Classical

Business Economics - Business Economics MCQ

21:  
In the calculation of elasticity, there is error in case of
A.

Arc elasticity

B.

Point elasticity

C.

Both (a) and (b)

D.

None

 
 

Option: A

Explanation :


22:  

How many sellers are present in duopoly?

A.

1

B.

2

C.

3

D.

4

 
 

Option: B

Explanation :


23:  

Efficient allocation of resources is achieved to greatest extent under

A.

Monopoly

B.

Perfect competition

C.

Oligopoly

D.

Monopolistic competition

 
 

Option: B

Explanation :


24:  

For maximisation of profit in the short run, the condition is

A.

AR = AC

B.

MR = MC

C.

MR = AR

D.

MC = AC

 
 

Option: B

Explanation :


25:  

Study of collusive agreement is

A.

Collusive oligopoly

B.

Non-Collusive oligopoly

C.

Monopoly

D.

All of the above

 
 

Option: A

Explanation :




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