11th Class Principles of Economics MCQS Part I: Price and Production Determination (Perfect Competition, Monopoly) Online Test 2

3-cp-3-e-the-law-which-applies-on-agriculture-immediately-3-a-3-c-2-fp-3-e_-_3-cp-3-elaw-of-decreasing-return-3-c-2-fp-3-e,3-cp-3-e-the-number-of-laws-of-costs-is-3-a-3-c-2-fp-3-e_-_3-cp-3-e-three-3-c-2-fp-3-e,3-cp-3-e-the-relationship-between-price-and-supply-is-3-a-3-c-2-fp-3-e_-_3-cp-3-edirect-3-c-2-fp-3-e,3-cp-3-e-when-average-cost-falls-2-c-marginal-cost-is-average-cost-3-a-3-c-2-fp-3-e_-_3-cp-3-emore-than-3-c-2-fp-3-e,3-cp-3-e-when-marginal-utility-is-zero-2-c-then-total-utility-is-3-f-3-c-2-fp-3-e_-_3-cp-3-e-maximum-3-c-2-fp-3-e,3-cp-3-e-when-no-satisfaction-is-attained-by-the-consumption-of-a-commodity-2-c-its-marginal-utility-is-5-c-5-c-3-a-3-c-2-fp-3-e_-_3-cp-3-ezero-3-c-2-fp-3-e,3-cp-3-e-when-total-revenue-is-maximum-2-c-marginal-revenue-is-3-a-3-c-2-fp-3-e_-_3-cp-3-ezero-3-c-2-fp-3-e,3-cp-3-e-which-laws-are-definite-and-universal-3-f-3-c-2-fp-3-e_-_3-cp-3-escientific-laws-3-c-2-fp-3-e,3-cp-3-e-which-one-of-the-following-is-transfer-payments-3-a-3-c-2-fp-3-e_-_3-cp-3-eunemployment-allowances-3-c-2-fp-3-e,3-cp-3-ea-monopolistic-firm-has-control-of-3-a-3-c-2-fp-3-e_-_3-cp-3-e-whole-market-supply-by-one-firm-3-c-2-fp-3-e,a-monopolist-firm-usually-earns-3-a_-_abnormal-profit-or-super-normal-profit,a-monopolistic-firm-has-control-of-3-a_-_whole-market-supply-by-one-firm,average-revenue-curve-under-perfect-competition-is-3-a_-_horizontal,firm-e-2-80-99-s-equilibrium-is-at-that-point-where-3-a_-_mc-3-d-mr,in-perfect-competition-the-average-revenue-curve-is-3-a_-_horizontal,in-short-run-2-c-a-monopolist-firm-usually-gains-3-a_-_abnormal-profit,price-is-determined-under-perfect-competition-3-a_-_by-forces-of-demand-and-supply,price-is-determined-under-perfect-competition-by-3-a_-_forces-of-demand-and-supply,price-is-equal-to-3-a_-_average-revenue,shut-down-point-appears-when-3-a_-_ar-3-d-avc,under-monopoly-average-revenue-curve-remains-the-marginal-revenue-curve-3-a_-_above,under-perfect-competition-2-c-demand-of-commodity-is-3-a_-_less-elastic,when-total-revenue-and-total-cost-of-a-firm-are-equal-2-c-the-firm-earns-3-a_-_normal-profit