雨课堂学堂在线学堂云《中级微观经济学（山东师范大学）》单元测试考核答案

中级微观经济学第1题Inmarket,priceswilltransferinformationaboutsupplyanddemand.()第2题Theonlyrequirementforamarkettobeperfectlycompetitiveisforthemarkettohavemanybuyersandsellers.()第3题Economicsisthestudyof().AHowtomakeeconomicpoliciesBHowtomaximizeconsumerwealthCHowtomaximizetheprofitDHowsocietiesusescarceresources第4题Thedemandcurveshows().Ahowmuchfirmswouldliketosellateachprices.Bhowmuchmarketwouldliketotrade.Chowmuchpeoplewouldliketopayatthereserveprices.第5题Economicsproceedsbymakingmodelsof(),whicharesimplifiedrepresentationsofreality.AstoriesBsocialphenomenaCpeople’simagination第1题Bella’sbudgetlineforxandydependsonallofthefollowingexceptAtheamountofmoneyshehastospendonxandy.Bthepriceofx.Cherpreferencesbetweenxandy.Dthepriceofy.第2题Seriousconsumesonlytwogoods,Wheatiesandpens.Eachpencosts1.𝐸𝑎𝑐ℎ𝑏𝑜𝑥𝑜𝑓𝑊ℎ𝑒𝑎𝑡𝑖𝑒𝑠𝑐𝑜𝑠𝑡𝑠2buthasafreepeninside.Penscanbediscardedatnocost.IfwedrawSerious’sbudgetsetwithpensplottedonthehorizontalaxis,thenhisbudgetsetwillbeboundedbytwolinesegmentswithslopes()Azeroand−1.Bzeroand−2.Czeroand−0.5.Dzeroandinfinity.第3题TheChuzzlewitshaveanincomeof$mperweek.Letxbefoodandletybeallothergoods.Letpxbethepriceoffoodandpybethepriceofothergoods.Theycanusefoodstampstobuyfoodatapriceofpx(1−s)foruptox*unitsoffoodperweek.Iftheybuymorefoodthanx*,theyhavetopaythefullpricepxforadditionalunits.Theirweeklyincomeisgreaterthanpx(1−s)x*.Themaximumamountoffoodthattheycanbuyperweekis()Ax*+(m/px).B(m+x*)/px.C(m/px)+sx*.Dm/(1−s)px.第4题Adecreaseinincomepivotsthebudgetlinearoundthebundleinitiallyconsumed.()第5题Thereare3goods.Thepriceofgood1is−1,thepriceofgood2is+1,andthepriceofgood3is+2.Itisphysicallypossibleforaconsumertoconsumeanycommoditybundlewithnon-negativeamountsofeachgood.Aconsumerwhohasanincomeof10couldaffordtoconsumesomecommoditybundlesthatinclude5unitsofgood1and6unitsofgood2.()chapter3-1第1题1.Coletteconsumesgoodsxandy.Herindifferencecurvesaredescribedbytheformulay=k/(x+7).Highervaluesofkcorrespondtobetterindifferencecurves.AColettelikesgoodyandhatesgoodx.Bb.Coletteprefersbundle(12,16)tobundle(16,12).Cc.Coletteprefersbundle(8,5)tobundle(5,8).Dd.Colettelikesgoodxandhatesgoody.第4题Quasilinearpreferencesarehomotheticwhentheoptimalamountofgood1isnotaffordable.()第5题Ifoneutilityfunctionisamonotonictransformationofanother,thentheformermustassignahigherutilitynumbertoeverybundlethanthelatter.()Chapter3-2第1题Iftwogoodsarebothdesirableandpreferencesareconvex,then()Atheremustbeakinkintheindifferencecurves.Bindifferencecurvesmustbestraightlines.Ciftwobundlesareindifferent,thenanaverageofthetwobundlesisworsethaneitherone.DNoneoftheabove.第2题Nick’sindifferencecurvesarecircles,allofwhicharecenteredat(12,12).Ofanytwoindifferencecircles,hewouldratherbeontheinneronethantheouterone.()ANick’spreferencesarenotcomplete.BNickprefers(16,17)to(10,10).CNickprefers(10,17)to(10,10).DNickprefers(8,8)to(17,21).