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Forms of Market and Price Determination Test - 4

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Forms of Market and Price Determination Test - 4
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  • Question 1
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    There is cut throat competition and a high degree of interdependence between the firms under:

  • Question 2
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    Members of the cartel under cooperative oligopoly accept the price policy as specified by the:

  • Question 3
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    Competition is preferred to collusion as a means of profit maximisation under:

  • Question 4
    1 / -0

    Firms under oligopoly are able to earn:

  • Question 5
    1 / -0

    In the context of oligopoly, which one of the following is correct?

  • Question 6
    1 / -0

    A state in which market demand is equal to market supply corresponds to:

  • Question 7
    1 / -0

    If supply of a product falls, equilibrium price will:

  • Question 8
    1 / -0

    In a situation of excess demand, market price tends to:

  • Question 9
    1 / -0

    An increase in demand, supply remaining constant, would generally cause equilibrium quantity to:

  • Question 10
    1 / -0

    An increase in supply, when demand is remaining perfectly elastic, would cause equilibrium price to:

  • Question 11
    1 / -0

    A rise in the number of firms would cause:

  • Question 12
    1 / -0

    Demand being perfectly inelastic, what will be the effect of decrease in supply on equilibrium price and equilibrium quantity?

  • Question 13
    1 / -0

    Decrease in the price of a complementary good will cause:

  • Question 14
    1 / -0

    As fixed by the government, minimum price of a commodity is known as:

  • Question 15
    1 / -0

    As fixed by the government, the maximum price of a commodity is known as:

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