MicroEconomics Quiz 1 [ 100+ Quiz with Answers ]

MicroEconomics

QUIZ NO. 1

Multiple Choice— Select the option that best completes the sentence or provides the answer to the question.
  1. Which of the following best describes a technology with increasing returns to scale?




  2. The opportunity cost of something is




  3. In which of the following circumstances a natural monopoly would likely arise?




  4. The market demand curve is




  5. Which of the following is true for a long-run equilibrium in a competitive industry?





  6. For a demand curve to slope upward,




  7. Which of the following combinations is more likely to have straight-line indifference curve?




  8. Which of the following is a necessary condition for a monopoly to arise?




  9. A monopolist's marginal revenue curve lies below average revenue, because:




  10. The market demand curve for a luxury good:



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