第3题Ifoneutilityfunctionisamonotonictransformationofanother,thentheformermustassignahigherutilitynumbertoeverybundlethanthelatter.()第4题MarkstrictlyprefersconsumptionbundleAtoconsumptionbundleBandweaklyprefersbundleBtobundleA.Thesepreferencescanberepresentedbyautilityfunction.()第5题Alice’sutilityfunctionisU(x,y)=x2y.Steve’sutilityfunctionisU(x,y)=x2y+2x.AliceandStevehavethesamepreferencessinceSteve’sutilityfunctionisamonotonictransformationofAlice’s.()Chapter4第1题CharliehasautilityfunctionU(xA,xB)=xAxB,thepriceofapplesis1,𝑎𝑛𝑑𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑏𝑎𝑛𝑎𝑛𝑎𝑠𝑖𝑠2.IfCharlie’sincomewere$120,howmanyunitsofbananaswouldheconsumeifhechosethebundlethatmaximizedhisutilitysubjecttohisbudgetconstraint?()A30B15C60D6第2题Mort’sutilityfunctionisU(x1,x2)=x1x2.Hisincomeis100.𝑇ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑔𝑜𝑜𝑑2𝑖𝑠10.hepriceofgood1is$10perunit.WhatconsumptionbundledoesMortchoose?()A(5,5)B(7,3.5)C(9,3)D(6,4)第3题IftheEngelcurveslopesup,thenthedemandcurveslopesdown.()第4题Whenothervariablesareheldfixed,thedemandforaGiffengoodriseswhenincomeincreases.()第5题Ifincomeisdoubledandallpricesaredoubled,thenthedemandforluxurygoodswillmorethandouble.()第6题Prudencewasmaximizingherutilitysubjecttoherbudgetconstraint.Thenpriceschanged.Afterthepricechangeshewasbetteroff.Thereforethenewbundlecostsmoreattheoldpricesthantheoldbundledid.()第7题Agoodisaluxurygoodiftheincomeelasticityofdemandforitisgreaterthan1.()第8题Ifaconsumermaximizesherpreferencessubjecttoherbudgetbychoosingaconsumptionbundlewheretheratioofhermarginalutilitiesofshelterandfood,MUS/MUF,isgreaterthantheratioofthepricesofshelterandfood,pS/pF,thenshemust()Abeconsumingfoodbutnoshelter.Bbeconsumingshelterbutnofood.Cbelievethatshelterisa“bad.”Dbeconsumingbothfoodandshelter.第9题Charlie’sutilityfunctionisU(xA,xB)=xAxB.IfCharlie’sincomeis40,𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑎𝑝𝑝𝑙𝑒𝑠𝑖𝑠4,andthepriceofbananasis$2,howmanyapplesarethereinthebestbundlethatCharliecanafford?()A10B12C8D5第10题CharliehasautilityfunctionU(xA,xB)=xAxB,thepriceofapplesis1,𝑎𝑛𝑑𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑏𝑎𝑛𝑎𝑛𝑎𝑠𝑖𝑠2.IfCharlie’sincomewere$200,howmanyunitsofbananaswouldheconsumeifhechosethebundlethatmaximizedhisutilitysubjecttohisbudgetconstraint?()A25B50C10D100Chapter5第1题Mr.Coghas18hoursperdaytodividebetweenlaborandleisure.HisutilityfunctionisU(C,R)=CR,whereCisdollarsperyearspentonconsumptionandRishoursofleisure.Ifhehasanonlaborincomeof40dollarsperdayandawagerateof8dollarsperhour,hewillchooseacombinationoflaborandleisurethatallowshimtospend()A184dollarsperdayonconsumption.B82dollarsperdayonconsumption.C112dollarsperdayonconsumption.D92dollarsperdayonconsumption.