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Forms of Market and Price Determination
- Online Test
Forms of Market and Price Determination
TEST : 1
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q1.
Marginal revenue in any competitive situation is?
A.
TRn/Qn-1
B.
None of above
C.
TRn-TRn-1
D.
Trn-Pn-1
View Solution
Add Work Space
Answer :
Option C
Explaination / Solution:
No Explaination.
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q2.
While a seller under perfect competition equates price and MC to maximize profits a monopolist should equate?
A.
TC and TR
B.
AR and MR
C.
AR and MC
D.
MR and MC
View Solution
Add Work Space
Answer :
Option D
Explaination / Solution:
No Explaination.
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q3.
A rational consumer is a person who?
A.
Knows the prices of goods in different market and buys the cheapest
B.
Has perfect knowledge of the market
C.
Is not influenced by persuasive advertising
D.
Behaves at all times, other things being equal, in a judicious manner
View Solution
Add Work Space
Answer :
Option B
Explaination / Solution:
No Explaination.
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q4.
In which of the following types of market structures, are resources, assumed to be mobile?
A.
Monopoly
B.
Perfect competition
C.
Oligopoly
D.
Monopolistic competition
View Solution
Add Work Space
Answer :
Option B
Explaination / Solution:
No Explaination.
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q5.
At producer’s equilibrium when MR=MC, the firm earns only
A.
Abnormal profit
B.
Normal loss
C.
Normal Profit
D.
Abnormal loss
View Solution
Add Work Space
Answer :
Option C
Explaination / Solution:
No Explaination.
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q6.
Beyond producer’s equilibrium when MR
A.
Abnormal loss
B.
Abnormal profit
C.
Normal Profit
D.
Normal loss
View Solution
Add Work Space
Answer :
Option A
Explaination / Solution:
No Explaination.
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q7.
Before producer’s equilibrium when MR>MC, the firm earns only
A.
Normal Profit
B.
Abnormal profit
C.
Normal loss
D.
Abnormal loss
View Solution
Add Work Space
Answer :
Option B
Explaination / Solution:
No Explaination.
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q8.
A producer’s equilibrium is a situation when
A.
TR=TC
B.
AR=MR
C.
MR=MC
D.
AR=AC
View Solution
Add Work Space
Answer :
Option D
Explaination / Solution:
No Explaination.
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q9.
The elasticity at a point on a straight line supply curve passing through the origin will be
A.
2
B.
3
C.
4
D.
1.0
View Solution
Add Work Space
Answer :
Option D
Explaination / Solution:
No Explaination.
# Forms of Market and Price Determination
# CBSE 12TH Economics
Prepare / Learn
Q10.
The elasticity at a point on a straight line supply curve passing through the origin making an angle of 45°will be
A.
4
B.
2
C.
1.0
D.
3
View Solution
Add Work Space
Answer :
Option C
Explaination / Solution:
No Explaination.
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