| 1 |
MRP curve of a firm represent demand curve of industry under. |
- A. Imperfect compitition
- B. Monolopy
- C. Oligopoly
- D. Perfect competition
|
| 2 |
A firm decides to exit the industry when |
- A. AC starts rising
- B. MC starts rising
- C. price is less than LAC
- D. TC starts rising
|
| 3 |
With an increase in wage rate supply of labour. |
- A. Decrease
- B. Increase
- C. Remains constant
- D. None of the three
|
| 4 |
The position of the firm when it is earning maximum of profit and Profit = Total Revenue - Total cost are called |
- A. Perfect competition
- B. Under perfect competition
- C. Equilibrium of firm
- D. None of these
|
| 5 |
The demand for a factor is called. |
- A. Composite demand
- B. Joint demand
- C. derived demand
- D. No demand
|
| 6 |
:It is not possible to separate marginal revenue product of each factor of production:. It was said by: |
- A. Carver
- B. Hobson
- C. Hansen
- D. Hicks
|
| 7 |
Total profit = ? |
- A. Per unit profit x output
- B. Per unit profit x input
- C. Per unit profit + output
- D. per unit profit - input
|
| 8 |
A monopoly generally |
- A. allocates resources in a socially optimal way
- B. encourages greater income equality
- C. encourages greater efficiency
- D. produces less quantity than the quantity which minimies average cost
|
| 9 |
A firm should shut down in the short run if it is not covering its |
- A. variable cost
- B. fixed cost
- C. total cost
- D. explicit cost
|
| 10 |
In monopoly and perfect competition the cost curves are |
- A. similar
- B. different
- C. opposite
- D. falling in competition rising in monopoly
|