第2题Mr.Coghas18hoursperdaytodividebetweenlaborandleisure.HisutilityfunctionisU(C,R)=CR,whereCisdollarsperyearspentonconsumptionandRishoursofleisure.Ifhehas5dollarsofnonlaborincomeperdayandgetsawagerateof11dollarsperhourwhenheworks,hisbudgetequation,expressingcombinationsofconsumptionandleisurethathecanaffordtohave,canbewrittenas()AC=203+11R.BR+C/11=269.C11R+C=5.D11R+C=203.第3题Mr.Coghas18hoursperdaytodividebetweenlaborandleisure.HisutilityfunctionisU(C,R)=CR,whereCisdollarsperyearspentonconsumptionandRishoursofleisure.Ifhehas19dollarsofnonlaborincomeperdayandgetsawagerateof15dollarsperhourwhenheworks,hisbudgetequation,expressingcombinationsofconsumptionandleisurethathecanaffordtohave,canbewrittenas()A15R+C=19.B15R+C=289.CR+C/15=379.DC=289+15R.第4题IfAbishagowns16quincesand15kumquatsandifthepriceofkumquatsis4timesthepriceofquinces,howmanykumquatscansheaffordifshebuysasmanykumquatsasshecan?()A38B31C15D19第5题Charlie’sutilityfunctionisxAxB.Thepriceofapplesusedtobe1,𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑏𝑎𝑛𝑎𝑛𝑎𝑠𝑢𝑠𝑒𝑑𝑡𝑜𝑏𝑒2,andhisincomeusedtobe40.𝐼𝑓𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑎𝑝𝑝𝑙𝑒𝑠𝑖𝑛𝑐𝑟𝑒𝑎𝑠𝑒𝑑𝑡𝑜6andthepriceofbananasstayedconstant,thesubstitutioneffectonCharlie’sappleconsumptionwouldreducehisconsumptionby()A16.67apples.B5apples.C8.33apples.D13.33apples.第6题Supposeaconsumerisinitiallyendowedwithapositiveamountoftwogoods,sellssomeofonetogetmoreoftheother,andhasnoothersourcesofincome.Ifthepriceofonegoodfalls,hisnewbudgetlineiseverywhereabovehisoldbudgetline.()第7题Jackhasabackward-bendinglaborsupplycurve.Atwagesof5𝑎𝑛ℎ𝑜𝑢𝑟ℎ𝑒𝑐ℎ𝑜𝑜𝑠𝑒𝑠𝑡𝑜𝑤𝑜𝑟𝑘50ℎ𝑜𝑢𝑟𝑠𝑎𝑤𝑒𝑒𝑘.𝐻𝑖𝑠𝑏𝑜𝑠𝑠𝑤𝑎𝑛𝑡𝑠ℎ𝑖𝑚𝑡𝑜𝑤𝑜𝑟𝑘𝑚𝑜𝑟𝑒ℎ𝑜𝑢𝑟𝑠𝑝𝑒𝑟𝑤𝑒𝑒𝑘𝑎𝑛𝑑𝑜𝑓𝑓𝑒𝑟𝑠ℎ𝑖𝑚5anhourforthefirst50hoursperweekand$7anhourforeveryhourbeyond50hoursperweek.Becauseofhisbackward-bendingsupplycurve,Jackmightactuallychoosetoworkfewerhours.()第8题Ifleisureisaninferiorgood,thenanincreaseinthewageratewillmakeapersonworkmore.()第9题Ifleisureisanormalgood,thenanincreaseinnonlaborincomewillreducelaborsupply.()第10题Ifallgoods,includingleisure,arenormalgoods,thenanincreaseinthewageratewillnecessarilymakepeoplewanttoworkmorehours.()Chapter6第1题Tom’scarisworth100,000.𝐵𝑢𝑡ℎ𝑖𝑠𝑐𝑎𝑟𝑤𝑖𝑙𝑙𝑏𝑒𝑠𝑡𝑜𝑙𝑒𝑛𝑤𝑖𝑡ℎ𝑝𝑟𝑜𝑏𝑎𝑏𝑖𝑙𝑖𝑡𝑦0.5.𝐼𝑓𝑖𝑡𝑖𝑠𝑠𝑡𝑜𝑙𝑒𝑛,ℎ𝑒𝑤𝑖𝑙𝑙𝑛𝑒𝑣𝑒𝑟𝑔𝑒𝑡𝑖𝑡𝑏𝑎𝑐𝑘.𝑇𝑜𝑚ℎ𝑎𝑠100,000inotherwealthandhisvonNeumann-Morgensternutilityfunctionforwealthisu()=ln().SupposethatTomcanbuy𝐾𝑤𝑜𝑟𝑡ℎ𝑜𝑓𝑖𝑛𝑠𝑢𝑟𝑎𝑛𝑐𝑒𝑎𝑡𝑎𝑝𝑟𝑖𝑐𝑒𝑜𝑓0.6K.HowmuchinsurancewillTombuy?()A$0B$100,000CMorethan0𝑏𝑢𝑡𝑙𝑒𝑠𝑠𝑡ℎ𝑎𝑛50,000DMorethan50,000𝑏𝑢𝑡𝑙𝑒𝑠𝑠𝑡ℎ𝑎𝑛100,000第2题BillyhasavonNeumann-MorgensternutilityfunctionU()=c1/2.IfBillyisnotinjuredthisseason,hewillreceiveanincomeof25𝑚𝑖𝑙𝑙𝑖𝑜𝑛.𝐼𝑓ℎ𝑒𝑖𝑠𝑖𝑛𝑗𝑢𝑟𝑒𝑑,ℎ𝑖𝑠𝑖𝑛𝑐𝑜𝑚𝑒𝑤𝑖𝑙𝑙𝑏𝑒𝑜𝑛𝑙𝑦10,000.Theprobabilitythathewillbeinjuredis0.1andtheprobabilitythathewillnotbeinjuredis0.9.Hisexpectedutilityis()A100,000.B9,020.Cbetween24millionand25million.D4,510.第3题BillyhasavonNeumann-MorgensternutilityfunctionU()=c1/2.IfBillyisnotinjuredthisseason,hewillreceiveanincomeof16𝑚𝑖𝑙𝑙𝑖𝑜𝑛.𝐼𝑓ℎ𝑒𝑖𝑠𝑖𝑛𝑗𝑢𝑟𝑒𝑑,ℎ𝑖𝑠𝑖𝑛𝑐𝑜𝑚𝑒𝑤𝑖𝑙𝑙𝑏𝑒𝑜𝑛𝑙𝑦10,000.Theprobabilitythathewillbeinjuredis0.1andtheprobabilitythathewillnotbeinjuredis0.9.Hisexpectedutilityis()A3,610.Bbetween15millionand16million.C100,000.D7,220.