微观经济学期末考试ppt课件

.,微观经济学,期末考试,.,时间地点,时间：待定地点：待定,.,考试形式,有限开卷考试中只允许使用以下物品：英文版教材英汉词典（纸质、电子均可）计算器,.,题型题量,.MULTIPLECHOICES（单项选择15*2）.TRUE/FALSE（判断10*2）.CALCULATION（计算填空7*2）.SHORTANSWER（简答2*8）.GRAPHICALLYANALYSES（作图分析2*10）,.,MULTIPLECHOICES,Inthecircular-flowdiagram,a.factorsofproductionflowfromgovernmenttofirms.b.goodsandservicesflowfromhouseholdstofirms.c.incomepaidtothefactorsofproductionflowsfromfirmstohouseholds.d.spendingongoodsandservicesflowsfromfirmstohouseholds.,ANS:C,.,MULTIPLECHOICES,Whatwillhappentotheequilibriumpriceandquantityofnewcarsifthepriceofgasolinerises,thepriceofsteelrises,publictransportationbecomescheaperandmorecomfortable,andauto-workersnegotiatehigherwages?a.Pricewillfall,andtheeffectonquantityisambiguous.b.Pricewillrise,andtheeffectonquantityisambiguous.c.Quantitywillfall,andtheeffectonpriceisambiguous.d.Quantitywillrise,andtheeffectonpriceisambiguous.,ANS:C,.,MULTIPLECHOICES,Foraparticulargood,a10percentincreaseinpricecausesa5percentdecreaseinquantitydemanded.Whichofthefollowingstatementsismostlikelyapplicabletothisgood?a.Therearemanyclosesubstitutesforthisgood.b.Thegoodisanecessity.c.Themarketforthegoodisnarrowlydefined.d.Therelevanttimehorizonislong.,ANS:B,.,MULTIPLECHOICES,Thedifferencebetweenaccountingprofitandeconomicprofitisa.explicitcosts.b.implicitcosts.c.totalrevenue.d.marginalproduct.,ANS:B,.,MULTIPLECHOICES,Theefficientscaleofthefirmisthequantityofoutputthata.maximizesmarginalproduct.b.maximizesprofit.c.minimizesaveragetotalcost.d.minimizesaveragevariablecost.,ANS:C,.,MULTIPLECHOICES,Intheshortrun,afirmoperatinginacompetitiveindustrywillshutdownifpriceisa.lessthanaveragetotalcost.b.lessthanaveragevariablecost.c.greaterthanaveragevariablecostbutlessthanaveragetotalcost.d.greaterthanmarginalcost.,ANS:B,.,MULTIPLECHOICES,Whichofthefollowingisacharacteristicofanaturalmonopoly?a.Fixedcostsaretypicallyasmallportionoftotalcosts.b.Averagetotalcostdeclinesoverlargeregionsofoutput.c.Theproductsoldisanaturalresourcesuchasdiamondsorwater.d.Alloftheabovearecorrect.,ANS:B,.,MULTIPLECHOICES,Foraprofit-maximizingmonopolist,a.PMR=MC.b.P=MR=MC.c.PMRMC.d.MRMCP.,ANS:A,.,RefertoFigure1.Thepricepaidbybuyersafterthetaxisimposedisa.$3.b.$4.c.$5.d.$7.,Figure1,MULTIPLECHOICES,ANS:D,.,RefertoFigure1.Whichofthefollowingiscorrect?a.1/4oftheburdenofthetaxfallsonbuyers,and3/4oftheburdenofthetaxfallsonsellers.b.1/3oftheburdenofthetaxfallsonbuyers,and2/3oftheburdenofthetaxfallsonsellers.c.1/2oftheburdenofthetaxfallsonbuyers,and1/2oftheburdenofthetaxfallsonsellers.d.2/3oftheburdenofthetaxfallsonbuyers,and1/3oftheburdenofthetaxfallsonsellers.,Figure1,MULTIPLECHOICES,ANS:D,.,RefertoFigure1.Howmuchtaxrevenuedoesthistaxproduceforthegovernment?a.$24.b.$30.c.$32.d.$56.,Figure1,MULTIPLECHOICES,ANS:A,.,RefertoFigure2.Ifthemarketpriceis$10,whatisthefirmsshort-runeconomicprofit?a.$9.b.$15.c.$30.d.