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11th Economics Monthly Test - 1 ( Market Structure and Pricing )

MABS Institution

11th Economics Monthly Test - 1 ( Market Structure and Pricing )-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

First-degree price discrimination named it as ______

Perfect discriminating monopoly
Imperfect discriminating monopoly
Sub market
None of these

Cost analysis is the study of the behaviour of cost in relation to ...........

selling prices
profits
total revenue
one or more production criteria

When marginal revenue is positive total revenue __________ .

less
falls
rises
equal

Group of the firm is known as _________

Firm
Industry
Market
None of these

The cost that a firm incurs in hiring or purchasing any factor of production is referred to as .................. cost.

Explicit
Implicit
Variable
Fixed

The "U" shape of the "AC" reflects the ___________ .

Law of variable proportions
Law of returns to scale
Constant returns to scale
None

In which type of market, AR and MR are equal _______

Duopoly
Perfect competition
Monopolistic competition
Oligopoly

AVC curve is a ______________

concave curve
convex curve
U-shaped curve
L-shaped curve

Cost function are derived function. They are derived form ...................

demand function
supply function
cost analysis
production function.

Find total revenue where the price is (Rs.500 each) and company sold cell phones (100).

Rs.60,000
Rs.50,000
Rs.75,000
Rs.55,000

Part - B

Generic 2 - Answer All Question

What does cost analysis refer to ?

Write the sources of monopoly power.

Define Excess capacity.
What is 'Bilateral Monopoly'?

Classify the market on the basis of time. (Or) List out the market on the basis of time.

What is meant by Total Revenue?

Floating Cost - Define.

Write a note on 'Dumping'.

Define Opportunity cost?

State the relationship among TR, AR and MR curves.

Part - C

Generic 3 - Answer All Question

What are the types of price discrimination? Explain?

What is Monopoly? Can a monopolist sell more of his commodity at a higher price?

Explain Average Variable cost with the help of future.

Mention the similarities between perfect competition and monopolistic competition.

Explain briefly Marginal cost with a suitable diagram.

Distinguish between Sunk Cost and Floating Cost.

Discuss the Long run cost curves with suitable diagram.
Define Private cost and Social cost.

Describe the degrees of price discrimination.

Define Accounting cost.

Part - D

Generic 5 - Answer All Question

Explain the meaning of Fixed and Variable factors and costs.

Bring out the relationship between AR and MR curves under various price conditions.

Describe the Total Revenue concepts under various price conditions.

Bring out the features of perfect competition.

Describe the features of oligopoly.

Define Total Revenue and Explain its behaviour when. the price is constant and when the price is declining.

If total cost = 10+ Q³, find out AC, AVC, TFC, AFC when Q = 5.

If the total cost = 100 + Q³, find out AVC, AC, TFC,AFC and TVC when Q = 10.
Explain briefly total cost with a suitable diagram.

Explain the Total Revenue with the help of Diagram.

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