The test in microeconomics (the test with the answers)

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Uploaded: 21.01.2016
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1. At the same time increasing revenues and customer implementation of resource saving technologies in the production of price and sales volume of normal goods will change as follows:
a) sales will decline, the price will rise;
b) sales increase, the price can be reduced and, and grow, and remain unchanged;
c) the price will rise, sales may decline, and grow, and remain unchanged;
d) sales decline, the price may be reduced, and grow, and remain unchanged.

2. When a competitive firm reaches the level of production at which the monetary value of the marginal product of each resource equal to the price of the resource, it will:
a. It manufactures products at minimal cost, but not necessarily received the maximum profit.
b. It gets the maximum profit, but not necessarily produces a product at minimal cost.
at. It gets the maximum profit at the minimum cost of production.
It was not necessary to maximize your earnings, or reaches a minimum level of costs.
d. None of the answers is correct.

3. Markets are perfect and monopolistic competition have in common:
a. Available in differentiated products.
b. The market operates on the set of buyers and sellers.
at. Each firm faces a horizontal demand curve for its product.
They made similar goods
d. Market behavior of each firm depends on the reaction of its competitors.

Additional information

The test includes 85 multiple-choice questions

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