AP (Advanced Placement) Microeconomics: Questions 349 - 351 of 398

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Question 349

Question

MCQ▾

Which characteristic is likely a part of a monopoly market but not of monopolistic competition?

Choices

Choice (5)Response

a.

Differentiated products

b.

Possibility of profit in the short run

c.

Dead weight loss exists

d.

Patents and copyrights

e.

None of the above

Question 350

Question

MCQ▾

Marginal Revenue can be best described as

Choices

Choice (5)Response

a.

Revenue earned by selling the output in high price.

b.

Revenue earned by selling the output in low price.

c.

Revenue earned by selling per unit of output.

d.

Revenue earned by selling one additional unit of output.

e.

Revenue earned by selling total output.

Question 351

Question

MCQ▾

Which of these situations is not an example of price discrimination?

Choices

Choice (5)Response

a.

Bob and Nancy each receive a coupon in the mail, but Bob redeems it while Nancy does not.

b.

Velma likes to go to the movies at the lower afternoon matinee price and Rosemary would rather pay more for the evening show.

c.

Jason and Jen go to a popular nightclub. Because it is “Ladies Night” Jen pays no cover charge, but Jason must pay to enter the club.

d.

Katie buys 12 Cokes for and Josh buys one Coke at a time for .

e.

Brent works nights so he chooses to buy bread at 7 a. m. rather than at 7 p. m.

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