Business Studies MCQ Quiz Hub

1. Cartel is a part of ——————
Monopoly
Oligopoly
Duopoly
Perfect competition

2. While determining equilibrium of firm in short-run for perfect competition, the X-axis in the diagram represents —————-
Revenue
Output
Cost
Price

3. While determining equilibrium of firm in short-run for perfect competition, the X-axis in the diagram represents —————-
Revenue
Output
Cost
Price

4. While determining equilibrium of firm in short-run for perfect competition, the X-axis in the diagram represents —————-
Revenue
Output
Cost
Price

5. While determining equilibrium of firm in short-run for perfect competition, the X-axis in the diagram represents —————-
Revenue
Output
Cost
Price

6. While determining equilibrium of firm in short-run for perfect competition, the X-axis in the diagram represents —————-
Revenue
Output
Cost
Price

7. The primary objective for discriminating monopolist is —————–
Loss minimization
Profit maximisation
To cover production cost
All of the above

8. A monopolistic competitive firm sells ————– products.
Differentiated
Homogenous
All of the above
None

9. A monopolistic competitive firm sells ————– products.
Differentiated
Homogenous
All of the above
None

10. A monopolist will never produce at a point where ————
demand is price – inelastic
demand is price – elastic
marginal cost is positive
marginal cost is increasing

11. Which of the following best defines price discrimination?
Charging different prices on the basis of race.
charging different prices for goods with different cost of production
charging different prices based on the cost of service difference
selling a certain product of given quality and cost per unit at different prices to different buyers.

12. Which one is not collusive oligopoly —————-
price leadership
market sharing cartel
price discrimination
price-fixing cartel

13. In an oligopolistic market, there are —————
a large number of sellers and few buyers
few sellers and few buyers
few sellers and large number of buyers
only one seller

14. The essential aspects of oligopoly is ————-
excess capacity
non-price competition
a large number of firms
mutual recognition of interdependence.

15. The kinked demand curve in Sweezy oligopoly model emerges due to assumption that ————-
when one seller decreases or increases his price, others follow.
when one seller decreases his price others follow him.
when one sellers decreases his price others follow but when he increases his price others do not follow
When one seller increases his price others decrease their prices.

16. Under perfect competition, firms do not engage in price-war because ———
firms work in co-operation with one another under the same.
number of firms under the same is very large
the demand for the product of a firm under the same is perfectly elastic
all the above-mentioned conditions are responsible