Ppsc lecturer past papers of economics

PPSC FPSC Lecturer Economics Online Test 25 Solved MCQs

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There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
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Test Instructions:-
Test Name	Lecturer Economics
Subject	Economics Test 25
Test Type	MCQs
Total Questions	25
Total Time	20 Minutes
Total Marks	100

You have 20 minutes to pass to the quiz.

PPSC LECTURER OF ECONOMICS ONLINE PRACTICE TEST NO. 25

1 / 25

Which market structure is more realistic?

pure competition

Both a and b

None of the above

monopolistic competition

2 / 25

The individual demand curve of firm is also known as ......................in monopolistic competition:

share of the market curve

Planned sales curve

Both a and b

actual sales curve

3 / 25

The second heroic assumption of Chamberlin model of monopolistic competition is:

Consumers preferences do not matter

Consumer preferences are randomly distributed among the different products

There is no second heroic assumption

Consumer preferences are evenly distributed among the different products

4 / 25

in monopolistic competition there are ..................... seller and .............................buyers:

Single, large number of

Large number of, large number of

Single, large number of

Single, Single

5 / 25

The necessary condition for price discrimination are:

Both a and b

Complete separation of sub-markets

Market must be divided into sub-markets.

6 / 25

Single seller in the market is called:

monopolist

Monopsonist

Both and b

None of the above

7 / 25

Price discrimination exist when same product is sold at ..................... prices to different buyers:

higher

lower

same

different

8 / 25

Chamberlin has introduced ............................. for the first in his model of monopolistic competition:

All of the above

Marginal cost

Selling cost

Average total cost

9 / 25

In monopolistic competition product is:

close substitute

totally different

None of the above

homogenous

10 / 25

Single buyer in the market is called:

Monopsonist

None of the above

Monopolist

Both a and b

11 / 25

There economies and dis-economies of advertising as output changes. That is why selling cost curve is:

Vertical

U shaped

Horizontal

negative sloped

12 / 25

Why Chamberlin has adopted traditional U shaped cost curve in his theory of monopolistic competition?

Both aand b

None of the above

U shaped curves imply that there is two level of out which can be produced optimally

U shaped curves imply that there is only single level of out which can be produced optimally

13 / 25

There is ..................... entry and exit in monopolistic competition:

None of the above

free

Both a and b

barriers to

14 / 25

Chamberlin has introduced two policy variables in theory of firm first is ..................... and second is ..............

type/nature of product, selling activities

None of the above

homogeneity of product, selling activities

selling activities, marginal cost

15 / 25

Chamberlin has introduced .................. models of equilibrium in monopolistic competition:

three

one

two

four

16 / 25

In bilateral monopoly price and out is determined by:

market forces

monopsonist only

bargaining power, and other skills of participants

monopolist only

17 / 25

Why monopolist adopts price discriminate model?

to maximize marginal revnue

to maximize profit

All of the above

to maximize cost

18 / 25

In price discrimination model, Sub markets have demand curve with ......................elasticity:

Both a and b

same

different

None of the above

19 / 25

Bilateral monopoly is a market structure were is...................and ................buyer:

many, many

single, single

single, many

many, single

20 / 25

The first model of Chamberlin monopolistic competition is:

Equilibrium with price competition and free entry

Equilibrium with price competition

All of the above

Equilibrium with new firms entering the industry

21 / 25

The first heroic assumption of Chamberlin model of monopolistic competition is:

Both a and b

None of the above

identical costs

identical products

22 / 25

The second model of Chamberlin monopolistic competition is:

Equilibrium with new firms entering the industry

All of the above

Equilibrium with price competition and free entry

Equilibrium with price competition

23 / 25

Chamberlin has introduced a second demand curve named as:

actual sales curve

Individual demand curve

All of the above

planned sales surve

24 / 25

The actual sales curve or second demand curve is derived by the locus of points of shifting ............... as competitors change their prices:

individual demand curve

None of the above

Marginal cost

Both a and b

25 / 25

Let suppose there are two sub markets, Profit of price discriminator will be maximized when:

MC = MR1 = MR 2

MC = MR1

MC = MR2

None of the above

Your score is

The average score is 0%

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