A. Produces less output, charges higher prices and earns economic profits.
B. Produces less output, charges lower prices and earns only a normal profit
C. produces more output, charges higher prices and earns economics profits
D. produces less output, charges lower prices and earns economic profits
Economics Mcqs
Economics Mcqs for test Preparation from Basic to Advance. here you will find the the Baisc to Advance and most Important Economics Mcqs for your test preparation. Economics Mcqs for Lecturer & Subject Specialist Exams.
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A. more; more
B. fewer; less
C. more; less
D. no; infinite
A. how much to spend on advertising?
B. how much of each input to use?
C. What price to charge
D. none of these
A. the MR and MC curves
B. the AC and AR curves
C. the AC and MC curves
D. the MR and AR curves
A. the additional profit the firms earns when it sells an additional unit of output
B. the difference between total revenue and total cost
C. The ratio of total revenue to quantity.
D. the added revenue that a firm takes in when it increases output by one additional unit.
A. Dq/DTFC
B. TFC – q
C. TFC/q
D. q/TFC
A. marginal rate of factor substitution
B. marginal rate of substitution
C. law of diminishing marginal returns.
D. marginal rate of production
A. slope up to the right
B. are U-shaped
C. slope down to the right
D. slope down to the right and then level off.
A. average costs to remain constant
B. average costs to decrease
C. average costs to increase
D. marginal costs to increase
A. If TP is declining, then AP is negative
B. If AP = MP, then total product is at a maximum.
C. If AP exceeds MP then AP is falling
D. If AP is at a maximum, then MP is also,
