第1題Economicsisthestudyofhowscarceresourcesareallocatedefficientlyamongdifferentuses.

第2題Microeconomicsstudiestheeconomyfromtheperspectiveofindividualagents,suchasconsumers,firms,governments,etc.

第3題Microeconomicsstudiestheoveralleconomy,suchasgrossdomesticproduct,economicgrowth,interestrates,unemployment,inflation,etc.

第4題Exogenousvariableisgeneratedwithinamodelandwhosevalueischangedbytheothervariablesinthatmodel.第5題IfanallocationisParetoefficient,tomakeanyonegetbetteroffwemustmakeanotheroneworseoff.

第6題Givenaninitialallocation,ifyoufindachangeinallocationcouldhelpatleastonepersonandharmsnoone,thechangeiscalledParetoimprovement.

第7題AnallocationisParetoefficientifitallowsParetoimprovement.

第8題Whichofthefollowingstatementsisanormativestatement?

AThegovernmentoughttotakesomemeasurestoreducetheunemploymentrate.BTheunemploymentrateisup1percentagepointfromayearago.CTheunemploymentrateiscurrentlyat6.5percent.DBasedonempiricaldata,thehighertherateofinflation,thelowertheunemploymentrate.第9題Whichofthefollowingstatementsisnotapositivestatement?AIncreasingpollutiontaxescanreducepollutionemissions.BBasedonempiricaldata,environmentalpollutionfirstrisesandthenfallswithpercapitaincome,presentinganinvertedU-shapedcurve.CTaxingairpollutionwillincreasethecostofmakingsteel.DAirpollutionisharmful,therefore,thegovernmentshouldincreasethetaxinordertoreducepollution.第10題Whatis?A.B.C.D.第11題Whatis?

A.B.C.D.第12題Whatis

A.B.C.D.第1題Ifutilityisgivenby,thentheperson’sMRSxyatthepointx=5,y=2isgivenby().A1B1.5C5D0.4第2題IfutilityisgivenbyU(x,y)=x+y,thentheperson’sMRSxyatthepointx=5,y=2isgivenby(

).A1B1.5C5D0.4第3題IfutilityisgivenbyU(x,y)=min{x,y},thentheperson’sMRSxyatthepointx=5,y=2isgivenby(

).A1B1.5C5D0第4題Ifutilityisgivenby,thentheperson’sMRSxyatthepointx=5,y=1isgivenby(

).A1B1.5C5D0.2第5題Whichofthefollowingutilityfunctionswouldnotbeconsistentwiththenotionthatxandyareboth“goods”withpositivemarginalutilities(ie.moreisbetter)?

A.B.C.D.第6題Whichofthefollowingutilityfunctionswouldbeconsistentwiththenotionthatpreferenceisstrictlyconvex(Hint:MRSxyisdiminishingasxincreases)?

A.BC.D.第7題Whichofthefollowingisnotanaxiomofconsumerpreference?

AReflexivityBCompletenessCConvexityDTransitivity第8題Whichofthefollowingisnotcorrect?

AIndifferencecurvesarenonintersecting.BIndifferencecurvesareshownconvextotheoriginwhenthepreferenceiswell-behaved.CIndifferencecurvesarenegativelyslopedwhenthepreferenceiswell-behaved.DTwoindifferencecurvescouldintersectwitheachotherifthepreferenceisnotwell-behaved.第9題AnindividualwhoseutilityfunctionisgivenbyU(x,y)=2x+y.Withthisutilityfunction,whichbundleprovidesthesameutilityasthebundle(2,4)?A(3,2).B(4,1).C(1,5).D(2,3).第10題Givenautilityfunction,theMRSofxforyis____ABCD第11題Anindifferencecurveshowsacombinationoftwogoodsthatgiveaconsumerequalsatisfactionandutilitytherebymakingtheconsumerindifferent.

第12題Applyingamonotonictransformationtotheutilityfunction

cancreateanotherutilityfunction

Thetwofunctions,

and,representthesamepreference.

第13題GivenU(A)=2,U(B)=1,accordingtoordinalutility,thisconsumergetstwiceasmuchutilityfromAasfromB.

第14題Inmicroeconomics,ifαisatleastaspreferredasβandβisatleastaspreferredasγ,thenαmustbeatleastaspreferredasγ.

第15題Allconsumptionbundlesonthesameindifferencecurveareequallypreferredfortheconsumer.

