5 Written questions
5 Matching questions
- A market shortage is:
- If demand is unitary elastic, then a price cut:
- The factors of production include all of the following except:
- The planning period over which at least one resource input is fixed in quantity is the:
- An industry in which a few large firms supply most or all of a product is known as:
- a An oligopoly.
- b Short run.
- c Does not change total revenue.
- d Money.
- e Caused by a price ceiling.
5 Multiple choice questions
- Is relatively inelastic.
- Property taxes
- A monopoly produces less output than a competitive firm
- Difference between social and private costs or benefits.
5 True/False questions
A price floor: → The source of the free-rider dilemma.
If a state adopts a free college tuition program, ceteris paribus, economists expect there to be a: → The limited resources that individuals have.
It is impossible to: → Charges a higher price than a competitive firm, ceteris paribus.
Proprietorships: → The source of the free-rider dilemma.
Exports represent: → Charges a higher price than a competitive firm, ceteris paribus.