10.

22:

12.

2 D 43268

A market in which there are only two buyers for a commodity is called :

(a) Duopoly. (b) Duopsony.

(c) Oligopoly. (d) Oligopsony.
In which market situation does a monopolist charge uniform price from all consumers :

(a) Pure monopoly. (b) Discriminatory monopoly.

(c) Duopoly. (d) Monopsony.
If the individual demand curve is horizontal to X-axis, then :

(a) The firm is a price maker.

(b) The firm is a price taker.

(c) Marginal revenue is equal to average cost.

(d) The distinction between firm and industry disappears.

OPEC is an example of :
(a) Cartel. (b) Price leader.
(c) Bilateral monopoly. (d) Monopsony.
Dumping implies :

(a) The same price in home and foreign market.
(9) A higher price in the foreign market and lower price in the home market.
(c) A higher price in the home market and lower price in the foreign market.
(d) All the above.
The distinction between firm and industry disappears under :
(a) Oligopoly. (b) Duopoly.
(c) Monopoly. (d) Contestable market.
‘The social cost of producing guns is the amount of butter foregone’. This is called :
(a) Opportunity cost. (b) Explicit cost.
(c) Implicit cost. (d) Social cost.
(12 x % = 6 marks)