AP (Advanced Placement) Microeconomics: Questions 343 - 348 of 456

Choose Programs:

📹 Video Course 2024 (50 Lectures [15 hrs : 8 mins]): Offline Support

Rs. 100.00 -OR-

1 Month Validity (Multiple Devices)

Preview All LecturesDetails

🎓 Study Material (102 Notes): 2024-2025 Syllabus

Rs. 250.00 -OR-

3 Year Validity (Multiple Devices)

Topic-wise Notes & SampleDetails

🎯 456 MCQs (& PYQs) with Full Explanations (2024-2025 Exam)

Rs. 300.00 -OR-

3 Year Validity (Multiple Devices)

CoverageDetailsSample Explanation

Help me Choose & Register (Watch Video) Already Subscribed?

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.

Edit

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

Edit

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

Edit

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

Edit

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

Edit

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.

Edit