CBSE Class 11 Market Equilibrium Multiple Choice Questions with Answers. MCQ Questions Class 11 Market Equilibrium with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Market Equilibrium with Answers to know their preparation level.
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MCQ Questions Class 11 Market Equilibrium with Answers - Set - 5
Question 1:
Which among the following statement is not true:
(a) Demand of labor is done by the producer
(b) Demand of labor depends open its productivity
(c) Marginal productivity of a labor is his maximum wages
(d) All of the above.
Correct Answer – (D)
Question 2:
Which of the following is the component of instrument pricing:
(a) Rent
(b) Wages
(c) Interest
(d) None of these.
Correct Answer – (C)
Question 3:
Administrative price is:
(a) Price ceiling
(b) Price floor
(c) Both (a) and (b)
(d) None of these.
Correct Answer – (C)
Question 4:
Market price is found in:
(a) Short period market
(b) Long period market
(c) Very long period market
(d) None of these.
Correct Answer – (A)
Question 5:
According to which economist “Price of a commodity is determined by the forces of demand and supply”:
(a) Jevons
(b) Valros
(c) Marshall
(d) None of these.
Correct Answer – (C)
MCQ Questions Class 11 Market Equilibrium With Answers
Question 6:
Which factors help in the determination of equilibrium price:
(a) Demand
(b) Supply
(c) Both (a) and (b)
(d) None of the above.
Correct Answer – (D)
Question 7:
Minimum support price of wheat is called:
(a) Price ceiling
(b) Price floor
(c) Market price
(d) Equilibrium price.
Correct Answer – (B)
Question 8:
Demand curve of a firm is perfectly elastic in:
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) Oligopoly.
Correct Answer – (A)
Question 9:
Not a condition of equilibrium of monopoly firm:
(a) Average revenue = Marginal revenue
(b) Marginal revenue = Marginal cost
(c) Marginal cost curve cuts marginal revenue curve from downwards.
(d) Both (b) and (c).
Correct Answer – (A)
Question 10:
There is inverse relation between demand and price of goods in:
(a) Only monopoly
(b) Only monopolistic competition
(c) Both (a) and (b)
(d) Only perfect competition.
