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MCQs

Total Questions : 230 | Page 22 of 23 pages
Question 211. The theory of the second best suggests that in the absence of perfect competition a privatized industry should charge a price of ?
  1.    p = Z
  2.    P = MC + Z
  3.    p = MC
  4.    P = MC – Z
 Discuss Question
Answer: Option B. -> P = MC + Z
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 212. Antimonopoly legislation is undertaken to ____ competition and market regulation is undertaken to ____ competition ?
  1.    restrict; promote
  2.    restrict; restrict
  3.    promote; promote
  4.    promote; restrict
 Discuss Question
Answer: Option D. -> promote; restrict
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 213. In the UK, electricity industry parts are a ____ and other parts are ___ ?
  1.    nationalized; privatized
  2.    natural monopoly; potentially competitive
  3.    cartel; a sellers’ market
  4.    monopolistic competition duopoly
 Discuss Question
Answer: Option B. -> natural monopoly; potentially competitive
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 214. A conglomerate merger is a merger of ?
  1.    firms producing the same product
  2.    firms at various stages in production process.
  3.    firm producing complementary products
  4.    firms producing unrelated products.
 Discuss Question
Answer: Option D. -> firms producing unrelated products.
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 215. Between 1990 and 1999 car ownership per thousand of the population fell in ?
  1.    Spain
  2.    Belgium
  3.    USA
  4.    UK
 Discuss Question
Answer: Option C. -> USA
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 216. Antimonopoly laws are based on the proposition that ?
  1.    increasing market power is the best way to achieve efficiency.
  2.    competition is the best way to achieve efficiency.
  3.    public ownership is the best way to achieve efficiency
  4.    regulation is the best way to achieve efficiency.
 Discuss Question
Answer: Option B. -> competition is the best way to achieve efficiency.
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 217. Sales staff are keen to sell extended warranties because ?
  1.    extended warranties offer value for money.
  2.    the cost of repair will usually exceed the cost of the warranty
  3.    they are paid commission on each extended warranty they sell.
  4.    They are concerned about customer satisfaction.
 Discuss Question
Answer: Option C. -> they are paid commission on each extended warranty they sell.
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 218. The external benefits of using cars are ____ and the external costs are _____?
  1.    low; low
  2.    high; high
  3.    low; high
  4.    high; low
 Discuss Question
Answer: Option C. -> low; high
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 219. In the country X it is now becoming possible to buy electricity from a gas company and gas from an electricity company. This is called ?
  1.    deregulation
  2.    making markets contestable
  3.    natural monopoly.
  4.    cross-subsidization.
 Discuss Question
Answer: Option B. -> making markets contestable
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 220. Economists use the term regulatory capture to mean a situation where the private sector firms being regulated ?
  1.    Persuade the regulator to operate in the industry’s interests
  2.    Persuade the regulator to act in the firms interests.
  3.    Bribe the regulator.
  4.    Persuade the government to change the regulatory regime.
 Discuss Question
Answer: Option A. -> Persuade the regulator to operate in the industry’s interests
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

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