AP (Advanced Placement) Microeconomics: Questions 80 - 83 of 398

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Question 80

Appeared in Year: 2015 (NET)

Question

MCQ▾

Segmented labour markets imply: Which of the below is incorrect? (December)

Choices

Choice (5)Response

a.

MP theory of wage fails to determine market outcomes

b.

Labour paid wage less than MRP

c.

Labour Discrimination

d.

Equality of wages of different types of labour

e.

Question does not provide sufficient data or is vague

Question 81

Appeared in Year: 2015 (NET)

Question

MCQ▾

Concept of scale economies applies in (December)

Choices

Choice (5)Response

a.

Short run with variable technical coefficient

b.

Long run with constant technical coefficients

c.

Short run with constant technology

d.

Long run with variable technology

e.

Question does not provide sufficient data or is vague

Question 82

Appeared in Year: 2015 (NET)

Question

MCQ▾

What does ‘Price Scissors’ refer to: (December)

Choices

Choice (5)Response

a.

Marshall՚s example of forces of demand and supply

b.

A sharp fall in price of a major export item accompanied by a sharp rise in price of a major import

c.

Exports of two strategic raw materials from country

d.

Export basket of competitive local manufactures

e.

None of the above

Question 83

Appeared in Year: 2015 (NET)

Question

MCQ▾

A discriminating monopolist will charge a lower price in the market in which the price elasticity of: (June)

Choices

Choice (5)Response

a.

Supply is smaller

b.

Demand is greater

c.

Supply is greater

d.

Demand is smaller

e.

Question does not provide sufficient data or is vague

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