第16題Forawell-behavedpreference,aconsumptionbundleonahigherindifferencecurvemustbringlowerutilitylevel.

第17題Forawell-behavedpreference,theindifferencecurvesmustbepositivesloped.

第18題Forperfectsubstitutes,theindifferencecurvesmustbestraightlines.

第19題Thepropertiesforwell-behavedpreferencearemonotonicityandconcavity.

第20題IfAdaalwayswouldliketoadd1spoonofsugar(s)to1cupofcoffee(c),herutilityfunctioncouldbewrittenasU=min{s,c}.Unittest3第1題Youareconsumingtwogoods,hamburgersandsoftdrink.Atyourcurrentbundle,themarginalutilityyouwouldgainfromspendinganextradollaronhamburgersishigherthanthemarginalutilityyouwouldgainfromspendinganextradollaronsoftdrink.Whatshouldyoudo?

AItdependsonhowmuchincomeyouhave.BPurchasemorehamburgers.CPurchasemoresoftdrink.DDon'tchangeyourpurchases;youarealreadyconsumingtheoptimalbundle.第2題Supposethatatcurrentconsumptionlevelsanindividual’smarginalutilityofconsuminganextrahamburgeris10whereasthemarginalutilityofconsuminganextrasoftdrinkis2.ThentheMRS(ofsoftdrinksforhamburgers)—thatis,thenumberofhamburgerstheindividualiswillingtogiveuptogetonemoresoftdrink—isA5B2C0.5D0.2第3題Supposethepriceofhamburgeris20yuanperunit,andthepriceofsoftdrinkis5yuanperunit.Thentheopportunitycostofsoftdrinksforhamburgers—thatis,thenumberofhamburgerstheindividualhastogiveuptogetonemoresoftdrink—isA4B2C1/2D1/4第4題Ifanindividual’sutilityfunctionisgivenbyU(x,y)=lnx+lny,andpx=1,py=2,m=10,hispreferredconsumptionbundleis

A(5,2.5)B(5,5)C(2.5,5)D(10,5)第5題IfutilityisgivenbyU(x,y)=x+yandpx=2,py=3,I=50,thisperson’soptimalchoiceisA(10,10).B(15,6.67).C(25,0).D(0,50/3).第6題IfutilityisgivenbyU(x,y)=min{x,y}andpx=2,py=3,I=50,thisperson’soptimalchoiceisA(10,10).B(15,6.67).C(25,0).D(0,50/3).第7題Ifanindividual’sindifferencecurvemapdoesnotobeytheassumptionofadiminishingMRS,thentangenciesofindifferencecurvestothebudgetconstraintmaynotbepointsofutilitymaximization.

第8題Ifthepriceofxfalls,thebudgetconstraintrotatesoutwardaboutthey?intercept.

第9題Ifthepriceofxfalls,thebudgetconstraintrotatesinwardandtheconsumergetsworseoff.

第10題Ifthepriceofyfalls,thebudgetconstraintrotatesoutwardandtheconsumercannotgetworseoff.

第11題Ifconsumer'sincomefalls,thebudgetconstraintrotatesoutwardandtheconsumercannotgetworseoff.

第12題Ifconsumer'sincomefallswhilethepricesofcommoditieskeepconstant,thebudgetconstraintshiftsinwardparallellyandtheconsumergetbetteroff.

第13題Ifconsumer'sincomeincreaseswhilethepricesofcommoditieskeepconstant,thebudgetconstraintshiftsoutwardparallellyandtheconsumercannotgetworseoff.

第14題Iftheinteriorsolutionexists,consumer'soptimalchoiceshouldsatisfyPx/Py=MUx/MUy.

第15題WhenPx/Py>MUx/MUy,theconsumercanincreasetheutilitylevelbyincreasingtheconsumptioningoodx.

第16題WhenPx/Py<MUx/MUy,theconsumercanincreasetheutilitylevelbydecreasingtheconsumptioningoody.

