Classical

Business Economics - Business Economics MCQ

26:  

Under perfect competition, price of the product

A.

Can be controlled

B.

Cannot be controlled

C.

Can be controlled within certain limit

D.

None of the above

 
 

Option: B

Explanation :


27:  
If the demand curve confronting an individual firm is perfectly elastic, then firm is
A.

Price taker

B.

Adjust output

C.

Adjust price

D.

All of these

 
 

Option: A

Explanation :


28:  
Given:
Epx = Percentage change in Qy / Percentage change in  Px
 
The above relationship is :
A.

Arc Cross Price Elasticity

B.

Cost Output

C.

Cost Profit

D.

Capital Budgeting

 
 

Option: A

Explanation :


29:  

Cartels is a form of

A.

Collusive oligopoly

B.

Monopoly

C.

Non-Collusive oligopoly

D.

None of these

 
 

Option: A

Explanation :


30:  

Which one is not normally possible in case of monopoly?

A.

MC = MR

B.

AC = AR

C.

MR = AR

D.

MR = P

 
 

Option: C

Explanation :




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