The post is about Economics and MCQs Microeconomics Questions with answers. There are 20 multiple-choice type questions covering the topics related to the marginal cost, elasticity, cost, marginal revenue, average cost, perfectly elastic demand curve, marginal returns, monopolistic competitive market structure, revenue, fixed costs, profit, demand, substitute goods, and elasticity of demand. Let us start with the MCQs Microeconomics Questions with answers.
Online MCQS Microeconomics Questions with Answers
Online MCQs Microeconomics Questions with Answers
- What is the formula for calculating marginal cost (MC)?
- Which of the following is a characteristic of a competitive firm in the long run?
- Which of the following is a characteristic of a monopolistically competitive market structure?
- What is the formula for calculating average variable cost (AVC)?
- Which of the following is an example of a variable cost for a firm?
- Which of the following is an example of a common resource in economics?
- What is the primary objective of a firm’s pricing strategy?
- What is the formula for calculating profit in economics?
- Which of the following is a characteristic of perfect competition?
- What is the formula for calculating marginal revenue (MR)?
- In economics, what is the “production function”?
- Which of the following is a characteristic of a public good?
- What is the formula for calculating consumer surplus?
- Which of the following is NOT a determinant of supply?
- What is the formula for calculating economic profit?
- Which of the following is a characteristic of a perfectly competitive firm in the short run?
- What is a “complementary good” in economics?
- What is the formula for calculating average revenue (AR)?
- Which of the following is a characteristic of a competitive market in the long run?
- What is the formula for calculating average fixed cost (AFC)?
