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1.	No selling costs are required inA. monopolyB. monopolistic competitionC. perfect competitionD. oligopoly.
Answer» Correct Answer - C

2.	AR and MR curves are downward sloping inA. perfect competitionB. okigopolyC. monopolyD. none of these.
Answer» Correct Answer - C

3.	The forms of market in imperfect competition areA. monopolyB. okigopolyC. monopolistic competitionD. all of these.
Answer» Correct Answer - D

4.	There are only a few sellers under :A. perfect competitionB. oligopolyC. monopolyD. oligopoly.
Answer» Correct Answer - D

5.	If the firms under oligopoly produce a differentiated product, the industry is calledA. pure oligoplyB. imperfect oligopolyC. cooperative oligopolyD. non-copperative oligopoly.
Answer» Correct Answer - B

6.	A seller cannot influence the market price under:A. perfect competitionB. monopolyC. monopolistic competitionD. all of the above
Answer» Correct Answer - A

7.	Example of goods produced in a monopolistic form of marketA. Samsung T.V.B. Aata teaC. L.G. refrigeratorD. all of these.
Answer» Correct Answer - D

8.	_____ curve is a horizontal straight line parallel to X-axis in perfect competition.A. ARB. MRC. botha (a) and (b)D. neiter (a) nor (b)
Answer» Correct Answer - C

9.	There is no difference between a firm and an industry in :A. perfect competitionB. monopolyC. monopolistic competitionD. oligopoly.
Answer» Correct Answer - D

10.	Freedom of entry and exit takes place inA. short runB. very short runC. long runD. all of these.
Answer» Correct Answer - C

11.	Ar curve coincides with MR curve in :A. monopolyB. oligopolyC. perfect competitionD. all of these.
Answer» Correct Answer - C

12.	Nature of demand curve under oligopoly :A. perfectly elasticB. perfectly inelasticC. less elasitcD. Indeterminate
Answer» Correct Answer - D