MCQ Non-Competitive Markets Chapter 6 Class 12 Microeconomics Advertisement 1. Measures to improve the adverse balance of payment includes:Currency devaluationImport substitutionExchange controlAll of the aboveQuestion 1 of 152. Monopolistic competition differs from perfect competition primarily because—in monopolistic competition firms can differentiate their products.in perfect competition firms can differentiate their products.in monopolistic competition entry into the industry is blocked.in monopolistic competition there are relatively few barriers to entry.Question 2 of 153. When there is unfavourable balance of trade?X > MX = MX < MNone of theseQuestion 3 of 154. The firm and the industry are one and the same in:Monopolistic competitionMonopolyDuopolyOligopolyQuestion 4 of 155. Which items are included in the Balance of Payments?Visible ItemsInvisible ItemsCapital TransfersAll the aboveQuestion 5 of 156. The demand curve of Oligopoly is?KinkedVerticalHorizontalRising left to RightQuestion 6 of 157. Under monopoly form of market, TR is maximum whenMR is maximumMR < 0MR > 0MR is zeroQuestion 7 of 158. Market which has two firms is known asDuopolyMonopolistic CompetitionOligopolyNone of TheseQuestion 8 of 159. One characteristic not typical of Oligopolistic industry is its:Horizontal demand curve.Too much importance to non-price competition.Price leadership.A small number of firms in the industry.Question 9 of 1510. In perfect competition, a company earns an abnormal profit when average revenue exceeds the?Total revenueAverage costTotal fixed costMarginal revenueQuestion 10 of 1511. Which one is a merit of the flexible exchange rate?Simple SystemContinuous AdjustmentsImproves Balance of PaymentsAll the aboveQuestion 11 of 1512. In perfect competition, when the marginal revenue and marginal cost are equal, profit it?ZeroAverageMaximumNegativeQuestion 12 of 1513. Other things remaining unchanged, when in a country the price of foreign currency rises, national income is:Likely to riseLikely to fallLikely to rise and fall bothNot affectedQuestion 13 of 1514. Which market have characteristic of product differentiationMonopolistic competitionOligopolyMonopolyPerfect competitionQuestion 14 of 1515. The market where the national currencies are traded for one another is known as ________Domestic exchange marketForeign exchange marketBazaarShopQuestion 15 of 15 Loading...
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