Multiple Choice
Under perfect competition:
A) AR and MR are identical
B) AR is greater than MR
C) MR is lower than AR
D) None of these
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Competition "among the few" is often called
Q11: The point at which the firm covers
Q12: 'Production of commodities by means of commodities'
Q13: Cartel is one form of:<br>A)Monopoly<br>B)Duopoly<br>C)Collusive oligopoly<br>D)Non-collusive oligopoly
Q14: Under the Perfect competition, products are:<br>A)Heterogeneous<br>B)Homogenous<br>C)Semi-homogeneous<br>D)All of
Q16: The demand curve of a firm under
Q17: A monopolist is a:<br>A)Price taker<br>B)Price maker<br>C)Policy maker<br>D)All
Q18: The equilibrium point in game theory is
Q19: The payment given to the factor labour
Q20: The price at which the demand and