第4题Harley’scurrentwealthis600,𝑏𝑢𝑡𝑡ℎ𝑒𝑟𝑒𝑖𝑠𝑎0.25𝑝𝑟𝑜𝑏𝑎𝑏𝑖𝑙𝑖𝑡𝑦𝑡ℎ𝑎𝑡ℎ𝑒𝑤𝑖𝑙𝑙𝑙𝑜𝑠𝑒100.Harleyisriskneutral.Hehasanopportunitytobuyinsurancethatwouldrestorehis$100ifhelostit.()AHarleywouldbewillingtopayabitmorethan$25forthisinsurance.BHarleywouldbewillingtopayupto$25forthisinsurance.CSinceHarleyisriskneutral,hewouldn’tbewillingtopayanythingforthisinsurance.DSinceHarley’sutilityfunctionisnotspecified,wecan’ttellhowmuchhewouldbewillingtopayforthisinsurance.第5题Portiahaswaitedalongtimeforhershiptocomein,andshehasconcludedthatitwillarrivetodaywithprobability1/4.Ifitdoescome,shewillreceive$16.Ifitdoesn’tcomeintoday,itneverwillandshewillhavezerowealth.ShehasavonNeumann-Morgensternutilityfunctionequaltothesquarerootofhertotalincome.Whatistheminimumpriceatwhichshewouldselltherightstohership?()A$1B$2C$2.50D$4第6题Ifthepriceofinsurancegoesup,peoplewillbecomelessriskaverse.()第7题IfPaulisrisklovingandhisbasketballteamhasaprobabilityof.5ofwinning,thenPaulwouldratherbet10𝑜𝑛ℎ𝑖𝑠𝑡𝑒𝑎𝑚𝑡ℎ𝑎𝑛100.(WhenPaulbetsX,hewinsXifhisteamwinsandlosesXifhisteamloses.()第8题Ifsomeonehasstrictlyconvexpreferencesbetweenallcontingentcommoditybundles,thenheorshemustberiskaverse.()第9题Susanisanetborrowerwhentheinterestrateis10%andanetsaverwhentheinterestrateis20%.Adecreaseintheinterestratefrom20%to10%maymakeSusanworseoff.()第10题Ifthenominalinterestrateis3%andifpricesfallby2%peryear,thentherealrateofinterestisapproximately5%.()Chapter7第1题SirPlushasademandfunctionformeadthatisgivenbytheequationD()=100−p.Ifthepriceofmeadis$90,howmuchisSirPlus’snetconsumer’ssurplus?()A$25B$10C$50D$100第2题SirPlushasademandfunctionformeadthatisgivenbytheequationD()=100−p.Ifthepriceofmeadis$60,howmuchisSirPlus’snetconsumer’ssurplus?()A$40B$800C$1,600D$400第3题SamhasquasilinearpreferencesandhisdemandfunctionforxisD()=15−p/3.Thepriceofxisinitially15𝑝𝑒𝑟𝑢𝑛𝑖𝑡𝑎𝑛𝑑𝑖𝑛𝑐𝑟𝑒𝑎𝑠𝑒𝑠𝑡𝑜24perunit.Sam’schangeinconsumer’ssurplusisclosestto()A−168.B−76.C−27.D75.第4题Attheinitialprices,Teodoroisanetsellerofapplesandanetbuyerofbananas.Ifthepriceofapplesdecreasesandthepriceofbananasdoesnotchange,()Athecompensatingvariationmustbenegativeandtheequivalentvariationpositive.Bthecompensatingvariationmustbepositiveandtheequivalentvariationnegative.Cboththecompensatingvariationandtheequivalentvariationmustbepositive.Dboththecompensatingvariationandtheequivalentvariationmustbenegative.第5题Ellsworth’sutilityfunctionisU(x,y)=min{x,y}.Ellsworthhas150𝑎𝑛𝑑𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑥𝑎𝑛𝑑𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑦𝑎𝑟𝑒𝑏𝑜𝑡ℎ1.Ellsworth’sbossisthinkingofsendinghimtoanothertownwherethepriceofxis1𝑎𝑛𝑑𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑦𝑖𝑠2.Thebossoffersnoraiseinpay.Ellsworthunderstandscompensatingandequivalentvariationperfectly.Hesaysthathavingtomoveisasbadasacutinpayof𝐴.