(A) Experience goods.
(B) Giffen goods.
(C) Normal goods.
(D) None of the given options.
Category: Economics Mcqs
Users will find here Economics Mcqs for NTS, CSS, PMS, PPSC, FPSC, KPPSC, AJKPSC, BPSC, PTS, SPSC, Lecturer and all other types of Competitive Exams and Interviews. Economics students can prepare their Economics Portion for all test from here.
Welfare economics is a branch of economics dealing with:
(A) Social issues.
(B) Normative issues.
(C) Political issues.
(D) None of the given options.
A market with few entry barriers and with many firms that sell differentiated products is:
(A) Purely competitive.
(B) A monopoly.
(C) Monopolistically competitive.
(D) Oligopolistic.
For which of the following market structures is it assumed that there are barriers to entry?
(A) Perfect competition
(B) Monopolistic competition
(C) Monopoly
(D) All of the above
A doctor sizes up patients’ income and charges wealthy patients more than poorer ones. This pricing scheme represents a form of:
(A) First-degree price discrimination.
(B) Second-degree price discrimination.
(C) Third-degree price discrimination.
(D) Pricing at each consumer’s reservation price.
The monopolist has no supply curve because:
(A) The quantity supplied at any particular price depends on the monopolist’s
demand curve.
(B) The monopolist’s marginal cost curve changes considerably over time.
(C) The relationship between price and quantity depends on both marginal cost and
average cost.
(D) There is a single seller in the market.
The demand curve facing a perfectly competitive firm is:
(A) Downward-sloping and less flat than the market demand curve.
(B) Downward-sloping and more flat than the market demand curve.
(C) Perfectly horizontal.
(D) Perfectly vertical.
A firm maximizes profit by operating at the level of output where:
(A) Average revenue equals average cost.
(B) Average revenue equals average variable cost.
(C) Total costs are minimized.
(D) Marginal revenue equals marginal cost.