AP (Advanced Placement) Microeconomics: Questions 343 - 348 of 456
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Question 343
Question MCQ▾
If the per unit price of labor, a variable resource, increases, it causes which of the following?
Choices
Choice (5) | Response | |
---|---|---|
a. | An upward shift in MC. | |
b. | An upward shift in AFC. | |
c. | An upward shift in . | |
d. | A downward shift in AFC. | |
e. | A downward shift in ATC. |
Question 344
Question MCQ▾
There are how many stages of Law of Variable Proportion?
Choices
Choice (5) | Response | |
---|---|---|
a. | Five | |
b. | Four | |
c. | One | |
d. | Two | |
e. | Three |
Question 345
Question MCQ▾
If these firms do not collude, the outcome will be:
Choices
Choice (5) | Response | |
---|---|---|
a. | Both firms maintain the status quo. | |
b. | Firm X advertises and Firm Y maintains the status quo. | |
c. | Firm Y advertises and Firm X maintains the status quo. | |
d. | Both firms advertise. | |
e. | All of the above |
Question 346
Question MCQ▾
under which market structure; Price discrimination is possible?
Choices
Choice (5) | Response | |
---|---|---|
a. | Perfect competition | |
b. | Oligopoly | |
c. | Imperfect competition | |
d. | Duopoly | |
e. | Oligopolistic |
Question 347
Question MCQ▾
Dead weight loss occurs in
Choices
Choice (5) | Response | |
---|---|---|
a. | Monopolistic competition as . | |
b. | Monopoly markets because . | |
c. | Oligopoly markets because . | |
d. | All a., b. and c. are correct | |
e. | None of the above |
Question 348
Question MCQ▾
If the perfectly competitive price is currently above minimum ATC, we can expect which of the following events eventually?
Choices
Choice (5) | Response | |
---|---|---|
a. | Market equilibrium quantity rises as firms exit the industry. | |
b. | Nothing, the industry is currently in long-run equilibrium. | |
c. | Profits fall as the market price rises | |
d. | Price rises as firms enter the industry. | |
e. | Price falls as firms enter the industry. |