A Monopoly‟s demand curve is (a) Same as its average revenue curve ; (b) Same as its supply curve; (c) Same as its cost curve ; (d) Same as that of the factor inputs Answer : (a) Same as its average revenue curve ;...
Under perfect market conditions a firm is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is the maximum; (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum Answer : (b) Profit is the maximum; ...
Which of the following faces a downward sloping demand curve (a) Firm in a competitive market ; (b) Firm in a monopoly market ; (c) Both ; (d) None Answer : (b) Firm in a monopoly market ;...
The demand curve of a Monopoly firm is – (a) Same that of a firm in a perfect competition ; (b) Same as that of the total market demand; (c) Non-exist ; (d) Perfectly elastic Answer : (b) Same as that of the total market demand;...
Total profit of a firm in a perfect competitive market is – (a) Total revenue less total cost ; (b) Marginal revenue less marginal cost; (c) Total revenue less marginal cost ; (d) Total revenue less variable cost Answer : (a) Total revenue less total cost ;...
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