1.In the long run, a monopolistic competitor
A:produces where P=AC
B:earns zero profit
C:sets MR=MC
D:sets P>MC
答案:AI参考:正确选项是【C:sets MR=MC】。\n\n长期来看，垄断竞争者会根据边际收益（MR）等于边际成本（MC）来决定生产决策，即设定MR=MC。这意味着垄断竞争者会在保证利润的同时，综合考虑市场需求和生产成本，以实现利润最大化。其他选项中，A选项“produces where P=AC”意味着垄断竞争者会在成本效益平衡点进行生产，但这不一定是最优选择；B选项“earns zero profit”意味着利润为零，这可能不是垄断竞争者所追求的目标；D选项“sets P>MC”意味着价格高于边际成本，但这并不一定符合长期利润最大化的原则。因此，C选项“sets MR=MC”是长期最优生产决策的正确选择。'
2.Monopolistic competition and perfect competition differ because
A:only competitive firms take the price as given.
B:only monopolistic competition allows for entry of other firms in the long run.
C:only monopolistically competitive firms will set MR = MC.
D:only perfectly competitive firms will set MR = MC.
答案:only competitive firms take the price as given
3.In the late 1980s, the health benefits of oat bran were widely advertised. If the price of oats increased 50%, causing the quantity of oats supplied to increase by 40%, then the price elasticity of supply was
A:-1.25.
B:-0.80.
C:0.80.
D:1.25.
答案:0.80
4.A movement upward along an upward sloping Engel curve corresponds to
A:crossing indifference curves.
B:a rotation in the budget constraint.
C:upward sloping indifference curves.
D:a parallel shift in the budget constraint.
答案:a parallel shift in the budget constraint
5.Both Sally and Sam receive a 10% raise in a single year. Sally increases her demand for ground beef whereas Sam decreases his demand for ground beef.
A:This is impossible.
B:This is only possible if Sally has lower income than Sam.
C:This is only possible if Sally considers ground beef a normal good and Sam views it as an inferior good.
D:This is only possible if Sally considers ground beef an inferior good, and Sam views it as a normal good.
答案:This is only possible if Sally considers ground beef a normal good and Sam views it as an inferior good
6.Peter's income increases and so does his consumption of both movies and pop, but his consumption of pop increases by less than his consumption of movies increases. Which one of the following statements is true for Peter?
A:A movie is an inferior good; pop is an inferior good.
B:A movie is an inferior good; pop is a normal good.
C:A movie is a normal good; pop is an inferior good.
D:A movie is a normal good; we cannot tell whether pop is a normal good or an inferior good.
E:Movies and pop are both normal goods.
答案:Movies and pop are both normal goods
7.Utility is the set of numerical values that
A:describes how much more a consumer prefers one bundle to another.
B:yields an absolute level of pleasure from a bundle of goods.
C:yields a cardinal ranking of bundles.
D:reflects the relative ranking of various bundles of goods.
答案:reflects the relative ranking of various bundles of goods
8.Assume baseball player salaries are fully determined before the season starts. From the point of view of the baseball team owner, player salaries during the course of the season are then
A:average costs.
B:variable costs.
C:fixed costs.
D:marginal costs.
答案:fixed costs
9.Suppose MPL = 0.5 ∗ (q/L) and MPK = 0.5 ∗ (q/K). In the long run, the firm will hire equal amounts of capital and labor
A:at no point in time.
B:only when w = r.
C:only when w = 0.5 ∗ r.
D:all of the time.
答案:only when w = r
10.Suppose a monopoly's inverse demand curve is P = 100 -Q, it produces a product with a constant marginal cost of 20, and it has no fixed costs. Compared to the consumer surplus if the market were perfectly competitive, consumer surplus is how much less when the monopolist practices perfect price discrimination?
A:800
B:1600
C:0
D:3200
答案:3200
11.If consumers are identical, then
A:price discrimination is impossible.
B:price discrimination can occur if each consumer has a downward-sloping demand curve for the product
C:perfect price discrimination is the only form of price discrimination that can increase a monopoly's profit.
