Important Question on Monopoly (Economics) for all Competitive Exams

Important Question on Monopoly (Economics)

 

Important Question on Monopoly (Economics) / Important Questions on Monopoly /Top Ten question on Monopoly (Economics) / MCQ’s on Monopoly (Economics) / Questions asked in previous year exams on Monopoly (Economics)

Important Question on Monopoly (Economics)

Monopoly is a market situation in which there is a single seller, there are no close substitutes for commodity it produces, there are barriers to entry of the new firms. E.g. Railways. There are no difference between firm and industry. Demand curve is the average revenue curve and its slopes downward. Price is determined with the total revenue and total cost approach and marginal revenue and marginal cost approach.

Important Question on Monopoly (Economics)

1. Monopoly is also an _______ .

(a) Industry

(b) Marke

(c) Shop

(d) None of these

2. Slope of the AR curve under monopoly is _________ .

(a) Upward

(b) Downward

(c) Horizontal

(d) Vertical

3. A monopolist will be earning maximum profits under TR & TC approach when :

(a) TR = TC

(b) TR > TC

(c) TR < TC

(d) When difference between TR & TC is maximum

 

4. Under marginal revenue & Marginal Cost approach a monopolist will be at equilibrium when :

(a) MR =MC

(b) MR >MC

(c) MR <MC

(d) MR =MC and MC curve cuts MR from below

 

Important Question on Monopoly (Economics)

5. A Monopolists in Short-run will be incurring:

(a) Max. Loss

(b) Min. Loss

(c) Average Loss

(d) All of the above

 

6. In short-run , the monopolist may continue his production as long as the low prices covers his:

(a) AF

(b) ATC

(c) AVC

(d) All of these

 

7. Price policy of the monopolists is called :

(a) Price discrimination

(b) Price stabilization

(c) Fair price policy

(d) Unfavorable price policy

 

8. Which of the following is not a kind of of price discrimination policy :

(a) Personal

(b) Used

(c) Geographical

(d) Nature

 

9. Which of the following is not a degree of price discrimination :

(a) 1st degree

(b) 2nd degree

(c) 3rd degree

(d) 4th degree

 

10. In monopoly competition , a monopolist is a :

(a) Price taker

(b) Price maker

(c) Price maker & taker

(d) None of these

 

 

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1. a
2. b
3. d
4. d
5. b
6. c
7. a
8. d
9. d
10. c

View Answers

 

 

 

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