A firm under monopoly can earn ________ in the short run

(a)

Normal profit

(b)

Loss

(c)

Super normal profit

(d)

More loss

Profit of a firm is obtained when __________.

(a)

TR < TC

(b)

TR - MC

(c)

TR > TC

(d)

TR = TC

Perfect competition assumes ____________

(a)

Luxury goods

(b)

Producer goods

(c)

Differentiated goods

(d)

Homogeneous goods

Price discrimination will always lead to _________

(a)

Increase in output

(b)

Increase in profit

(c)

Different prices

(d)

b and c

The supply curve is __________ in the long period.

(a)

Perfectly inelastic

(b)

Inelastic

(c)

Elastic

(d)

Very much elastic

Imperfect competition market which comprises _________

(a)

Monopoly market

(b)

Monopolistic competition market

(c)

Duopoly market

(d)

All of these

TR=TC is  ________

(a)

Profit

(b)

Loss

(c)

Break Even Point

(d)

All of these

Imperfect competition was propounded in __________

(a)

1930

(b)

1932

(c)

1933

(d)

1940

_______ is also called as international price discrimination.

(a)

Oligopoly

(b)

Dumping

(c)

Duopoly

(d)

Monopoly

Price rigidity is the attribute of _______

(a)

Perfect competition

(b)

Oligopoly

(c)

Duopoly

(d)

Monopoly

Define Market.

Who is price-taker?

Define "Excess capacity".

Classify the market on the basis of time.

What is Monopoly?

Differentiate between 'firm' and 'industry'.

State the features of the duopoly.

What are the types of price discrimination? Explain?

Explain 'Monopsony'.

What are the important features of monopolistic competition?

Illustrate price and output determination under Monopoly.

Explain the market on the basis of area.

How is the price and output determined in the long run under monopolistic competition?