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

Edit

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

Edit

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

Edit

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

Edit