above
Q. The market structure Perfect mobility of factors and products is called
a. Perfect competition
b. Monopoly
c. Monopolistic competition
d. Oligopoly
Q. The market structure with Perfect knowledge is called
a. Perfect competition
b. Monopoly
c. Monopolistic competition
d. Oligopoly
Q. The condition of perfect competition is fulfilled when
a. Sellers are large in number
b. Buyers are large in number
c. Commodity produced is homogenous
d. All the above
Q. The following are conditions of perfect competition except
a. Sellers are large in number
b. Buyers are large in number
c. Commodity produced is homogenous
d. Commodity produced is differentiated
Q. The following are conditions of perfect competition except
a. Strong barriers to entry
b. Sellers are large in number
c. Commodity produced is Homogenous
d. Buyers are large in number