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Economics

Authored by Pooja Joshi

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University

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Economics
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10 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 2 pts

Media Image

The above image represents which type of market?

Monopoly

Monopolistic Competition

Perfect Competition

Oligopoly

2.

MULTIPLE CHOICE QUESTION

20 sec • 2 pts

What prevents a seller in Perfect Competition to influence the price?

Similarity of products

Large number of sellers

Effective advertising by other sellers

Interdependence of firms

3.

MULTIPLE CHOICE QUESTION

20 sec • 2 pts

Cartel formation is most likely to happen under which market?

Perfect Competition

Monopoly

Oligopoly

Monopolistic Competition

4.

MULTIPLE CHOICE QUESTION

20 sec • 2 pts

Which of the following is not true of a market?

It brings buyers and sellers in contact

It is confined to a place

Its structure is determined by nature of commodity

It is shaped by technology

5.

MULTIPLE CHOICE QUESTION

20 sec • 2 pts

Which of the following is a feature of oligopoly?

Products are always identical

Products do not have any substitute

Products may be differentiated

None of the above

6.

MULTIPLE CHOICE QUESTION

20 sec • 2 pts

In perfect competition, the seller is a price maker.

True

False

7.

MULTIPLE CHOICE QUESTION

20 sec • 2 pts

Monopolistic Competition has large number of sellers

True

False

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