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Commerce: MCQs – Kinds of Market Notes | Data Freeze Span of Micro Business economics -Category a dozen – Commerce

Q.step 1 And this of your own adopting the isn’t an element away from monopolistic competition ? (a) Easier admission into the world (b) Product differentiation (c) A fairly multitude of sellers (d) An excellent homogenous productAns: D

Q.dos And this of one’s after the avenues feel the book ability of indeterminate demand contour? (a) Finest battle(b) Oligopoly (c) Dominance (d) Monopolistic

Q.step 3 Less than hence of your own sector variations, the latest request contour try steeper compared to sector regarding monopolistic competition ? (a) Duopoly (b) Dominance

Q.5 Not as much as monopoly brand of field the cost flexibility off consult tends to be (a) More than unity (b) Comparable to unity (c) Less than unity (d) InfinityAns: C

Q.6 In the monopolistic battle variety of business, what type of the pursuing the comments could be right? (a) Independence out of admission and you can get-off on the new businesses (b) Request curve parallel so you’re able to straight axis. (c) Corporation features full power over price. (d) Selling prices don’t exist.A beneficialns: A great

(a) Non-rate race (b) Few grand enterprises (c) Indeterminate firm’s demand contour (d) Perfect studies one of many buyersAns: D

Q.8 Demand contour confronted by a competitive agency is (a) Really well inelastic (b) Really well elastic (c) Smaller elastic (d) Nothing out-of theseAns: B

Q.nine Implication out of very large quantity of businesses in the very well competitive marketplace is: (a) No single provider alone normally determine the purchase price (b) Firm becomes price inventor (c) Entryway regarding a different sort of agency becomes rather difficult (d) Not one out of theseAns: A good

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