Non-competitive Markets MCQ for Class 11 Ecomonics Chapter 6 Answers

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MCQ Questions for Class 11 Ecomonics with Answers: Introductory Microeconomics

Q1. When a negative sloping straight-line demand curve, the total revenue curve is.

(i) A rectangle hyperbola
(ii) Convex to the original
(iii) An inverted vertical parabola
(iv) Concave to the origin

(iii) An inverted vertical parabola

Q2. In perfect competition, a company earns an abnormal profit when average revenue exceeds the?

(i) Total revenue
(ii) Average cost
(iii) Total fixed cost
(iv) Marginal revenue

(ii) Average cost

Q3. In perfect competition, when the marginal revenue and marginal cost are equal, profit it?

(i) Zero
(ii) Average
(iii) Maximum
(iv) Negative

(iii) Maximum

Q4. The demand curve of Oligopoly is?

(i) Kinked
(ii) Vertical
(iii) Horizontal
(iv) Rising left to Right

(i) Kinked

Q5. Which market has characteristics of product differentiation

(i) Monopolistic competition
(ii) Oligopoly
(iii) Monopoly
(iv) Perfect competition

(i) Monopolistic competition

Q6. Cartels exist in.

(i) Oligopoly
(ii) Duopoly
(iii) Monopoly
(iv) Perfect competition

(iii) Monopoly

Q7. In monopolistic competition the goods are.

(i) Durable
(ii) Differentiated
(iii) Heterogeneous
(iv) Homogeneous

(ii) Differentiated

Q8. In the monopolistic market, which curves lie below the demand curve and slopes downward?

(i) Marginal cost
(ii) Average cost
(iii) Average revenue
(iv) Marginal revenue

(i) Marginal cost

Q9. Which of the below-mentioned option is not mentioned in imperfect competition?

(i) A large number of buyers
(ii) Single sellers
(iii) Similar/Homogenous product
(iv) Price maker

(iii) Similar/Homogenous product

Q10. The concept of the supply curve is relevant only for?

(i) Oligopoly
(ii) Monopoly
(iii) Monopolistic Competition
(iv) Perfect Competition

(iv) Perfect Competition

Q11. A monopolistic is a price

(i) Acceptor
(ii) Taker
(iii) Giver
(iv) Maker

(ii) Taker

Q12. Under monopoly form of market, TR is maximum when

(i) MR is maximum
(ii) MR < 0 (iii) MR > 0
(iv) MR is zero

(iv) MR is zero

Q13. Which market have characteristic of product differentiation

(i) Monopolistic competition
(ii) Oligopoly
(iii) Monopoly
(iv) Perfect competition

(i) Monopolistic competition

Q14. Price discrimination can take place only in

(i) Perfect competition
(ii) Oligopoly
(iii) Monopolistic competition
(iv) Monopoly

(iv) Monopoly

Q15. Oligopoly having identical products is known as

(i) Pure oligopoly
(ii) Collusive oligopoly
(iii) Independent oligopoly
(iv) None of above

(i) Pure oligopoly

Q16. Under which of the following forms of market structure a firm has no control over the price of its product?

(i) Monopoly
(ii) Perfect competition
(iii) Oligopoly
(iv) Monopolistic competition

(ii) Perfect competition

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Non-competitive Markets MCQ Questions for Class 11 Ecomonics Chapter 6 with Answers