Supply & Demand Mcqs
Supply & Demand Mcqs, this topic has 81 mcqs, It takes five to ten minutes to complete this free Supply & Demand 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 "Supply & Demand Mcqs" MCQs and share with your friends, brothers, sisters.
Supply & Demand Mcqs (Total Quiz: 81)
MCQ: A firm that makes profit in addition to normal profit is making ?
- Economic profit
- Accounting profit
- Normal profit
- supernormal profit
MCQ: An upward shift in marginal cost _____ output and an upward shift in marginal revenue ______ output?
- reduces; reduces
- reduces; increases
- increases; increases
- increases; reduces
MCQ: Marginal revenue is the ________ when output is __________?
- Change in average revenue, increased
- Change in total revenue, increase by one unit
- change in average revenue, increased by one unit
- change in total revenue increased
MCQ: Firms are assumed to ________ costs and to ________ profits?
- incur, desire
- pay, make
- charge earns
- minimize, maximize
MCQ: The extra utility from consuming one more unit of a good is called ?
- Marginal utility
- Additional utility
- Surplus utility
- Bonus utility
MCQ: The opportunity cost of a student is____________?
- Course fees and rent
- A loan from the bank
- What the student could have earned in the best job available by not studying
- What the student will earn after graduation
MCQ: If your income doubles and the prices of the goods you buy double then your demand for these goods will likely?
- not change
MCQ: A measurement showing how quantity demanded varies with income is the ?
- Price elasticity of demand
- Cross-price elasticity of demand
- budget elasticity of demand
- income elasticity of demand
MCQ: The price elasticity of demand measures ?
- The responsiveness of quantity demanded to a change in price
- How far a demand curve shifts
- a change in price
- a change in quantity demanded
MCQ: Increased level consumption ?
- shift aggregate supply to the right
- shift aggregate supply to the left
- shift aggregate demand to the right
- shift aggregate demand to the left