Question

1.The monopolist ------- price
a.Enjoys
b.Allows
c.Takes
d.Fixes

2.Change in input price, government policy, organizational change may lead to -----.
a.higher cost of demand for a firm
b.lower cost of production for a firm
c.higher cost of production for a firm
d.higher cost of sales for a firm

3.The point at which demand equate supply is known as -------
a.interaction point
b.intersection mpoint
c.equation point
d.equilibrium point

4.The following are factor inputs except -------
a.land
b.labour
c.capital
d.entreprenual

5.The following equation; Q = r - kP, depicts -------
a.supply function
b.demand function
c.demand curve
d.supply schedule

Answer 1

1. d

2. c

3. d

4. d

5. b