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 |
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 |
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 |
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 |