Business Economics - Business Economics Objective Type Questions

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26:  

In the long run, under perfect competition price of the factor is equal to

A.	Marginal revenue product (MRP)
B.	Average revenue product (ARP)
C.	Both (A) and (B)
D.	Marginal physical product
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	Option: C Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

27:  

The elasticity of substitution between two inputs in CES production function

A.	Decreases continuously
B.	Increases continuously
C.	Remains constant
D.	None of these
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	Option: C Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

28:  

Bilateral monopoly means

A.	A monopoly seller buying his input from many suppliers
B.	Two rival buyers only
C.	Two rival sellers only
D.	A monopolist facing a monopsonist
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	Option: D Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

29:  

Which of the following is an assumption of the model of perfect competition?

A.	Product homogeneity
B.	No government regulation
C.	Perfect mobility of factors of production
D.	All of the above
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	Option: D Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

30:  

Monopoly exploitation is reduced by regulation that

A.	restricts output.
B.	enhances product-market competition.
C.	increases the bargaining power of workers.
D.	increases the bargaining power of employers
	Answer Report Discuss
	Option: B Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

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