Chapter8 Monopoly经济学英语题库.docx

Chapter8 Monopoly经济学英语题库.docx

《Chapter8 Monopoly经济学英语题库.docx》由会员分享，可在线阅读，更多相关《Chapter8 Monopoly经济学英语题库.docx（22页珍藏版）》请在冰豆网上搜索。

Chapter8Monopoly经济学英语题库

Chapter8Monopoly

MultipleChoice

1.Amonopoly

a.isprotectedbybarrierstoentry.

b.producesagoodwithnoclosesubstitutes.

c.hasadownward-slopingdemandcurve.

d.Alloftheaboveanswersarecorrect.

Answer:

d

2.Amonopoly

a.mustdeterminethepriceitwillcharge.

b.facesextensivecompetitionfromfirmsmakingclosesubstitutes.

c.cannotpricediscriminatebecausesuchapricingstrategyisillegalintheUnitedStates.

d.Alloftheaboveanswersarecorrect.

Answer:

a

3.Animportantcharacteristicofmonopolyisthatthereare____closesubstitutesforthegoodorservicesold.

a.onlyseveral

b.onlyafew

c.no

d.thousandsof

Answer:

c

4.Monopoliesarisewhenthereare

a.manysubstitutesbutnobarrierstoentry.

b.noclosesubstitutesandnobarrierstoentry.

c.noclosesubstitutesandbarrierstoentry.

d.manysubstitutesandbarrierstoentry.

Answer:

c

5.Amajorcharacteristicofmonopolyisthat

a.nobarrierstoentryexist.

b.theproductisidenticaltothatproducedbyothercompanies.

c.abarriertoentrykeepsoutcompetitors.

d.competitionisintense.

Answer:

c

6.Amonopolywillariseif

a.twooutofthreeofatown’spizzeriasgooutofbusinessandonlyonenewpizzeriaopens.

b.thetowncouncilpassesalawgrantingNick’sPizzatheexclusiverighttooperateinthattown.

c.PapaJoe’sPizzabecomesthelargestpizzaproducerintownandNick’sPizzastayssmallinsize.

d.severalbigpizzachainsforceseveralsmallpizzeriasoutofbusiness.

Answer:

b

7.Anaturalbarriertoentryisdefinedasabarrierthatarisesbecauseof

a.technologythatallowsproductionbyonefirmtomeetanentiremarket.

b.patentsorlicensesthatexcludeothersfromproducingagoodorservice.

c.manyfirmsproducingthegoodandtherebyallowingchoiceforallconsumers.

d.anticompetitivepracticesbyafirmthatkeepotherfirmsfromproducing.

Answer:

a

8.Naturalbarriersarisewhen,overtherelevantrangeofoutput,thereare

a.diseconomiesofscale.

b.constantreturnstoscale.

c.severalfirmswhoproduceatthelowestaveragecost.

d.economiesofscale.

Answer:

d

9.Foranaturalmonopoly,economiesofscale

a.existovertheentirelong-runaveragecostcurve.

b.anddiseconomiesofscaleexistovertheentirelong-runaveragecostcurve.

c.causelegalbarriersofentry.

d.aswellasconstantreturnstoscaleanddiseconomiesofscaleexistovertheentirelong-runaveragecostcurve.

Answer:

a

10.Anaturalmonopolyariseswhen

a.afirmcontrolsthesupplyofauniqueresource.

b.afirmhasmanysmallfirmsthattheycancontrol.

c.therearefirmswhichacttogetherasamonopoly.

d.thelong-runaveragecostcurveslopesdownwarduntilitcrossesthedemandcurve.

Answer:

d

11.Whichofthefollowingisanexampleofanaturalmonopoly?

a.thetrademarkprotectingGatoraide

b.thetalentsofTomHanks

c.thelocalwatercompany

d.thepatentonanIntelprocessor

Answer:

c

12.WhichofthefollowingisNOTanexampleofalegalbarriertoentry?

a.patents

b.ownershipoftheentiresupplyofaresource

c.copyrights

d.information

Answer:

d

13.IfPolaroidhasapatentoninstantcameras,thispatentmeansthat

a.noothercompanycanmakecameras.

b.noothercompanycanmakeaninstantcamera.

c.othercompaniescanusethenamePolaroidtomakecameras,justnotinstantcameras.

d.othercompaniescanmakeinstantcameras,butnotunderthenamePolaroid.

Answer:

b

14.TheU.S.PostalServicehasamonopolyoverfirst-classmailservicebecause

a.thegovernmenthasgrantedthisagencyapublicfranchise.

b.stampsarecopyrighted.

c.stampsaretrademarked.

d.stampsarepatented.

Answer:

a

15.ThemakersofthemoviePearlHarborhavesomemonopolypoweroverthisfilmbecausethe

a.movieispatented.

b.namePearlHarboristrademarked.

c.movieisprotectedbycopyrightlaw.

d.governmenthasissuedthemakerofthismovieapublicfranchise.

Answer:

c

16.Whichofthefollowingisanexampleofapersonorfirmthathasbeengrantedapublicfranchise?

a.medicaldoctor

b.taxicabdriver

c.thelocalpizzaparlor

d.thelocaltelephonecompany

Answer:

d

17.AgasstationinthemountainsofOregonhasamonopolyovertheretailgasmarketwithina50-mileradius.Thestationdecidesnottopricediscriminate.Asaresult,allconsumerswillpay

a.thehighestpriceeachconsumeriswillingtopay.

b.thelowestpricepossible.

c.asingleprice.

d.multipleprices.

Answer:

c

18.Aprice-discriminatingmonopolistisafirmthat

a.sellsitsoutputatasinglepricetoallofitscustomers.

b.sellsdifferentunitsofagoodorserviceatdifferentprices.

c.hascontrolovertheresourcesusedtoproducetheproduct.

d.hasalicensetoselltheproduct.

