微观经济学(英文)试卷

1、内蒙古农业大学2011/2012学年第 一 学期微观经济学课程考试试卷（A）题 号一二三四五总分分 值1520202025100得 分Please print. If the answer is unrecognizable, it will be counted as wrong answer. You should answer in English or Chinese, numbers, or graphs.GradeGrader. Concepts（3 points each, total 15 points）1. Opportunity cost2. Externality3. D

2、eadweight loss4. Competitive market5. Diminishing marginal product Grade Grader . True or False Questions (2 points each，total 20 points)( f ) 1.If apple and orange are substitutes, when price of apple increases, then the demand for orange decreases.( f ) 2.The price elasticity of demand remains con

3、stant along a linear demand curve. ( t ) 3.When price ceiling is below equilibrium price in a competitive market, the price ceiling is binding, and there is shortage in the market.( t ) 4.Total surplus is the values to buyers minus the cost to sellers. ( f ) 5. When taxed is levied on the good in a

4、competitive market, the tax revenue got by the government equals the fall in producer and consumer surplus.( f ) 6. If the world price of a good exceeds the domestic price, the country should import the good instead to export it.( t ) 7.In the presence of a negative externality, Qoptimum is therefor

5、e larger than the Qmarket.( f ) 8.Price always equals to marginal revenue for all kinds of firms.( t ) 9. Demand curve for a monopoly firm is the market demand curve.( f ) 10.In the long run, monopolistic competitive firms produce at their lowest average total cost. 试卷（A / B） 第 页（共 页）Grade Grader .

6、Single Choice Questions (2 points each，total 20 points) ( d ) 1. If the cross-price elasticity of demand for two goods is negative, these two good are?A. Luxury goods.B. Necessities. C. Substitutes.D. Complements.( a ) 2. Although buyers and sellers share the burden of tax together, sellers share mo

7、re if the good is_A. Food.B. Clothes. C. Housing.D. Entertainment good.( c ) 3.Consumer surplus is the area A. Above the supply curve and below the price.B. Below the supply curve and below the priceC. Below the demand curve and above the priceD. Below the demand curve and below the price( a ) 4.If

8、we double the size of tax under the perfectly competitive market, so the deadweight loss _ A. Is four times as the original one.B. Is twice as the original one.C. Remain the sameD. May increase or decrease. ( b ) 5. Which of the following items is an example of public goods?A. Fishes in the ocean.B.

9、 National defense.C. Apples on a households apple tree.D. Hot dogs in a picnic.( ) 6. If the production function has the attribute of diminishing marginal returns, the slope of the total cost curve which is associated with the production functionA. Increases when produced quantity increaseB. Decreas

10、es when produced quantity increase.C. Remains the same.D. May be any one mentioned above.( d ) 7. If the marginal cost curve is below the average total cost curve,_. A. Average total cost increases.B. Average fixed cost increases.C. Average total cost achieves its minimum.D. Average total cost decre

11、ases.( b ) 8. If a competitive firm achieve its long-run equilibrium state, A. Its average total cost achieves its minimum.B. Marginal cost equals marginal revenue.C. It gets zero economic profit.D. All the items mentioned above are correct.( a ) 9. The inefficiency of monopoly is caused by_ A. Defi

12、cient production of monopoly. B. Overproduction of monopoly.C. Monopolistic profit.D. Monopolistic loss. ( a ) 10.The meaning of “monopolistic” in “monopolistic competition” is _ A. monopolistic competitive firm faces a downward sloping demand curve. B. monopolistic competitive firm can freely enter

13、 and exit the market. C. monopolistic competitive firm charges the price as its marginal cost. D. monopolistic competitive firm produce at its efficient scale. Grade Grader . Problems for calculation (total 20 points) 1. The monopolys cost is a function of its output, which is C(Q)=Q2+12, and the mo

14、nopoly faces the linear inverse demand function: P=24Q (total 10 points)(1) Calculate following items: marginal cost, average fixed cost, average variable cost, average total cost, and marginal revenue (5 points)(2) Calculate profit-maximizing output (2 points) and profit-maximizing price (1 point),

15、 determine its economic profit (2 points)2. The following is the demand schedule for consumers of watching two identical baseball games in a city. The baseball field and baseball players for these two teams are freely provided by the baseball league (total 10points)Price (dollars)Quantity demanded60

16、510004200033000240001500006000(1) If it is a perfectly competitive market, determine the price and quantity. (2 points)(2)If the duopoly makes collusion to become a cartel, determine the price, quantity and profit for each firm if the only goal for them is profit maximizing. (3 points)(3)If they fai

17、l to make collusion, determine their individual profit if Nash equilibrium is achieved. (3 points)(4)Draw out two teams strategies about their outputs and profits (Note: Use the chart of prisoner dilemma shown in our textbook, please). (2 points)Grade Grader . Short answers items (total 25 points)1.

18、 Why firms in a perfectly competitive market produce at their efficient scales when they achieve their long run equilibrium? (5points)完全竞争厂商在长期内对全部生产要素的调整可以表现为两个方面：一方面表现为厂商进入或退出一个行业，这也就是行业内企业数量的调整；另一方面表现为厂商对生产规模的调整。完全竞争厂商的长期均衡就是通过这两个方面的调整而实现的。一、长期内厂商的生产调整及最优生产规模的选择在长期内，如果行业内的单个厂商可以获得超额利润，则会吸引其它新的厂商加

19、入到该行业的生产中来。随着新厂商的加入，行业内的厂商数目增加，整个行业的供给就会增加，市场价格就会下降，而且会一直下降到使单个厂商的超额利润消失为止。相反，如果行业内的单个厂商的生产是亏损的，则行业内原有厂商中的一部分就会自动退出生产。随着原有厂商的退出，行业内厂商的数目就会减少，整个行业的供给就会减少，市场价格就会上升，而且会一直上升到使单个厂商的亏损消失为止。最后，由于行业中的每一个厂商都处于一种既无超额利润又无亏损的状态，行业内厂商的进入和退出也就停止了，于是，完全竞争厂商便处于一种长期均衡状态。2. When a country allows trade and becomes an exporter of a good, who will become