𝐻𝑒𝑎𝑙𝑠𝑜𝑠𝑎𝑦𝑠ℎ𝑒𝑤𝑜𝑢𝑙𝑑𝑛′𝑡𝑚𝑖𝑛𝑑𝑚𝑜𝑣𝑖𝑛𝑔𝑖𝑓𝑤ℎ𝑒𝑛ℎ𝑒𝑚𝑜𝑣𝑒𝑑ℎ𝑒𝑔𝑜𝑡𝑎𝑟𝑎𝑖𝑠𝑒𝑜𝑓B.WhatareAandB?()AA=50andB=50.BA=75andB=75.CA=75andB=100.DA=50andB=75.第6题Ifaconsumerhastopayhisreservationpriceforagood,thenhegetsnoconsumersurplusfrompurchasingit.()第7题Bernice’sutilityfunctionisU(x,y)=min{x,y}.Thepriceofxusedtobe3butroseto4.Thepriceofyremainedat1.Herincomeis12.Shewouldneedanincomeof$15tobeabletoaffordabundleasgoodasheroldoneatthenewprices.()第8题IfthereisapriceincreaseforagoodthatMarilynconsumes,hercompensatingvariationisthechangeinherincomethatallowshertopurchasehernewoptimalbundleattheoriginalprices.()第9题BernicehastheutilityfunctionU(x,y)=min{x,y}.Thepriceofxusedtobe3butroseto4.Thepriceofyremainedat1.Herincomeis12.Thepriceincreasewasasbadforherasalossof$3inincome.()第10题IfthereisCobb-Douglasutility,compensatingandequivalentvariationarethesame.()Chapter8第1题Ifatcurrentprices,thedemandforagoodispriceelastic,thenformovementsalongthedemandcurve,()Aincreasingthepricewillincreaserevenue.Bdecreasingthepricewilldecreaserevenue.Cincreasingthequantitysoldwillincreaserevenue.Dincreasingthequantitysoldwilldecreaserevenue.第2题Ifthesupplycurveforxisgivenbyx=100p2,thentheinversesupplycurveisgivenby()A100/p2.Bx2/100.Cx1/2/10.Dp−2/100.第3题AfirmfacesademandfunctionD(),forwhichtherevenue-maximizingpriceis$16.Thedemandfunctionisalteredto2D().Whatisthenewrevenuemaximizingprice?()A$8B$16C$32DThereisinsufficientinformationtodeterminethis.第4题Theinversedemandfunctionforcoffeeisp=50,000−2q,whereqisthenumberoftonsproducedandpisthepriceperton.Totalrevenuefromcoffeesalesbemaximizedwhentheoutputlevelis()A25,000tons.B15,000tons.C17,500tons.D12,500tons.第5题Theinversedemandfunctionforsoybeansisp=30,000−6q.Totalrevenueinthismarketwillbemaximizedwhenthequantityofsoybeansproducedis()A3,611bushels.B5,000bushels.C1,250bushels.D2,500bushels.第6题Iftheelasticityofdemandcurveforbarleyis−1.50atallpriceshigherthanthecurrentprice,wewouldexpectthatwhenbadweatherreducesthesizeofthebarleycrop,totalrevenueofbarleyproducerswillfall.()第7题Ifthedemandfunctionisq=3m/p,wheremisincomeandpisprice,thentheabsolutevalueofthepriceelasticityofdemanddecreasesaspriceincreases.()第8题Ifthedemandcurveisalinearfunctionofprice,thenthepriceelasticityofdemandisthesameatallprices.()第9题Ifconsumer1hasthedemandfunctionx1=1,000−2pandconsumer2hasthedemandfunctionx2=500−p,thentheaggregatedemandfunctionforaneconomywithjustthesetwoconsumerswouldbex=1,500−3pforp<500.()第10题TheinversedemandcurveP()foragoodxmeasuresthepriceperunitatwhichthequantityxwouldbedemanded.()Chapter9第1题ThedemandfunctionforxisD()=65−2pandthesupplyfunctionisS()=20+p.Thepricethatshouldbesettorestrictthequantitysuppliedto30unitsis()closesttoA$5.B$10.C$15.D$50.第2题Thedemandcurveforrutabagasisastraightlinewithslope23andthesupplycurveisastraightlinewithslope2.Supposethatanewtaxof$3persackofrutabagasisintroduced.