2021–2022 Dönem Sonu Sınavı Çıkmış Soruları

1. What would be the effect of a decrease in production costs as a result a technological innovation and/or an increase in the number of firms, i.e., new firms entering the industry in the long run, on the market supply curve? A) These changes will have no effect on the market supply curve B) These changes make the market supply curve negatively sloped C) These changes shift the market supply curve leftward D) These changes shift the market supply curve rightward E) These changes cause a movement along the market supply curve

2. If, from a position of stable equilibrium, the market supply of a product decreases while the market demand remains unchanged, -- Which of the following completes the sentence above? A) the equilibrium quantity rises B) the equilibrium price rises but the equilibrium quantity falls C) the equilibrium price falls D) the equilibrium price falls but the equilibrium quantity rises E) both the equilibrium price and the equilibrium quantity decrease

"--- is what a person has to give up to get a desired item or to achieve a desired outcome." Which of the following completes the sentence above? A) scarcity B) equity C) satisfaction D) opportunity cost E) externality

4. In the long run all of a firm's costs are variable. In this case the exit criterion (firm leaves industry) for a profit maximizing firm is -- Which of the following completes the sentence above? A) Price > Average Variable Cost B) Price = Average Variable Cost C) Average Revenue > Average Fixed Cost D) Price < Average Variable Cost E) Average Revenue > Marginal Cost

5. Which of the following is not among the main factors determining labor supply? A) Wage B) Changes in population C) Price D) Changes in tastes of workers E) Opportunities in other labor markets