5学原理》微观第五版测试题库 15.docx
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5学原理》微观第五版测试题库15
Chapter15
Monopoly
TRUE/FALSE
1.Monopolistscanachieveanylevelofprofittheydesirebecausetheyhaveunlimitedmarketpower.
ANS:
FDIF:
2REF:
15-0NAT:
Analytic
LOC:
MonopolyTOP:
MonopolyMSC:
Interpretive
2.Evenwithmarketpower,monopolistscannotachieveanylevelofprofittheydesirebecausetheywillselllowerquantitiesathigherprices.
ANS:
TDIF:
2REF:
15-0NAT:
Analytic
LOC:
MonopolyTOP:
MonopolyMSC:
Interpretive
3.Onecharacteristicofamonopolymarketisthattheproductisvirtuallyidenticaltoproductsproducedbycompetingfirms.
ANS:
FDIF:
2REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
MonopolyMSC:
Definitional
4.Thefundamentalcauseofmonopoliesisbarrierstoentry.
ANS:
TDIF:
2REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
MonopolyMSC:
Interpretive
5.TheDeBeersDiamondcompanyadvertisesheavilytopromotethesaleofalldiamonds,notjustitsown.Thisisevidencethatithasamonopolypositiontosomedegree.
ANS:
TDIF:
1REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
MonopolyMSC:
Interpretive
6.TheDeBeersDiamondcompanyisnotworriedaboutdifferentiatingitsproductfromallothergemstones.
ANS:
FDIF:
1REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
MonopolyMSC:
Interpretive
7.Theamountofpowerthatamonopolyhasdependsonwhetherthereareclosesubstitutesforitsproduct.
ANS:
TDIF:
1REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
MonopolyMSC:
Interpretive
8.IftheABCcompanyownstheexclusiverightstominelandinAfghanistanforLapisLazuli,ararestoneusedinjewelrywhichisfoundonlyinAfghanistan,thecompanybenefitsfromabarriertoentry.
ANS:
TDIF:
1REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
MonopolyMSC:
Applicative
9.Copyrightsandpatentsareexamplesofbarrierstoentrythataffordfirmsmonopolypricingpowers.
ANS:
TDIF:
2REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
PatentsMSC:
Interpretive
10.Ifthegovernmentdeemsanewlyinventeddrugtobetrulyoriginal,thepharmaceuticalcompanyisgiventheexclusiverighttomanufactureandsellthedrugfor50years.
ANS:
FDIF:
1REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
PatentsMSC:
Interpretive
11.Anaturalmonopolyhaseconomiesofscaleformostifnotallofitsrangeofoutput.
ANS:
TDIF:
2REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
NaturalmonopolyMSC:
Applicative
12.Decliningaveragetotalcostwithincreasedproductionisoneofthedefiningcharacteristicsofanaturalmonopoly.
ANS:
TDIF:
1REF:
15-1NAT:
Analytic
LOC:
MonopolyTOP:
NaturalmonopolyMSC:
Definitional
13.Amonopolistmaximizesprofitbyproducinganoutputlevelwheremarginalcostequalsprice.
ANS:
FDIF:
2REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
ProfitmaximizationMSC:
Interpretive
14.Amonopolistproducesanoutputlevelwheremarginalrevenueequalsmarginalcostandchargesapricewheremarginalcostequalsaveragetotalcost.
ANS:
FDIF:
2REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
ProfitmaximizationMSC:
Applicative
15.Averagerevenueforamonopolyisthetotalrevenuedividedbythequantityproduced.
ANS:
TDIF:
1REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
AveragerevenueMSC:
Definitional
16.Foramonopoly,marginalrevenueisoftengreaterthanthepricetheychargefortheirgood.
ANS:
FDIF:
1REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
MarginalrevenueMSC:
Interpretive
17.Likecompetitivefirms,monopolieschoosetoproduceaquantityinwhichmarginalrevenueequalsmarginalcost.
ANS:
TDIF:
2REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
ProfitmaximizationMSC:
Interpretive
18.Likecompetitivefirms,monopolieschargeapriceequaltomarginalcost.
ANS:
FDIF:
2REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
ProfitmaximizationMSC:
Interpretive
19.AmonopolistproduceswhereP>MC=MR.
ANS:
TDIF:
2REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
ProfitmaximizationMSC:
Interpretive
20.AmonopolistproduceswhereP=MC=MR.
ANS:
FDIF:
2REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
ProfitmaximizationMSC:
Interpretive
21.Amonopolistdoesnothaveasupplycurvebecausethefirm’sdecisionabouthowmuchtosupplyisimpossibletoseparatefromthedemandcurveitfaces.
ANS:
TDIF:
2REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
SupplycurveMSC:
Interpretive
22.Amonopolist’ssupplycurveisvertical.
ANS:
FDIF:
1REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
SupplycurveMSC:
Applicative
23.Amonopolist’ssupplycurveishorizontal.
ANS:
FDIF:
1REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
SupplycurveMSC:
Applicative
24.Duringthelifeofadrugpatent,themonopolypharmaceuticalfirmmaximizesprofitbyproducingthequantityatwhichmarginalrevenueequalsmarginalcost.
ANS:
TDIF:
1REF:
15-2NAT:
Analytic
LOC:
MonopolyTOP:
ProfitmaximizationMSC:
Interpretive
25.Thesociallyefficientquantityisfoundwherethedemandcurveintersectsthemarginalcostcurve.
