AP (Advanced Placement) Macroeconomics: Questions 553 - 557 of 750

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Question 553

Question

MCQ▾

Which of the following represents second degree price discrimination?

Choices

Choice (5)Response

a.

Student discount

b.

Sale in antique markets

c.

Bulk discount

d.

Bundling

e.

Question does not provide sufficient data or is vague

Question 554

Question

MCQ▾

Which of the following models is based on the spill over effects of improving the knowledge base?

Choices

Choice (5)Response

a.

Lucas model

b.

Romer model

c.

Levhari Sheshinski model

d.

King-Robson model

e.

All of the above

Question 555

Question

MCQ▾

Which conditions are satisfied in the Stackelberg model?

Choices

Choice (5)Response

a.

Industry output is

b.

Quantity leadership

c.

Reaction function of firm 2 is

d.

All a., b. and c. are correct

e.

None of the above

Question 556

Question

MCQ▾

Which of the statements are true?

i. Optimal choice is determined at point of tangency

ii. In general, tangency is not a sufficient condition for optimality

iii. For convex preferences, tangency is a sufficient condition for optimal choice

Choices

Choice (5)Response

a.

Only i

b.

i and iii

c.

i, ii and iii

d.

Only ii

e.

All of the above

Question 557

Question

MCQ▾

What are sunk costs?

Choices

Choice (5)Response

a.

Fixed costs

b.

Variable costs

c.

Quasi-fixed costs

d.

All of the above

e.

Question does not provide sufficient data or is vague

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