Controls On Prices MCQ with Answers PDF Download – Test 48

MCQ 236: Price ceiling is good but it becomes the problem when prices are set:

1. above the equilibrium
2. at equilibrium
3. below the equilibrium
4. itself

MCQ 237: One of the reason that can cause deadweight loss because it discourages the idea of trade is known to be as:

1. inequality
2. tax
3. social issues
4. trade issues

MCQ 238: Mrs. John operates a business in a competitive market. The current market price is $7.50. At her profit-maximizing level of production, the average variable cost is $8.00, and the average total cost is $8.25. Mrs. Smith should?

1. continue to operate in the short run but shut down in the long run
2. shut down in both the short run and long run
3. shut down her business in the short run but continue to operate in the long run
4. continue to operate in both the short run and long run

MCQ 239: An economy in which there are economic activities between the domestic community and outside is known as:

1. open economy
2. closed economy
3. mixed economy
4. upgraded economy

MCQ 240: The decisions of a worker is distracted when their wages are being:

1. equal
2. taxed
3. unequal
4. zero