MCQ Questions Class 11 Economics Part 2: Introductory Microeconomics Chapter 4 The Theory of the Firm under Perfect Competition with Answers

Free PDF Download of CBSE Class 11 Economics Part- 2 : Introductory Microeconomics Chapter 4 The Theory of the Firm under Perfect Competition Multiple Choice Questions with Answers.Based on Latest Exam Pattern. Students can solve MCQ NCERT Class 11 Economics Part- 2 : Introductory Microeconomics Chapter 4 The Theory of the Firm under Perfect Competition Multiple Choice Questions with Answers to know their preparation level.

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

Class 11 Economics Microeconomics: Introductory Microeconomics (Part-B) Chapter 4 The Theory of the Firm under Perfect Competition MCQ Questions with Answers

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

 
 
 
 

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

 
 
 
 

3. What is price line?

 
 
 
 

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

 
 
 
 

5. Under perfect competition the number of firms

 
 
 
 

6. Other name by which average revenue curve known:

 
 
 
 

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

 
 
 
 

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

 
 
 
 

9. A producer’s equilibrium is a situation when

 
 
 
 

10. Monopolist can determine:

 
 
 
 

11. Market which have two firms are known as:

 
 
 
 

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

 
 
 
 

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

 
 
 
 

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

 
 
 
 

15. Profits of the firm will be more at:

 
 
 
 

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

 
 
 
 

17. Can MR be negative or zero.

 
 
 
 

18. Can TR be a horizontal Straight line?

 
 
 
 

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

 
 
 
 

20. Under monopoly price discrimination depends upon:

 
 
 
 

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