AP (Advanced Placement) Microeconomics: Questions 356 - 359 of 398

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Question 356

Appeared in Year: 2020 (NET)

Question

MCQ▾

Given the Total Cost, , what will be the Minimum average cost? At what level of output will the minimum cost occur? (Q is the level of output) (September Evening Shift)

Choices

Choice (5)Response

a.

Minimum average cost is at

b.

Minimum average cost is at

c.

Minimum average cost is at

d.

Minimum average cost is , at

e.

None of the above

Question 357

Appeared in Year: 2020 (NET)

Question

MCQ▾

What is the value of the equilibrium level of income for the data given below for an economy?

C =

t = 20 %

I = 100

G = 30

(September Evening Shift)

Choices

Choice (5)Response

a.

500

b.

600

c.

300

d.

400

e.

All of the above

Question 358

Question

MCQ▾

In the Perfect competition market, there are

Options:

(i) Large no. of buyers and sellers

(ii) Small no. of sellers and buyers

(iii) Large no. of buyers only

(iv) Small no. of buyers only

Choices

Choice (5)Response

a.

(iii) only

b.

(ii) only

c.

(i) only

d.

None of the above

e.

Question does not provide sufficient data or is vague

Question 359

Appeared in Year: 2020 (NET)

Question

MCQ▾

For the production function, Q

A. the Coefficient A shows managerial efficiency

B. If then the production function exhibits increasing returns to scale

C. Marginal Rate of Technical Substitution of L for K is given by

D. The Marginal Product of Capital is given by

Choose the correct answer from the options given below:

(September Evening Shift)

Choices

Choice (5)Response

a.

A, B and D only

b.

A, B and C only

c.

A, C and D only

d.

All of the above

e.

Question does not provide sufficient data or is vague

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