Which of the following is a market structure where the Price is expected to be lower?

(a)

Perfect competition

(b)

Monopoly

(c)

Duopoly

(d)

Oligopoly

Equilibrium condition of a firm is ___________

(a)

MC = MR

(b)

MC > MR

(c)

MC < MR

(d)

MR = Price

Which of the following is a feature of monopolistic competition?

(a)

One seller

(b)

Few sellers

(c)

Product differentiation

(d)

No entry

_____________ classifies market on the basis of time

(a)

Adam Smith

(b)

Alfred Marshall

(c)

Samuelson

(d)

E.H. Chamberlin

Very short period is also called ________ period

(a)

Long Period

(b)

Short Period

(c)

Market Period

(d)

None of these

Very long period market is also called as ____________

(a)

Market Period

(b)

Short Period

(c)

Long Period

(d)

Secular Period

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

Group of the firm is known as _________

(a)

Firm

(b)

Industry

(c)

Market

(d)

None of these

TR=TC is  ________

(a)

Profit

(b)

Loss

(c)

Break Even Point

(d)

All of these