NCERT Class 11 Economics MCQ Chapter 14 Non-competitive Markets Solutions to each chapter is provided in the list so that you can easily browse through different chapters NCERT Class 11 Economics MCQ Chapter 14 Non-competitive Markets Question Answer and select need one. NCERT Class 11 Economics MCQ Chapter 14 Non-competitive Markets Solutions Download PDF. NCERT Class 11 Introductory Microeconomics Multiple Choice Solutions.
NCERT Class 11 Economics MCQ Chapter 14 Non-competitive Markets
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. NCERT Class 11 Economics Objective Type Solutions are part of All Subject Solutions. Here we have given CBSE Class 11 Economics Multiple Choice Question and Answer, HS First Year Economics MCQ Solutions for All Chapters, You can practice these here.
Non-competitive Markets
Chapter: 14
PART – (B) INTRODUCTORY MICROECONOMICS
MCQ
1. Under which of the following forms of market structure a firm has no control over the price of its product?
(a) Monopoly.
(b) Perfect competition.
(c) Monopolistic competition.
(d) None of these.
Ans: (b) Perfect competition.
2. Under perfect competition, commodities are ___________ in nature.
(a) Homogenous.
(b) Heterogeneous.
(c) Complementary.
(d) Supplementary.
Ans: (a) Homogenous.
3. A firm is a price-taker under:
(a) Perfect Competition.
(b) Monopolistic Competition.
(c) Monopoly.
(d) None of these.
Ans: (a) Perfect Competition.
4. 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.
5. 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.
6. The demand curve faced by a perfectly competitive firm is:
(a) Negatively sloped.
(b) Vertical.
(c) Horizontal.
(d) Positively shaped.
Ans: (a) Negatively sloped.
7. In a perfect competitive market, ____________ price of a commodity prevails.
(a) Different.
(b) Uniform.
(c) Very high.
(d) Very low.
Ans: (b) Uniform.
8. 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.
9. Marginal revenue of a firm is constant throughout under:
(a) Perfect competition.
(b) Monopolistic competition.
(c) Monopoly.
(d) All of the above.
Ans: (a) Perfect competition.
10. Under perfect competition:
(a) AR = MR.
(b) AR > MR.
(c) AR < MR.
(d) None of the above.
Ans: (a) AR = MR
11. 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.
12. Which of the following is not a characteristic of imperfect competition?
(a) Prices vary from seller to seller.
(b) All the products are homogeneous.
(c) Profits of the seller are included in the price.
(d) None of the above.
Ans: (b) All the products are homogeneous.
13. 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.
14. The area under the price line is equal to:
(a) AR.
(b) TR.
(c) MR.
(d) All of the above.
Ans: (a) AR.
15. Profits of the firm will be more at:
(a) MR = MC.
(b) Additional revenue from extra units equals its additional cost.
(c) Both of the above.
(d) None of these.
Ans: (c) Both of the above.
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