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GK
GK Set-1
Economics
Micro Economics
150

Micro Economics MCQ (GK Set-1) with Answers

150) On a graph showing the effects of an ad valorem tax, where do we find the price received by producers?

At the point on S below the point where S+tax intersects D

At the point where S intersects D

At the point where S+tax intersects D

At the initial price minus the amount of the tax

Answer is:

At the point on S below the point where S+tax intersects D

Micro Economics MCQ (GK Set-1) with Answers

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Related Micro Economics MCQ (GK Set-1) with Answers

151) choose the correct answer:1.Consumer surplus is the buyer’s willingness to pay minus the seller’s cost. 2.If the demand curve in a market is stationary, consumer surplus decreases when the price in th

1-T,2-F,3-T

1-F,2-T,3-F

1-T,2-T,3-F

1-F,2-F,3-T

Answer is:

1-F,2-T,3-F

152) choose the correct answer:1.Producer surplus is a measure of the unsold inventories of suppliers in a market. 2.Consumer surplus is a good measure of buyers’ benefits if buyers are rational 3.Cost to the seller incl

1-F,2-T,3-T

1-F,2-T,3-F

1-T,2-T,3-F

1-F,2-F,3-T

Answer is:

1-F,2-T,3-T

153) choose the correct answer:1.The height of the supply curve is the marginal seller’s cost. 2.Total surplus is the seller’s cost minus the buyer’s willingness t

1-T,2-F,3-F

1-F,2-T,3-F

1-T,2-T,3-F

1-F,2-F,3-T

Answer is:

1-T,2-F,3-F

154) choose the correct answer:1.Producer surplus is the area above the supply curve and below the price. 2.The major advantage of allowing free markets to allocate resources is that the outcome of the allocati

1-T,2-T,3-T

1-F,2-T,3-F

1-T,2-T,3-F

1-F,2-F,3-T

Answer is:

1-T,2-T,3-T

Micro Economics MCQ (GK Set-1) with Answers

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