Stocks & Surplus Economics Mcqs
Stocks & Surplus Economics Mcqs, this topic has 40 mcqs, It takes five to ten minutes to complete this free Stocks & Surplus Economics Mcqs test. You will see 4 or 5 option of each question. You must choose / think only one option and then press on answer key for check right answer. Practice "Stocks & Surplus Economics Mcqs" MCQs and share with your friends, brothers, sisters.
Stocks & Surplus Economics Mcqs (Total Quiz: 40)
MCQ: Jamil has ten pairs of football boots and saleem has none. A pair of football boots cost Rs50. to produce. If jamil values an additional pair of boots at RS100 and saleem values a pair of boots at Rs40, then the maxime ?
- efficiency Saleem should receive the glove
- Efficiency Jamil should receive the glove
- equity Jamil should receive the glove
- consumer surplus both should receive a glove
B
MCQ: Medical care clearly enhance people’s lives. Therefore, we should consume medical care until ?
- everyone has as much as they would like
- the benefit buyers place on medical care is equal to the cost of producing it
- buyers receive no benefit from another unit of medical care.
- we must cut back on the consumption of other goods.
B
MCQ: If a market is efficient then_______?
- the market allocates buyers to the sellers who can produce the good at least cost
- all these answers
- none of these answers
- the quantity produced in the market maximizes the sum of consumer and producer surplus
- the market allocates output to the buyers that value it the most
B
MCQ: In general, if a benevolent social planner wanted to maximize the total benefits received by buyers and sellers in a market, the planner should?
- choose a price below the market equilibrium price
- allow the market to seek equilibrium on its own.
- 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 (
- choose a price above the market equilibrium price
B
MCQ: An increase in the price of a good along a stationary supply curve______________?
- increase producer surplus
- does all the things describe in these answers
- decrease producer surplus
- improves market equity
A
MCQ: Total surplus is the area_______________?
- above the supply curve and below the price
- below the demand curve and above the price
- below the demand curve and above the supply curve
- below the supply curve and above the price
- above the demand curve and below the price
C
MCQ: If a benevolent social planner chooses to produce more than the equilibrium quantity of a good, then ?
- the value placed on the last unit of production by buyers exceeds the cost of production
- the cost of production on the last unit produced exceeds the value placed on it by buyers.
- consumer surplus is maximized
- total surplus is maximized
- producer surplus is maximized
B
MCQ: Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ?
- Three vases will be sold, and consumer surplus is Rs80
- One vase will be sold, and consumer surplus is Rs5.
- One vase will be sold, and consumer surplus is Rs30
- Three vases will be sold, and consumer surplus is Rs0.
- Two vases will be sold, and consumer surplus is Rs5.
E
MCQ: If a buyer’s willingness to pay for a new Honda is Rs20,000 and she is able to actually buy it for Rs18,000 her consumer surplus is ?
- Rs18,000
- Rs20,000
- Rs2,000
- Rs0.
C
MCQ: Consumer surplus is the area ?
- below the demand curve and above the price.
- above the supply curve and below the price.
- above the demand curve and below the price.
- below the supply curve and above the price.
- below the demand curve and above the supply curve
A