GATE (Graduate Aptitude Test in Engineering) Economics: Questions 1201 - 1204 of 1256

Access detailed explanations (illustrated with images and videos) to 1256 questions. Access all new questions- tracking exam pattern and syllabus. View the complete topic-wise distribution of questions. Unlimited Access, Unlimited Time, on Unlimited Devices!

View Sample Explanation or View Features.

Rs. 500.00 -OR-

How to register? Already Subscribed?

Question 1201

Marginal Productivity Theory of Distribution in Perfectly Competitive Markets

Appeared in Year: 2016 (UGC NET)

Question

MCQ▾

Which of the following statement is true for a perfectly competitive firm?

Choices

Choice (4)Response

a.

In the long run all firms have slowly increased profits

b.

In the long run all firms earn super normal profits

c.

In the long run all firms in the market earn only normal profit

d.

In the long run all firms are making losses

Question 1202

Theory of Employment in Imperfectly Competitive Markets

Appeared in Year: 2016 (UGC NET)

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 1203

Marginal Productivity Theory of Distribution in Perfectly Competitive Markets

Appeared in Year: 2016 (UGC NET)

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 1204

Marginal Productivity Theory of Distribution in Perfectly Competitive Markets

Appeared in Year: 2016 (UGC NET)

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

Developed by: