AÖF Soru Bankası
İKT105U

Introductıon to Economıcs I (ENG)

2021–2022 Final (Dönem Sonu) Çıkmış Soruları

  • 20 soru
  • Soru metinleri açık; şıklar ve cevap anahtarı uygulamada
  1. 1
    What would be the effect of a decrease in production costs as a result a technological innovation and/or an increase in the number of firms, i.e., new firms entering the industry in the long run, on the market supply curve?
    • AThese changes will have no effect on the market supply curve
    • BThese changes make the market supply curve negatively sloped
    • CThese changes shift the market supply curve leftward
    • DThese changes shift the market supply curve rightward
    • EThese changes cause a movement along the market supply curve
  2. 2
    If, from a position of stable equilibrium, the market supply of a product decreases while the market demand remains unchanged, -- Which of the following completes the sentence above?
    • Athe equilibrium quantity rises
    • Bthe equilibrium price rises but the equilibrium quantity falls
    • Cthe equilibrium price falls
    • Dthe equilibrium price falls but the equilibrium quantity rises
    • Eboth the equilibrium price and the equilibrium quantity decrease
  3. 3
    "--- is what a person has to give up to get a desired item or to achieve a desired outcome." Which of the following completes the sentence above?
    • Ascarcity
    • Bequity
    • Csatisfaction
    • Dopportunity cost
    • Eexternality
  4. 4
    In the long run all of a firm's costs are variable. In this case the exit criterion (firm leaves industry) for a profit maximizing firm is -- Which of the following completes the sentence above?
    • APrice > Average Variable Cost
    • BPrice = Average Variable Cost
    • CAverage Revenue > Average Fixed Cost
    • DPrice < Average Variable Cost
    • EAverage Revenue > Marginal Cost
  6. 5
    Which of the following is not among the main factors determining labor supply?
    • AWage
    • BChanges in population
    • CPrice
    • DChanges in tastes of workers
    • EOpportunities in other labor markets
  7. 6
    Which of the following is not among the main determinants of the capital demand?
    • AThe operating costs of it
    • BThe marginal revenue product received by having it
    • CThe transaction costs of having it
    • DThe price we could receive eventually by selling the same machine
    • EThe interest rate
  8. 7
    Accounting profit could differ significantly from the economic profit depending on the ---- Which of the following completes the sentence above?
    • Amagnitude of fixed costs
    • Bmagnitude of marginal cost
    • Cmagnitude of opportunity cost
    • Dmagnitude of variable cost
    • Emagnitude of sunk cost
  9. 8
    When there is a positive technological change, what will be the effect of this change on labor demand?
    • AIt causes a movement along the labor demand curve from point B(wage2) to A(wage1)
    • BThis change shifts the MRPL curve to right, increasing labor demand
    • CThis change does not affect the MRPL curve, so the labor demand curve stands still
    • DIt causes a movement along the labor demand curve from point A(wage1) to B(wage2)
    • EThis change shifts the MRPL curve to left, decreasing labor demand
  11. 9
    If two firms form a cartel in order earn monopoly profits, compared to monopoly outcome which of the following statement will be correct?
    • AA cartel produces less than monopoly quantity at higher than the monopoly price and creates a larger deadweight loss
    • BA cartel produces more than monopoly quantity at the monopoly price and creates a deadweight loss
    • CA cartel produces monopoly quantity at the monopoly price and creates a lower deadweight loss
    • DA cartel produces competitive market quantity at the monopoly price and does not create a deadweight loss
    • EA cartel produces monopoly quantity at the monopoly price and creates a deadweight loss
  12. 10
    Which of the following does not correctly explain the relationship between the total revenue and the price elasticity of demand?
    • AIf the demand is inelastic, a decrease in the price causes total revenue to decrease.
    • BIf the demand is inelastic, a decrease in the price causes total revenue to increase.
    • CIf the demand is inelastic, an increase in the price causes total revenue to increase.
    • DIf the demand is elastic, a decrease in the price causes total revenue to increase.
    • EIf the demand is elastic, an increase in the price causes total revenue to decrease.
  13. 11
    When a perfectly competitive firm decides to shut down, it is most likely that ----. Which of the following completes the sentence above?