()AThetotalnumberofrutabagaspurchasedincreases.BThepricepaidbydemandersrisesbythesameamountasthepricereceivedbysuppliersfalls.CThepricereceivedbysuppliersfallsbymorethanthepricepaidbydemandersrises.DThepricepaidbydemandersrisesbymorethanthepricereceivedbysuppliersfalls第3题Thedemandfunctionforrentalapartmentsisq=960−7pandthesupplyfunctionisq=160+3p.Thegovernmentmakesitillegaltochargearenthigherthan$35.Howmuchexcessdemandwilltherebe?()A149B450C364D726第4题Ifthesupplyisperfectlyelastic,thenanupwardshiftofthedemandcurvewillleadtoahigherpriceandahigherquantityinequilibrium.()第5题Ifthesupplycurveisvertical,thentheamountsuppliedisindependentofprice.()Chapter10第1题TheproductionfunctionisgivenbyF()=6L2/3.Supposethatthecostperunitoflaboris16𝑎𝑛𝑑𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑜𝑢𝑡𝑝𝑢𝑡𝑖𝑠8.Howmanyunitsoflaborwillthefirmhire?()A16B8C4D24第2题Acompetitivefirm’sproductionfunctionisf(x1,x2)=12x11/2+4x21/2.Thepriceoffactor1is1𝑎𝑛𝑑𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑓𝑎𝑐𝑡𝑜𝑟2𝑖𝑠2.Thepriceofoutputis$4.Whatistheprofit-maximizingquantityofoutput?()A304B608C300D612第3题TheproductionfunctionQ=50K0.25L0.25exhibits()Aincreasingreturnstoscale.Bconstantreturnstoscale.Cdecreasingreturnstoscale.Dincreasing,thendiminishingreturnstoscale.第4题Afirmusesonlytwoinputstoproduceitsoutput.Theseinputsareperfectsubstitutes.Thisfirm()Amusthaveincreasingreturnstoscale.Bmusthaveconstantreturnstoscale.Ccouldhaveincreasingreturnstoscale,constantreturnstoscale,ordecreasingreturnstoscale.Dmusthavedecreasingreturnstoscale.第5题Afirmhastheproductionfunctionf(x,y)=20x3/5y2/5.Theslopeofthefirm’sisoquantatthepoint(x,y)=(20,40)is(picktheclosestone)()A−3.B−0.67.C−1.50.D−0.50.第6题Afirmproducesoneoutputwithoneinputandhasdecreasingreturnstoscale.Thepricethatitpaysperunitofinputandthepriceitgetsperunitofoutputareindependentoftheamountthatthisfirmbuysorsells.Ifthegovernmenttaxesitsnetprofitsatsomepercentagerateandsubsidizesitsinputsatthesamepercentagerate,thefirm’sprofit-maximizingoutputwillnotchange.()第7题Ifthevalueofthemarginalproductoflaborexceedsthewagerate,thenacompetitive,profit-maximizingfirmwouldwanttohirelesslabor.()第8题Ifaprofit-maximizingcompetitivefirmhasconstantreturnstoscale,thenitslong-runprofitsmustbezero.()第9题Aproductionisoquantisalocusofcombinationsofinputsthatareequallyprofitable.()第10题Theproductionsetofafirmisthesetofallproductsthefirmcanproduce.()Chapter11第1题Dr.DentCarr’stotalcostsare2s2+40s+40.Ifherepairs10cars,hisaveragevariablecostswillbe()A$60.B$64.C$80.D$120.难易程度:低第2题Afirmhastheshort-runtotalcostfunctionc()=4y2+100.Atwhatquantityofoutputisshort-runaveragecostminimized?()A5B2C25D0.40第3题Afirmhasashort-runcostfunctionc()=3y+11fory>0andc(0)=8.Thefirm’squasi-fixedcostsare()A$8.B$11.C$3.D$7第4题Afirmhastwofactories.Onefactoryhasthecostfunctionc1(y1)=2y12+90andtheotherhasthecostfunctionc2(y2)=6y22+40.Ifthefirmwishestoproduceatotalof32unitsascheaplyaspossible,howmanyunitswillbeproducedinthesecondfactory?