Multiple choice - select the correct answer and answer if it is true or false.

26- A fixed tax on a perfectly elastic product implies that the consumer is the one who ends up bearing the full burden of the tax.

False

True

27-

28- When a ceiling price is set, it implies that a price above it is illegal, but the market can set prices below the fixed price.

False

True

29- The minimum price concept is one of the possible government interventions in the market and it means that it is the price level at which a company must sell its product, which must be above the market equilibrium price.

False

True

30- The price cap concept is one of the possible government interventions in the market and means that it is the price level at which a company must sell its product, which must be below the market equilibrium price.

False

True

31-

32- The intersection of CPT = IMg is known as the point where:

a) There are no gains or losses.

b) The business should be closed

c) Loss is minimized

d) Profit is maximized

33- A minimum wage must be established above the market equilibrium wage to be effective.

False

True

34- If the intersection where IMg = CMg occurs below the CPT at that point:

a) The business must be closed.

b) There are no gains or losses

c) Loss is minimized

d) Profit is maximized

35- The minimum wage is the best example of the minimum price, which applies to all workers in the labor market.

Fake

True

36- The section of the marginal cost curve that is above the average variable costs in perfect competition is known as the curve of:

a) total income

b) offer

c) demand

d) total costs

37- In the market of _______ there are few sellers, so this condition does not show a relationship between the price and the quantity produced of a good.

a) Oligopoly

b) Monopoly

c) Perfect competition

d) Monopolistic competition

38- In the market in which a company is the exclusive seller of a product or and the entry of other companies is blocked, it is:

a) Oligopoly

b) Monopolistic competition

c) Monopoly

d) Perfect competition

39- The market where marginal income equals demand and market price is:

a) Monopolistic competition

b) Oligopoly

c) Monopoly

d) Perfect competition

40- Which of the following characteristics is not monopolistic competition of the market?

a) Power to segment the market

b) Market price control

c) Many producers and buyers

d) Standardized products

41- The market that is characterized by a large number of sellers who generate different products, and that the difference is the basis for the promotion and development of the products is:

a) Oligopoly

b) Perfect competition

c) Monopoly

d) Monopolistic competition

42- Operate at the equality of price and the minimum total average cost indicates that the company is using:

a) Allocative efficiency

b) Economic efficiency

c) The most efficient technology

d) Productive efficiency

43- The essential difference between a pure monopolist and a perfectly competitive seller are found in:

a) The market price

b) The supply side of the market

c) The quantity produced

d) The demand side of the market

44- In perfect competition, when the price is greater than the marginal cost, there is:

a) Efficient allocation

b) Productive allocation

c) Excessive allocation

d) Poor allocation

45- In the perfectly competitive market, productive efficiency and significant efficiency are achieved:

a) In the long term

b) When P = CMg

c) When P = CPT

d) In the short term

46- If the price increases by the total amount of the tax, the ____ pay the tax.

a) Producers

b) Suppliers

c) Competitors

d) Buyers

47- Since it must reduce the price to increase sales, the marginal income curve of an imperfectly competitive company is by:

a) Above its upward-sloping demand curve

b) Below your upward sloping demand curve

c) Below its downward-sloping demand curve

d) Above its downward-sloping demand curve

48- If the minimum wage is set above the equilibrium wage, the amount of work offered by workers is _______ to the amount demanded by employers.

a) Minor

b) Superior

c) Same

d) Lower

49- If the price of a product does not rise due to the established tax.

a) Sellers and consumers pay the tax

b) Sellers pay the tax

c) Suppliers pay the tax

d) Consumers pay the tax

50- A maximum price is a regulation that establishes that it is:

a) It is necessary to charge a price equal to the market equilibrium price

b) It is necessary to charge a price higher than the market equilibrium price

c) Illegal to charge a price higher than a specified level

d) Legal to charge a price higher than a specified level