GATE (Graduate Aptitude Test in Engineering) Economics (XH-C1): Questions 1200 - 1203 of 1877

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Question 1200

Appeared in Year: 2016

Question MCQ▾

Identify a characteristic of a monopolistic competitive market from the following:

Choices

Choice (4)Response

a.

Existence of large number of buyers and sellers

b.

Individual firms are price-takers

c.

No barriers to entry/exit of firms

d.

Heavy costs are incurred to attract customers

Edit

Question 1201

Appeared in Year: 2016

Question MCQ▾

An increase in output in a perfectly competitive and constant cost industry which is in the long run equilibrium, will come

Choices

Choice (4)Response

a.

entirely from new firms

b.

partly from new firms and from existing firms

c.

either entirely from new firms or entirely from existing firms

d.

entirely from existing firms

Edit

Question 1202

Appeared in Year: 2016

Question MCQ▾

In the context of oligopoly, the kinked demand hypothesis is designed to explain

Choices

Choice (4)Response

a.

Price leadership

b.

Price Rigidity

c.

Price and output determination

d.

Collusion among rivals

Edit

Question 1203

Appeared in Year: 2019

Question MCQ▾

“Under some conditions, it makes no difference to efficiency whether the polluter has a right to pollute or the victim has a right to clean air.” This statement is related to the work of: (June)

Choices

Choice (4)Response

a.

G Hardin

b.

N Kaldor

c.

R Coase

d.

Julian Simon

Edit