()A7B2C8D14第5题Afirmhasfixedcostsof4,000.𝐼𝑡𝑠𝑠ℎ𝑜𝑟𝑡−𝑟𝑢𝑛𝑝𝑟𝑜𝑑𝑢𝑐𝑡𝑖𝑜𝑛𝑓𝑢𝑛𝑐𝑡𝑖𝑜𝑛𝑖𝑠𝑦=4𝑥1/2,𝑤ℎ𝑒𝑟𝑒𝑥𝑖𝑠𝑡ℎ𝑒𝑎𝑚𝑜𝑢𝑛𝑡𝑜𝑓𝑣𝑎𝑟𝑖𝑎𝑏𝑙𝑒𝑓𝑎𝑐𝑡𝑜𝑟𝑖𝑡𝑢𝑠𝑒𝑠.𝑇ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑡ℎ𝑒𝑣𝑎𝑟𝑖𝑎𝑏𝑙𝑒𝑓𝑎𝑐𝑡𝑜𝑟𝑖𝑠4,000perunit.Whereyistheamountofoutput,theshort-runtotalcostfunctionis()A4,000/y+4,000.B8,000y.C4,000+4,000y.D4,000+250y2.第6题AveragefixedcostcurveswillbeU-shapedifthemarginalcostcurveisupwardsloping.()第7题Ifmarginalcostsincreaseasoutputincreases,thentheaveragefixedcostcurvewillbeU-shaped.()第8题Theareaunderthemarginalcostcurvemeasurestotalfixedcosts.()第9题Iftheproductionfunctionisf(x1,x2)=min{x1,x2},thenthecostfunctionisc(w1,w2,y)=min{w1,w2}y.()第10题Ifthereareincreasingreturnstoscale,thencostsperunitofoutputdecreaseasyoumovedownwardandtotherightalonganisocostline.()Chapter12第1题Inacertainindustry,thesupplycurveofanyfirmisSi()=p/2.Ifafirmproduces5unitsofoutput,whatareitstotalvariablecosts?()A$50B$23C$37.50D$25第2题Anindustryhas1,000firms,eachwiththeproductionfunctionf(x1,x2)=x11/2x21/2.Thepriceoffactor1is1𝑎𝑛𝑑𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑜𝑓𝑓𝑎𝑐𝑡𝑜𝑟2𝑖𝑠1.Inthelongrun,bothfactorsarevariable,butintheshortrun,eachfirmisstuckwithusing100unitsoffactor2.Thelong-runindustrysupplycurveis()Aupwardslopingwithzerosupplyifpriceislessthan$10.Bdownwardslopingforoutputslessthan10.Chorizontalwithzerosupplyforpriceslessthan2𝑎𝑛𝑑𝑖𝑛𝑓𝑖𝑛𝑖𝑡𝑒𝑠𝑢𝑝𝑝𝑙𝑦𝑓𝑜𝑟𝑝𝑟𝑖𝑐𝑒𝑠𝑔𝑟𝑒𝑎𝑡𝑒𝑟𝑡ℎ𝑎𝑛2.Dhorizontalwithzerosupplyforpriceslessthan10𝑎𝑛𝑑𝑖𝑛𝑓𝑖𝑛𝑖𝑡𝑒𝑠𝑢𝑝𝑝𝑙𝑦𝑓𝑜𝑟𝑝𝑟𝑖𝑐𝑒𝑠𝑔𝑟𝑒𝑎𝑡𝑒𝑟𝑡ℎ𝑎𝑛10.第3题BrandXisoneofmanyfirmsinacompetitiveindustrywhereeachfirmhasaconstantmarginalcostof2dollarsperunitofoutput.IfmarginalcostforBrandXrisesto4dollarsperunitandmarginalcostsofallotherfirmsintheindustrystayconstant,byhowmuchdoesthepriceintheindustryincrease?()A2dollarsB1dollarC0dollarD2/n,wherenisthenumberoffirmsintheindustry第4题Thebicycleindustryyismadeupof100firmswiththelong-runcostcurvec()=2+(y1/2)and60firmswiththelong-runcostcurvec()=y2/10.Nonewfirmscanentertheindustry.Whatisthelong-runindustrysupplycurveatpricesgreaterthan$2?()A=400p.b.B=420p.c.C=200p.d.D=300p.e.E=435p第5题Onasmallisland,papayascanonlybesoldinthemarketinthecenteroftheisland.Althoughpapayasonlycost1𝑡𝑜𝑟𝑎𝑖𝑠𝑒,𝑡ℎ𝑒𝑦𝑐𝑎𝑛𝑏𝑒𝑠𝑜𝑙𝑑𝑖𝑛𝑡ℎ𝑒𝑚𝑎𝑟𝑘𝑒𝑡𝑓𝑜𝑟3.Butitcosts$0.10perkilometertotransporteachpapayatomarket.Ifanacreoflandgrows200papayas,howmuchrentdoesanacreofland4kilometersfromthemarketcommand?()A$302B$320C$240D$262第6题Themarketforagoodisinequilibriumwhenthegovernmentunexpectedlyimposesaquantitytaxof2𝑝𝑒𝑟𝑢𝑛𝑖𝑡.𝐼𝑛𝑡ℎ𝑒𝑠ℎ𝑜𝑟𝑡𝑟𝑢𝑛,𝑡ℎ𝑒𝑝𝑟𝑖𝑐𝑒𝑤𝑖𝑙𝑙𝑟𝑖𝑠𝑒𝑏𝑦2perunitsothatfirmscanregaintheirlostrevenueandcontinuetoproduce.()第7题IfsomefirminanindustryhastheproductionfunctionF(x,y)=x3/4y3/4,wherexandyaretheonlytwoinputsinproducingthegood,thenthatindustrycannotbecompetitiveinthelongrun.()第8题Ifthereareconstantreturnstoscaleinacompetitiveindustry,thenthelong-runindustrysupplycurveforthatindustryishorizontal.