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26. Under perfect competition, price of the product
Can be controlled
Cannot be controlled
Can be controlled within certain limit
None of the above
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27. If the demand curve confronting an individual firm is perfectly elastic, then firm is
Price taker
Adjust output
Adjust price
All of these
28. Given:Epx = Percentage change in Qy / Percentage change in PxThe above relationship is :
Arc Cross Price Elasticity
Cost Output
Cost Profit
Capital Budgeting
29. Cartels is a form of
Collusive oligopoly
Monopoly
Non-Collusive oligopoly
None of these
30. Which one is not normally possible in case of monopoly?
MC = MR
AC = AR
MR = AR
MR = P
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