第十一章测试1.
The marginal product of a factor is just the derivative of the production function with respect to the amount of this factor, holding the amounts of other factor inputs constant.
A:对 B:错
答案:A
2.
The weak axiom of profit maximizing behavior states that in a modern mixed economy, firms have only a weak incentive to maximize profits.
A:对 B:错 3.
A fixed factor is a factor of production that is used in fixed proportion to the level of output.
A:对 B:错 4.
A competitive firm produces output using three fixed factors and one variable factor. The firm's short run production function is , where x is the amount of variable factor used. The price of output is $3 per unit and the price of the variable factor is $9 per unit. In the short run, how many units of x should the firm use?
A:20 B:19 C:40 D:80 5.
A profit-maximizing competitive firm uses just one input, x. Its production function is q = 8x1/2. The price of output is 16 and the factor price is 8. The amount of the factor that the firm demands is:
A:48 B:22.63 C:10
D:64 6.Just as in the theory of utility maximizing consumers, the theory of profit maximizing firms allows the possibility of "Giffen factors". These are factors for which a fall in price leads to a fall in demand.
A:对 B:错 7.
The production function is given by F (L)=6L2/3 . Suppose that the cost per unit of labor is 12 and the price of output is 6, how many units of labor will the firm hire?
A:
4
B:8
C:24
D:16
8.When Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1-(N=200) bushels of corn. If the price of corn is $1 per bushel and the price of fertilizer is $0.40 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?A:240 B:64 C:248 D:120 9.
A competitive firm produces output using three fixed factors and one variable factor. The firm's short run production function is q=163x-2x2, where x is the amount of variable factor used. The price of output is $3 per unit and the price of the variable factor is $9 per unit. In the short run, how many units of x should the firm use?
A:
80
B:19
C:40
D:20
10.Which of the following is a short-run adjustment?
A:
The number of farms in the United States declines by 5 percent
B:A local bakery hires two additional bakers
C:BMW constructs a new assembly plant in South Carolina
D:Six new firms enter the plastics industry
