Classical

Business Economics - Business Economics Multiple Choice Questions

36:  
Which one of the following is not correct about the price discrimination by a monopolist, who intends to
A.

Maximise the sales / profit

B.

Share the consumer's surplus

C.

Increase the welfare of masses.

D.

Reduce the welfare of masses.

 
 

Option: C

Explanation :

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37:  
Which of the following is not a condition of successful price discrimination
A.
Different elasticity of demand for different customer
B.

Seller should be an MNC

C.

Location of markets at distinct place

D.

Consumers ignorance and prejudice

 
 

Option: B

Explanation :

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38:  

Which of the following concepts is considered as a myth

A.

Oligopoly

B.

Perfect competition

C.

Monopoly

D.

Imperfect competition

 
 

Option: B

Explanation :

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39:  
The consumer is in equilibrium at a point where the budget line
A.

Is below an indifference curve

B.

Is above an indifference curve

C.

Is tangent to an indifference curve

D.

Cuts an indifference curve

 
 

Option: C

Explanation :

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40:  
Which of the following does not influence the individual demand for a product
A.

 price of product

B.

price of close substitute

C.

state of production technology

D.

Change in climatic conditions.

 
 

Option: C

Explanation :

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