Micro-Economic Analysis-Competitive [NTA-NET (UGC-NET) Economics & Development (01)]: Questions 1 - 4 of 5
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Question 1
Question MCQ▾
Cournot model adopts what kind of strategy is used to examine profit maximisation
Choices
Choice (4) | Response | |
---|---|---|
a. | One firm sets that the price and the other firm follows | |
b. | One firm sets the quantity and the firm follows | |
c. | One firm makes the choice without knowing the choice made by the other firm | |
d. | None of the above |
Question 2
Appeared in Year: 2016
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 3
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 4
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 |