Non-Competitive Markets CBSE Questions & Answers

Non-Competitive Markets

This is Economics Class 12 Non-Competitive Markets CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
A monopoly structure must have one seller, has no substitute, and entry into the industry is preventeD.
  • A
    Can’t say
  • B
    1
    Correct
  • C
    False
  • D
    None of these
2
The market price of the commodity depends on the amount supplied by the monopoly firm.
  • A
    None of these
  • B
    Can’t say
  • C
    False
  • D
    True
    Correct
3
The market demand curve is the marginal revenue curve for the monopoly firm.
  • A
    False
    Correct
  • B
    Can’t say
  • C
    None of these
  • D
    True
4
The shape of the total revenue curve depends on the shape of the average revenue curve.
  • A
    True
    Correct
  • B
    None of these
  • C
    Can’t say
  • D
    False
5
In the case of a negatively sloping straight line demand curve, the total revenue curve is
  • A
    A rectangular hyperbola
  • B
    Concave to the origin
  • C
    An inverted vertical parabolA.
    Correct
  • D
    Convex to the origin
6
Average revenue for any quantity level can be measured by the slope of the total revenue curve.
  • A
    True
    Correct
  • B
    False
  • C
    None of these
  • D
    Can’t say
7
Marginal revenue for any quantity level can be measured by the slope of the total revenue curve.
  • A
    Can’t say
  • B
    None of these
  • C
    True
    Correct
  • D
    False
8
Tooth paste industry is an example of?
  • A
    Oligopoly
  • B
    Perfect competition
  • C
    Monopolistic Competition
    Correct
  • D
    Monopoly
9
Cartels exist in
  • A
    Duopoly
  • B
    Monopoly
  • C
    Perfect Competition
  • D
    Oligopoly
    Correct
10
Under which market conditions firms make only Normal profit in the long run
  • A
    Monopoly
  • B
    Monopolistic Competition
    Correct
  • C
    Oligopoly
  • D
    Duopoly
11
The demand curve of a monopoly firm will be:
  • A
    Straight line
  • B
    Downward sloping
    Correct
  • C
    Vertical
  • D
    Upward sloping
12
A firm practicing price discrimination will be?
  • A
    Charges different prices for different qualities of product.
  • B
    Buying only from firms selling in bulk at a discount.
  • C
    Charging different prices in different markets for a product.
    Correct
  • D
    Buying from one market and selling it in another market.
13
Price discrimination under monopoly depends on?
  • A
    Elasticity of demand for the commodity
    Correct
  • B
    The size of the market where he sells
  • C
    Elasticity of supply for the commodity
  • D
    Taxes and other overhead expenses
14
The AR curve and industry demand curve are same in case of?
  • A
    Monopoly
    Correct
  • B
    Oligopoly
  • C
    Perfect competition
  • D
    None of above
15
The market structure in which the number of sellers is small and there is interdependence in decision making by the firms is known as
  • A
    Monopoly
  • B
    Perfect competition
  • C
    Monopolistic competition
  • D
    Oligopoly
    Correct