微观经济学期末考试-2013级

1、微观经济学,期末考试,时间地点,时间：2013年12月26日（17周周四） 晚上18:30 - 20:00 地点：教二楼 001-工商1、2、3班 002-工商4、5、6班 005-工商7、8班 007-电商、行管、信管1班 008-信管2班、营职1、2班,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,. MULTIPLE CHOICES（单项选择 20*2） . TRUE/FALSE（判断 10*2） . CALCULATION（计算 5*4） . GRAPHICALLY ANALYSES（作图分析 2*10）,MULTIPLE C

2、HOICES,In the circular-flow diagram, a. factors of production flow from government to firms. b. goods and services flow from households to firms. c. income paid to the factors of production flows from firms to households. d. spending on goods and services flows from firms to households.,ANS:C,MULTIP

3、LE CHOICES,What will happen to the equilibrium price and quantity of new cars if the price of gasoline rises, the price of steel rises, public transportation becomes cheaper and more comfortable, and auto-workers negotiate higher wages? a. Price will fall, and the effect on quantity is ambiguous. b.

4、 Price will rise, and the effect on quantity is ambiguous. c. Quantity will fall, and the effect on price is ambiguous. d. Quantity will rise, and the effect on price is ambiguous.,ANS:C,MULTIPLE CHOICES,For a particular good, a 10 percent increase in price causes a 5 percent decrease in quantity de

5、manded. Which of the following statements is most likely applicable to this good? a. There are many close substitutes for this good. b. The good is a necessity. c. The market for the good is narrowly defined. d. The relevant time horizon is long.,ANS:B,MULTIPLE CHOICES,When the price of a good is $5

6、, the quantity demanded is 100 units per month; when the price is $7, the quantity demanded is 80 units per month. Using the midpoint method, the price elasticity of demand is about a. 0.22. b. 0.67. c. 1.33. d. 1.50.,ANS:B,MULTIPLE CHOICES,The difference between accounting profit and economic profi

7、t is a. explicit costs. b. implicit costs. c. total revenue. d. marginal product.,ANS:B,MULTIPLE CHOICES,The efficient scale of the firm is the quantity of output that a. maximizes marginal product. b. maximizes profit. c. minimizes average total cost. d. minimizes average variable cost.,ANS:C,MULTI

8、PLE CHOICES,In the short run, a firm operating in a competitive industry will shut down if price is a. less than average total cost. b. less than average variable cost. c. greater than average variable cost but less than average total cost. d. greater than marginal cost.,ANS:B,MULTIPLE CHOICES,Which

9、 of the following is a characteristic of a natural monopoly? a. Fixed costs are typically a small portion of total costs. b. Average total cost declines over large regions of output. c. The product sold is a natural resource such as diamonds or water. d. All of the above are correct.,ANS:B,MULTIPLE

10、CHOICES,For a profit-maximizing monopolist, a. PMR = MC. b. P = MR = MC. c. P MR MC. d. MR MC P.,ANS:A,Refer to Figure 1. The price paid by buyers after the tax is imposed is a.$3. b.$4. c.$5. d.$7.,Figure 1,MULTIPLE CHOICES,ANS:D,Refer to Figure 1. Which of the following is correct? a. 1/4 of the b

11、urden of the tax falls on buyers, and 3/4 of the burden of the tax falls on sellers. b. 1/3 of the burden of the tax falls on buyers, and 2/3 of the burden of the tax falls on sellers. c. 1/2 of the burden of the tax falls on buyers, and 1/2 of the burden of the tax falls on sellers. d. 2/3 of the b

12、urden of the tax falls on buyers, and 1/3 of the burden of the tax falls on sellers.,Figure 1,MULTIPLE CHOICES,ANS:D,Refer to Figure 1. How much tax revenue does this tax produce for the government? a.$24. b.$30. c.$32. d.$56.,Figure 1,MULTIPLE CHOICES,ANS:A,Refer to Figure 2. If the market price is

13、 $10, what is the firms short-run economic profit? a.$9. b.$15. c.$30. d.$50.,Figure 2,MULTIPLE CHOICES,ANS:B,Refer to Figure 2. The firm will earn zero economic profit if the market price is a.$0. b.$6. c.$7. d.$10.,Figure 2,MULTIPLE CHOICES,ANS:B,TRUE/FALSE Economic growth causes a production poss

14、ibilities frontier to shift outward.,ANS: T,TRUE/FALSE If the demand for a good falls when income falls, then the good is called an inferior good.,ANS: F,TRUE/FALSE A If we observe that when the price of chocolate increases by 10%, total revenue increases by 10%, then the demand for chocolate is uni

15、t price elastic.,ANS: F,TRUE/FALSE,A tax burden falls more heavily on the side of the market that is less elastic.,ANS: T,The area below the demand curve and above the supply curve measures the producer surplus in a market.,TRUE/FALSE,ANS: F,TRUE/FALSE,If the marginal cost of producing the tenth uni

16、t of output is $3, and if the average total cost of producing the tenth unit of output is $2, then at ten units of output, average total cost is rising.,ANS: T,TRUE/FALSE,In the long run, a firm should exit the industry if its total costs exceed its total revenues.,ANS: T,TRUE/FALSE,Like competitive

17、 firms, monopolies choose to produce a quantity in which marginal revenue equals marginal cost.,ANS: T,CALCULATION,Producing a soccer ball costs Jake $5. He sells it to Darby for $35. Darby values the soccer ball at $50. For this transaction, the total surplus in the market is .,ANS: $45,CALCULATION

18、,A competitive firm is maximizing its profit by selling 150 units of output. The firms marginal cost is $8 and its average total cost is $6. The firms profit amounts to _.,ANS: $300,CALCULATION,If a monopolist can sell 7 units when the price is $4 and 8 units when the price is $3, then marginal reve

19、nue of selling the eighth unit is equal to .,ANS: -$4,GRAPHICALLY ANALYSES,Suppose we are analyzing the market for cars. Graphically illustrate the impact each of the following would have on demand or supply. Also show how equilibrium price and quantity have changed. a. A stock-market boom makes people wealthier. b. A strike by steelworkers raises steel prices.,GRAPHICALLY ANALYSES,a. Because cars are normal goods, an increase in peoples wealth will shift the demand curve for car to the right, both P and Q will rise.,GRAPHICALLY ANALYSES,b. Because steel is an input