Unittest4第1題Ifanindividual’sutilityfunctionisgivenbyU(x,y)=xy,px=1,py=4,andincomeI=100,herpreferredconsumptionbundleisA(x*,y*)=(50,12.5)B(x*,y*)=(12.5,50)C(x*,y*)=(25,50)D(x*,y*)=(50,25)第2題Regardlessofherincomeandregardlessofprices,Amyalwaysspends45%ofherincomeonclothingandfood,15%ontransportation,and40%onentertainment.ThisbehaviorisconsistentwiththefollowingAAllgoodsareperfectsubstitutes.BAmy'sdemandsforcommoditiesdonotchangewhentheirpriceschange.CAmyconsumesallgoodsinfixedproportions.DAmyhasaCobb-Douglasutilityfunction.第3題IfthepriceofagoodXincreases,thefollowingcanbesaidabouttheincomeandsubstitutioneffectsofthepriceincreaseonthedemandforX:

ATheformerisalwayspositiveandthelatterisalwaysnegative.BBothcanbeeitherpositiveornegative.CWhilethelatterisalwaysnegative,theformercanbeeitherpositiveornegative.DWhiletheformerisalwaysnegative,thelattercanbeeitherpositiveornegative.第4題Smithconsumestwogoods,xandy.Ifthepriceofgoodxincreasesandhissubstitutionandincomeeffectschangedemandinsamedirection:

AgoodxmustbeaGiffengood.BgoodxmustbeaninferiorgoodCgoodxmustbeanormalgoodDthereisnotenoughinformationtojudgewhethergood第5題Mary's

utilityfunctionisU(x,y)=4lnx+y.Givenhercurrentincomeandthe

currentrelativeprices,sheconsumes20unitsofxand15unitsof

y.Ifherincomedoubles,whilepricesstayconstant,howmanyunits

ofxwillsheconsumeafterthechangeinincome?

A20B30C40DThereisnotenoughinformationtodeterminehowmuch.第6題Will

unexpectedlyinherits$50,000fromarichuncle.Heisobservedto

consumefewerhamburgersthanheusedto.Weconcludethat:

AHamburgerisaGiffengoodforWill.BHamburgerisanormalgoodforWill.CHamburgerisaninferiorgoodforWill.DWill'sEngelcurveforhamburgersisvertical.第7題

Prudencewasmaximizingherutilitysubjecttoherbudgetconstraint.Thenpriceschanged.Afterthepricechangesheisbetteroff.Therefore,thenewbundlecostsmoreattheoldpricesthantheoldbundledid.

第8題

Dean'sutilityfunctionisU(x;y)=x+y0.5.Currentlyheisbuyingsomeofbothgoods.Ifhisincomerisesandpricesdon'tchange,hewillbuymoreofbothgoods.(Hint:Dean's

utilityfunctionisaquasilinearutilityfunction.)

第9題

IfthedemandforXdecreasesasitspricedecreases,itviolatesthelawofdemand.

第10題

EngelcurveforgoodXreflectstherelationshipbetweenthedemandquantityofgoodxanditsownprice.

第11題

Incomeoffercurveshowsthetraceofconsumer’soptimalbundlesasincomechanges.

第12題

Priceoffercurveshowshowtheconsumer’soptimalbundlesmoveaspricechanges.

第13題

Forthehomotheticpreference,theMRSdependsonlyontheratioofthequantitiesofthetwogoods.

第14題

Anormalgoodmustbeanordinarygood.

第15題

AninferiorgoodmustbeaGiffengood.

第16題

Thequantitydemandedforanormalgoodriseswithincomedecrease,whilethequantitydemandedforaninferiorgoodfallswithincomedecrease.

第17題Simonconsumestwogoods,XandY.IfthepriceofgoodXincreasesandhisdemandforXincreases,AgoodXmustbeaGiffengood.BgoodXmustbeanordinarygood.CgoodXmustbeanormalgood.DthereisnotenoughinformationtojudgewhethergoodXisanormalorinferiorgood.第18題Robert'sutilityfunctionisU(x,y)=xy.Thepriceofxis3andthepriceofyis1.Ifwedrawxonhorizontalaxis,andyonverticalaxis.Robert'sincomeoffercurveisAarayfromtheoriginwithaslopeof3BalineparalleltothexaxisCthesameashisEngelcurveforxDnoneoftheaboveUnittest5第1題Albinhasquasilinearpreferencesandhelovespretzels.Hisinversedemandfunctionforpretzelsisp(x)=49-6x;wherexisthenumberofpretzelsthatheconsumes.Heiscurrentlyconsuming8pretzelsatapriceof1perpretzel.Ifthepriceofpretzelsrisesto7perpretzel,thechangeinAlbin'sconsumersurplusis

A-90.B-56.C-42.D-45.第2題Theinversedemandfunctionforvideogamesisp=240-2qandtheinversesupplyisp=3+q.Whenthegovernmentimposesa6taxoneachvideogamepurchasedAbothconsumers'surplusandproducers'surplusfall.Bbothconsumers'surplusandproducers'surplusincrease.Cconsumers'surplusincreasesandproducers'surplusfalls.Dconsumers'surplusfallsandproducers'surplusincreases.第3題GivenademandfunctionQ=100-5P,whatisthepriceelasticityofdemandattheprice10?

