曼昆《经济学原理》（微观）第五版测试题库 (14).docx

曼昆《经济学原理》（微观）第五版测试题库 (14).docx

《曼昆《经济学原理》（微观）第五版测试题库 (14).docx》由会员分享，可在线阅读，更多相关《曼昆《经济学原理》（微观）第五版测试题库 (14).docx（73页珍藏版）》请在冰豆网上搜索。

Chapter14

FirmsinCompetitiveMarkets

TRUE/FALSE

1.Forafirmoperatinginaperfectlycompetitiveindustry,totalrevenue,marginalrevenue,andaveragerevenueareallequal.

ANS:

F DIF:

2 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

Averagerevenue |MarginalrevenueMSC:

Interpretive

2.Forafirmoperatinginaperfectlycompetitiveindustry,marginalrevenueandaveragerevenueareequal.ANS:

T DIF:

2 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

Averagerevenue |MarginalrevenueMSC:

Interpretive

3.Ifafirmnoticesthatitsaveragerevenueequalsthecurrentmarketprice,thatfirmmustbeparticipatinginacompetitivemarket.

ANS:

F DIF:

2 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

AveragerevenueMSC:

Interpretive

4.Aprofit-maximizingfirminacompetitivemarketwillincreaseproductionwhenaveragerevenueexceedsmarginalcost.

ANS:

T DIF:

2 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

AveragerevenueMSC:

Interpretive

5.Becausetherearemanybuyersandsellersinaperfectlycompetitivemarket,noonesellercaninfluencethemarketprice.

ANS:

T DIF:

1 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

CompetitivemarketsMSC:

Definitional

6.Firmsoperatinginperfectlycompetitivemarketstrytomaximizeprofits.

ANS:

T DIF:

2 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

ProfitmaximizationMSC:

Applicative

7.Incompetitivemarkets,firmsthatraisetheirpricesaretypicallyrewardedwithlargerprofits.ANS:

F DIF:

2 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

CompetitivemarketsMSC:

Interpretive

8.Whenanindividualfirminacompetitivemarketincreasesitsproduction,itislikelythatthemarketpricewillfall.

ANS:

F DIF:

2 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

CompetitivemarketsMSC:

Interpretive

9.Inacompetitivemarket,firmsareunabletodifferentiatetheirproductfromthatofotherproducers.ANS:

T DIF:

1 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

CompetitivemarketsMSC:

Interpretive

10.Firmsinacompetitivemarketaresaidtobepricetakersbecausetherearemanysellersinthemarketandthegoodsofferedbythefirmsareverysimilarifnotidentical.

ANS:

T DIF:

2 REF:

14-1 NAT:

Analytic

LOC:

Perfectcompetition TOP:

CompetitivemarketsMSC:

Interpretive

929

930 v Chapter14/FirmsinCompetitiveMarkets

11.Afirm'sincentivetocomparemarginalrevenueandmarginalcostisanapplicationoftheprinciplethatrationalpeoplethinkatthemargin.

ANS:

T DIF:

1 REF:

14-2 NAT:

Analytic

LOC:

Perfectcompetition TOP:

ProfitmaximizationMSC:

Interpretive

12.Bycomparingthemarginalrevenueandmarginalcostfromeachunitproduced,afirminacompetitivemarketcandeterminetheprofit-maximizinglevelofproduction.

ANS:

T DIF:

2 REF:

14-2 NAT:

Analytic

LOC:

Perfectcompetition TOP:

ProfitmaximizationMSC:

Interpretive

13.Firmsoperatinginperfectlycompetitivemarketsproduceanoutputlevelwheremarginalrevenueequalsmarginalcost.

ANS:

T DIF:

2 REF:

14-2 NAT:

Analytic

LOC:

Perfectcompetition TOP:

MarginalrevenueMSC:

Applicative

14.Afirmiscurrentlyproducing100unitsofoutputperday.Themanagerreportstotheownerthatproducingthe100thunitcoststhefirm$5.Thefirmcansellthe100thunitfor$4.75. Thefirmshouldcontinuetoproduce100unitsinordertomaximizeitsprofits（orminimizeitslosses）.

ANS:

F DIF:

2 REF:

14-2 NAT:

Analytic

LOC:

Perfectcompetition TOP:

ProfitmaximizationMSC:

Analytical

15.Afirmiscurrentlyproducing100unitsofoutputperday.Themanagerreportstotheownerthatproducingthe100thunitcoststhefirm$5.Thefirmcansellthe100thunitfor$5. Thefirmshouldcontinuetoproduce100unitsinordertomaximizeitsprofits（orminimizeitslosses）.

ANS:

T DIF:

2 REF:

14-2 NAT:

Analytic

LOC:

Perfectcompetition TOP:

ProfitmaximizationMSC:

Analytical

16.Afirmiscurrentlyproducing100unitsofoutputperday.Themanagerreportstotheownerthatproducingthe100thunitcoststhefirm$5.Thefirmcanselltheunitfor$6.Thefirmshouldproducemorethan100unitsinordertomaximizeitsprofits（orminimizeitslosses）.

ANS:

T DIF:

2 REF:

14-2 NAT:

Analytic

LOC:

Perfectcompetition TOP:

ProfitmaximizationMSC:

Analytical

17.Adairyfarmermustbeabletocalculatesunkcostsinordertodeterminehowmuchrevenuethefarmreceivesforthetypicalgallonofmilk.

ANS:

F DIF:

1

REF:

14-2

NAT:

Analytic

LOC:

Perfectcompetition

TOP:

Sunkcosts

MSC:

Interpretive

18.Becausenothingcanbedoneaboutsunkcosts,theyareirrelevanttodecisionsaboutbusinessstrategy.

ANS:

T DIF:

2

REF:

14-2

NAT:

Analytic

LOC:

Perfectcompetition

TOP:

Sunkcosts

MSC:

Interpretive

19.Aminiaturegolfcourseisagoodexampleofwherefixedcostsbecomerelevan