91.
Study of collusive agreement is
92.
In case of monopoly, a firm in the long run can have
93.
Which of the following is not a condition of successful price discrimination
b
Location of markets at distinct place
c
Consumers ignorance and prejudice
d
Different elasticity of demand for different customer
94.
A perfectly competitive industry becomes a monopoly with the same cost conditions, it will now sell
a
A larger output at the old price
b
A larger output at a higher price
c
A reduced output at a higher price
d
An unchanged output at a higher price
95.
The law of variable proportions is
a
also called law of proportionality
b
also called law of non-proportional returns
c
wider and includes law of increasing returns, law of decreasing returns & law of constant return as three phases
96.
When quantity demanded changes due to factors other than price, it is called
97.
Study of demand over two periods is called
98.
Which of the following concepts is considered as a myth
99.
A monopolist charging high price operates on
a
The elastic part of a demand curve
b
The inelastic part of a demand curve
c
Ignores elasticity of demand altogether
d
The constant elastic part of a demand curve
100.
A firm's marginal revenue
d
is positive at point at which the total revenue is maximum
101.
When the income elasticity of demand is greater than unity, the commodity is
102.
The price which a consumer would be willing to pay for a commodity equals to his
d
Does not have any relation to anyone of these
103.
Price discrimination policy helps in increasing profit in case of
d
Monopolistic competition
104.
In the case of an inferior good, the income effect
a
Is equal to the substitution effect
b
Reinforces the substitution effect
c
Partially offsets the substitution effect
d
More than offsets the substitution effect
105.
In oligopoly market kinked demand curve explains
a
Short run average cost curve
b
Long run average cost curve
c
Average variable cost curve
d
Collusion among rival firms
