微观经济学62.docx
《微观经济学62.docx》由会员分享,可在线阅读,更多相关《微观经济学62.docx(18页珍藏版)》请在冰豆网上搜索。
微观经济学62
chapter6
Description
本次测验由二十个选择题组成
Thisassessmentisworth50points.
Note:
CorrectanswersappearinBlue.IncorrectanswersandskippedquestionsappearinRedafter'Yourresponse'.
1.Ofthefollowingcharacteristics,whichoneappliesexclusivelytoaperfectlycompetitivefirm?
(2.50points)
Yourresponse:
e.
Ithasanarrowrangeofpricesitcanchargeforitsoutput.
Feedback:
LearningObjective:
Profit-maximizingfirmsinperfectlycom
LevelofLearning:
Comprehension
Source:
Unique
Type:
WordProblem
0pointsawarded.
Thecorrectansweris:
a.Italwaysearnsaprofit.
b.Itseeksonlytominimizecosts.
c.Itcansellallitwantstoatthemarketprice.
d.Itwillneverearnaprofit.
e.Ithasanarrowrangeofpricesitcanchargeforitsoutput.
2.Theshortrunisdefinedas
(2.50points)
Yourresponse:
d.
aperiodinwhichatleastonefactorofproductionisfixed.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
ProductioninShortRun
LevelofLearning:
Knowledge
Source:
Unique
Type:
WordProblem
2.50pointsawarded.
Thecorrectansweris:
a.oneyearorless.
b.aperiodinwhichallfactorsofproductionarevariable.
c.theperiodoftimebetweenquarterlyaccountingreports.
d.aperiodinwhichatleastonefactorofproductionisfixed.
e.aperiodinwhichatmostonefactorofproductionisfixed.
3.Conditionsthatarenecessaryforamarkettobeperfectlycompetitiveinclude:
(2.50points)
Yourresponse:
e.
AandCbutnotB.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
Profit-maximizingfirmsinperfectlycom
LevelofLearning:
Comprehension
Source:
Unique
Type:
WordProblem
2.50pointsawarded.
Thecorrectansweris:
a.Thefirmssellastandardizedproduct.
b.Marketdemandfortheproductisperfectlyelastic.
c.Firmscaneasilybuyandselltheproductiveresourcesnecessarytocompeteinthemarket.
d.A,B,andC.
e.AandCbutnotB.
4.
Reference:
6-3
Ifthemarketpriceforthisgoodis$6,howmanyunitswouldthissupplierproduce?
(2.50points)
Yourresponse:
d.
300
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
Thinkingaboutsupply
LevelofLearning:
Application
Source:
Unique
Type:
CalculationProblem
2.50pointsawarded.
Thecorrectansweris:
a.50
b.150
c.250
d.300
e.350ormore
5.Onereasonthatvariablefactorsofproductiontendtoshowdiminishingreturnsintheshortrunisthat
(2.50points)
Yourresponse:
c.
therearetoomanyworkersusingafixedamountofproductiveresources.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
ProductioninShortRun
LevelofLearning:
Application
Source:
Unique
Type:
WordProblem
2.50pointsawarded.
Thecorrectansweris:
a.costsaretoohigh.
b.toomuchcapitalequipmentisidle.
c.therearetoomanyworkersusingafixedamountofproductiveresources.
d.thefirmhasbecometoolargetoeffectivelymanageworkers.
e.thecostofhiringadditionalworkersincreasesasfirmsseektohiremore.
6.Supposeafirmiscollecting$1,250intotalrevenuesandthetotalcostsofitsvariablefactorsofproductionare$1,000atitscurrentlevelofoutput.Intheshortrun,onecanpredictthatthefirmwill
(2.50points)
Yourresponse:
d.
continuetooperate.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
Discusstheshutdownpoint
LevelofLearning:
Application
Source:
Unique
Type:
CalculationProblem
2.50pointsawarded.
Thecorrectansweris:
a.shutdown.
b.earnaprofit.
c.earnaloss.
d.continuetooperate.
e.raiseitsprice.
7.Afirm'soutputpriceis$8andthefirmisproducing77unitswithamarginalcostof$11.Thefirmshould
(2.50points)
Yourresponse:
b.
decreaseproduction.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
Applypriceequalsmarginalcostrule
LevelofLearning:
Application
Source:
Unique
Type:
CalculationProblem
2.50pointsawarded.
Thecorrectansweris:
a.loweritsprice.
b.decreaseproduction.
c.increaseproduction.
d.raiseitsprice.
e.hiremoreworkers.
8.
Reference:
6-14
WhenthedemandisP2=$15,whatistheprofitmaximizingoutput?
(2.50points)
Yourresponse:
c.
60
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
GraphicalApproachtoProfit-Max
LevelofLearning:
Application
Source:
Unique
Type:
CalculationProblem
2.50pointsawarded.
Thecorrectansweris:
a.30
b.45
c.60
d.80
e.100
9.Supposeafirmiscollecting$1345intotalrevenuesandthetotalcostofitsfixedfactorsofproductionrisefrom$200to$300.Onecanspeculatethatthefirmwill
(2.50points)
Yourresponse:
e.
earnsmallerprofitsorgreaterlosses.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
Fixedcosts&profitmaximizingoutput
LevelofLearning:
Application
Source:
Unique
Type:
CalculationProblem
2.50pointsawarded.
