Under perfect competition:
A) AR and MR are identical
B) AR is greater than MR
C) MR is lower than AR
D) None of these
Correct Answer:
Verified
Q11: The demand curve of Monopoly firm is
Q12: The payment given to the factor labour
Q13: Monopoly is:
A)Presence of competition
B)Absence of competition
C)Both A
Q14: A monopolist is a:
A)Price taker
B)Price maker
C)Policy maker
D)All
Q15: Long run equilibrium price is also called:
A)Normal
Q17: Firm and industry are the same under:
A)Perfect
Q18: Kinked demand curve is found under:
A)Monopoly
B)Oligopoly
C)Perfect competition
D)Duopoly
Q19: The point at which the firm covers
Q20: The equilibrium price in the short period
Q21: Cartel is one form of:
A)Monopoly
B)Duopoly
C)Collusive oligopoly
D)Non-collusive oligopoly
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