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11th Economics Monthly Test - 2 ( Distribution Analysis )

MABS Institution

11th Economics Monthly Test - 2 ( Distribution Analysis )-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

MR is defined as ..................

the change in price divided by the change in output
the change in P x Q due to unit change in price
the change in P x Q due to unit change in output
price, but only if the firm is price searcher

____________ lead to high cost to consumer under monopolistic competition.

Price
Product
Advertisement
Market-profit

Most important form of selling cost is_____________.

Homogeneous product
Advertisement
Sales
Tax

A firm can achieve equilibrium when its _______

MC = MR
MC = AC
MR = AR
MR = AC

The Residual Claimant theory was introduced in the year __________.

1975
1886
1875
1890

The firm and industry are one and the same under_______________.

perfect competition
duopoly
oligopoly
monopoly

A place where buyers and sellers meet and bargain over a commodity for a price is called ..............

Den
shop
market
exchange

"The General Theory of Employment, Interest and Money" The famous book was introduced by __________.

J.M. Keynes
Alfred Marshall
J.S. Mill
David Ricardo

The Agio theory of interest was propounded by John Rae. But credit goes to ___________.

Bohm Bawerk
Benham
Walker
Knut Wickseel

Marginal productivity theory of distribution was developed by

Clark
Wickseed
Walras
All of these

Part - B

Generic 2 - Answer All Question

What are the Equilibrium conditions for a firm?

What is Local Market?

What is a 'National Market"?

State the different types of Imperfect competition.
Why the transport cost is nil under Perfect Competition?

What is profit?

What is the meaning of monopoly?

Part - C

Generic 3 - Answer All Question

Explain how markets can be classified on the basis of area.

Distinguish between rent and quasi-rent.

What are the different sources of Monopoly power?

Briefly explain the defects of monopolistic competition.

Write a note on Risk-bearing Theory of Profit.
What are the different types of price discrimination under monopoly?

Describe Price Discrimination under monopoly.

Part - D

Generic 5 - Answer All Question

Differentiate between perfect competition and monopoly.

Illustrate price and output determination under Monopoly.

Explain the market on the basis of area.

Explain the equilibrium conditions for a firm with the help of diagrams.

Explain the types of monopoly?

Explain price and output determined under monopolistic competition with help of the diagram.

Comparison amoung the Features of Various Markets?

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