A-1B-25C-0.2D-10

第4題Market

demandfunctionisQd=100-2P.Whatistheconsumersurpluswhen

marketpriceP=20?

A900B450C1800D600第5題IfthedemandcurveisgivenbyQ=100-2Pandthepriceprevailinginthemarketis10,thentheownpriceelasticityofdemandisA-1/8B-1/4C-2D-4第6題SallyhasquasilinearpreferencesandherdemandfunctionforxisD(p)=15-p/3.Thepriceofxisinitially15perunitandincreasesto24perunit.Sally'schangeisconsumersurplusisA153B76.5C147D75第7題Thedemandformilkisgivenbywherepisthepriceofmilk.Ifthepriceofmilkis1,thenthepriceelasticityofdemandformilkisA-1B-2C-3D-4第8題Thedemandforpicklesisgivenbyp=82-2qandsupplyisgivenbyp=2+2q.Whatistheequilibriumquantity?

A17B20C25D42第9題Theinversedemandforeggsisp=61-3qwhereqisthenumberofcasesofeggs.Theinversesupplyisp=7+6q.Inthepast,eggswerenottaxed,butnowataxof36dollarspercasehasbeenintroduced.Whatistheeffectofthetaxonthequantityofeggssupplied?

AQuantitydropsby3cases.BQuantitydropsby4cases.CQuantitydropsby8cases.DQuantitydropsby5cases.第10題If

a2percentincreaseinpriceleadstoa1percentdecreasein

quantitydemanded,thedemandcurveisAelastic.Binelastic.Cunitelastic.Dperfectlyinelastic.第11題Iftheelasticityofdemandcurveforbuckwheatis-0.75atallpriceshigherthanthecurrentprice,wewouldexpectthatwhenbadweatherreducesthesizeofthebuckwheatcrop,totalrevenueofbuckwheatproducerswillrise.

第12題Consideralineardemandcurve,Q=350-7P.

ThedemandwillbeunitaryelasticwhenmarketpriceP=25.第13題Shopscanusesalespromotionstoincreaserevenuewhenpriceelasticityofdemandiselastic.

第14題Shopscanusesalespromotionstoincreaserevenuewhenpriceelasticityofdemandisinelastic.

第15題Thecompensatingvariationinincomefromataxistheamountofextraincomethataconsumer

wouldneedinordertobeaswelloffafterthetaxisimposedashewasoriginally.

第16題Theimpositionofaquantitytaxwillnotresultinanydeadweightlosswhenthedemandcurveisperfectlyelastic.

第17題Theimpositionofaquantitytaxwillnotresultinanydeadweightlosswhenthesupplycurveisperfectlyinelastic.

第18題

If

a3percentincreaseinpriceleadstoa3percentdecreasein

quantitydemanded,thedemandcurveisperfectlyinelastic.

Unittest6第1題Whichofthefollowingstatementaboutisoquantcurveisnottrue?AItrepresentsallcombinationsofthetwoproductionfactorstoproduceacertainamountofoutputlevel,giventhecurrenttechnicallevel.BDifferentisoquantcurverepresentsdifferentoutputlevel.CThefarthertheisoquantcurveisfromtheorigin,thelowertheoutputlevel.DItusuallyhasnegativeslope.第2題Whichofthefollowingisapropertyofwell-behavedisoquantcurves?AIsoquantcurvesusuallyintersect.BIsoquantcurveshavepositiveslopes.CIsoquantcurvesaredownwardslopingandalwayslinear.DIsoquantcurvesarebowedintowardtheorigin.第3題Marginalproductoflaboris____.AtheadditionaloutputthatcanbeproducedbyemployingonemoreunitoflaborwhileholdingotherinputsconstantBisincreasinginlaborCisalwaysnegativeDisalwayspositive第4題Whichofthefollowingproductionfunctionshowsconstantreturnstoscale?

