Question
Which of the following statements is correct for the
monopolist?Solution
Due to significant barriers to entry, a monopolist is not threatened by new competitors. Therefore, it can sustain supernormal profits in the long run, unlike firms in perfect competition which earn only normal profits in the long run. It does not “always” earn profit (it could make losses if costs are too high), it does not necessarily charge the “highest possible price” (it charges the profit-maximizing price), and it is generally less production efficient than a perfectly competitive firm due to a lack of competition.
The undesirable enzymatic browning observed in cut apples is mainly caused by which of the following enzymes?
"Micro-irrigation" is a part of which Indian government scheme?
Which of the following is the most suitable crop for reclaiming sodic soils, owing to its ability to tolerate high pH and poor soil structure?
Cricket ball and Kalipatti are famous varieties of _____
King of Pippin is the variety of ......
Most commonly used Oxygen absorbers used in Modified Atmospheric Storage structure is:
Elephant’s Foot Yam (Amorphophallus paeoniifolius) is recognized as a significant source of which vitamins?
Which of the following is the most common commercial method of propagating Mango in India?
Which chemical is most commonly used to delay fruit ripening and extend shelf life by acting as an ethylene action inhibitor during postharvest storage?
Under Bangalore climatic conditions, what is the most recommended schedule for rose pruning?
