AP (Advanced Placement) Microeconomics: Questions 397 - 398 of 398

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Question 397

Appeared in Year: 2016 (NET)

Question

MCQ▾

An increase in output in a perfectly competitive and constant cost industry which is in the long run equilibrium, will come

Choices

Choice (5)Response

a.

entirely from new firms

b.

partly from new firms and from existing firms

c.

either entirely from new firms or entirely from existing firms

d.

entirely from existing firms

e.

All of the above

Question 398

Appeared in Year: 2016 (NET)

Question

MCQ▾

In the context of oligopoly, the kinked demand hypothesis is designed to explain

Choices

Choice (5)Response

a.

Price leadership

b.

Price Rigidity

c.

Price and output determination

d.

Collusion among rivals

e.

None of the above

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