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Business Economics - Business Economics Section 1

Avatto > > CS foundation > > PRACTICE QUESTIONS > > Business Economics > > Business Economics Section 1

61. Assertion (A). The demand for the product of the firm under oligopoly is at prices highest than the prevailing market prices.
Reason (R). The oligopolistic firm faces a kinked demand curve.

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62. Consumer reaches a saturation point for a product when MU is

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63. Assertion (A). In oligopoly price and output are generally indeterminate
Reason (R). The above situation occurs due to the interdependence of the firms under oligopoly

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64. A market situation in which there are only a few sellers & each seller can influence its price-output policy is called

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65. Two conditions are required to be there for the equilibrium under monopoly. These are

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Business Economics Section 1