AP Microeconomics - 10 Questions

Descrição

AP Microeconomics, 10 questions.
2016: Esteban Vi
Quiz por 2016: Esteban Vi, atualizado more than 1 year ago
2016: Esteban Vi
Criado por 2016: Esteban Vi quase 9 anos atrás
17
0

Resumo de Recurso

Questão 1

Questão
A firm in perfect competition has zero power.
Responda
  • True
  • False

Questão 2

Questão
In perfect competition, there are no barriers of entry and exit.
Responda
  • True
  • False

Questão 3

Questão
Is money an example of perfect competition?
Responda
  • True
  • False

Questão 4

Questão
The supplier will cut back on production if [blank_start]marginal cost[blank_end] is greater than [blank_start]marginal revenue[blank_end].
Responda
  • marginal cost
  • marginal revenue

Questão 5

Questão
The marginal cost curve is the firm's supply curve above the point where [blank_start]price[blank_end] exceeds [blank_start]average variable cost[blank_end].
Responda
  • price
  • average variable cost

Questão 6

Questão
Profit maximization (Formula)
Responda
  • MC=AC
  • MC=AR
  • MC=MR

Questão 7

Questão
Productive efficiency (Formula)
Responda
  • MC=AR
  • MC=MR
  • MC=AC

Questão 8

Questão
Allocative efficiency (Formula)
Responda
  • MC=AR
  • MC=AC
  • MC=MR

Questão 9

Questão
Normal profit is minimum profit that allow current profits to stay in use.
Responda
  • True
  • False

Questão 10

Questão
Is lack of motivation one of the reason for diseconomies of scale?
Responda
  • Yes
  • No

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