AP (Advanced Placement) Microeconomics: Questions 1 - 4 of 398

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Question 1

Appeared in Year: 2014 (NET)

Question

Assertion-Reason▾

Assertion(Ꭺ)

The concept of supply curve is meaningless for the monopolist. (June)

Reason(Ꭱ)

Monopolists are price setters; it does not make any use to ask what output they would produce at various prices.

Choices

Choice (5)Response

a.

Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ

b.

Both Ꭺ and Ꭱ are true but Ꭱ is NOT the correct explanation of Ꭺ

c.

Ꭺ is true but Ꭱ is false

d.

Ꭺ is false but Ꭱ is true

e.

Both Ꭺ and Ꭱ are false

Question 2

Appeared in Year: 2017 (NET)

Question

MCQ▾

With reference to the characteristics of non excludability and non rivalry, Law and Order is an example of:

Choices

Choice (5)Response

a.

Negative externality

b.

A public good

c.

Increasing returns a public good

d.

A positive externality

e.

None of the above

Question 3

Appeared in Year: 2014 (NET)

Question

MCQ▾

The practice of charging each consumer the reservation price is called (June)

Choices

Choice (5)Response

a.

Third degree price discrimination

b.

Peak load pricing

c.

Inter-temporal price discrimination

d.

First degree price discrimination

e.

All of the above

Question 4

Appeared in Year: 2017 (NET)

Question

MCQ▾

A forward shifted tax will affect

Choices

Choice (5)Response

a.

Buyers more than sellers

b.

Sellers more than buyers

c.

Government revenues negatively

d.

Buyers and sellers equally

e.

All of the above

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