ABCD第5題Supposetheproductionfunctionforgoodyisgivenbyy=3k+2l,wherekandlarecapitalandlaborinputs.Whichofthefollowingstatementsistrue?AThefunctionexhibitsincreasingreturnstoscale.BThefunctionexhibitsdiminishingmarginalproductivitiestoallinputs.CThefunctionexhibitsdiminishingmarginalproductivitiestolabor.

DThefunctionhasaconstantrateoftechnicalsubstitution.第6題Afirmhasproductionfunction,whichofthefollowingstatementisnottrue?AMarginalproductoflaborisdecreasinginBMarginalproductofcapitalisdecreasinginCThefunctionexhibitsconstantreturnstoscale.DTheTRSisconstantalongtheisoquantcurve.第7題AfirmhasproductionfunctionY(K,L)=4K+2L,thenthetechnicalrateofsubstitutionof(KforL)is____.A2B1/2C1D4第8題Theproductionfunctionofamanufactureris.SupposethatthehorizontalaxisrepresentsthenumberoffactorLandtheverticalaxisrepresentsthenumberoffactorK,thentheslopeoftheisoquantcurveatthefactorbundle(L,K)=(40,20)is____.(Hint:itisequaltothenegativeoftechnicalrateofsubstitution).A-3B-6C-1/3D-1/6第9題Theproductionfunctionexhibits____.AconstantreturnstoscaleandconstantmarginalproductivitiesforKandL.BdiminishingreturnstoscaleanddiminishingmarginalproductivitiesforKandL.CconstantreturnstoscaleanddiminishingmarginalproductivitiesforKandL.DdiminishingreturnstoscaleandconstantmarginalproductivitiesforKandL.第10題

Theproductionfunctionrepresentsthemaximumoutputlevelsthatafirmcanproduceforaninputbundle.

第11題

Thelawofdiminishingmarginalproductreferstothefactthatasthequantityofinputofonefactorincreases(holdingotherinputlevelsconstant),themarginalproductofthatfactorofproductionmusteventuallydecrease.

第12題

Afirmcouldnothavediminishingmarginalproductandincreasingreturnstoscaleatthesametime.

第13題

Monotonicityandconvexityarethetwocharacteristicsofawell-behavedproductiontechnology.

第14題

Ifafirm'soutputincreasesinthesameproportionasallinputfactors,thefirm'sproductionfunctionexhibitsincreasingreturntoscale.

第15題

Addingmoreandmorelaborintoproductionprocesswoulddefinitelyleadtoincreasingmarginalproductduetospecializationoflabor.

第16題

Anisoquantcurveconvextowardtheoriginhasadecreasingtechnicalrateofsubstitutionaswemovealongtheisoquantcurvetotheright.

第17題

TRS(technicalrateofsubstitution)canbemeasuredbytheslopeoftheisoquantcurve.

第18題

Iftheproductionfunctionis,thenthereareconstantreturnstoscale.

第19題

Cobb-Douglasproductionfunctionisoneexampleofperfectsubstitutetechnology.

第20題

Ifthemarginalproductofeachfactordecreasesastheamountofthatfactorusedincreases,thentheremustbedecreasingreturnstoscale.

Unittest7第1題Afirm’seconomicprofitsaregivenby____.Atotalrevenueminustotalaccountingcost.Btheowner’sopportunitycost.Ctotalrevenueminustotaleconomiccost.Dtotalrevenueminusthecostofcapital.第2題Ingeneral,whichofthefollowingisnotashort-termvariablecost?

AExpensesforbuildingthefactoryBSalariesofworkersCFuelcostDProductpackagingcost第3題Thelong-termaveragecostcurveslopesdownwardbecause____.ALawofdiminishingmarginalreturnsBLawofincreasingmarginalreturnsCEconomiesofscaleDDiseconomiesofscale第4題WhichofthefollowingstatementistrueaboutACandMCcurveintheshortrun?

AACcurveisdecreasingwhenMC>ACBACcurveisdecreasingwhenMC<ACCACcurveisincreasingwhenMC<ACDACishighestwhenMC=AC第5題Afirmhasproductionfunction,whereKandLaretheinputlevelofcapitalandlabor.Supposethepriceofcapitalis6andthepriceoflaboris12,thecostminimizingproductionarrangementshouldbe____.AK/L=1.BK/L=1/6.CK/L=6.DK/L=12.第6題Ashoemanufacturerhasproductionfunction,whereKandLaretheinputlevelofcapitalandlabor.Supposethepriceofcapitalis6andthepriceoflaboris12,inordertoproduce100pairsofshoes,thecostminimizationinputchoiceshouldbe____.AL=100,K=0BL=K=50CL=100/3,K=200/3DL=0,K=100第7題

Inmicroeconomics,theshorttermusuallymeansaweekoramonth,andthelongtermmeansayearormore.

