Chapter 5: Market Structure and PricingMarch 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. Perfect competition assumes ………… a. Luxury goods b. Producer goods c. Differentiated goods d. Homogeneous goods None 2. Which of the following is a feature of monopolistic competition? a. One seller b. Few sellers c. Product differentiation d. No entry None 3. Profit of a firm is obtained when a. TR < TC b. TR - MC c. TR > TC d. TR = TC None 4. There is no excess capacity under a. Monopoly b. Monopolistic competition c. Oligopoly d. Perfect competition None 5. 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 6. Another name of price is…………….. a. Average Revenue b. Marginal Revenue c. Total Revenue d. Average Cost None 7. Equilibrium condition of a firm is...... a. MC = MR b. MC > MR c. MC < MR d. MR = Price None 8. A firm under monopoly can earn …………. in the short run. a. Normal profit b. Loss c. Super normal profit d. More loss None 9. In monopoly, MR curve lies below …………. a. TR b. MC c. AR d. AC None 10. In which type of market, AR and MR are equal ….. a. Duopoly b. Perfect competition c. Monopolistic competition d. Oligopoly None 11. In which market form, does absence of competition prevail? a. Perfect competition b. Monopoly c. Duopoly d. Oligopoly None 12. Under perfect competition, the shape of demand curve of a firm is............... a. Vertical b. Horizontal c. Negatively sloped d. Positively sloped None 13. Monopolistic competition is a form of .……. a. Oligopoly b. Duopoly c. Imperfect competition d. Monopoly None 14. The average revenue curve under monopolistic competition will be…… a. Perfectly inelastic b. Perfectly elastic c. Relatively elastic d. Unitary elastic None 15. An example of selling cost is … a. Raw material cost b. Transport cost c. Advertisement cost d. Purchasing cost None 16. Group equilibrium is analysed in ……. a. Monopolistic competition b. Monopoly c. Duopoly d. Pure competition None 17. In monopolistic competition, the essential feature is ..… a. Same product b. selling cost c. Single seller d. Single buyer None 18. Which of the following involves maximum exploitation of consumers? a. Perfect competition b. Monopoly c. Monopolistic competition d. Oligopoly None 19. Price discrimination will always lead to…………. a. Increase in output b. Increase in profit c. Different prices d. b and c None 20. Price leadership is the attribute of ………… a. Perfect competition b. Monopoly c. Oligopoly d. Monopolistic competition None Time's upRelated Posts:Chapter 13 : Concept Of Market and MarketerChapter 5: Capital MarketChapter 6: Money MarketChapter 4: Cost and Revenue Analysis
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