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Online Quiz about the subject of Intermediate Microeconomics MCQs. There are 20 MCQs in each quiz. These quizzes will help you prepare Economics and Microeconomics MCQs for Lecturer & Subject Specialist Exams. Answer the following multiple-choice questions and press ‘Submit‘ to get your score. Click the link below to start with the Intermediate Microeconomics Quiz.

Intermediate Microeconomics MCQs

• In economics, what does the term “economic rent” refer to?
• Which of the following is an example of a non-excludable good?
• What is the formula for calculating total revenue (TR)?
• Which of the following is a characteristic of a pure monopoly market structure?
• What is the formula for calculating the elasticity of supply?
• Which of the following is a characteristic of a competitive firm in the short run?
• What is the formula for calculating the price elasticity of demand (PED)?
• Which of the following is a characteristic of a natural monopoly?
• What is the primary determinant of the level of profit a firm can earn in the short run?
• What is a “patent” in economics?
• Which of the following is NOT a characteristic of a pure monopoly market structure?
• What is the formula for calculating total variable cost (TVC)?
• In economics, what does the term “perfectly elastic demand” mean?
• Which of the following is an example of a non-rivalrous good?
• What is the formula for calculating the cross-price elasticity of demand (XED) between two goods A and B?
• Which of the following is a characteristic of a perfect competition market structure?
• What is the primary determinant of the elasticity of demand for a good?
• Which of the following is an example of a private good?
• What is the formula for calculating marginal product (MP)?
• Which of the following is a characteristic of a perfectly competitive market in the short run?

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MCQs Economics

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.

Please go to MCQs Microeconomics Questions 3 to view the test

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)?

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