第8題

Theownerofagrocerystoreworksinherstoreandhiresnoemployee,thentheeconomiccostoflaboriszero.

第9題

Iffirmsinanindustryenjoypositiveprofits,otherfirmswouldliketoenterthismarket.

第10題

Iffirmsinanindustryendureseconomiclosses,otherfirmswouldliketoenterthismarket.

第11題

Iffirmsinanindustryearnzeroprofit,otherfirmswouldliketoenterthismarket.

第12題

Opportunitycostistheout-of-pocketexpenditurethataproducermustpaytoobtaintherighttousevariousfactorsofproduction.

第13題

Totalcostshowsthatforanysetofinputpricesandforanyoutputlevel,themaximumcostincurredbythefirm.

第14題

Theexpansionpathshowsthecombinationsofinputlevelsofcost-minimizingtangenciesateveryoutputlevel.

第15題

Shortrunaveragecostcurvemusteventuallyincreasebecauseaveragevariablecosteventuallyincreases.

第16題

MCandACintersectatthelowestpointoftheMCcurve.

第17題

MCistheslopeofboththevariablecostandthetotalcostfunctions.

第18題

Longruntotalcostisthelowerenvelopeofallshortruntotalcostcurves.

第19題

Inthelongrun,firmhasnofixedcosts.

第20題

Economiesofscaleoccurswhenlong-runaveragetotalcostdeclinesasoutputdecreases.

第21題

Averagefixedcostsisconstantregardlessoftheoutputlevel.

第22題Ashoefactoryusestwofactorsoflabor(L)andcapital(K)forproduction.Thepriceoflaborisw,andthepriceofunitcapitalisr.Iftheshoefactorywantstoproduce100pairsofshoesattheminimumcost,itshould

AusethesameamountofLandK.B

produceatTRS(LforK)=w/r.Calwaysusemorelaborthancapital.D

producewherethemarginalproductofthefactorsoflaborandcapitalarethesame.Unittest8第1題SupposeafarmerisapricetakerforsoybeansaleswithcostfunctionsgivenbyTC=0.1q2+2q+30.

IfP=6,whatistheprofit-maximizinglevelofoutput?A10B20C30D40第2題EachfirminacompetitivemarkethasatotalcostfunctionofTC=4+10q+16.Whatwillbetheequilibriumpriceinthelongrun?

A2B56C26D19第3題EachfirminacompetitivemarkethasatotalcostfunctionofTC=4+10q+16.Whatwillbetheequilibriumquantityofafirminthelongrun?

A2B56C26D19第4題Whichofthefollowingisnotafeatureofperfectlycompetitivemarket?

ATherearealargenumberoffirmsintheindustry.BFirmsproduceverydifferentproducts.CTherearenobarrierstoentryinthismarket.DFirmscouldearnpositiveprofitintheshortrun.第5題Becausethegoodsofferedforsaleinacompetitivemarketarelargelythesame,____.ATherewillbefewsellersinthemarket.BTherewillbefewbuyersinthemarket.CBuyerswillhavemarketpower.DSellerswillhavelittlereasontochargelessthanthegoingmarketprice.第6題Whenafirminacompetitivemarketproduces10unitsofoutput,ithasamarginalrevenueof8.00.Whatwouldbethefirm’stotalrevenuewhenitproduces6unitsofoutput?

A4.80B6.00C48.00D60.00第7題Ifafirminacompetitivemarketreducesitsoutputby20percent,thenasaresultthepriceofitsoutputislikelyto____.Aincrease.Bremainunchanged.Cdecreasebylessthan20percent.Ddecreasebymorethan20percent.第8題Foracompetitivefirm,____.ATotalrevenue=Averagerevenue.BTotalrevenue=Marginalrevenue.CTotalcost=Marginalrevenue.DAveragerevenue=Marginalrevenue.第9題Ifnewfirmswouldliketoenteracompetitivemarket,existingfirmsinthatmarketmusthavefound____.Atotalrevenueexceedsfixedcosts.Btotalrevenueexceedstotalvariablecosts.Caveragetotalcostexceedsaveragerevenue.Dpriceexceedsaveragetotalcost.第10題

Firmsintheperfectlycompetitiveindustryearnzeroprofitinthelongrun.

