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
Related Mcqs:
- If a producer has market power (can influence the price of the product in the market) then free market solutions ?
A. are equitable.
B. are efficient
C. maximize consumer surplus
D. are inefficient - There is a decentralized market where geographically dispersed dealers are linked by telephones and computer screens. The market is for securities not listed on a stock or bond exchange. Name the market ?
A. Grey market
B. Over-the counter (OTC)
C. Open market
D. Back market - If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?
A. downward sloping
B. perfectly inelastic
C. upward sloping
D. perfectly elastic - If a market generates a side effect or externlity then free market solutions ?
A. maximize producer surplus
B. are efficient
C. are inefficient
D. are equitable - Mention an electronic quotation system in USA that provides price quotations to market participants about more actively traded common stock issues in OTC market ?
A. National Association of Securities Dealers Automatic Quotation system (Nasdaq)
B. New York Stock Exchange
C. Wall Street
D. Nikkei Stock Average - Name a market that is characterized by a small number of producers who often act together to control the supply of a particular good and its market price ?
A. Oligopoly
B. Monopoly
C. Oligopsony
D. Grey market - Which market is characterized by a small number of large buyers who control all purchases and therefore the market price of a good a service ?
A. Oligopoly
B. Grey market
C. Oligopsony
D. Green market - The market for hand tools (such as hammers and screwdrivers) is dominated by Draper Stanley, and Craftsman This market is best described as ?
A. monopolistically competitive
B. a monopoly
C. an oligopoly
D. competitive - Given recent information about growth trends and growth potential of ethnic populations within the U.S market which of the following ethnic groups would be a best bet to double during the next half century and become one of the U.S market’s most viable segments ?
A. Hispanics and Asians
B. African Americans
C. Western Europeans
D. Middle Eastern - If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?
A. perfectly inelastic
B. perfectly elastic
C. upward sloping
D. downward sloping
