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Forms of Market and Price Determination (MCQs)
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Forms of Market and Price Determination (MCQs)
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24 Questions

1. Market supply curve of perishable goods is a vertical straight line parallel to Y- axis. It happens in which of the following periods?
2. Which market induces trusts and cartels?
3. Under perfect competition, equilibrium price of the commodity is determined by:
4. In monopolistic competition the products are:
5. Under perfect competition - Average Revenue' and - Marginal Revenue' are indicated by
6. If the demand curve of a firm is a horizontal straight line
7. Which characteristic of monopolistic competition is compatible with monopoly?
8. If the demand curve of a firm is a horizontal straight line
9. Firm's demand cuve under monopoly shows:
10. The market price is related to:
11. The period of time, when supply is fully adjusted to change in demand is called:
12. Compared with monopolistic competition, a firm's demand curve under monopoly is
13. If demand for a product falls, equilibrium price will
14. When will increase in supply bring down the price, leaving the quantity demanded unchanged?
15. In which kind of market, a firm is a price- taker?
16. Supply being perfectly inelastic, what will be the effect of increase or decrease in demand on price and equilibrium quantity?
17. In the context of monopolistic competition one of the following statements is correct?
18. Compared with monopolistic competition, a firm's demand curve under monopoly is
19. A market situation in which there are only two producers is called
20. What will be the effect on equilibrium price if supply is decreased without any change in demand?
21. What would price ceiling lead to when the maximum price is fixed lower than the equal price?
22. A market situation in which there are only two producers is called
23. What is the shape of the average revenue curve in perfect competition?
24. Charging different prices from different buyers for the same good is called

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