微观经济理论测试题库：tb14

1、PAGE 162Chapter 14Traditional Models of Imperfect Competition202.In the long run, under the quasi-competitive model, for a typical firm, price isa.above average cost but equal to marginal cost.b.above marginal cost but equal to average cost.c.above marginal cost.* d.equal to marginal cost and equal

2、to or greater than average cost.203.In the cartel model,a.firms believe that price increases result in a very elastic demand, while price decreases result in an inelastic demand for their products.b.each firm acts as a price taker.c.one dominant firm takes the reactions of all other firms into accou

3、nt in its output and pricing decisions.* d.firms coordinate their decisions to act as a multiplant monopoly.204.Under the cartel model, each firm produces where*a.marginal cost equals marginal revenue.b.price equals marginal cost.c.the average cost curve is at a minimum.d.price exceeds marginal cost

4、 by the greatest amount.205.All of the following are problems associated with maintaining a cartel excepta.cartels are illegal.b.a large amount of information is needed to coordinate a cartel.* fits are not maximized by a cartel so it will evolve into a monopoly.d.each member of the cartel has

5、an incentive to “chisel” by expanding output.206.Each firm in a cartel has an incentive to chisel because market price exceeds*a.marginal cost.b.average cost.c.average variable cost.d.average fixed cost.207.In the price leadership modela.firms believe that price increases result in a very elastic de

6、mand, while price decreases result in an inelastic demand for their product.b.each firm acts as a price taker.* c.one dominant firm takes the reactions of all other firms into account in its output and pricing decisions.d.firms coordinate their decisions to act as multiplant monopolies.208.Under the

7、 price leadership model,a.most firms act independently of the leader.b.the leaders price is always lower than the other firms prices.c.the leaders price is always higher than the other firms prices.* d.all firms adjust their prices to that chosen by the leader.209.In a Cournot equilibrium each firm

8、chooses an output level thata.maximizes joint profits.b.maximizes the price received.*c.maximizes profits given what the other firm produces.d.maximizes revenue given what the other firm produces.210.Product differentiation complicates the study of oligopolies because such markets may not a.be effic

9、ient.b.have prices equal to marginal cost.c.have free entry and exit.*d.obey the law of one price.211.A profitmaximizing firm should spend an additional dollar on advertising so long as this expenditure results in more than one dollar ofa.additional sales.b.reduced costs.*c.increased profits.d.deman

10、d.212.In a contestable market, firms produce where*a.price equals marginal cost and longrun average cost.b.price equals marginal cost above longrun average cost.c.marginal cost equals marginal revenue and longrun average cost.d.marginal cost equals marginal revenue below longrun average cost.213.In

11、a contestable marketa.barriers to entry must exist.b.economic profits are positive.*c.entry and exit is costless.d.all firms are price takers.214. A natural monopoly in a contestable market will havea. P = MC = AC.b.P = MC AC.* c.P = AC MC.d.P AC = MC.215.Membership in a product group can be measured by*a.cross price elasticities of demand.b.returns to scale.c.economies of scope.d.demand income effects.216.In the H