AP (Advanced Placement) Microeconomics: Questions 293 - 298 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 293

Question

MCQ▾

Marginal rate of transformation between two goods X and Y is defined as

Choices

Choice (5)Response

a.

b.

c.

d.

Question does not provide sufficient data or is vague

e.

All of the above

Question 294

Question

MCQ▾

Which of the following will be true for both monopoly and monopolistic competition in the Short run?

Choices

Choice (5)Response

a.

Price is equal to marginal cost.

b.

Price is equal to marginal revenue.

c.

Price is greater than marginal revenue.

d.

Price is equal to average cost.

e.

All of the above

Question 295

Question

MCQ▾

Elasticity of demand can be best described as?

Choices

Choice (5)Response

a.

Price of other related commodity rise

b.

Change in taste and preference of consumer

c.

Degree of responsiveness of quantity demanded

d.

Change in Income of consumer

e.

Price change of product

Question 296

Question

MCQ▾

Purchasing power can be termed as

Choices

Choice (5)Response

a.

Cost of that commodity

b.

Demand of that commodity

c.

Want for any commodity

d.

Desire for any commodity

e.

Having monetary value of that commodity

Question 297

Question

MCQ▾
The Relationship between MC and MP

At the q3 level of output,

Choices

Choice (5)Response

a.

b.

c.

d.

e.

Question 298

Question

MCQ▾

Unitary Elasticity is represented as;

Choices

Choice (5)Response

a.

b.

c.

d.

e.

Developed by: