CBSE Class 11 The Theory of the Firm under Perfect Competition Multiple Choice Questions with Answers. MCQ Questions Class 11 The Theory of the Firm under Perfect Competition with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 The Theory of the Firm under Perfect Competition with Answers to know their preparation level.
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MCQ Questions Class 11 The Theory of the Firm under Perfect Competition with Answers - Set - 4
Question 1:
Demand curve is perfectly elastic under:
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) All of the above
Correct Answer – (A)
Question 2:
When demand decreases and there is no shift in supply, the equilibrium price ………………. and quantity ………………. .
(a) Rises, rises
(b) Rises, falls
(c) Falls, falls
(d) Falls, rises
Correct Answer – (C)
Question 3:
Demand curve of a firm is perfectly elastic under:
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) Oligopoly
Correct Answer – (A)
Question 4:
‘Homogenous products’ is a characteristic of:
(a) Perfect competition only
(b) Perfect oligopoly only
(c) Both (a) and (b)
(d) None of the above
Correct Answer – (C)
Question 5:
Demand curve is inelastic under:
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) All of the above
Correct Answer – (B)
MCQ Questions Class 11 The Theory of the Firm under Perfect Competition With Answers
Question 6:
Entry is restricted under:
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) All of the above
Correct Answer – (B)
Question 7:
When increase in demand is more than increase in supply, then equilibrium price will:
(a) Remain the same
(b) Rise
(c) Fall
(d) None of the above
Correct Answer – (B)
Question 8:
Selling cost is insignificant under:
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) All of the above
Correct Answer – (B)
Question 9:
Differentiated but close substitutes exist under:
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) All of the above
Correct Answer – (C)
Question 10:
There is inverse relation between price and demand for the product of a firm under:
(a) Monopoly only
(b) Monopolistic competition only
(c) Both under monopoly and monopolistic competition
(d) Perfect competition only
