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CLASS-XI

Microeconomics

Chapter-10-Main market Forms

Question (Very short answer type questions-1 mark) Marks
No
1. Demand curve of perfectly competitive market form is 1
a----------------------.

2. Marginal revenue of a firm is constant through under 1
---------- competition.
(Perfect competition/Monopolistic competition) choose
the correct answer.

3. State whether the following statement is true or false. 1
‘The demand curve for a firm under oligopoly is
indeterminate.”

4. Define Monopoly 1

5. On what basis, Monopoly, Monopolistic, and oligopoly 1
are similar to each other:
a) Number of sellers
b) Price determination
c) Selling cost
d) Level of knowledge

6. Define product differentiation. 1

7 Firms cooperate with each other in determining the 1
price or output. It is a feature of
a) Pure Oligopoly
b) Non-Collusive Oligopoly
c) Collusive Oligopoly
d) Imperfect Oligopoly
8 State any two features of Monopolistic competition. 1

9. Under Monopoly selling costs are incurred for: 1
a. Persuade buyers not buy from competitors