Classical

Business Economics - Business Economics MCQ

31:  

A firm's marginal revenue 

A.

is always negative

B.

can be positive

C.

is always positive

D.
is positive at point at which the total revenue is maximum
 
 

Option: D

Explanation :


32:  
In a monopoly market, an upward shift in the market demand results in a new equilibrium with
A.

A higher quantity and a lower price

B.

A higher quantity and the same price

C.

A higher quantity and higher price

D.

All of the above

 
 

Option: D

Explanation :


33:  

Demand Analysis includes:

A.

Demand Forecasting

B.

Demand Differentials

C.

Demand Determinations

D.

All of the above

 
 

Option: D

Explanation :


34:  

In the case of monopolistic competition

A.

MR curve cannot be defined

B.

AR curve cannot be defined

C.

The short run supply curve cannot be defined

D.

None of the above

 
 

Option: C

Explanation :


35:  
Which economist stated the positive impact of monopoly?
A.

Marshall

B.

Adam Smith

C.

Joseph Schumpeter

D.

Pigou

 
 

Option: C

Explanation :




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