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Which of the following feature is common to both, perfectly competitive markets and monopolistically competitive markets?
In making decisions about important questions, it is desirable to be able to distinguish between strong and weak arguments. Strong arguments are those, which are both important and directly related to the question. Weak arguments are those, which are of minor importance and also may not be directly related to the question or may be related to a trivial aspect of the question. The questions below are followed by two arguments each numbered I and II. You have to decide which of the two arguments is the strong argument and which is the weak argument. Statement: In a competitive market, if one firm reduces its prices then should other firms also reduce their prices? Arguments: Yes. If the other firms do not reduce their prices, they would lose customers. No. The other firms will start facing losses by reducing their prices.
If firms are entering an industry that is monopolistically competitive, we would expect
Price-taking firms i.e., firms that operate in a perfectly competitive market, are said to be 'small' relative to the market. Which of the following best describes this smallness?
Two processes X and Y need to access a critical section. Consider the following synchronization construct used by both the processes Process ? /* other code for process ? */ while(true) { varP = true; while(varQ == true) { /* Critical Section */ varP = false; } } /* other code for process ?? */   Process ? /* other code for process ? */ while(true) { varQ = true; while(varP == true) { /* Critical Section */ varQ = false; } } /* other code for process ? */   Here, varP and varQ are shared variables and both are initialized to false. Which one of the following statements is true?
From an alloy, two specimens are machined and tested separately under tension and compression. The engineering stress-strain curves as well as the true stress-true strain curves for tension and compression are plotted in the same diagram. Identify the correct statements:
P. The engineering stress-strain curves in tension and compression are identical.
Q. The true stress-true strain curve in compression is lower than the true stresstrue strain curve in tension due to Bauschinger effect.
R. The true stress-true strain curve in tension is above the corresponding engineering stress-strain, curve.
S. The true stress-true strain curve in tension and compression are identical.
Which two of the following statements are true? a) A simple monopoly firm always earns super normal profit  b) Sweezy's kinked demand curve model is the best known model explaining relatively more satisfactory behaviour of oligopoly firm for price rigidity  c) A perfectly competitive firm is price - taker  d) Firms under monopolistic competition earn only normal profits  Choose the correct option from those below 
Which two of the following statements are true?
I. A simple monopoly firm always earns super normal profit
II. Sweezy's kinked demand curve model is the best known model explaining relatively more satisfactory behaviour of oligopoly firm for price rigidity
III. A perfectly competitive firm is price-taker
IV. Firms under monopolistic competition earn only normal profits
Choose the correct option from those below
In this question, there are two statements and two conclusions i and ii. Assuming the statement is the whole truth, then decide both conclusions together, and decide which conclusions are undoubtedly logical based on the information given in the statement.   Statement: All male are sons. All the boys are male. Conclusion: i. All the boys are sons. ii. There are some male sons. Choose the correct option from the next A) only the conclusion is true. B) Only conclusions ii is true. C) Conclusion i or ii is true. D) Both i or ii ar e not true. E) i and ii are both true
Which of the following industries is most likely to be monopolistically competitive?