Forms of Market and Price Determination - Online Test

Q1. Marginal revenue in any competitive situation is?
Answer : Option C
Explaination / Solution:
No Explaination.


Q2. While a seller under perfect competition equates price and MC to maximize profits a monopolist should equate?
Answer : Option D
Explaination / Solution:
No Explaination.


Q3. A rational consumer is a person who?
Answer : Option B
Explaination / Solution:
No Explaination.


Q4. In which of the following types of market structures, are resources, assumed to be mobile?
Answer : Option B
Explaination / Solution:
No Explaination.


Q5. At producer’s equilibrium when MR=MC, the firm earns only
Answer : Option C
Explaination / Solution:
No Explaination.


Q6. Beyond producer’s equilibrium when MR
Answer : Option A
Explaination / Solution:
No Explaination.


Q7. Before producer’s equilibrium when MR>MC, the firm earns only
Answer : Option B
Explaination / Solution:
No Explaination.


Q8. A producer’s equilibrium is a situation when
Answer : Option D
Explaination / Solution:
No Explaination.


Q9. The elasticity at a point on a straight line supply curve passing through the origin will be
Answer : Option D
Explaination / Solution:
No Explaination.


Q10. The elasticity at a point on a straight line supply curve passing through the origin making an angle of 45°will be
Answer : Option C
Explaination / Solution:
No Explaination.