11th Standard EM - Economics - Market Structure and Pricing

Buy 11th Economics MCQ Online Test Practice test pack

Question - 1

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

Question - 2

Equilibrium condition of a firm is ___________

  • A MC=MR
  • B MC>MR
  • C MC < MR
  • D MR = Price

Question - 3

Which of the following is a feature of monopolistic competition?

  • A One seller
  • B Few sellers
  • C Product differentiation
  • D No entry

Question - 4

A firm under monopoly can earn ________ in the short run

  • A Normal profit
  • B Loss
  • C Super normal profit
  • D More loss

Question - 5

There is no excess capacity under _________

  • A Monopoly
  • B Monopolistic competition
  • C Oligopoly
  • D Perfect competition

Question - 6

Profit of a firm is obtained when __________

  • A TR<TC
  • B TR-MC
  • C TR>TC
  • D TR=TC

Question - 7

Another name of price is _________

  • A Average Revenue
  • B Marginal Revenue
  • C Total Revenue
  • D Average cost

Question - 8

In which type of market, AR and MR are equal _______

  • A Duopoly
  • B Perfect competition
  • C Monopolistic competition
  • D Oligopoly

Question - 9

In monopoly, MR curve lies below ____________

  • A TR
  • B MR
  • C AR
  • D AC

Question - 10

Perfect competition assumes ____________

  • A Luxury goods
  • B Producer goods
  • C Differentiated goods
  • D Homogeneous goods