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4174606
Microeconomics 10 Multiple Choice Question Quiz
Descripción
Practice quiz
Sin etiquetas
microeconomics
comparative advantage
productivity
marginal utility
economies of scale
costing
product market
explicit and implicit costs
law of demand and supply
elasticity
Test por
locastellanos
, actualizado hace más de 1 año
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Menos
Creado por
locastellanos
hace casi 9 años
44
2
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Resumen del Recurso
Pregunta 1
Pregunta
The Law of Diminishing Marginal Returns is not true under these circumstances:
Respuesta
Constant marginal utility of money, application to money and rare collection.
Constant marginal utility of money, diminishing marginal utility and rationality
Application to money, rare collection and intoxicants
Constant marginal utility of money, intoxicants and rationality
Pregunta 2
Pregunta
Which of these costs are variable?
Respuesta
Electricity, salaries, oil, commissions
Salaries, transportation, commissions, insurance
Machinery, wages, insurance, maintenance
Transportation, wages, commissions, oil
Pregunta 3
Pregunta
Order these terms from more competitive to less competitive:
Respuesta
Perfect Competition—Oligopoly—Monopolistic Competition—Duopoly—Monopoly—Pure Monopoly
Perfect Competition—Monopolistic Competition—Oligopoly—Duopoly—Monopoly—Pure Monopoly
Perfect Competition—Monopolistic Competition— Duopoly —Oligopoly—Monopoly—Pure Monopoly
Perfect Competition—Oligopoly— Duopoly — Monopolistic Competition —Monopoly—Pure Monopoly
Pregunta 4
Pregunta
If long run input is 67% and output is 64% it is...
Respuesta
Economies of scale
Diseconomies of scale
Diminishing returns to scale
Increasing returns to scale
Pregunta 5
Pregunta
Which of these does not shift demand?
Respuesta
Number of buyers
Market expectations
resource cost
Income of buyers
Pregunta 6
Pregunta
At what point is a kilo of cheese more elastic?
Respuesta
$0
$1
$2
$5
Pregunta 7
Pregunta
Which of these is upward sloping in Xed?
Respuesta
Substitutes
Complements
Normal goods
Inferior goods
Pregunta 8
Pregunta
Which of these is not a possible gain of specialization?
Respuesta
Bigger global market
More variety of products
Prices increase
Higher total output
Pregunta 9
Pregunta
How is productivity typically measured?
Respuesta
Total amount of money the firm makes
How many utils does the product give the consumer
Input of land and capital
Output per hour worked
Pregunta 10
Pregunta
Ireland produces 30 units of beer and 10 units of coffee. Colombia produces 10 units of beer and 30 units of coffee. What are the terms of trade?
Respuesta
From 10 to 30
From 1/3 to 1
From 1 to 3
From 3 to 30
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