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5 Written questions

5 Matching questions

  1. A market shortage is:
  2. If demand is unitary elastic, then a price cut:
  3. The factors of production include all of the following except:
  4. The planning period over which at least one resource input is fixed in quantity is the:
  5. An industry in which a few large firms supply most or all of a product is known as:
  1. a An oligopoly.
  2. b Short run.
  3. c Does not change total revenue.
  4. d Money.
  5. e Caused by a price ceiling.

5 Multiple choice questions

  1. Is relatively inelastic.
  2. Property taxes
  3. A monopoly produces less output than a competitive firm
  4. $470
  5. Difference between social and private costs or benefits.

5 True/False questions

  1. A price floor:The source of the free-rider dilemma.


  2. If a state adopts a free college tuition program, ceteris paribus, economists expect there to be a:The limited resources that individuals have.


  3. It is impossible to:Charges a higher price than a competitive firm, ceteris paribus.


  4. Proprietorships:The source of the free-rider dilemma.


  5. Exports represent:Charges a higher price than a competitive firm, ceteris paribus.


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