    • Aprice is below the minimum of average variable cost
    • Bmarginal cost is above average variable cost
    • Caverage fixed costs are rising
    • Dfixed costs exceed variable costs
    • Eprofit is equal to zero
  14. 12
    Profit maximizing level of output for a monopolist is the output level where the ----. Which of the following completes the sentence above?
    • AP < MR < MC
    • BP> MR > MC i
    • CP= MR = MC
    • DP > MR = MC
    • EP < MR > MC
  16. 13
    What kind of relationship exist between the total and marginal product curves?
    • AWhen the total product curve is steepest, the marginal product curve is decreasing
    • BWhen the total product curve is steepest, the marginal product curve is at its lowest
    • CWhen the total product curve is steepest, the marginal product curve is flat
    • DWhen the total product curve is steepest, the marginal product is negative lof. E) When the total product curve is steepest,
    • Ethe marginal product curve is at its highest
  17. 14
    A consumer who is below the personal budget line (rather than on it) -----. Which of the following completes the sentence above?
    • Ais not spending all personal income
    • Bis spending all personal income
    • Cmay or may not be spending all personal income
    • Dactually he/she is borrowing
    • Eis in equilibrium
  18. 15
    Which of the following statement is correct about the shapes and relationships of typical cost curves?
    • AThe lower the Marginal cost (MC) is, the flatter the total cost (TC) and total variable (TVC) curves become,
    • BThe lower the Marginal cost (MC) is, the steeper the total cost (TC) and total variable (TVC) curves become,
    • CThe lower the Marginal cost (MC) is, the linear the total cost (TC) and total variable (TVC) curves become,
    • DThe lower the Marginal cost (MC) is, the flatter the total cost (TC) and steeper the total variable (TVC) curves become,
    • EThe lower the Marginal cost (MC) is, the of. steeper the total cost (TC) and flatter the total variable (TVC) curves become,
  19. 16
    Except the first unit of its output, the price that the monopoly charges----- Which of the following completes the sentence above?
    • Ais always greater than the marginal revenue and always equal to its average revenue
    • Bis always greater than the marginal revenue and its average revenue
    • Cis always equal to the marginal revenue and its average revenue
    • Dis always less than the marginal revenue and always equal to its average revenue
    • Eis always less than the marginal revenue and its average revenue
  21. 17
    What will be the effect of an increase in labor demand on the equilibrium wage and employment?
    • AIt decreases the equilibrium wage but employment increases
    • BIt increases the equilibrium wage and employment does not change
    • CIt increases the equilibrium wage but employment decreases
    • DIt decreases the equilibrium wage and employment
    • EIt increases the equilibrium wage and employment
  22. 18
    Which of the following statement is wrong about a monopolistically competitive firm's outcome in the long-run?
    • Awhen the price is equal to ATC, profits are zero (profits=(P-ATC)* quantity
    • Bthe price also is equal to average total cost (ATC) at the profit maximizing quantity
    • Cthe price is equal to the maximum willingness to pay price of consumers, shown on the demand curve
    • Dthis firm's profits are equal to zero at the profit maximizing quantity where (MR) of the last unit is exactly equal its MC
    • Ethis firm's profits are positive at the profit maximizing quantity where (MR) of the last unit is exactly equal its AR
  23. 19
    When the average cost curve is decreasing what can be said about the average cost (AC) and marginal cost (MC)?
    • AMarginal cost is certainly decreasing,
    • BAC > MC and AC continues to fall as long as MC remains below it,
    • CMarginal cost is certainly increasing,
    • DAC = MC at all output levels
    • EMarginal cost (MC) is smaller than the (AC) and it is constant
  24. 20
    What is the short run shut-down point for a firm?
    • AThe lowest point on the marginal cost (MC) is called the shut-down point
    • BThe lowest point on the average fixed cost (AFC) is called the shut-down point
    • CThe lowest point on the average variable cost (AVC) is called the shut-down point
    • DThe lowest point on the average cost (AC) is called the shut-down point
    • EThe lowest point on the total cost (TC) is called the shut-down point
Şıkları ve doğru cevapları görIntroductıon to Economıcs I (ENG) dersinin tüm sınavları, cevap anahtarları, süreli mod ve yanlış analizi uygulamada.Uygulamada aç