NCERT Class 11 Economics MCQ : The Theory of the Firm under Perfect Competition
Elevate your understanding of economic theory with our specialized Multiple Choice Questions (MCQs) page focused on “The Theory of the Firm under Perfect Competition.” Sourced from previous year papers of diverse exams, including UPSC IAS, this resource is tailored for aspirants and enthusiasts seeking a comprehensive grasp of how firms operate within the framework of perfect competition.
Delve into a range of topics, from cost structures to market equilibrium, as each MCQ is strategically crafted to challenge and fortify your knowledge of the intricacies that define perfect competition. Whether you’re a UPSC IAS candidate or an economics enthusiast, this page serves as a valuable tool for exam preparation and conceptual understanding.
Key Features:
Authentic questions from UPSC IAS and diverse sector exams
In-depth coverage of the Theory of the Firm under Perfect Competition
Ideal for exam preparation and enhancing proficiency in economic principles
Embark on a journey of economic discovery as you engage with our meticulously curated MCQs, designed to illuminate the nuances of how firms navigate the landscape of perfect competition
NCERT Class 11 Economics : The Theory of the Firm under Perfect Competition MCQ – NCERT Class 11 MCQ
Question:
The concept of supply curve is relevant only for?
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Question:
Which of the following is an example of perfect competition?
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Question:
Can MR be negative or zero.
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If all units are sold at same price how will it affect AR and MR?
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What is price line
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Can TR be a horizontal Straight line?
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The revenue of a firm per unit sold is its
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The product of AR and price at every unit sold is the firm’s
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Question:
In perfect competition, in the long run, ______________?
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In perfect competition, when the marginal revenue and marginal cost are equal, profit is?
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In perfect competition, a firm earns profit when __________ exceeds the _____________?
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Question:
In the perfectly competitive market, in the long run, competitive prices equal the minimum possible ________ cost of good?
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In perfect competition, in the long run, if a new firm enters the industry the supply curve shifts to the right resulting in_________?
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Question:
Which of the following type of competition is just a theoretical economic concept, not a realistic case where actual competition and trade take place?
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Question:
In perfect competition, which of the following curves generally lies below the demand curve and slopes downward?
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Question:
A firm can sell as much as it wants at the market price. The situation is related to?
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Question:
Globalization has made Indian Market as?
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Question:
When AR = Rs. 10 and AC = Rs. 8, the firm makes?
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Question:
A competitive firm in the short run incurs losses. The firm continues production, if?
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Question:
In the long run the market price of a commodity is equal to its minimum average cost of production under the___________?