D:tie-in sales cannot increase a monopoly's profit.
A:capital equipment is doubled. B:all inputs increase proportionately. C:specialization improves. D:labor increases holding all other inputs fixed. 13.The steeper the labor supply curve,
A:the lower the wage the monopsonist pays. B:the higher the wage the monopsonist pays. C:the better off workers are. D:the smaller the difference between the wage and the marginal expenditure on labor. 14.When the price of a good changes, the substitution effect can be found by comparing the equilibrium quantities purchased
A:on the new budget line and a hypothetical budget line that is a shift back to the original indifference curve parallel to the new budget line. B:on the new indifference curve. C:on the original indifference curve when faced with the original prices and when faced with the new prices. D:on the old budget line and the new budget line. 15.If both prices decreases by 50%,
A:slope of the budget constraint will increase. B:budget constraint will be unchanged. C:slope of the budget constraint will decrease. D:budget constraint will shift outward in a parallel fashion. 16.The labor supply curve for a monopsony is
A:perfectly vertical. B:downward sloping. C:upward sloping but not perfectly vertical. D:perfectly horizontal. 17.A technological improvement is represented by
A:a point inside the production possibilities frontier. B:a movement along the production possibilities frontier. C:a movement from a point inside the production possibilities frontier to a point on the production possibilities frontier. D:an outward shift of the production possibilities frontier. E:a point outside the production possibilities frontier. 18.Quotas, such as limiting the amount of residential water use during a drought, restricts an individual's preference set and
A:increases utility because quotas restrict output and raise profits for the water company. B:reduces utility because an individual cannot consume as much as they would without the quota. C:reduces utility because an individual is forced to substitute to other goods. D:does not affect overall utility. 19.A monopsonist faces an upward-sloping labor supply curve. This means that his marginal expenditures on labor are
A:greater than the wage. B:equal to the wage plus the increase in the wage resulting from hiring one more unit of labor hired. C:All of the above. D:greater than the wage because hiring more workers requires to pay all workers more. 20.Suppose a monopolistically competitive industry evolved into a perfectly competitive industry. Which of the following statements is correct?
A:The industry would produce at decreasing returns to scale. B:Elasticity of demand for the firm's product would remain the same after this change occurred C:This industry would produce the same level of output at lower prices in the long run than before the change. D:The industry would produce more output and charge a lower price after the change. 21.According to the Law of Demand, the demand curve for a good will
A:slope downward. B:slope upward. C:shift leftward when the price of the good increases. D:shift rightward when the price of the good increases. 22.A perfect-price-discriminating monopoly's marginal revenue curve
A:is the demand curve. B:varies for each consumer. C:is the same as the monopolist's marginal revenue curve. D:lies below the demand curve. 23.Economic costs of an input include
A:only explicit costs. B:only implicit costs. C:whatever management wishes to report to the shareholders. D:both implicit and explicit costs. 24.Suppose the short-run production function is q = 10 ∗ L. If the wage rate is $10 per unit of labor, then MC equals
A:q/10. B:10/q. C:q. D:1 25.The slope of an isoquant tells us
A:how much output increases when both inputs are increased. B:the decrease in capital necessary to keep MPL constant when labor increases by one unit. C:the increase in MPL when capital increases. D:the decrease in capital necessary to keep output constant when labor increases by one unit. 26.The slope of the total product curve always equals
A:the change in input divided by the change in output. B:the ratio of the marginal product and the average product. C:the marginal product of the input. D:the average product of the input. 27.What is marginal utility?
A:the change in the price of a good divided by the change in total utility B:the additional satisfaction received from consuming one more unit of a good C:the change in total utility divided by the price of a good D:the total satisfaction received from consuming as much of the good that is available for consumption E:the maximum amount of satisfaction from consuming a good 28.What are players’ strategies?
