Business Economics - Business Economics Section 1

Avatto > > CS foundation > > PRACTICE QUESTIONS > > Business Economics > > Business Economics Section 1

1. The market period supply curve for perishable commodities is

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2. Consider the following
1. A large number of buyers and sellers

2. Firms produce differentiated products

3. Free entry and exit of firms

4. Perfect knowledge about technology.

Which of the above are the characteristics of monopolistic competition?

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3. The degree of monopoly power can be measured by the formula

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4. Under monopoly and imperfect competition, MC is

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5. The value of σ for Cobb-Douglas production function is

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