Economics - Study Mode
[#306] A profit maximising monopolist in two separate markets will
Correct Answer
(D) adjust his sales in the two markets, so that his MR in each market just equals his marginal cost
[#307] Consider the following statements. 1. Monopolistic competition is characterised by full control over price. 2. In monopoly, the product may or may not be homogeneous. 3. Perfect mobility of the factors is the characteristic of oligoploy. Which of the statement(s) given above is/are correct?
Correct Answer
(B) Only 2
[#308] Under perfect competition (when input prices are fixed and there are no external economies or diseconomies), the industry supply curve is derived by
Correct Answer
(D) horizontally adding the marginal cost curves
[#309] In which one of the following market situations, are the firms mutually interdependent in pricing-output decisions?
Correct Answer
(D) Oligopoly
[#310] According to marginal productivity theory, the price of a factor is determined by?
Correct Answer
(C) Marginal productivity