Please select mcq 012. Market equilibrium may not be achieved ifthere isA) only price ceiling.B) only price floor.C) both price floor and price ceiling.C) neither price ceiling nor price floor.013. The price floor is setequilibrium price.A) none of the above.B) higher than.C) lower than.D) equal to.014. An increase in population tends toA) increase both equilibrium price and quantity.B) decrease both equilibrium price and quantity.C) increase equilibrium quantity and decreaseequilibrium price.D) increase equilibrium price and decreaseequilibrium quantity.015. In the short run, all factors of productionareA) fixed.B) semi-fixed.C) fixed and variable.D) variable.016. Which of the following is TRUE when thetotal product of labour is at maximum?A) Marginal product is negative.B) Average product is increasing.C) Marginal product is increasing.D) Marginal product is zero.the017. Markets with a large number of sellers,producing identical products, and that are easyto enter and exit, are calledA) Monopolistic competition.B) MonopolyC) Oligopoly.D) Perfect competition018. In which market structure entry is the mostdifficult?A) Pure competition.B) Oligopoly.C) Monopolistic competition.D) Pure monopoly.019. Entry into an oligopolistic market may bedifficult due toA) the cost of capital required to produceefficiently.B) government regulation.C) the amount of advertising expendituresrequired to secure a profitable share of themarket.D) all of the above.0

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012. Market equilibrium may not be achieved if there is A) only price ceiling. B) only price floor. C) both price floor and price ceiling. C) neither price ceiling nor price floor. 013. The price floor is set_ equilibrium price. A) none of the above. B) higher than. C) lower than. D) equal to. the 014. An increase in population tends to A) increase both equilibrium price and quantity.

012. Market equilibrium may not be achieved if there is A) only price ceiling. B) only price floor. C) both price floor and price ceiling. C) neither price ceiling nor price floor. 013. The price floor is set_ equilibrium price. A) none of the above. B) higher than. C) lower than. D) equal to. the 014. An increase in population tends to A) increase both equilibrium price and quantity.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 2MC

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