Chapter 5: Market Structure and Pricing March 9, 2024 Maven Leave a Comment Welcome to the Chapter 5: Market Structure and Pricing Quiz! This quiz is based on the book back questions. Name Email 1. In monopolistic competition, the essential feature is ..… a. Same product b. selling cost c. Single seller d. Single buyer None 2. In which market form, does absence of competition prevail? a. Perfect competition b. Monopoly c. Duopoly d. Oligopoly None 3. The average revenue curve under monopolistic competition will be…… a. Perfectly inelastic b. Perfectly elastic c. Relatively elastic d. Unitary elastic None 4. Price leadership is the attribute of ………… a. Perfect competition b. Monopoly c. Oligopoly d. Monopolistic competition None 5. Group equilibrium is analysed in ……. a. Monopolistic competition b. Monopoly c. Duopoly d. Pure competition None 6. Price discrimination will always lead to…………. a. Increase in output b. Increase in profit c. Different prices d. b and c None 7. Monopolistic competition is a form of .……. a. Oligopoly b. Duopoly c. Imperfect competition d. Monopoly None 8. Under perfect competition, the shape of demand curve of a firm is............... a. Vertical b. Horizontal c. Negatively sloped d. Positively sloped None 9. Which of the following involves maximum exploitation of consumers? a. Perfect competition b. Monopoly c. Monopolistic competition d. Oligopoly None 10. An example of selling cost is … a. Raw material cost b. Transport cost c. Advertisement cost d. Purchasing cost None 11. Perfect competition assumes ………… a. Luxury goods b. Producer goods c. Differentiated goods d. Homogeneous goods None 12. Equilibrium condition of a firm is...... a. MC = MR b. MC > MR c. MC < MR d. MR = Price None 13. In monopoly, MR curve lies below …………. a. TR b. MC c. AR d. AC None 14. Another name of price is…………….. a. Average Revenue b. Marginal Revenue c. Total Revenue d. Average Cost None 15. In which type of market, AR and MR are equal ….. a. Duopoly b. Perfect competition c. Monopolistic competition d. Oligopoly None 16. Profit of a firm is obtained when a. TR < TC b. TR - MC c. TR > TC d. TR = TC None 17. Which of the following is a feature of monopolistic competition? a. One seller b. Few sellers c. Product differentiation d. No entry None 18. In which of the following is not a type of market structure Price will be very high? a. Perfect competition b. Monopoly c. Duopoly d. Oligopoly None 19. There is no excess capacity under a. Monopoly b. Monopolistic competition c. Oligopoly d. Perfect competition None 20. A firm under monopoly can earn …………. in the short run. a. Normal profit b. Loss c. Super normal profit d. More loss None Time's up Related Posts:Chapter 13 : Concept Of Market and MarketerChapter 5: Capital MarketChapter 6: Money MarketChapter 4: Cost and Revenue Analysis
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