Please refer to Chapter 6 Non-Competitive Markets MCQ Class 12 Economics with answers below. These multiple-choice questions have been prepared based on the latest NCERT book for Class 12 Economics. Students should refer to MCQ Questions for Class 12 Economics with Answers to score more marks in Grade 12 Economics exams. Students should read the chapter Non-Competitive Markets and then attempt the following objective questions.

MCQ Questions Class 12 Economics Chapter 6 Non-Competitive Markets

Non-Competitive Markets MCQ Class 12 Economics provided below covers all important topics given in this chapter. These MCQs will help you to properly prepare for exams.

Question. A monopolist is a price
(a) Acceptor
(b) Taker
(c) Giver
(d) Maker

Question. Which of the following is not a characteristic feature of imperfect competition?
(a) Prices vary from seller to seller
(b) All the products are homogeneous
(c) Profits of the seller is included in the price
(d) None of above

Question. Under which of the following forms of market structure a firm has no control over the price of its product?
(a) Monopoly
(b) Perfect competition
(c) Oligopoly
(d) Monopolistic competition

Question. Price discrimination can take place only in
(a) Perfect competition
(b) Oligopoly
(c) Monopolistic competition
(d) Monopoly

Question. Under monopoly form of market, TR is maximum when
(a) MR is maximum
(b) MR < 0
(c) MR > 0
(d) MR is zero

Question. Which of the following is not the feature of an imperfect competition?       
(a) Large number of buyers
(b) Single seller
(c) Homogeneous products
(d) Price maker

Question. In which form of the market structure is the degree of control over the price of its product by a firm very large?   
(a) Monopoly
(b) Imperfect Competition
(c) Oligopoly
(d) Perfect competition

Question. The form of the market having only 2 sellers is called:     
(a) monopoly
(b) duopoly
(c) oligopoly
(d) monopolistic competition

Question. Oligopolistic industries are characterized by …………………   
(a) a few dominant firms and substantial barriers to entry
(b) a few large firms and no entry barriers
(c) a large number of small firms and no entry barriers
(d) one dominant firm and low entry barriers

Question. Under monopoly form of market, TR is maximum when           
(a) MR is maximum
(b) MR
(c) MR > 0
(d) MR is zero

Question. Price discrimination is one of the features of……………..   
(a) monopolistic competition
(b) monopoly
(c) perfect competition
(d) oligopoly

Question. When a negative sloping straight-line demand curve, the total revenue curve is.
(a) A rectangle hyperbola
(b) Convex to the original
(c) An inverted vertical parabola
(d) Concave to the origin

Question. All of the following are characteristics of a monopoly except:———————–.        
(a) There is a single firm.
(b) The firm is a price-taker.
(c) The firm produces a unique product.
(d) The existence of some advertising.

Question. Market which has two firms is known as     
(a) Duopoly
(b) Monopolistic Competition
(c) Oligopoly
(d) None of These

Question. The firm and the industry are one and the same in:   
(a) Monopolistic competition
(b) Monopoly
(c) Duopoly
(d) Oligopoly

Question. Price discrimination will be profitable only if the elasticity of demand in different sub markets is:         
(a) Uniform
(b) Different
(c) Less
(d) Zero

Question. Market which has a few large firms is……………..   
(a) Monopsony
(b) Duoploy
(c) Oligopoly
(d) Monopoly

Question. Which of the below-mentioned option is not mentioned in imperfect competition?           
(a) A large number of buyers
(b) Single sellers
(c) Similar/Homogenous product
(d) Price maker

Question. Price discrimination is one of the features of         
(a) monopolistic competition
(b) monopoly
(c) perfect competition
(d) oligopoly

Question. Which market have characteristic of product differentiation     
(a) Monopolistic competition
(b) Oligopoly
(c) Monopoly
(d) Perfect competition

Question. The concept of the supply curve is relevant only for?     
(a) Oligopoly
(b) Monopoly
(c) Monopolistic Competition
(d) Perfect Competition

Question. Which one of the following statement is not a characteristic of monopolistic competition?   
(a) ease of entry into the industry.
(b) product differentiation
(c) a relatively large number of sellers
(d) homogeneous product.

Question. Under which of the following forms of market structure a firm has no control over the price of its product?           
(a) Monopoly
(b) Perfect competition
(c) Oligopoly
(d) Monopolistic competition

Question. Oligopolistic industries are characterized by—         
(a) A few dominant firms and substantial barriers to entry.
(b) A few large firms and no entry barriers.
(c) A large number of small firms and no entry barriers.
(d) One dominant firm and low entry barriers.

Question. The demand curve of a monopoly firm will be———————–.       
(a) upward sloping
(b) downward sloping
(c) horizontal
(d) vertical

Question. In monopolistic competition the goods are.     
(a) Durable
(b) Differentiated
(c) Heterogeneous
(d) Homogeneous

Question. In perfect competition, a company earns an abnormal profit when average revenue exceeds the?       
(a) Total revenue
(b) Average cost
(c) Total fixed cost
(d) Marginal revenue

Question. Price discrimination can take place only in         
(a) Perfect competition
(b) Oligopoly
(c) Monopolistic competition
(d) Monopoly

Question. The demand curve of Oligopoly is?         
(a) Kinked
(b) Vertical
(c) Horizontal
(d) Rising left to Right

Question. The firm and the industry are one and the same in…………………   
(a) Perfect competition
(b) Monopolistic competition
(c) Duopoly
(d) Monopoly

Question. In monopolistic competition the goods are.         
(a) Durable
(b) Differentiated
(c) Heterogeneous
(d) Homogeneous

Question. A Market structure which produces heterogeneous products is called   
(a) Monopoly
(b) Monopolistic competition
(c) Perfect competition
(d) None of the above

We hope you liked the above Non-Competitive Markets MCQ Class 12 Economics. In case you have any questions please put them in the comments box below and our teachers will provide you a response.