1) Firms under perfect competition are known as

2) Under perfect competition products are…..

3) TR = P × …..

4) Long run supply curve is the rising portion of ….

5) Shut down point is the minimum of 

6) The point where TR = TC is called….

7) The implication of freedom of entry and exit of firms under perfect competition is that

8) Which type of market has full control over price

9) Quantity supplied rises from 20 kg to 25 kg as a result of rise in the price of it from rs 5 to rs 10. What is the elasticity of supply?

10) From the below diagram, select the point representing shutdown point

11) Percentage change in supply divided by percentage change in price is…..

12) In the given diagram,curve A under perfect competition represents 

13) q = P-10 is a supply function at P = 8, q is ….

14) The upward movement along the supply curve is called….of supply.

15) A firm is able to sell any quantity of the good at a given price. The firm’s marginal revenue will be 

16) Supply curves moves upward due to …..relationship between price and supply 

17) A market structure where there is no rivalry and no competition 

18) Select equilibrium condition under perfect competition 

19) A supply curve is given below, what is the elasticity of supply ?

20) The income earned by a producer by selling output in the market is 

21) Long run price under perfect competition will be equal to 

22) A fall in supply caused by a fall in price is known

23) Cost vary with output is known as

24) When supply curve is a vertical straight line, supply is

25) In the given below diagram, the area PRST indicates

26) Profit of a firm is the revenue earned :

27) MC curve cuts LAC curve:

28) Under perfect competition, firm is:

29) MR can be negative but AR is:

30) TR_n – TR_n-1 =

31) If P exceeds AVC but is smaller than AC at the best level of output, the firm in perfect competition is 

32) The demand for the product of a firm is perfectly elastic in one of the following markets. identify the market.

33) The short run shutdown point of a perfect competitive firm is at 

34) Supply curve shifts left when input price

35) From the given below diagram, identify the shut down point

36) If supply curve passes through origin, the elasticity of supply is ?

37) Which of the following is the determinant of supply?

38) Supply of a commodity varies

39) At point ‘E’ , firm gets

40) A small change in price leading to a proportionately larger change in supply is a situation of

41) The point on the supply curve at which a firm earns normal profit is called 

42) Shut down point occurs at

43) In the below given diagram, equilibrium of firm is represented by 

44) Which one of the following is not the equilibrium condition of perfect competitive market

45) If there is technological progress in the production unit, its supply curve will