Forms of market II MCQ on Forms of Market

 Forms of market II MCQ on Forms of Market 

1. Entry is restricted under:

(a) Perfect competition (c) Monopolistic competition (b) Monopoly (d) All of the above 2. Demand curve is perfectly elastic under: (a) Perfect competition (c) Monopolistic competition
(b) Monopoly (d) All of the above

3. Demand curve is elastic under:

(a) Perfect competition (c) Monopolistic competition (b) Monopoly (d) All of the above 4. Demand curve is inelastic under: (a) Perfect competition (c) Monopolistic competition
(b) Monopoly (d) All of the above

5. Differentiated but close substitutes exist under:

(a) Perfect competition (c) Monopolistic competition (b) Monopoly (d) All of the above 6. Selling cost is insignificant under: (a) Perfect competition (c) Monopolistic competition
(b) Monopoly (d) All of the above

7. Few firms exist under:

(a) Perfect competition (c) Monopolistic competition	(b) Oligopoly (d) Both perfect and monopolistic competition
8. In which market structure, price and output solution is indeterminate?
(a) Oligopoly (c) Perfect competition	(b) Monopolistic competition (d) Monopoly

9. Homogenous product means products are:

(a) Similar (c) Quite alike 10. Monopoly means:

(b) Close substitutes (d) None of the above

(a) Single firm (c) Barriers to entry	(b) No close substitutes (d) All of the above
11. ‘Homogenous products’ is a characteristic of:
(a) Perfect competition only (c) Both (a) and (b)	(b) Perfect oligopoly only (d) None of the above

12. There is inverse relation between price and demand for the product of a firm under:

(a) Monopoly only	(b) Monopolistic competition only
(c) Both under monopoly and monopolistic competition
(d) Perfect competition only
13. A firm is able to sell any quantity of a good at a given price. The firm’s marginal revenue will
be: (a) Greater than Average Revenue	(b) Less than Average Revenue

(c) Equal to Average Revenue        (d) Zero                           14. Differentiated products is a characteristic of: (a) Monopolistic competition only (b) Oligopoly only

(c) Both monopolistic competition and oligopoly

(d) Monopoly

15. Demand curve of a firm is perfectly elastic under: 

(a) Perfect competition (c) Monopolistic competition	(b) Monopoly (d) Oligopoly
16. Marginal revenue of a firm is constant throughout under:
(a) Perfect competition (c) Oligopoly	(b) Monopolistic competition (d) All the above

17. A seller cannot influence the market price under 

(a) Perfect Competition (b) Monopoly (c) Monopolistic competition (d) All of the above 18. There are only a few sellers under (a) Perfect Competition (c) Monopoly
(b) Monopolistic competition (d) Oligopoly

1. (b) 2. (a) 3. (c) 4. (b) 5. (c) 6. (b) 7. (b) 8. (a)
9. (d) 10. (d) 11. (c) 12. (c) 13. (c) 14. (c ) 15. (a ) 16. (a)
17. (a ) 18. (d)