()第9题Averagefixedcostsneverincreasewithoutput.():.Thechangeinproducer’ssurpluswhenthemarketpricechangesfromp1top2ishalfoftheareatotheleftofthemarginalcostcurvebetweenp1andp2.();.Theshort-runindustrysupplycurvecanbefoundbyhorizontallysummingtheshort-runsupplycurvesofalltheindividualfirmsintheindustry.(√)<.Itispossibletohaveanindustryinwhichallfirmsmakezeroeconomicprofitsinlong-runequilibrium.(√)=.Thepossibilityofmorefirmsenteringanindustryinthelongruntendstomakelong-runindustrysupplymorepriceelasticthanshort-runindustrysupply.(√)>.Inacompetitivemarket,ifbothdemandandsupplycurvesarelinear,thenaper-unittaxof10𝑤𝑖𝑙𝑙𝑔𝑒𝑛𝑒𝑟𝑎𝑡𝑒𝑒𝑥𝑎𝑐𝑡𝑙𝑦𝑡ℎ𝑒𝑠𝑎𝑚𝑒𝑑𝑒𝑎𝑑𝑤𝑒𝑖𝑔ℎ𝑡𝑙𝑜𝑠𝑠𝑎𝑠𝑎𝑝𝑒𝑟−𝑢𝑛𝑖𝑡𝑠𝑢𝑏𝑠𝑖𝑑𝑦𝑜𝑓10.(√)第10题Theareaunderthemarginalcostcurvemeasurestotalvariablecosts.()Chapter13第1题Amonopolistfacesaconstantmarginalcostof$1perunitandhasnofixedcosts.Ifthepriceelasticityofdemandforthisproductisconstantandequalto−3,then()Atomaximizeprofits,heshouldchargeapriceof$1.50.Btomaximizeprofits,heshouldchargeapriceof$3.Ctomaximizeprofits,heshouldchargeapriceof$1.33.Dheisnotmaximizingprofits.第2题InamarketwiththeinversedemandcurveP=10−Q,BrandXisamonopolistwithnofixedcostsandwithamarginalcostof2.𝐼𝑓𝑚𝑎𝑟𝑔𝑖𝑛𝑎𝑙𝑐𝑜𝑠𝑡𝑟𝑖𝑠𝑒𝑠𝑡𝑜4,byhowmuchwillthepriceofBrandXrise?()A$2.B$1.C$3.D$0;thefirmisalreadychargingthemonopolyprice.第3题Amonopolistfacesadownward-slopingdemandcurveandhasfixedcostssolargethatwhenshemaximizesprofitswithapositiveamountofoutput,sheearnsexactlyzeroprofits.Atthispositive,profit-maximizingoutput,()Atherearedecreasingreturnstoscale.Bdemandispriceinelastic.Cmarginalrevenueisgreaterthanmarginalcost.Daveragetotalcostisgreaterthanmarginalcost.第4题Amonopolyhasthedemandcurveq=10,000−100p.Itstotalcostfunctionisc()=1,000+10q.Thegovernmentplanstotaxthemonopoly’sprofitsatarateof50%.Ifitdoesso,themonopolywill()Aincreaseitspriceby50%.Bincreaseitspricebymorethan50%.Crecoversomebutnotallofthetaxitpaysbyincreasingitsprice.Dnotchangeitspriceorthequantityitsells第5题Amonopolisthasthetotalcostfunctionc()=750+5q.Theinversedemandfunctionis140−7q,wherepricesandcostsaremeasuredindollars.Ifthefirmisrequiredbylawtomeetdemandatapriceequaltoitsmarginalcosts,()Athefirmwillmakepositiveprofitbutnotasmuchprofitasitwouldmakeifitwereallowedtochooseitsownprice.Bthefirm’sprofitswillbezero.Cthefirmwilllose$375.Dthefirmwilllose$750.第6题Amonopolistwillalwaysequatemarginalrevenueandmarginalcostwhenmaximizingprofit.()第7题Amonopolistwithconstantmarginalcostsfacesademandcurvewithaconstantelasticityofdemandanddoesnotpracticepricediscrimination.Ifthegovernmentimposesataxof1𝑝𝑒𝑟𝑢𝑛𝑖𝑡𝑜𝑓𝑔𝑜𝑜𝑑𝑠𝑠𝑜𝑙𝑑𝑏𝑦𝑡ℎ𝑒𝑚𝑜𝑛𝑜𝑝𝑜𝑙𝑖𝑠𝑡,𝑡ℎ𝑒𝑚𝑜𝑛𝑜𝑝𝑜𝑙𝑖𝑠𝑡𝑤𝑖𝑙𝑙𝑖𝑛𝑐𝑟𝑒𝑎𝑠𝑒ℎ𝑖𝑠𝑝𝑟𝑖𝑐𝑒𝑏𝑦𝑚𝑜𝑟𝑒𝑡ℎ𝑎𝑛1perunit.()第8题Foramonopolistwhofacesadownward-slopingdemandcurve,marginalrevenueislessthanpricewheneverquantitysoldispositive.()第9题Ifheproducesanythingatall,aprofit-maximizingmonopolistwithsomefixedcostsandnovaria