10.

iy.

12.

2 C 5656

Under which of the following conditions a perfect competitive firm will be in equilibrium ?

(a) SRMC =P.

(b) SRATC =P.

(c) When it produces at the minimum point on its LRAC.

(d) All the above.
A firm is said to be a price searcher if it’s demand curve is a :

(a) Horizontal. (b) Vertical.

(c) Upward sloping. (d) Downward sloping from left to right.
Which among the following markets enjoys maximum barriers to entry ?

(a) Perfect Competition. (b) Monopolistic competition.

(c) Monopoly. (d) Oligopoly.
Product differentiation is the feature of which of the following markets ?

(a) Monopoly. (b) Monopolistic competition.

(c) Duopoly. (6) Monopsony.
Which of the following is a derived demand ?

(a) Demand for I-Phone. (b) Demand for an Apple.

(c) Demand for Steve Job’s Biography.(d) Demand for labour by Apple company.
A market within which there are only few buyers is :

(a) Monopsony. (b) Ologopsony.

(௦) Oligopoly. (d) Monopoly.

The practice of charging each customer his or her reservation price is called price
discrimination of :

(a) First degree. (b) Third Degree.

(c) Second Degree. (d) Intertemporal. ;
(12 > 2 = 6 marks)