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Class 11 Economics MCQ Chapter 14 Non-competitive Markets
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Non-competitive Markets
Chapter: 14
PART – (B) INTRODUCTORY MACROECONOMICS
| MCQ |
1. Which of the following is not the feature of an imperfect competition?
(a) Large number of buyers.
(b) Single seller.
(c) Homogeneous products.
(d) Price maker.
Ans: (c) Homogeneous products.
2. Under perfect competition, commodities are in nature.
(a) Homogenous.
(b) Heterogeneous.
(c) Complementary.
(d) Supplementary.
Ans: (a) Homogenous.
3. In the case of a negatively sloping straight line demand curve, the total revenue curve is:
(a) A rectangular hyperbola.
(b) Convex to the origin.
(c) An inverted vertical parabola.
(d) Concave to the origin.
Ans: (c) An inverted vertical parabola.
4. Market which has two firms is known as:
(a) Duopoly.
(b) Monopolistic Competition.
(c) Oligopoly.
(d) None of These.
Ans: (a) Duopoly.
5. In which type of market transportation costs are assumed to be zero?
(a) Perfect competition.
(b) Monopolistic competition.
(c) Monopoly.
(d) None of these.
Ans: (a) Perfect competition.
6. A firm is not a price-maker and under:
(a) Monopolistic Competition.
(b) Monopoly.
(c) Perfect Competition.
(d) None of these.
Ans: (c) Perfect Competition.
7. Oligopoly having identical products is known as:
(a) Pure oligopoly.
(b) Collusive oligopoly.
(c) All of the above.
(d) None of the above.
Ans: (a) Pure oligopoly.
8. In a perfect competitive market, _____price of a commodity prevails.
(a) Different.
(b) Uniform.
(c) Very high.
(d) Very low.
Ans: (b) Uniform.
9. Demand curve of a firm is perfectly elastic under:
(a) Perfect competition.
(b) Monopoly.
(c) Monopolistic competition.
(d) None of these.
Ans: (a) Perfect competition.
10. Which market have characteristic of product differentiation:
(a) Monopolistic competition.
(b) Supply.
(c) Demand.
(d) Perfect competition.
Ans: (a) Monopolistic competition.
11. Under perfect competition:
(a) AR = MR
(b) AR > MR
(c) AR < MR
(d) None of the above.
Ans: (a) AR = MR
12. Which of the following is not the feature of perfect competition?
(a) Large number of buyers and sellers of the product.
(b) Products are homogeneous.
(c) Firm is price maker.
(d) Transportation costs are assumed to be zero.
Ans: (c) Firm is price maker.
13. The demand curve of oligopoly is?
(a) Kinked.
(b) Vertical.
(c) Horizontal.
(d) Rising left to right.
Ans: (a) Kinked.
14. The horizontal demand curve for a firm is one of the characteristic of:
(a) Monopoly.
(b) Monopolistic competition.
(c) Perfect competition.
(d) None of these.
Ans: (c) Perfect competition.
15. The area under the price line is equal to:
(a) AR
(b) TR
(c) MR
(d) All of the above.
Ans: (a) AR
