(A) Same as its average revenue curve
(B) Same as its supply curve
(C) Same as its cost curve
(D) Same as that of the factor inputs
Category: Economics Mcqs
Users will find here Economics Mcqs for NTS, CSS, PMS, PPSC, FPSC, KPPSC, AJKPSC, BPSC, PTS, SPSC, Lecturer and all other types of Competitive Exams and Interviews. Economics students can prepare their Economics Portion for all test from here.
A competitive firm maximizes its total profit when __?
(A) Average cost equal average realization
(B) Marginal cost equals Price;
(C) Total revenue is the maximum
(D) MR = AR
In a competitive market __is the price taker?
(A) Firm
(B) Industry
(C) Consumer
(D) Trade association
In a competitive market __is the price maker?
(A) Firm
(B) Industry
(C) Consumer
(D) Trade association
Oligopoly market is known for __?
(A) Price flexibility
(B) Price rigidity
(C) Price discrimination
(D) All the three
__ has excess production capacity in the long run?
(A) Perfect competition market
(B) Monopolistic competition market
(C) Oligopolistic market
(D) None
Super normal profits occurs when?
(A) Average revenue is more than average cost
(B) Total revenue is maximum;
(C) Total cost is minimum
(D) MC is equal to MR
A monopoly firm makes more profit because?
(A) It has ability to choose among price and output combination
(B) It can discriminate price
(C) It leave the consumer with no consumer surplus
(D) it acts as a market leader