Collusive oligopoly refers to a situation where firms A Compete independently B Follow perfect competition C Cooperate to fix price
Continue readingCategory: 0. BLOG
Your blog category
Chapter 5: Forms of Market and Price Determination (Set-3)
Monopolistic competition is a market structure characterized by A One seller and many buyers B Few sellers with interdependence C
Continue readingChapter 5: Forms of Market and Price Determination (Set-2)
Monopoly is a market structure in which A Many sellers sell identical products B One seller controls the entire market
Continue readingChapter 5: Forms of Market and Price Determination (Set-1)
A market in economics refers to A A physical place where goods are sold B A set of buyers only
Continue readingChapter 4: Costs and Revenue (Set-4)
Break-even point (BEP) refers to the output level where A Total cost is maximum B Total revenue is maximum C
Continue readingChapter 4: Costs and Revenue (Set-3)
Total revenue (TR) is calculated as A Price × Quantity sold B Total cost ÷ Output C Marginal cost ×
Continue readingChapter 4: Costs and Revenue (Set-2)
Short-run is defined as a period in which A All factors are fixed B All factors are variable C Some
Continue readingChapter 4: Costs and Revenue (Set-1)
Cost in economics refers to A Only money spent on inputs B Opportunity cost of resources used C Accounting expenditure
Continue readingChapter 3: Producer Behaviour and Supply (Set-4)
Producer’s equilibrium is achieved when A Cost is minimum B Output is maximum C Profit is maximum D Revenue is
Continue readingChapter 3: Producer Behaviour and Supply (Set-3)
Returns to scale refer to the change in output when A One factor is increased B All factors are increased
Continue reading