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Perfect Competition Multiple Choice Questions Test 1

Practice MBA test 1 on perfect competition multiple choice questions online for learning. Free perfect competition study guide has answer key with choices as zero transaction costs, perfect factor mobility, profit maximization and property rights of multiple choice questions (MCQ) as companies are supposed to sell where marginal costs meet marginal revenue, where largely profit is generated is to test learning skills. Study to learn demand curve quiz questions to practice MCQ based online exam preparation test.

MCQ on Perfect Competition Quiz pdf Download Test 1

MCQ. Companies are supposed to sell where marginal costs meet marginal revenue, where largely profit is generated is

  1. perfect factor mobility
  2. zero transaction costs
  3. profit maximization
  4. property rights

C

MCQ. If an authoritarian agency follows a rule of normal cost pricing, then an ordinary monopolist will

  1. be forced to shut down.
  2. produce more than it would if it were unregulated.
  3. earn economic profit greater than zero.
  4. earn more profit that it would if it were unregulated.

B

MCQ. In short run, balance will be affected by

  1. price
  2. demand
  3. supply
  4. cost

B

MCQ. In small run, perfectly-competitive places are not

  1. productively efficient
  2. inefficient
  3. imperfect market
  4. productively inefficient

A

MCQ. Costs or advantages of an action do not influence third parties are

  1. perfect information
  2. imperfect market
  3. no externalities
  4. property rights

C


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