The Theory of the Firm under Perfect Competition Class 12 MCQs Questions with Answers

1. Can MR be negative or zero.

2. Can TR be a horizontal Straight line?

3. Under perfect competition the number of firms

4. Other name by which average revenue curve known:

5. A producer’s equilibrium is a situation when

6. Profits of the firm will be more at:

7. What should firm do when Marginal revenue is greater than marginal cost?

8. The concept of supply curve is relevant only for?

9. What is price line?

10. Before producer’s equilibrium when MR > MC, the firm earns only

11. Under monopoly price discrimination depends upon:

12. Under which of the following forms of market structure does a firm has no control over the price of its product:

13. In perfect competition, since the firm is a price taker, the ……………. curve is straight line

14. When ………………, the firms are earning just normal profit:

15. Beyond producer’s equilibrium when MR<MC, the firm earns only

16. In perfect competition, in the long run, ………………?

17. Monopolist can determine:

18. Firms in a monopolistic market are price ……………..:

19. Market which have two firms are known as:

20. Which of the following is not an essential condition of pure competition?