Quiz

Microeconomics

2016: Felipe Sil 10 questions

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Questions in this quiz (10)

1What is an example of a homogenous product?
1. AWater
2. BCellphones
3. CShoes
4. DComputers
2An increase in income would shift the demand curve
1. ATo the right
2. Bto the left
3. Cwouldnt shift it
3If the total fixed cost is 40000, what would be the average fixed cost for 160 products
1. A800
2. B250
3. C640000
4. D25
4Poor communication, Lack of motivation, lack of direction are examples of:
1. AExternal D.O.S
2. BExternal E.O.S
3. CInternal D.O.S
4. DInternal E.O.S
5What is an example of an inelastic good
1. ACellphones
2. BShoes
3. CCigarettes
4. DAirplane tickets
6Which curve shows all SRATC curves together
1. ASRAS
2. BLRATC
3. CAD
4. DAS
7At perfect competition how many firms are assumed to exist
1. ANone
2. B1
3. C100
4. DInfinite
8To measure elasticity demand, one has to divide change in quantity demanded by...
1. Achange in supply
2. Bchange in income
3. Cchange in price level
4. Dquantity
9What is the economic term for the profit that could have been made?
1. AExplicit costs
2. Bimplicit costs
3. CTotal revenue
4. Daccounting profit
10There are no barriers of entry and exit in a...
1. AMonopoly
2. BDuopoly
3. CMultiple firm market
4. DPerect competition market