第11題

Firmsintheperfectlycompetitiveindustrymustearnzeroprofitintheshortrun.

第12題

Inperfectlycompetitivemarkets,bothfirmsandconsumersarepricetakers.

第13題

Demandcurvefacedbyanindividualfirminaperfectlycompetitivemarketisahorizontalline.

第14題

Shut-downisalong-rundecisionforfirminaperfectlycompetitivemarket.

第15題

Fromtheperspectiveoffirm,shut-downisdifferentfromexit.

第16題

Afirm’slong-runsupplycurveisusuallylesselasticthanitsshort-runsupplycurve.

第17題

Industrysupplycurveisahorizontalsumofallfirms'supplycurve.

第18題

Ifallfirmsinaperfectlycompetitivemarkethavepositiveeconomicprofits,morefirmswillenterthisindustry.

第19題Industrysupplycurveisaverticalsumofallfirms'supplycurve.

Unittest9第1題Amonopolistfacesthefollowingdemandcurve:P=100–2Q.Thefirm’stotalcostfunctionisgivenbyC=40Q+250.Whatisprofitmaximizingquantityforthismonopolist?A15B20C30D40第2題Amonopoly’smarginalcostwill____.Abelessthanitsaveragefixedcost.Bbelessthanthepriceperunitofitsproduct.Cexceeditsmarginalrevenue.Dequalitsaveragetotalcost.第3題Whichofthefollowingstatementsiscorrect?AAcompetitivefirmisapricemakerandamonopolyisapricetaker.BAcompetitivefirmisapricetakerandamonopolyisapricemaker.CBothcompetitivefirmsandmonopoliesarepricetakers.

DBothcompetitivefirmsandmonopoliesarepricemakers.第4題Whichofthefollowingisanexampleofabarriertoentry?AAkeyresourceisownedbya

singlefirm.BThecostsofproductionmakeasingleproducermoreefficientthanalargenumberofproducers.CThegovernmenthasgiventheexistingmonopolytheexclusiverighttoproducethegood.DAlloftheabove第5題Anaturalmonopolyoccurswhen____.Atheproductissoldinitsnaturalstate(suchaswaterordiamonds).Bthefirmischaracterizedbyarisingmarginalcostcurve.Cthereareeconomiesofscaleovertherelevantrangeofoutput.Dproductionrequirestheuseoffreenaturalresources,suchaswaterorair.第6題Themarketdemandcurveforamonopolististypically____.Aunitaryelasticatthepointofprofitmaximization.Bdownwardsloping.Chorizontal.Dvertical.第7題Foraprofit-maximizingmonopolist,____.AP>MR=MC.BP=MR=MC.CP>MR>MC.DMR<MC<P第8題Theinefficiencyofadeadweightlossstemsfromthefactthat____.Ahighmonopolypricestakemoneyfromconsumers’pocketsandputitinthepocketofthemonopolyowners.Bconsumerswhostillbuytheproductatthehighpriceareworseoffthantheywouldbeiftheypaidalowerprice.Cconsumersbuyfewerunitsduetothemonopolyprice,whichexceedsthesocially-optimalprice.DNoneoftheaboveiscorrect.第9題Thepracticeofsellingthesamegoodstodifferentcustomersatdifferentprices,butwiththesamemarginalcost,isknownas____.Apricesegregation.Bpricediscrimination.Carbitrage.Dmonopolypricing.第10題Ifoneweretocompareacompetitivemarkettoamonopolythatengagesinperfectpricediscrimination,onecouldsaythat____.Ainbothcases,totalsocialwelfareisthesame.Btotalsocialwelfareismaximizedinthecompetitivemarket,butnotintheperfectlydiscriminatingmonopoly.Cinbothcases,somepotentiallymutuallybeneficialtradesdonotoccur.Dconsumersurplusisthesameinbothcases.第11題Ifamonopolistengagesinthree-degreepricediscriminationintwosegmentedmarkets,butthefirm'scostfunctionisthesameinbothmarkets,inwhichmarketwillthefirmsetahigherprice?

AThelargermarketintermsofmarketsizeBThesmallermarketintermsofmarketsizeCThemarketwithmoreelasticdemandDThemarketwithlesselasticdemand第12題

Profit-maximizingmonopolistsetsapriceequaltothemarginalcost.

第13題

A