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Business Economics - Business Economics Objective Type Questions

46:

A monopolist charging high price operates on

A.	The constant elastic part of a demand curve
B.	The inelastic part of a demand curve
C.	The elastic part of a demand curve
D.	Ignores elasticity of demand altogether
	Answer Report Discuss
	Option: B Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

47:

When a monopolist is in

A.	Long-run equilibrium, he mayor may not be in short-run equilibrium
B.	Long-run equilibrium, he will also be in short-run equilibrium
C.	Short-run equilibrium, he will also be in long-run equilibrium
D.	None of the above
	Answer Report Discuss
	Option: B Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

48:

The kinked demand curve theory explains that even when the demand conditions ........... the price ............ .

A.	Change, changes
B.	Change, remains stable
C.	Remain stable, change
D.	Remain stable, rise
	Answer Report Discuss
	Option: B Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

49:

Under monopoly the supply curve is absent because

A.	There is no entry for others
B.	The monopolist always makes profit
C.	Equilibrium involves MC = MR and MC<P
D.	The monopolist controls the supply
	Answer Report Discuss
	Option: C Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

50:

In monopoly, the relationship between average revenue and marginal revenue curves is as follows:

A.	Average revenue curve lies above the MR-curve
B.	AR curve lies below the MR-curve
C.	AR curve coincides with the MR-curve
D.	AR curve is parallel to the MR-curve
	Answer Report Discuss
	Option: A Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

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