Non-competitive Markets Class 12 MCQs Questions with Answers

1. In perfect competition, in the long run, if a new firm enters the industry the supply curve shifts to the right resulting in_________?

2. When a negative sloping straight-line demand curve, the total revenue curve is.

3. Cartels exist in.

4. The demand curve of Oligopoly is?

5. Which market have characteristic of product differentiation

6. Which of the following is not a characteristic feature of imperfect competition?

7. A monopolistic is a price

8. Under which of the following forms of market structure a firm has no control over the price of its product?

9. Which of the following type of competition is just a theoretical economic concept, not a realistic case where actual competition and trade take place?

10. In monopolistic competition the goods are.

11. Which of the below mentioned option is not mentioned in imperfect competition?

12. Price discrimination can take place only in

13. The concept of the supply curve is relevant only for?

14. Oligopoly having identical products is known as

15. Which market has characteristics of product differentiation

16. In perfect competition, when the marginal revenue and marginal cost are equal, profit it?

17. The firm and the industry are one and the same in:

18. In perfect competition, a company earns an abnormal profit when average revenue exceeds the

19. Under monopoly form of market, TR is maximum when

20. In the monopolistic market, which curves lie below the demand curve and slopes downward?