Economics True/False

Giving reasons, state whether the following statements are true or false.
Under monopoly a firm sells the goods at a single price.

Giving reasons, state whether the following statements are true or false.
Under monopolistic competition price discrimination can be made easily.

Giving reasons, state whether the following statements are true or false.
Under monopoly all firms can sell at any price.

Giving reasons, state whether the following statements are true or false.
In monopoly, firm is different from industry.

Giving reasons, state whether the following statements are true or false.
Under monopolistic competition, a firm faces a perfectly elastic demand curve.

Non-collusive oligopoly is that form of oligopoly in which all the firms determine price and quantity of output on the basis of cooperative behavior. (True/ False)

Giving reasons, state whether the following statements are true or false.
Under monopoly new firms can enter the industry to raise the supply.

Giving reasons, state whether the following statements are true or false.
Under monopolistic competition, all the customers have perfect knowledge of the market conditions.

When MR falls, AR falls. (True/ False)

A monopolist can sell any quantity he likes at a price. Give reasons with true or false.

AR curve always remain above MR curve. (True/ False)

When average revenue falls marginal revenue falls faster than average revenue. (True/ False)

Giving reasons, state whether the following statements are true or false.
Under oligopoly, there are large number of buyers and sellers.

Giving reasons, state whether the following statements are true or false.
Under monopolistic competition there is only one seller of the product.

Oligopoly is a form of the market in which there are large sellers of a commodity and a large number of buyers. (True/ False)