Economics - Practice Test | ExamPrepSheets

[#736] The demand curve is . . . . . . . . representation of a demand schedule, demand curve slopes . . . . . . . . ward from left to right.

(A) graphical, down

(B) down, graphical

(C) graphical, up

(D) schedule, up

Correct Answer

(A) graphical, down

[#737] Quasi-rent is related to

(A) Short-run

(B) Long-run

(C) Very long run

(D) All of the above

Correct Answer

(A) Short-run

[#738] In monopolistic competition, a firm is in long run equilibrium

(A) at the minimum point of the long-run average cost curve

(B) in the declining segment of the long-run average cost curve

(C) in the rising segment of the long-run average cost curve

(D) when the price is equal to marginal cost

(E) At the minimum point of the LAC curve

(F) In the declining segment of the LAC curve

(G) In the rising segment of the LAC curve

(H) When price is equal to marginal cost

Correct Answer

(B) in the declining segment of the long-run average cost curve
(F) In the declining segment of the LAC curve

[#739] Operation generated forecasts often not to do with

(A) Inventory requirements

(B) Resources needs

(C) Time requirements

(D) Sale

Correct Answer

(D) Sale

[#740] When total utility is maximum, then marginal utility is

(A) Zero

(B) Less than average utility

(C) Equal to average utility

(D) Above average utility

Correct Answer

(A) Zero

Economics - Study Mode

[#736] The demand curve is . . . . . . . . representation of a demand schedule, demand curve slopes . . . . . . . . ward from left to right.

Correct Answer

[#737] Quasi-rent is related to

Correct Answer

[#738] In monopolistic competition, a firm is in long run equilibrium

Correct Answer

[#739] Operation generated forecasts often not to do with

Correct Answer

[#740] When total utility is maximum, then marginal utility is

Correct Answer