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Economics Mcqs 4423 MCQs [All-Courses]

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Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

All Topics  4423

A welfare loss occurs in monopoly where ?
A The price is greater than the marginal cost
B The price is greater than the marginal benefit
C The price is greater than the average revenue
D The price is greater than the marginal revenue
Correct Answer: The price is greater than the marginal cost
In monopoly which of the following is true ?
A There are many buyers and sellers
B There is one main buyer
C There is one main seller
D The actions of one firm do not affect the market price and quantity
Correct Answer: There is one main seller
Barriers to entry do not include ?
A Patents
B Internal economies of scale
C Mobility of resources
D High investment costs
Correct Answer: Mobility of resources
In monopoly when abnormal profits are made ?
A The price set is greater than the marginal cost
B The price is less than the average cost
C The average revenue equals the marginal cost
D Revenue equals total cost
Correct Answer: The price set is greater than the marginal cost
X inefficiency occurs when ?
A The price is greater than the marginal cost
B The price is greater than the average cost
C Costs are higher than they could be due to a lack of competitive pressure
D There are external cost
Correct Answer: Costs are higher than they could be due to a lack of competitive pressure
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