AP (Advanced Placement) Microeconomics: Questions 199 - 203 of 398

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Question 199

Question

MCQ▾

Which of the following denotes Efficiency in production and exchange both?

Choices

Choice (5)Response

a.

b.

c.

d.

e.

None of the above

Question 200

Question

MCQ▾

Which of the following is correct about Perfect Competition and Monopolistic Competition?

Choices

Choice (5)Response

a.

In the long run, they make Super profits.

b.

In the long run, they make normal profits.

c.

In the long run, they make Economic losses.

d.

In long run, they make Economic Profits

e.

None of the above

Question 201

Question

MCQ▾

In which of the following price discrimination, AR and MR curve is the same?

Choices

Choice (5)Response

a.

Fourth Degree Price Discrimination

b.

Second Degree Price Discrimination

c.

Third Degree Price Discrimination

d.

First Degree Price Discrimination

e.

Question does not provide sufficient data or is vague

Question 202

Question

MCQ▾

In perfect competition what shape is the demand curve of the firm?

Choices

Choice (5)Response

a.

Upward

b.

Downward

c.

Horizontal

d.

Vertical

e.

Question does not provide sufficient data or is vague

Question 203

Question

MCQ▾

Which of the following is not true about Sweezy kinked demand curve?

Choices

Choice (5)Response

a.

When the Oligopolist tries to increase price, then everyone else also increase the price.

b.

When the Oligopolist tries to decrease the price, then everyone else also decrease the price.

c.

The demand curve portion below the kink is of heterogeneous goods, and is of less elastic.

d.

The demand curve portion above the kink is of homogenous goods, and is highly elastic.

e.

All of the above

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