Firm Behavior & Market Structure-Profit [AP (Advanced Placement) Microeconomics]: Questions 1 - 4 of 65

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Question 1

Appeared in Year: 2017 (NET)

Question

MCQ▾

A forward shifted tax will affect

Choices

Choice (5)Response

a.

Buyers more than sellers

b.

Sellers more than buyers

c.

Government revenues negatively

d.

Buyers and sellers equally

e.

All of the above

Question 2

Appeared in Year: 2014 (NET)

Question

MCQ▾

An industry whose long run supply curve is horizontal is called (June)

Choices

Choice (5)Response

a.

Constant cost industry

b.

Decreasing Cost Industry

c.

Increasing Cost Industry

d.

Efficient Industry

e.

Question does not provide sufficient data or is vague

Question 3

Appeared in Year: 2013 (NET)

Question

MCQ▾

Which one of the following is not an assumption of linear programming? (Dec)

Choices

Choice (5)Response

a.

Constant output prices

b.

Technologically fixed factor Proportion

c.

Increasing returns to scale

d.

Constant input prices

e.

All of the above

Question 4

Appeared in Year: 2013 (NET)

Question

MCQ▾

If the monopolist incurs loss in the short run, then in the long run

i. He will go out of business

ii. He will stay in business

iii. He will break even

iv. Any of the above is possible (December)

Choices

Choice (5)Response

a.

i only

b.

i and iii

c.

i and ii

d.

ii only

e.

Question does not provide sufficient data or is vague

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