Economics Market and Revenue Curves Test 01 Mcqs Preparation Online Market and Revenue Curves Test 01 Mcqs Preparation Online 1. In case of monopoly:A. Marginal revenue is always equal to average revenueB. Marginal revenue curve always slopes upward C. Marginal revenue is always less than average revenueD. Total revenue curve always slopes upward Loading... 2. In the business world:A. Competitive price is always higher than monopoly priceB. A firm working under monopoly wants to become a competitive firm C. A firm working under perfect competition wants to become a monopolyD. Monopoly price is always higher than competitive price Loading... 3. The major difference between perfect competition and monopolistic competition is:A. Rate of profitB. Differentiated productC. Free exist and entryD. Number of firms Loading... 4. A firm under perfect competition is:A. Price breakerB. Price takerC. Price makerD. Price shaker Loading... 5. In case of perfect competition in the market:A. Marginal revenue is always less than average revenueB. Marginal revenue is always equal to average revenueC. Marginal revenue curve always slopes upward D. Marginal revenue curve always slopes downward Loading... 6. Which is a condition for existence of monopoly:A. Big sizeB. Identical productC. Absence of government taxesD. No close substitute Loading... 7. Which of the following is one of the assumptions of perfect competition.A. Many buyers and few sellersB. All sellers and buyers are honestC. Few buyers and few sellersD. Many buyers and many sellers Loading... 8. This kind of market is undesirable:A. National marketB. General marketsC. SpecializedD. Local market Loading... 9. Which is not true:A. Perfect competition does not exist in real worldB. Every monopoly is evilC. Perfect monopoly does not exist in real world D. Every firm wants to reduce competition Loading... 10. Which of the following markets comes closet to perfect market.A. Cold drinks marketB. Stock marketC. Wheat market D. Cigarette market Loading... Loading... Related PostsMarket Equilibrium Test 1 Mcqs Online PreparationBoard of Revenue Punjab Jobs 2023 Online ApplyFPSC Inspector Inland Revenue Past Papers 2023 PDF DownloadJunior Clerk Jobs KPK Revenue & Estate Department NTS Test…FBR Inspector Inland Revenue FPSC Jobs Roll No Slips…KPK Revenue Authority KPRA Jobs NTS Roll Number Slips 2023 Continue Reading Previous Money and Value of Money Test 01 Mcqs Preparation OnlineNext International Economic Organisations Test 01 Mcqs Preparation Online Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