Answer:

b

19.Pricediscriminationis

a.illegalintheUnitedStates.

b.definedaschargingthesamepricetoallconsumers.

c.definedaschargingdifferentpricesfordifferentunits.

d.settingthepricetominimizethequantitysold.

Answer:

c

20.Movietheatersoftenpracticepricediscrimination.Pricediscriminationmeansthatmoviescharge

a.menhigherpricesthanwomen.

b.thesamelowpricetoeveryone.

c.thesamehighpricetoeveryone.

d.differentcustomersdifferentprices.

Answer:

d

21.Whichofthefollowingisanexampleofpricediscrimination?

a.UPSchargesmoreifapackageissentfromNewYorktoHawaiiandlessifitissentfromNewYorktoNewJersey.

b.Frank’sFurnitureshopchargesnodeliveryfeeforfurnituredeliveredwithinDutchessCountybutcharges$40deliveryfeeoutsideofthecounty.

c.Albertpays25percentlessonprescriptiondrugsbecauseheisaseniorcitizen.

d.Allareexamplesofpricediscrimination.

Answer:

c

22.Firmsthatcaneffectivelypricediscriminate

a.canbeeitherperfectlycompetitivefirmsormonopolies.

b.canpreventtheresaleoftheirproducts.

c.haveonlyoneclassofbuyers,buyerswillingtopayahighprice.

d.Noneoftheaboveanswersiscorrect.

Answer:

b

23.Ifamonopolistwantstosellagreaterquantityofoutput,itmust

a.loweritsprice.

b.raiseitsprice.

c.tellconsumerstobuymorebecauseit’samonopolist.

d.raiseitsmarginalcost.

Answer:

a

24.Asingle-pricemonopolist

a.mustpracticepricediscrimination.

b.canloweritspriceforonlyafewselectconsumersifitwantstoincreaseitsoutput.

c.willsetitspriceequaltoaconsumer’swillingnesstopay.

d.mustlowerthepriceforallcustomersifitwantstoincreaseitsoutput.

Answer:

d

25.Themarginalrevenueforasingle-pricemonopolistwithadownward-slopingdemandcurve

a.islessthantheprice.

b.isgreaterthantheprice.

c.isequaltotheprice.

d.mightbemorethan,lessthan,orequaltotheprice,dependingonwhethertheslopeofthedemandcurveexceeds1.0inmagnitude.

Answer:

a

26.Asingle-pricemonopolistfacesalinerdemandcurve.Ifthemarginalrevenueforthesecondunitis$20,thenthemarginalrevenueforthe

a.firstunitislessthan$20.

b.thirdunitislessthan$20.

c.thirdunitismorethan$20.

d.thirdunitisalso$20.

Answer:

b

27.Asingle-pricemonopolycansell2unitsfor$8.50perunit.Inordertosell3units,thepricemustbe$8.00perunit.Themarginalrevenuefromsellingthethirdunitis

a.$24.00.

b.$8.50.

c.$7.00.

d.$6.50.

Answer:

c

28.Supposeasingle-pricemonopolistsells3unitsofagoodat$20perunit.Ifthemonopolistsells4units,thetotalrevenueincreasesto$72.Whatisthemarginalrevenueofthefourthunit?

a.$52

b.$18

c.$60

d.$12

Answer:

d

29.Supposeasingle-pricemonopolistsells3unitsofagoodat$20perunit.Ifthemonopolistsells4units,thetotalrevenueincreasesto$72.Whatpriceisbeingchargedfor4units?

a.$52each

b.$18each

c.$60each

d.$12each

Answer:

b

30.Thedemandcurvefacingasingle-pricemonopolyis

a.belowthemarginalrevenuecurve.

b.abovethemarginalrevenuecurve.

c.thesameasthemarginalrevenuecurve.

d.thesameasthemarginalcostcurve.

Answer:

b

31.Therelationshipbetweenmarginalrevenueandelasticityis

a.whendemandiselasticmarginalrevenueispositiveandwhendemandisinelasticmarginalrevenueisnegative.

b.whenevertheelasticityispositive,marginalrevenueispositive.

c.whenevertheelasticityisnegative,marginalrevenueispositive.

d.whendemandiselasticmarginalrevenueisnegativeandwhendemandisinelasticmarginalrevenueispositive.

Answer:

a

32.IftheBostonRedSoxiscurrentlychargingticketpriceswhereitsdemandisinelastic,thentheRedSox’smarginalrevenueis

a.negative.

b.positive.

c.zero.

d.maximized.

Answer:

a

32.IfthesinglerestaurantinanEasternKentuckytowniscurrentlychargingpricesonitshamandeggswherethedemandisunitelastic,themarginalrevenueforhamandeggsis

a.negative.

b.positive.

c.zero.

d.maximized.

Answer:

c

33.Supposethatalongalineardemandcurve,theelasticityofdemandisequalto1whenthepriceis$4andthequantityis100units.Thenthe

a.totalrevenueisatitsmaximumwhen100unitsareproduced.

b.marginalrevenueispositiveat100units.

c.marginalrevenueisnegativeat100units.

d.Noneoftheaboveanswersiscorrect.

Answer:

a

34.Supposethatalongalineardemandcurve,theelasticityofdemandisequalto1whenthepriceis$4andthequantityis100units.Thenthe

a.marginalrevenueisnegativewhenoutputexceeds100units.

b.elasticityofdemandislessthan1whenoutputexceeds100units.

c.marginalrevenueis0whenoutputequals100units.

d.Alloftheaboveanswersarecorrect.

Answer:

d

Price

（dollars）

Quantity