2018–2019 Yaz Okulu Çıkmış Soruları

When a firm produces 250 units of output and the total cost of production is $3000. When the firm increases its output to 350 units, the total cost rises to $4500. What is the marginal cost of production for this firm in dollar terms? A) 5 B) 15 C) 25 D) 35 E) 40

Which of the following statements is wrong about the Giffen goods? A) Demand curve is positively sloped B) The good must be inferior good C) The income effect has to dominate the substation effect when the price changes D) Examples for the Giffen goods are limited of. E) Giffen goods are normal goods and the demand curve is negatively sloped

What does zero economic profit in the long-run mean? A) Total revenue is equal to total cost B) Marginal revenue is greater than the marginal cost C) Average revenue is equal to average cost Average total cost is equal to average variable cost E) Total cost is equal to market price

Which of the following statements defines the monopolistically competitive market structure? A) It is a market structure in which there is only one seller of a commodity. B) It is a market structure which is dominated by few firms. C) It is a market structure where competition is at its greatest possible level. D) It is a market structure where there are many firms that sell diferentiated products. E It is a market structure in which economies of scale are so large.

The increase in total output produced from additional unit of labor is employed is called as the ---- Which of the following completes the sentence above? A) Marginal revenue product of labor B) Average revenue product of labor C) Total productivity of labor D) Average productivity of labor E) Marginal productivity of labor

Which of the followings is the key concept for total revenue? A) Price level of the good B)E Price elasticity of demand C) Market efficiency D) Opportunity cost E) Law of demand

Consider that the price of good X decreases from 2000 TL to 1800 TL. In response, the quantity demanded for good X increases from 5000 units to 6000 units. What is the price elasticity of demand by using the midpoint approach? A) -0,5 B) -1 C) -1,73 D) -2,5 E) -3

While a market were in equilibrium, what happens to market equilibrium price and quantity if the market demand curve shifts to right as a results of change in number of buyers? A) The equilibrium price increases but the quantity decreases B) The equilibrium price and quantity increase C) The equilibrium price and quantity do not change D) The equilibrium price and quantity decrease E) The equilibrium price decreases, but the quantity increases

If the price of good X increases while the price of the good Y is constant, how this development effect the budget line? A) The budget line shits in on the good y side, total good X can be consumed does not change. B) The budget line does not change C) The budget line shifts to the right D) The budget line shits in on the good X side, total good Y can be consumed does not change E) The budget line shifts to the left

What does scarcity mean in economics? A) Inability to produce all the desired goods and services B) Insufficient technology to produce better goods and services C) Lack of equilibrium in the markets D) Ability to produce all the desired goods and services E) Inability to know what to produce

For a firm to maximize its profit what is the rule of amount of output that firm needs to produce? A) Marginal revenue = Average cost B) Marginal revenue = Price C) Marginal revenue = Average revenue D) Marginal revenue = Marginal cost E) Marginal revenue = Marginal productivity of labor

The total cost is best expressed with which of the following statements? A) Total fixed cost + Total variable cost B) Average fixed cost + Average variable cost C) Marginal cost x Quantity D) Average variable cost × Quantity E) Average fixed cost × Quantity

Which of the following is an issue for microeconomics? A) Inflation B) Employment and unemployment C) GDP growth D) Government budget deficit E) Consumer equilibrium

Which of the following development causes a shift in demand curve for good X to the right? A) If the goods X and Y are substitutes for each other and the price of Y decreases B) If the goods X and Y are substitutes for each other and the price of good Y increases C) If the goods X and Y are complementary and the price of Y increases D) Consumer income decreases for a normal good E) Consumer income increases for an inferior good

What is the concept for describing that every decision is made by considering incremental changes? A) Externalities B) Opportunity cost C) Thinking at the margin net D) Incentive E)S Positive-sum game

Which of the followings is an exception of the law of demand? A) Goods with high price elasticity B) Labor supply C) Giffen goods D) Goods with low price elasticity E) Luxury goods

Which of the followings is irrelevant in determination of price elasticity of demand? A) Number of sellers in the market B) Availability of close substitutes C) Proportion in the budget D) Time horizon E) Type of the good (necessity or luxury)

Which of the followings does not affect the labor supply? A) Work-leisure choice of workers C) Law of diminishing returns ular net, B) Change in population r.net. D) Preferences of workers e) Opportunities in labor markets

I. Good or service does not have close substitutes. Il. There are barriers to entry. III. The firm has a power to influence over price. IV. There is a diseconomies of scale in production Which of the above statements are considered as a key features of a monopoly? A) land I ot.sor B) I| and Ill C) III and IV D) I, Il and I| E) 1, Il and IV

Which of the following refers to the market structure characterized by a single firm that sells goods with no close substitute? A) Perfect Competition B) Monopsony C) Duopoly D) Oligopoloy E) Monopoly