A. externality
B. market imperfection
C. deadweight burden
D. free rider
A. public transport
B. the national health service
C. national defence
D. rail transport
A good example of a public good is ? Read More »
Economics Mcqs, Market A. imperfect competition
B. taxation
C. externalities
D. missing markets
E. all of the above
Market failure may arise because of ? Read More »
Economics Mcqs, Market A. a production externality
B. a second-best solution
C. transaction costs
D. a consumption externality
A. Producers are price takers
B. consumers and producers face the same prices
C. marginal costs and benefits are equal
D. prices equal marginal cost and benefit
E. All of the above
A competitive equilibrium is Pareto-efficient because ? Read More »
Economics Mcqs, Market A. moral hazard
B. risk aversion
C. adverse selection
D. a poor gamble
A. Assuming other players move first
B. dominated by the other players
C. given the strategies of other players
D. that is a credible threat
In Nash equilibrium each player chooses the best strategy ? Read More »
Economics Mcqs, Market A. behave like competitive firms
B. agree to act together
C. differentiate their products
D. practice price discrimination
A. monopolistic competition
B. oligopoly
C. monopoly
D. unfair competition
All of the following are types of imperfect competition except ? Read More »
Economics Mcqs, Market A. Negative externalies
B. Positive externalities
C. Monopolies
D. Oligopolies
Which of the following is the government most likely to subsidies ? Read More »
Economics Mcqs, Market