1 |
The kind of market, in which a single firm produces a single commodity which has no close substitute |
- A. Monopoly
- B. Duopoly
- C. Oligopoly
- D. Perfect competition
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2 |
When average cost increases, marginal cost is - - - - - - average cost |
- A. Less than
- B. More than
- C. Equal to
- D. None of three
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3 |
What is the reward of Organization ? |
- A. Rent
- B. Wage
- C. Interest
- D. Profit
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4 |
Which curve represents demand curve also |
- A. Marginal revenue
- B. Average revenue
- C. Total revenue
- D. Marginal cost
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5 |
Demand curve of a monopolist has the shape |
- A. Falls from left to right
- B. Rises from left to right
- C. Remains below MR curve
- D. Remains parallel to ox-axis
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6 |
The factor of production which is result of human struggle. |
- A. Land
- B. Labour
- C. Capital
- D. Organization
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7 |
When average cost is minimum, marginal cost is - - - - - - - - average cost |
- A. Less than
- B. More than
- C. Equal to
- D. None of three
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8 |
All the factors production can be hired except. |
- A. Land
- B. Labour
- C. Capital
- D. Organization
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9 |
Additional amount of money which a firm gets by selling an additional unit of output is called |
- A. Average revenue
- B. Marginal revenue
- C. Total revenue
- D. Revenue
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10 |
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is |
- A. Average revenue remains more than marginal revenue
- B. Average revenue remains less than marginal revenue
- C. Marginal revenue remains less than average revenue
- D. Average revenue remains equal to marginal revenue
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