# Microeconomics MCQs Quiz Multiple Choice Questions & Answers

## Test Your Skills in Microeconomics Quiz Online

Embark on a fascinating journey through the principles of Microeconomics with our comprehensive collection of multiple-choice questions and answers. Whether you're a student delving into economic theory, an academic researcher exploring market behavior, or a business professional analyzing individual consumer and firm decisions, our repository offers invaluable insights. Explore topics such as supply and demand, consumer behavior, production theory, market structures, and welfare economics. Each multiple-choice question is meticulously crafted to challenge your understanding and stimulate critical thinking about the fundamental principles governing individual economic units. From understanding the concept of opportunity cost to analyzing market equilibrium and externalities, our MCQs provide a comprehensive exploration of all facets of Microeconomics. Start exploring today to deepen your knowledge and gain insights into the intricate workings of individual economic decision-making!

1. Normally, the natural economy is characterized by:

2. The profit maximization condition for a firm in a market with monopolistic competition is the following (MR is marginal revenue, MC is marginal cost, P is price, ATC is average total cost, TR is total revenue):

3. Which of the following can be considered as the basic features of public goods:

4. Which of the following conditions indicate that a good is produced under perfect competition:

5. Which of the following features define human needs:

6. Which of the following solutions are not part of the ways of internalizing externalities:

7. Which of the following statements about monopoly is true:

8. An economic agent contracts a loan of 15.000 lei, which he will repay in three equal annual installments. What will be the total interest paid, knowing that the annual interest rate is 12% per year?

9. An economic agent makes a bank deposit of 10.000 lei with an interest rate of 5%. What will be the amount in the bank after 2 years, if the economic agent does not make withdrawals from the account created during this period?

10. Calculate the average fixed cost (AFC), for a level of production Q = 20, knowing that the total cost function is: TC = 200 + 3Q + 2Q2

11. Choose the false statement:

12. For a rational consumer who has to choose between two goods in the context of budget constraints, the price change of one of the goods, caeteris paribus, will determine:

13. If the coefficient of income elasticity of demand is higher than 1 and the revenue increases, the share of expenditures for commodity X in total expenditure:

14. If the demand curve for product A moves to the right, and the price of product B decreases, it can be concluded that

15. If the demand for agricultural products is inelastic:

16. On the market with perfect competition

17. Suppose the price of a good decreases by 10% and the quantity demanded for a certain period of time increases by 15%. In these conditions:

18. Suppose the supply for product A is perfectly elastic. If the demand for this product increases:

19. The following data is given for a company: material costs 89 mil; working capital 45 mil; indirect salaries 10 mil; fixed costs 90 mil.; variable costs 52 mil. Calculate fixed material costs and depreciation:

20. The indifference curve means:

21. The points located at the intersection of the budget line with the coordinate axes mean:

22. The price of the product A was reduced from 100 to 90 lei and, as a result, the quantity demanded has increased from 70 to 75 units. The demand is:

23. The total utility coincides with the marginal utility:

24. There are differences between monopolistic and perfect competition regarding:

25. Which of the following statements are false?

26. Which of the following statements is false: