AP (Advanced Placement) Microeconomics: Questions 25 - 29 of 398

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Question 25

Appeared in Year: 2017 (NET)

Question

MCQ▾

A public good is

(i) Non excludable in nature

(ii) Non rival in consumption

(iii) Excludable in nature

(iv) A good that public must possess

Select the correct answer from answer form the codes given below:

Choices

Choice (5)Response

a.

Only (iv)

b.

(i) and (ii)

c.

(iii) and (iv)

d.

Only (iii)

e.

All of the above

Question 26

Appeared in Year: 2017 (NET)

Question

MCQ▾

Where symbols have their usual meaning, at which price, the elasticity of demand would be unity?

Choices

Choice (5)Response

a.

10

b.

20

c.

5

d.

All a., b. and c. are correct

e.

None of the above

Question 27

Appeared in Year: 2017 (NET)

Question

MCQ▾

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

Choices

Choice (5)Response

a.

b.

c.

d.

All of the above

e.

Question does not provide sufficient data or is vague

Question 28

Appeared in Year: 2014 (NET)

Question

MCQ▾

When income effect becomes stronger than substitution effect, the labor supply curve will (June)

Choices

Choice (5)Response

a.

Slope upwards

b.

Negatively sloped

c.

Slope positively

d.

Bend backward

e.

None of the above

Question 29

Appeared in Year: 2013 (NET)

Question

MCQ▾

In the Paul Sweezy Model of Oligopoly in the Kinked Demand Curve, the point of kink represents (Dec)

Choices

Choice (5)Response

a.

Quantity Rigidity

b.

The Price and Quantity rigidity

c.

Price Rigidity

d.

Question does not provide sufficient data or is vague

e.

All of the above

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