A:player 1’s strategies are: aa, ab, ba, bb; player 2’s strategies are x, y B:player 1’s strategies are: aa, ab, ba, bb; player 2’s strategies are xx, xy, yx, yy C:player 1’s strategies are: a, b; player 2’s strategies are x, y D:Player 1’s strategies are: a, b; player 2’s strategies are xx, xy, yx, yy 29.Returns to scale is a concept that operates
A:in both the long run and the short run. B:in either the long run or the short run but never both. C:only in the short run. D:only in the long run. 30.If a firm takes the wage as given, then the supply curve of labor to that firm is
A:vertical. B:downward sloping. C:upward sloping. D:horizontal. 31.When reducing output from the competitive level lowers welfare,
A:social welfare is higher B:producer surplus is lower C:a deadweight loss is generated D:consumer surplus is lower 32.A competitive market maximizes social welfare because in a competitive market, price equals marginal cost of the last unit produced.
A:错 B:对 33.The ability to set a price greater than marginal cost guarantees an economic profit for the monopolistic competitor.
A:错 B:对 34.In perfect competion, the marginal cost curve always cross the lowest point on average variable cost curve
A:对 B:错 35.The length of the short run is the same for all firms.
A:对 B:错 36.(First-price sealed-bid auction) Alice is selling her 2000 chevrolet cavalier to her friends, Bob and Charles. Bob attaches a value of S$8,000 to Alice's old car, while Charles's value of the car is S$10,000. (These valuations are common knowledge between Bob and Charles.) Alice designs the following auction to sell her car: First, she asks each of them to write his bid on a piece of paper. Then Bob and Charles give their bids (nonnegative integers) to Alice. Notice that when Bob and Charles write down their bids, they don't know each other's bid (so called "sealed bid"). After Alice receives the sealed bids, the bids are shown to everyone, and the car will be sold to the person who has the higher bid at the price equal to his own bid. When there is a tie (Bob and Charles bid the same amount), then Alice would flip a fair coin to decide who will get the car.Bob bids 9999 and Charles bids 10000 is a Nash equilibrium.
A:错 B:对 37.A monopoly always operates in the inelastic portion of its demand curve
A:错误 B:正确 38.(First-price sealed-bid auction) Alice is selling her 2000 chevrolet cavalier to her friends, Bob and Charles. Bob attaches a value of S$8,000 to Alice's old car, while Charles's value of the car is S$10,000. (These valuations are common knowledge between Bob and Charles.) Alice designs the following auction to sell her car: First, she asks each of them to write his bid on a piece of paper. Then Bob and Charles give their bids (nonnegative integers) to Alice. Notice that when Bob and Charles write down their bids, they don't know each other's bid (so called "sealed bid"). After Alice receives the sealed bids, the bids are shown to everyone, and the car will be sold to the person who has the higher bid at the price equal to his own bid. When there is a tie (Bob and Charles bid the same amount), then Alice would flip a fair coin to decide who will get the car.In this game Bob bids 8500 and Charles bids 8501 is a Nash equilibrium?
A:对 B:错 39.Many college football teams require a "donation" in order to purchase season tickets. This is price grouping.
A:错 B:对 40.A monopolist can always make a positive profit
A:错 B:对 41.(First-price sealed-bid auction) Alice is selling her 2000 chevrolet cavalier to her friends, Bob and Charles. Bob attaches a value of S$8,000 to Alice's old car, while Charles's value of the car is S$10,000. (These valuations are common knowledge between Bob and Charles.) Alice designs the following auction to sell her car: First, she asks each of them to write his bid on a piece of paper. Then Bob and Charles give their bids (nonnegative integers) to Alice. Notice that when Bob and Charles write down their bids, they don't know each other's bid (so called "sealed bid"). After Alice receives the sealed bids, the bids are shown to everyone, and the car will be sold to the person who has the higher bid at the price equal to his own bid. When there is a tie (Bob and Charles bid the same amount), then Alice would flip a fair coin to decide who will get the car.In this game Bob bids 8500 and Charles bids 8400 is a Nash equilibrium ?
A:对 B:错
