Multiple Choice
The point at which the firm covers its variable cost is called:
A) Point of Inflexion
B) Equilibrium
C) Shut down
D) None of these
Correct Answer:
Verified
Correct Answer:
Verified
Q6: Firm and industry are the same under:<br>A)Perfect
Q7: Equilibrium literally means:<br>A)Balance<br>B)Imbalance<br>C)Change<br>D)None of these
Q8: The Theory of Glut is the contribution
Q9: Monopoly is:<br>A)Presence of competition<br>B)Absence of competition<br>C)Both A
Q10: Competition "among the few" is often called
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
Q15: Under perfect competition:<br>A)AR and MR are identical<br>B)AR
Q16: The demand curve of a firm under