AP (Advanced Placement) Microeconomics: Questions 194 - 198 of 398

Access detailed explanations (illustrated with images and videos) to 398 questions. Access all new questions- tracking exam pattern and syllabus. View the complete topic-wise distribution of questions. Unlimited Access, Unlimited Time, on Unlimited Devices!

View Sample Explanation or View Features.

Rs. 250.00 -OR-

How to register? Already Subscribed?

Question 194

Question

MCQ▾

The concept of excess capacity in monopolistic market structure was given by whom?

(i) Chamberlin

(ii) Paul Sweezy

(iii) John Cassel

(iv) Harvey Lebinstien

Choices

Choice (5)Response

a.

Only (i) & (ii)

b.

Only (i)

c.

Only (i) & (iv)

d.

Only (i) & (iii)

e.

None of the above

Question 195

Question

MCQ▾

What is the shape of demand curve under monopoly.

Choices

Choice (5)Response

a.

Vertical

b.

Horizontal

c.

Upward

d.

Downward

e.

Question does not provide sufficient data or is vague

Question 196

Question

MCQ▾

Which is the supply curve of the firm under perfect competition?

Choices

Choice (5)Response

a.

MC curve above AFC.

b.

MC curve above ATC.

c.

MC curve from the lowest point.

d.

MC curve above AVC.

e.

Question does not provide sufficient data or is vague

Question 197

Question

MCQ▾

Which of the following is not a feature of Perfect competition?

Choices

Choice (5)Response

a.

Perfect knowledge

b.

Heterogeneous Products

c.

Freedom to entry and exit

d.

Large no of Buyers and Sellers

e.

None of the above

Question 198

Question

MCQ▾

Which of the following features belong to Cournot՚s՚ model of duopoly?

(1) It yields determinate and stable equilibrium for the duopolists

(2) It is an adequate representation of Nash equilibrium

(3) If the duopolists combine to form a monopoly, the price changed by them will be less than the equilibrium price without their combining together.

Of the above which statements are true? Choose from the code below:

Choices

Choice (5)Response

a.

(1) and (2) are correct

b.

(2) and (3) are correct

c.

1 and 3 are Correct

d.

None of the above

e.

All of the above

Developed by: