Our team has conducted extensive research to compile a set of Elasticities in Microeconomics MCQs. We encourage you to test your Elasticities in Microeconomics knowledge by answering these 20 multiple-choice questions provided below.
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A. Anti selection
B. Death spiral
C. Adverse selection
A. Imperfect information
B. Perfect information
C. Symmetric information
D. Asymmetric information
A. Coase Theorem
B. First Welfare Theorem
C. Second Welfare Theorem
D. Nash's equilibrium existence Theorem
A. Private Good
B. Public Good
C. Consumer Good
D. Club Good
A. Production
B. Consumption
C. Both of These
D. None of These
A. Consumer
B. Free Rider
C. Outside party
D. Product Producer
A. Insured
B. Thus
C. Both of these
D. None of these
A. Expenses
B. Costs
C. Benefits
D. Loses
A. Expenses
B. Costs
C. Benefits
D. Loses
A. Private Good
B. Public Good
C. Consumer Good
D. General Good
A. Private Good
B. Public Good
C. Consumer Good
D. General Good
A. Pollution Control Rights
B. Transferable pollution Rights
C. Pollution Control Rights
D. Pollution transfer Rights
A. It will produce less than efficient output.
B. It will produce more than efficient output.
C. It will produce optimally efficient output.
D. It will fluctuate between low and high output.
A. Regulations
B. Spillovers
C. Subsidies
D. Taxes
A. Positive externality
B. Negative externality
C. Government subsidy
D. Adverse selection
A. Is free
B. Has a cost
C. Does not exist
D. Is a private good
A. Become indeterminate
B. Remain unaffected
C. Increase
D. Decrease
A. Increasing returns
B. Diminishing returns
C. Being a moral hazard
D. Being a club good
A. Adverse selection
B. Free ride problem
C. Moral hazard
D. Coase theorem
A. The cost of reaching a mutually acceptable price
B. The cost of the goods or services bought
C. Costs associated with negotiating
D. Costs of executing a transaction
A. Harder
B. More likely
C. Faster
D. Cheaper
A. Neither rival nor excludable
B. Rival, but not excludable
C. Rival and excludable
D. Not rival, but excludable
A. Limited to one person at a time
B. Restricted to those who pay for them
C. Protected from free riders
D. Available to multiple people
A. Take advantage of benefits without paying for them
B. Provide benefits to other people free-of-charge
C. Regulate industry by converting private resources to public use
D. Create technological advances that spill over to other industries
A. So technically complicated most people are unable to interpret it
B. Available to one party in a transaction but not the other
C. Known by government officials but withheld from the public
D. Too late to be used by the participants in an exchange
A. Moral hazard
B. Adverse selection
C. Rival exclusion
D. Technological spillover
A. Warranties
B. Adverse selections
C. Moral hazards
D. Signals
A. Firms; borrowers
B. Borrowers; lenders
C. Consumers; firms
D. Home buyers; home sellers