Question
A Market structure which produces heterogeneous products is called:
- Monopoly.
- Monopolistic competition.
- Perfect competition.
- None of the above.
✓
Answer
- Monopolistic competition.
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.
Explore more
Similar questions
As per the value added method of measuring National Income, identify which of the following item will be excluded:
- Production for self-consumption.
- Imputed rent of owner occupied houses.
- Brokerage earned by selling second hand goods.
- Sale proceeds of second hand goods.
Giffen paradox is an exception of _______:
- Law of Demand.
- Law of Supply.
- Law of Production.
- Law of Utility.
Which function of foreign exchange market protects against the foreign exchange risk?
- Credit function.
- Hedging function.
- Transfer function.
- All of them.
There is an inverse relationship between multiplier and:
- MPS
- MPC
- APC
- None of these.
When MR is zero, TR is _________:
- Maximum.
- Minimum.
- Zero.
- Rising.
When there is no change in quantity demand in response to any change in price, it is a situation of:
- Zero price elasticity.
- Infinite price elasticity.
- Unitary price elasticity.
- None of these.
In the short run, when the output of a firm increases, its average fixed cost:
- Increases.
- Decreases.
- Remains constant.
- First declines and then rises.
If demand is parallel to X-axis, what will be the nature of elasticity?
- Perfectly elastic.
- Inelastic.
- Elastic.
- Highly elastic.
Which of the following is an intermediate good?
- Machine.
- Car.
- Mobile.
- Sugar cane in a sugar Mill.