AP (Advanced Placement) Microeconomics: Questions 88 - 90 of 398

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Question 88

Appeared in Year: 2015 (NET)

Question

MCQ▾

In imperfect factor and product markets, labour exploitation is represented by:

  1. When ARP is > Average wage.
  2. When ARP is > Marginal wage
  3. When ARP is < MRP
  4. When ARP is < Marginal wage

Select the correct answer from the codes given below: (December)

Choices

Choice (5)Response

a.

(4) , (3)

b.

(1) , (4)

c.

(1) , (3)

d.

(1) , (2)

e.

All of the above

Question 89

Appeared in Year: 2015 (NET)

Question

MCQ▾

Between the two situations for a firm profit maximization and sales revenue maximization, the equilibrium for a profit maximizer as compared to sales revenue maximizer, takes place at: (December)

Choices

Choice (5)Response

a.

Lower output and higher price

b.

Larger output and lower price

c.

Larger output and larger price

d.

Lower output and lower price

e.

Question does not provide sufficient data or is vague

Question 90

Appeared in Year: 2016 (NET)

Question

MCQ▾

One of the essential conditions of monopolistic competition is (Paper III)

Choices

Choice (5)Response

a.

Many buyers but one seller

b.

Product differentiation

c.

Homogeneous product

d.

Price discrimination

e.

Question does not provide sufficient data or is vague

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