A. the market allocates buyers to the sellers who can produce the good at least cost
B. all these answers
C. none of these answers
D. the quantity produced in the market maximizes the sum of consumer and producer surplus
E. the market allocates output to the buyers that value it the most
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. choose a price below the market equilibrium price
B. allow the market to seek equilibrium on its own.
C. Choose any price the planner wants because the losses to the sellers (buyers) from any change in price are exactly offset by the gains to the buyers (sellers).
D. choose a price above the market equilibrium price
A. increase producer surplus
B. does all the things describe in these answers
C. decrease producer surplus
D. improves market equity
A. above the supply curve and below the price
B. below the demand curve and above the price
C. below the demand curve and above the supply curve
D. below the supply curve and above the price
E. above the demand curve and below the price
A. the value placed on the last unit of production by buyers exceeds the cost of production
B. the cost of production on the last unit produced exceeds the value placed on it by buyers.
C. consumer surplus is maximized
D. total surplus is maximized
E. producer surplus is maximized
A. Three vases will be sold, and consumer surplus is Rs80
B. One vase will be sold, and consumer surplus is Rs5.
C. One vase will be sold, and consumer surplus is Rs30.
D. Three vases will be sold, and consumer surplus is Rs0.
E. Two vases will be sold, and consumer surplus is Rs5.
A. Rs18,000
B. Rs20,000
C. Rs2,000
D. Rs0.
A. below the demand curve and above the price.
B. above the supply curve and below the price.
C. above the demand curve and below the price.
D. below the supply curve and above the price.
E. below the demand curve and above the supply curve
A. $100,000 units
B. $400,000 units
C. $600,000 units
D. $800,000 units
A. Progressive and thus bear down on the wealthy
B. regressive and thus bear down on the poor
C. proportional and thus bear down on all consumers in the same manner
D. deflationary and thus result in reductions in the price of imports
