Monopoly is a market structure where there is:
A) Barriers to entry B) No seller C) Single seller D) …
If market supply curve is perfectly elastic the whole tax burden will be born by the:
A) Firm B) Market C) Consumer D) Owner
If market supply curve is more elastic to price, the consumer will bear —————– proportion of tax:
A) Higher B) Lower C) Normal D) All of …
In perfect competition, specific sales tax effect the ———— cost:
A) Marginal B) Increase C) Fixed D) Normal
In perfect competition, increase in profit tax ————— profit:
A) Normal B) Increase C) Reduce D) All of these
In perfect competition, effect of lump-sum tax is considered same as the effect of change in —————— cost:
A) Average variable cost B) Average cost C) Average fixed cost D) Marginal …
An industry is said to be decreasing-cost industry if its log-rub supply curve is:
A) Equal B) Positive C) Negative D) None of These
An industry is said to be increasing-cost industry if its log-rub supply curve is:
A) equal B) Positive C) Negative D) None of these
In perfect competition and in case long run firms earn ————– profit:
A) Normal B) Excess C) decreases D) constant
In perfect competition price is equal to:
A) Demand B) Marginal cost C) Marginal Revenue D) Total …