Market and Revenue Curves Test 01 Mcqs Preparation Online Shani Malik — April 24, 2018 in Economics • add comment Market and Revenue Curves Test 01 Mcqs Preparation Online 1. Which is a condition for existence of monopoly:A. Big sizeB. Absence of government taxesC. Identical productD. No close substitute Loading... 2. In case of monopoly:A. Marginal revenue is always less than average revenueB. Marginal revenue curve always slopes upward C. Marginal revenue is always equal to average revenueD. Total revenue curve always slopes upward Loading... 3. Which of the following is one of the assumptions of perfect competition.A. All sellers and buyers are honestB. Few buyers and few sellersC. Many buyers and many sellersD. Many buyers and few sellers Loading... 4. Which is not true:A. Every firm wants to reduce competitionB. Perfect monopoly does not exist in real world C. Every monopoly is evilD. Perfect competition does not exist in real world Loading... 5. In case of perfect competition in the market:A. Marginal revenue is always equal to average revenueB. Marginal revenue is always less than average revenueC. Marginal revenue curve always slopes upward D. Marginal revenue curve always slopes downward Loading... 6. The major difference between perfect competition and monopolistic competition is:A. Number of firmsB. Differentiated productC. Rate of profitD. Free exist and entry Loading... 7. This kind of market is undesirable:A. SpecializedB. Local marketC. National marketD. General markets Loading... 8. In the business world:A. A firm working under perfect competition wants to become a monopolyB. A firm working under monopoly wants to become a competitive firm C. Competitive price is always higher than monopoly priceD. Monopoly price is always higher than competitive price Loading... 9. Which of the following markets comes closet to perfect market.A. Cigarette marketB. Stock marketC. Wheat market D. Cold drinks market Loading... 10. A firm under perfect competition is:A. Price shakerB. Price breakerC. Price makerD. Price taker Loading... Loading... Related NTS Results Post:Market Equilibrium Test 1 Mcqs Online PreparationGeography Test 3 Mcqs Online PreparationGeography Test 2 Mcqs Online PreparationChemistry MCQs Test 05 Online PreparationGeography Test 1 Mcqs Online PreparationChemistry MCQs Test 06 Online PreparationBiology Mcqs Test 06 Online PreparationChemistry MCQs Test 07 Online Preparation