Forms of Market and Price Determination Test

Result

Forms of Market and Price Determination Test - 2

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Weekly Quiz Competition

Question 1
1 / -0

A horizontal straight line AR and MR curve is found under:

A
monopoly

B
oligopoly

C
monopolistic competition

D
perfect competition
Question 2
1 / -0

A form of the market in which there is a single seller of a commodity is called:

A
perfect competition

B
monopoly

C
monopolistic competition

D
oligopoly
Question 3
1 / -0

The demand curve for a firm operating under monopoly:

A
slopes downward

B
slopes upward

C
is a straight line parallel to X-axis

D
is indeterminate
Question 4
1 / -0

The practice of charging different prices for the same good is called:

A
profit maximisation

B
price discrimination

C
cost minimisation

D
all of these
Question 5
1 / -0

A firm under monopoly can earn:

A
only normal profits in the short run

B
only normal profits in the long run

C
super normal profits in the short run as well as long run

D
super normal profits only in the long run
Question 6
1 / -0

Downward sloping demand curve indicates that:

A
more quantity can be sold only at a lower price

B
higher price leads to lower sales

C
both price and quantity are controlled by the monopolist

D
both (a) and (b)
Question 7
1 / -0

Under monopoly, price discrimination is done:

A
to minimise cost of production

B
to maximise revenue from the sale of a good/service

C
to increase market share of a firm

D
none of these
Question 8
1 / -0

Formation of a group by the competing firms in the market is called:

A
patent right

B
patent life

C
cartel

D
none of these
Question 9
1 / -0

Which of the following is incorrect in the context of monopoly market structure?

A
One seller of the commodity

B
Homogeneous product

C
Restrictions on the entry of new firms

D
Large number of buyers
Question 10
1 / -0

A firm under monopolistic competition sells:

A
homogeneous product

B
complementary product

C
differentiated product

D
none of these

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Re-Attempt Weekly Quiz Competition

Forms of Market and Price Determination Test - 2

Result

Forms of Market and Price Determination Test - 2

Score

-

Rank

-

SHARING IS CARING

Question 1

monopoly

oligopoly

monopolistic competition

perfect competition

Question 2

perfect competition

monopoly

monopolistic competition

oligopoly

Question 3

slopes downward

slopes upward

is a straight line parallel to X-axis

is indeterminate

Question 4

profit maximisation

price discrimination

cost minimisation

all of these

Question 5

only normal profits in the short run

only normal profits in the long run

super normal profits in the short run as well as long run

super normal profits only in the long run

Question 6

more quantity can be sold only at a lower price

higher price leads to lower sales

both price and quantity are controlled by the monopolist

both (a) and (b)

Question 7

to minimise cost of production

to maximise revenue from the sale of a good/service

to increase market share of a firm

none of these

Question 8

patent right

patent life

cartel

none of these

Question 9

One seller of the commodity

Homogeneous product

Restrictions on the entry of new firms

Large number of buyers

Question 10

homogeneous product

complementary product

differentiated product

none of these

User

Question Analysis

My Perfomance

Score

-

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