AP (Advanced Placement) Microeconomics: Questions 49 - 52 of 398

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Question 49

Appeared in Year: 2017 (NET)

Question

MCQ▾

The demand for rare paintings and rare stamps etc. is explained by which among the following effect?

Choices

Choice (5)Response

a.

Snob effect

b.

Veblen effect

c.

Bandwagon effect

d.

All of the above

e.

None of the above

Question 50

Appeared in Year: 2017 (NET)

Question

MCQ▾

In the context of International Trade dumping refers to

Choices

Choice (5)Response

a.

Selling a commodity cheaper in foreign market and costly in domestic market

b.

Sending cheap goods to developing countries by developed countries

c.

Free distribution of used products by developed countries in developing countries

d.

None of the above

e.

All of the above

Question 51

Appeared in Year: 2013 (NET)

Question

MCQ▾

The locus of Pareto Optimality in Production and Consumption is given by (December)

Choices

Choice (5)Response

a.

The Social Welfare Function

b.

The Transformation Curve

c.

The Grand Utility Possibility Curve

d.

The Utility Possibility Curve

e.

All of the above

Question 52

Appeared in Year: 2017 (NET)

Question

MCQ▾

Given the following total cost and demand functions of a firm, find the price at which profits would be maximized:

Where C = Total Cost

Q = Output

P = Price

Choices

Choice (5)Response

a.

85

b.

100

c.

5

d.

95

e.

None of the above

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