Thecorrectansweris:
a.expandoutput.
b.raiseprice.
c.earngreaterprofitsorsmallerlosses.
d.contractoutput.
e.earnsmallerprofitsorgreaterlosses.
10.
Reference:
6-14
WhenthedemandisP2=$15,thisfirmshould______.
(2.50points)
Yourresponse:
c.
keepoperatingaslongaslossisnotgreaterthantotalcost.
Feedback:
LearningObjective:
GraphicalApproachtoProfit-Max
LevelofLearning:
Application
Source:
Unique
Type:
CalculationProblem
0pointsawarded.
Thecorrectansweris:
a.continueoperateintheshortrunandthinkaboutshuttingdowninthelongrun.
b.discontinueoperationintheshortrunsincethereisalosswhenoperating.
c.keepoperatingaslongaslossisnotgreaterthantotalcost.
d.discontinueoperationintheshortrunsinceaveragevariablecostisgreaterthanprice.
e.discontinueoperationintheshortrunsinceaveragetotalcostisgreaterthanprice.
11.
Reference:
6-3
Ifthemarketconsistsof50identicalsellers,howmuchwillbesuppliedatthepriceof$14?
(2.50points)
Yourresponse:
d.
17,500
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
Thinkingaboutsupply
LevelofLearning:
Application
Source:
Unique
Type:
CalculationProblem
2.50pointsawarded.
Thecorrectansweris:
a.350
b.1,750
c.35,000
d.17,500
e.175,000
12.Whichofthefollowingwouldcausesupplytoshifttotheleft?
(2.50points)
Yourresponse:
c.
Thepriceofthegoodfalls.
Feedback:
LearningObjective:
Discussthedeterminantsofsupply
LevelofLearning:
Application
Source:
Unique
Type:
WordProblem
0pointsawarded.
Thecorrectansweris:
a.Wagesrise.
b.Demandforthegoodfalls.
c.Thepriceofthegoodfalls.
d.Expectationsaboutfuturedemandimprove.
e.Thenumberoffirmsintheindustryrises.
13.Congestionoftheworkspaceandfixedfactorsofproductionatthefirm
(2.50points)
Yourresponse:
c.
demonstratethelawofdiminishingmarginalreturns.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
Lawofdiminishingmarginalreturns
LevelofLearning:
Comprehension
Source:
Unique
Type:
WordProblem
2.50pointsawarded.
Thecorrectansweris:
a.explainhighemployeeturnover.
b.causeincreasedworkspaceviolence.
c.demonstratethelawofdiminishingmarginalreturns.
d.explaindecreasedemployeemorale.
e.resultinincreasedself-employment.
14.ThisgraphshowsthecostfunctionsofMoe'smushroomgatheringbusiness,whichisperfectlycompetitive.
Reference:
6-13
Moe'ssupplycurveis
(2.50points)
Yourresponse:
e.
curveAabovecurveC.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
MarginalCostasSupplyCurve
LevelofLearning:
Application
Source:
Unique
Type:
GraphicalProblem
2.50pointsawarded.
Thecorrectansweris:
a.notshownonthisgraph.
b.curveCtotherightofcurveA.
c.curveBtotherightofcurveA.
d.curveAabovecurveB.
e.curveAabovecurveC.
15.
*Pizzassellfor$10apie.
Reference:
6-10
Whenthepizzashopemploys3workersperday,itwillexperience______intotalcost.
(2.50points)
Yourresponse:
e.
$950
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
CalculateTR,TC,andprofits
LevelofLearning:
Application
Source:
Unique
Type:
CalculationProblem
2.50pointsawarded.
Thecorrectansweris:
a.$100
b.$450
c.$500
d.$850
e.$950
16.Partoftheupwardslopingportionofthemarginalcostcurveisthefirm's
(2.50points)
Yourresponse:
c.
supplycurve.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
Marginalcostsandthesupplycurve
LevelofLearning:
Comprehension
Source:
Unique
Type:
WordProblem
2.50pointsawarded.
Thecorrectansweris:
a.productionfunction.
b.totalcostcurve.
c.supplycurve.
d.diminishingmarginalreturnscurve.
e.profitcurve.
17.Firmsmaximizeprofitwhen
(2.50points)
Yourresponse:
d.
marginalcostsequalprice.
(Youansweredcorrectly!
)
Feedback:
LearningObjective:
Applypriceequalsmarginalcostrule
LevelofLearning:
Comprehension
Source:
Unique
Type:
WordProblem
2.50pointsawarded.
Thecorrectansweris:
a.averagecostsareminimized.
b.totalcostsareminimized.
c.averagecostsequalprice.
d.marginalcostsequalprice.
e.Alloftheabovearenecessaryforprofitmaximization.
18.Whatmightcauseasupplyfunctiontoshifttotheleft?
(2.50points)
Yourresponse:
b.
Anexpectationthattheproduct'sownpricewillfallinthefuture.
Feedback:
LearningObjective:
Discussthedeterminantsofsupply
LevelofLearning:
Application
Source:
Unique
Type:
WordProblem
0pointsawarded.
Thecorrectanswer