Class XII

Pure oligopoly is based on the _____________ products.
  1. Homogeneous
  2. Differentiated
  3. None of above
  4. Unique product
In the long run a monopolist can:
  1. Earn super normal profits
  2. Earn only normal profits
  3. Shut-down
  4. Incur losses
The shape of the total revenue curve depends on the shape of the average revenue curve.
  1. False
  2. True
  3. Can’t say
  4. None of these
Prices remain sticky in which of the following market?
  1. Perfect Competition
  2. Monopoly
  3. Duopoly
  4. Oligopoly
The market structure in which the number of sellers is small and there is interdependence in decision making by the firms is known as
  1. Perfect competition
  2. Monopoly
  3. Monopolistic competition
  4. Oligopoly
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