Talvir Singh is teaching live on Unacademy Plus
TARGET JRF JUNE 2019 80 DAYS DAILY MCQ SERIES COMMERCE/MANAGEMENT BY TALVIR SINGH
unacademy Lessons by al Weekly quizzes structured courses top Educators l & doubt-clearing All live & plus Talvir Singh Referral Code - talvirdhiman-1378 TALVIR SINGH
1. The difference between what a consumer is willing to pay for a unit of a good and what must be paid when actually buying it is called: . A. Producer surplus. . B. Consumer surplus, . C. Cost-benefit analysis. . D. Net utility.
2. Which of following is a key assumption of a perfectly competitive market? . A. Firms can influence market price. . C. It is difficult for new sellers to enter the . D. Each seller has a very small share of the B. Commodities have few sellers. market. market.
3. A firm maximizes profit by operating at the level of output where: A. Average revenue equals average cost. . B. Average revenue equals average variable cost. C. Total costs are minimized. D. Marginal revenue equals marginal cost.
. 4. The demand curve facing a perfectly competitive firm is: market demand curve. market demand curve. . A. Downward-sloping and less flat than the B. Downward-sloping and more flat than the . C. Perfectly horizontal. . D. Perfectly vertical.
5. The monopolist has no supply curve because: . A. The quantity supplied at any particular price depends on the monopolist's demand curve. B. The monopolist's marginal cost curve changes considerably over time. The relationship between price and quantity depends on both marginal cost and average cost. . C. . D. There is a single seller in the market.
6. A doctor sizes up patients' income and charges wealthy patients more than poorer ones. This pricing scheme represents a form of: . A. First-degree price discrimination. * B. Second-degree price discrimination. C. Third-degree price discrimination. D. Pricing at each consumer's reservation price.
7. For which of the following market structures is it assumed that there are barriers to entry? . A. Perfect competition . B. Monopolistic competition . C. Monopoly D. All of the above