Not a condition of equilibrium of monopoly firm:
  • Average revenue = Marginal revenue
  • Marginal revenue = Marginal cost
  • Marginal cost curve cuts marginal revenue curve from downwards.
  • Both (b) and (c).
Market price is found in:
  • Short period market
  • Long period market
  • Very long period market
  • None of these.
Demand curve of a firm is perfectly elastic in:
  • Perfect competition
  • Monopoly
  • Monopolistic competition
  • Oligopoly.
Administrative price is:
  • Price ceiling
  • Price floor
  • Both (a) and (b)
  • None of these.
Minimum support price of wheat is called:
  • Price ceiling
  • Price floor
  • Market price
  • Equilibrium price.
Which of the following is the component of instrument pricing:
  • Rent
  • Wages
  • Interest
  • None of these.
Which factors help in the determination of equilibrium price:
  • Demand
  • Supply
  • Both (a) and (b)
  • None of the above.
Which among the following statement is not true:
  • Demand of labor is done by the producer
  • Demand of labor depends open its productivity
  • Marginal productivity of a labor is his maximum wages
  • All of the above.
Excess demand can be seen in:
  • Fixed market price
  • Lowest fixed price
  • Highest fixed price
  • None of these.
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