AP (Advanced Placement) Microeconomics: Questions 216 - 221 of 456
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Passage
Go through the following paragraph and diagram and answer the questions given below:
Monopoly charges a price above marginal cost not all consumers who value the good at more than its cost buy it. Thus the quantity produced and sold by a monopoly is blow the socially efficient level. The deadweight loss represented by the area of the triangle between the demand curve and the marginal cost curve.
Question 216 (2 of 3 Based on Passage)
Appeared in Year: 2019
Question MCQ▾
Deadweight loss is represented by the area of (June)
Choices
Choice (5) | Response | |
---|---|---|
a. | ||
b. | BAC | |
c. | ||
d. | ||
e. | None of the above |
Question 217 (3 of 3 Based on Passage)
Appeared in Year: 2019
Question MCQ▾
What price will be charged under monopoly? (June)
Choices
Choice (5) | Response | |
---|---|---|
a. | OF | |
b. | OG | |
c. | ||
d. | OE | |
e. | All of the above |
Question 218
Appeared in Year: 2019
Question MCQ▾
If , the price elasticity of demand is (June Paper-II)
Choices
Choice (5) | Response | |
---|---|---|
a. | 1.5 | |
b. | 1 | |
c. | 2.3 | |
d. | 1.75 | |
e. | All of the above |
Question 219
Appeared in Year: 2019
Question MCQ▾
Which of the following is an example of a public good? (June Paper-II)
Choices
Choice (5) | Response | |
---|---|---|
a. | Swimming pool of a house | |
b. | Residential building | |
c. | Restaurant meals | |
d. | National defence | |
e. | Question does not provide sufficient data or is vague |
Question 220
Appeared in Year: 2019
Question MCQ▾
The inventory approach to the transaction demand suggests that the transaction component of the demand for money is: (December)
Choices
Choice (5) | Response | |
---|---|---|
a. | Negatively related to interest rate | |
b. | Negatively related to real income | |
c. | Negatively related to nominal income | |
d. | Negatively related to real wealth | |
e. | All of the above |
Question 221
Appeared in Year: 2019
Question MCQ▾
The compensation principle which says that state A is socially preferable to state B, if those who gain from the change can compensate the losers and yet end up with surplus welfare gain is attributed to: (December)
Choices
Choice (5) | Response | |
---|---|---|
a. | W Pareto | |
b. | T. Scitovsky | |
c. | N. Kaldor | |
d. | Bergson | |
e. | All of the above |