(A) Natural monopoly
(B) Technological monopoly
(C) Government monopoly;
(D) Geographical monopoly
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If a firm shut down at a level when AVC > Price, the firm restricts its losses to?
(A) Total fixed cost
(B) Average fixed cost
(C) Variable cost
(D) Average variable cost
A firm faces the shut down situation when?
(A) Price is less than average variable cost
(B) Price is more than the average variable cost
(C) Price is equal to fixed cost
(D) Price is more than the average fixed cost
Simultaneous increase in demand and quantity supplied will?
(A) Increase in equilibrium price and quantity
(B) Decrease equilibrium price and quantity
(C) Increase equilibrium price but decrease quantity
(D) Decrease equilibrium price but increase quantity
Which of these is associated with a monopolistic competitive market __?
(A) Product differentiation
(B) Homogeneous Product
(C) Normal in short run
(D) Single buyer
Which of these is not a cause of price discrimination?
(A) Ignorance of consumer
(B) Place differentiation
(C) Variation in quality
(D) Tax differentiation
The practice of selling same product to different persons at different price is called?
(A) Price discrimination
(B) Price rigging
(C) Price manipulation
(D) Price Justification
In the long run a firm in perfect competition earns?
(A) Normal profit only
(B) Abnormal profit
(C) Average profit of past five years;
(D) 12.33% profit on capital employed