$50.,Figure2,MULTIPLECHOICES,ANS:B,.,RefertoFigure2.Thefirmwillearnzeroeconomicprofitifthemarketpriceisa.$0.b.$6.c.$7.d.$10.,Figure2,MULTIPLECHOICES,ANS:B,.,TRUE/FALSEEconomicgrowthcausesaproductionpossibilitiesfrontiertoshiftoutward.,ANS:T,.,TRUE/FALSEIfthedemandforagoodfallswhenincomefalls,thenthegoodiscalledaninferiorgood.,ANS:F,.,TRUE/FALSEAIfweobservethatwhenthepriceofchocolateincreasesby10%,totalrevenueincreasesby10%,thenthedemandforchocolateisunitpriceelastic.,ANS:F,.,TRUE/FALSE,Ataxburdenfallsmoreheavilyonthesideofthemarketthatislesselastic.,ANS:T,.,Theareabelowthedemandcurveandabovethesupplycurvemeasurestheproducersurplusinamarket.,TRUE/FALSE,ANS:F,.,TRUE/FALSE,Ifthemarginalcostofproducingthetenthunitofoutputis$3,andiftheaveragetotalcostofproducingthetenthunitofoutputis$2,thenattenunitsofoutput,averagetotalcostisrising.,ANS:T,.,TRUE/FALSE,Inthelongrun,afirmshouldexittheindustryifitstotalcostsexceeditstotalrevenues.,ANS:T,.,TRUE/FALSE,Likecompetitivefirms,monopolieschoosetoproduceaquantityinwhichmarginalrevenueequalsmarginalcost.,ANS:T,.,CALCULATION,SupposedemandisgivenbytheequationQd=400-2P,andsupplyisgivenbytheequationQs=100+3P.Theequilibriumpriceinthismarketis$andtheequilibriumquantityis.,ANS:60，280,.,CALCULATION,Asmallfamilyfarmsolditsoutputfor$100,000inagivenyear.Thefamilyspent$25,000onfuel,$40,000onseed,fertilizer,and$25,000onequipment.Thefamilymemberscouldhaveearned$20,000workingatotheroccupations.Theaccountingprofitforthefamilyfarmis$andtheeconomicprofitis$.,ANS:10000，-10000,.,CALCULATION,Acompetitivefirmismaximizingitsprofitbyselling150unitsofoutput.Thefirmsmarginalcostis$8anditsaveragetotalcostis$6.Thefirmsprofitamountsto$_.,ANS:300,.,SHORTANSWER,Whyisafirmsaverage-total-costcurveU-shaped?Howandwhydoesitdifferintheshortrunandinthelongrun?,.,SHORTANSWER,(1)Theaverage-total-costcurveisU-shapedbecausethefirminitiallyisabletospreadoutfixedcostsoveradditionalunits,butasquantityincreases,itcostsmoretoincreasequantityfurtherbecauseanimportantinputislimited.,.,SHORTANSWER,(2)Inthelongrun,afirmcanadjustthefactorsofproductionthatarefixedintheshortrun;forexample,itcanincreasethesizeofitsfactory.Asaresult,thelong-runaverage-total-costcurvehasamuchflatterU-shapethantheshort-runaverage-total-costcurve.Inaddition,thelong-runcurveliesalongthelowerenvelopeoftheshort-runcurves.,.,GRAPHICALLYANALYSES,Supposeweareanalyzingthemarketforcars.Graphicallyillustratetheimpacteachofthefollowingwouldhaveondemandorsupply.Alsoshowhowequilibriumpriceandquantityhavechanged.a.Astock-marketboommakespeoplewealthier.b.Astrikebysteelworkersraisessteelprices.,.,GRAPHICALLYANALYSES,a.Becausecarsarenormalgoods,anincreaseinpeopleswealthwillshiftthedemandcurveforcartotheright,bothPandQwillrise.,.,GRAPHICALLYANALYSES,b.Becausesteelisaninputintheproductionofcars,highersteelpriceswillshiftthesupplycurveofcarstothele