Top 150+ Solved Micro Economics analysis MCQ Questions Answer
Q. ‘Indeterminateness of demand curve’ is a feature of
a. perfect competition
b. monopoly
c. monopolistic competition
d. oligopoly
Q. Selling cost is maximum in the case of
a. monopoly
b. oligopoly
c. perfect competition
d. monopolistic competition
Q. The concept of ‘Kinked demand curve’ is related to
a. monopoly
b. monopolistic competition
c. perfect competition
d. oligopoly
Q. The concept of ‘Kinked demand curve’ was developed by
a. alfred marshal
b. j r hicks
c. p m sweezy
d. a.k sen
Q. ‘Group behavior’ is a feature of
a. monopoly
b. oligopoly
c. perfect competition
d. monopolistic competition
Q. Advertising can become ‘a life and death matter’ in
a. perfect competition
b. monopoly
c. monopolistic competition
d. oligopoly
Q. Classical oligopoly models are related to
a. collusive oligopoly
b. non-collusive oligopoly
c. price leadership model
d. none of the above
Q. Price leadership can be in the form of
a. price leadership by a low cost firm
b. price leadership by a dominant firm
c. a barometric price leadership
d. all of the above
Q. ‘Cartels’ are example for
a. collusive oligopoly
b. non-collusive oligopoly
c. monopsony
d. none of the above
Q. Assertion (A) Many oligopolistic industries exhibit an appreciable degree of Price rigidity or stabilityReason (R) Oligopolists face a demand curve that is highly elasticfor price increases and less elastic for price reductions
a. (a) is true but (r) is false.
b. both (a) and (r) are false
c. both (a) and (r) are true and (r) is the correct explanation of (a)
d. both (a) and (r) are true but (r) is not the correct explanation of(a)
Q. Match the followingA B (i). Demand for inputs Hall and Hitch (ii). Oligopoly Single buyer (iii). Kinked demand theory Cartels (iv). Monopsony Derived demand Codes;
a. (i) (ii) (iii) (iv)
b. (i) (iii) (ii) (iv)
c. (iv) (iii) (ii) (i)
d. (iv) (iii) (i) (ii)
Q. The equilibrium level of output for a perfectly competitive marketis
a. mc = ac
b. mc = mr
c. tc = tr
d. none of the above
Q. The term ‘monopsony’ refers to
a. a single seller
b. a single buyer
c. a single buyer and a single seller
d. none of the above
Q. The demand curve for labour under perfectly competitive marketis
a. downward sloping
b. horizontal straight line
c. upward sloping
d. none of the above