MODERN SCHOOL

JAIPUR
CLASS: XI SUBJECT: ECONOMICS
CHAPTER: Market equilibrium DAY & DATE: TUESDAY (01/02/2022)

_______________________________________________________________________________________________________________

Q.1. Total revenue can be found out by –

Q.2. When marginal revenue is zero, total revenue will be –

(a) lowest (b) highest
(c) negative (d) zero
Q.3. If MR < 0, then the TR will be –
(a) rising (b) highest
(c) falling (d) zero
Q.4. The revenue per unit of called as – one commodity sold is
(a) Total Revenue (b) Marginal Revenue
(c) Average Revenue (d) None of the above
Q.5. AR can be found out by the formula –

Q.6. Which concept of revenue is called price?

(a) TR (b) AR
(c) MR (d) None of these
Q.7.

(i) Total Revenue (ii) Marginal Revenue

(iii) Average Revenue (iv) Price

(a) i & iii (b) ii & iv

(c) ii & iii (d) iii & iv
Q.8. The equilibrium price remains constant only if demand and supply
(a) increase unequally (b) decrease unequally
(c) increase equally (d) none of the above
Q.9. In the short period equilibrium price is –
(i) higher than long run price (ii) higher than market price
(iii) lower than market price (iv) lower than long run price

(a) i & ii (b) ii & iii

(c) iii & iv (d) i & iii
Q.10. Uniform price for homogeneous product at any one time is the essential condition of –
(a) monopolistic competition (b) oligopoly
(c) perfect competition (d) duopoly
Q.11. What is market equilibrium explain it using schedule and diagram.
Q.12. Differentiate between price ceiling and floor with an example and diagram.
Q.13. Explain the following with their chain effect:-
A. Excess demand
B. Excess supply
C. Deficient demand
D. Deficient supply