Main Market Forms

Toothpaste is a product of which type of market form:

• Monopolistic Competition
• Monopoly
• Perfect competition
• None of these

A firm is a price taker under:

• Perfect competition
• Monopoly
• monopolistic competition
• None of these

Which form of market is also known as price-maker firm?

• Monopoly
• Monopolistic competition
• Perfect competition
• None of these

No close substitutes is a distinguishing feature of which form of market?

• Monopolistic Competition
• Monopoly
• Perfect competition
• None of these

What is the nature of demand curve in case of monopolistic competition?

• Perfectly elastic
• Downward sloping and less elastic
• Downward sloping and more elastic
• None of these

How much selling cost are incurred in case of perfect competition?

• Very high
• very less
• negligible
• zero

Demand curve in case of monopolistic competition is more elastic as compared to demand curve under monopoly due to :

• Huge selling cost
• Freedom of entry and exit
• presence of close substitutes
• Large number of firms

Which of these is a characteristics feature of monopoly?

• Single seller
• price maker
• Barriers on entry and exit of firms
• All of these

Demand curve of perfectly competitive market form is a horizontal straight line parallel to X-axis . It happens because

• Selling cost are zero
• There is freedom of entry and exit
• Firm is a price- taker
• None of these

Demand curve of a firm under monopoly is:

• Downward sloping
• Indeterminate
• Upward sloping
• Perfectly elastic