ANS:
TDIF:
2REF:
15-3NAT:
Analytic
LOC:
MonopolyTOP:
DeadweightlossMSC:
Interpretive
26.Thedeadweightlossforamonopolistequalsone-halfofitsprofitsforanygivenlevelofoutput.
ANS:
FDIF:
2REF:
15-3NAT:
Analytic
LOC:
MonopolyTOP:
DeadweightlossMSC:
Interpretive
27.Amonopolycreatesadeadweightlosstosocietybecauseitearnsbothshort-runandlong-runpositiveeconomicprofits.
ANS:
FDIF:
2REF:
15-3NAT:
Analytic
LOC:
MonopolyTOP:
DeadweightlossMSC:
Interpretive
28.Amonopolycreatesadeadweightlosstosocietybecauseitproduceslessoutputthanthesociallyefficientlevel.
ANS:
TDIF:
2REF:
15-3NAT:
Analytic
LOC:
MonopolyTOP:
DeadweightlossMSC:
Interpretive
29.Supposeaprofit-maximizingmonopolistfacesaconstantmarginalcostof$10,producesanoutputlevelof100units,andchargesapriceof$50.Thesociallyefficientlevelofoutputis200units.Assumethatthedemandcurveandmarginalrevenuecurvearethetypicaldownward-slopingstraightlines.Themonopolydeadweightlossequals$4,000.
ANS:
FDIF:
3REF:
15-3NAT:
Analytic
LOC:
MonopolyTOP:
DeadweightlossMSC:
Analytical
30.Supposeaprofit-maximizingmonopolistfacesaconstantmarginalcostof$10,producesanoutputlevelof100units,andchargesapriceof$50.Thesociallyefficientlevelofoutputis200units.Assumethatthedemandcurveandmarginalrevenuecurvearethetypicaldownward-slopingstraightlines.Themonopolydeadweightlossequals$2,000.
ANS:
TDIF:
3REF:
15-3NAT:
Analytic
LOC:
MonopolyTOP:
DeadweightlossMSC:
Analytical
31.Supposeaprofit-maximizingmonopolistfacesaconstantmarginalcostof$20,producesanoutputlevelof100units,andchargesapriceof$50.Thesociallyefficientlevelofoutputis200units.Assumethatthedemandcurveandmarginalrevenuecurvearethetypicaldownward-slopingstraightlines.Themonopolydeadweightlossequals$1,500.
ANS:
TDIF:
3REF:
15-3NAT:
Analytic
LOC:
MonopolyTOP:
DeadweightlossMSC:
Analytical
32.Inorderforafirmtomaximizeprofitsthroughpricediscrimination,thefirmmusthavesomemarketpowerandbeabletopreventarbitrage.
ANS:
TDIF:
2REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
PricediscriminationMSC:
Interpretive
33.Pricediscriminationisprohibitedbyantitrustlaws.
ANS:
FDIF:
2REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
PricediscriminationMSC:
Interpretive
34.Amonopolistearnshigherprofitsbychargingonepricethanbypracticingpricediscrimination.
ANS:
FDIF:
3REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
PricediscriminationMSC:
Interpretive
35.Amonopolistthatcanpracticeperfectpricediscriminationwillnotimposeadeadweightlossonsociety.
ANS:
TDIF:
3REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
PerfectpricediscriminationMSC:
Interpretive
36.Bysellinghardcoverbookstodie-hardfansandpaperbackbookstolessenthusiasticreaders,thepublisherisabletopricediscriminateandraiseitsprofits.
ANS:
TDIF:
1REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
PricediscriminationMSC:
Interpretive
37.Movietheatreschargedifferentpricestodifferentgroupsofpeoplebasedonthedifferingmarginalcoststhatexistfromgrouptogroup.
ANS:
FDIF:
1REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
PricediscriminationMSC:
Interpretive
38.AirlinesoftenseparatetheircustomersintobusinesstravelersandpersonaltravelersbygivingadiscounttothosetravelerswhostayoveraSaturdaynight.
ANS:
TDIF:
1REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
PricediscriminationMSC:
Interpretive
39.Universityfinancialaidcanbeviewedasatypeofpricediscrimination.
ANS:
TDIF:
1REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
PricediscriminationMSC:
Interpretive
40.Byofferinglowerpricestocustomerswhobuyalargequantity,amonopolyispricediscriminating.
ANS:
TDIF:
1REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
PricediscriminationMSC:
Interpretive
41.Goodsthatdonothaveclosesubstituteshavedownward-slopingdemandcurves.
ANS:
TDIF:
1REF:
15-4NAT:
Analytic
LOC:
MonopolyTOP:
DemandcurveMSC:
Interpretive
42.Ifthegovernmentregulatesthepriceanaturalmonopolistcanchargetobeequaltothefirm’saveragetotalcost,thefirmhasnoincentivetoreducecosts.
ANS:
TDIF:
2REF:
15-5NAT:
Analytic
LOC:
MonopolyTOP:
RegulationMSC:
Interpretive
43.Ifthegovernmentregulatesthepriceanaturalmonopolistcanchargetobeequaltothefirm’smarginalcost,thegovernmentwilllikelyneedtosubsidizethefirm.
ANS:
TDIF:
2REF:
15-5NAT:
Analytic
LOC:
MonopolyTOP:
RegulationMSC:
Interpretive
44.AntitrustlawsgivetheJusticeDepartmenttheauthoritytochallengepotentialmergersbetweencompaniesinanefforttosafeguardsocietyfrommonopolypower.
ANS:
TDIF:
1REF:
15-5NAT:
Analytic
LOC:
MonopolyTOP:
AntitrustMSC:
Interpretive
45.Somec