AP (Advanced Placement) Microeconomics: Questions 38 - 40 of 398

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Question 38

Appeared in Year: 2013 (NET)

Question

Assertion-Reason▾

Assertion(Ꭺ)

There is no incentive for a profit-maximizing producer to supply the public goods. (December)

Reason(Ꭱ)

If he produces it, he is unable to exclude people from consuming it and hence he cannot charge a price.

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 39

Appeared in Year: 2017 (NET)

Question

Matching-Pair▾

Find the pair which does not match:

Choices

Choice (5)Response

a.

Fishing in the large lake

Non excludable but rival

b.

Air

Non excludable and non rival

c.

Use of a light house

Rival

d.

Stock of washing machines

Excludable

e.

None of the above

Question 40

Appeared in Year: 2013 (NET)

Question

MCQ▾

A graphical illustration used to explain efficiency conditions and demonstrates how the allocations of some goods and resources can be, improved through exchange is called (December)

Choices

Choice (5)Response

a.

Edgeworth box diagram

b.

Production possibility curves

c.

Phillips curve

d.

Social indifference curves

e.

All of the above

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