麦圭根《管理经济学》英文版题库Chapter11PriceandOutputDete.docx
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麦圭根《管理经济学》英文版题库Chapter11PriceandOutputDete
MultipleChoice
1. UniqueCreationshasamonopolypositioninmagnometers. Ifthemarginalcostforamagnometeris$50andthepriceelasticityformagnometersis-4,whatistheoptimalmonopolyprice?
Hint:
P（1+1/E）=MC.
a.
$37.50
b.
$41.25
c.
$66.67
d.
$75.00
e.
$82.50
ANSWER:
c
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPRPOG:
Analysis
TOPICS:
TheOptimalMarkup,ContributionMargin,andContributionMarginPercentage
KEYWORDS:
BLOOM’S:
Analysis
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
2. Land’sEndestimatesademandcurveforturtlenecksweaterstobe:
LogQ=.41+2.3LogY-3LogP
whereQisquantity,Pisprice,andYisameasureonnationalincome. Ifthemarginalcostofimportedturtlenecksweatersis$9.00. （HINT:
P（1+1/E）=MC）. Theoptimalmonopolypricewouldbe:
a.
P=$13.50
b.
P=$26.50
c.
P=$27.50
d.
P=$34.50
e.
P=$56.22
ANSWER:
a
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPRPOG:
Analysis
TOPICS:
PriceandOutputDeterminationforaMonopolist
KEYWORDS:
BLOOM’S:
Analysis
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
3. Decliningcostindustries
a.
haveupwardrisingACcurves.
b.
haveupwardrisingdemandcurves.
c.
have∩-shapedtotalcosts.
d.
havediseconomiesofscale.
e.
havemarginalcostcurvesbelowtheiraveragecostcurve.
ANSWER:
e
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPROG:
ReflectiveThinking-BPROG:
Analysis
TOPICS:
SourcesofMarketPowerforaMonopolist
KEYWORDS:
BLOOM’S:
Comprehension
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
4. AmonopolistsellerofIrishceramicsfacesthefollowingdemandfunctionforitsproduct:
P=62-3Q. Thefixedcostis$10andthevariablecostperunitis$2. WhatisthemaximizingQUANTITYforthismonopoly?
Hint:
MRistwiceassteepastheinversedemandcurve:
MR=62–6Q.（Pickclosestanswer）
a.
Q=10
b.
Q=15
c.
Q=22
d.
Q=37
e.
Q=41
ANSWER:
a
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPRPOG:
Analysis
TOPICS:
PriceandOutputDeterminationforaMonopolist
KEYWORDS:
BLOOM’S:
Analysis
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
5. GloboPublicSupplyhas$1,000,000inassets. Itsdemandcurveis:
P=206-.20•Qanditstotalcostfunctionis:
TC=20,000+6•QwhereTCexcludesthecostofcapital. IfGloboPublicSupplyisUNREGULATED,findGlobo'soptimalprice.
a.
$206
b.
$106
c.
$56
d.
$6
e.
$3
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPRPOG:
Analysis
TOPICS:
PriceandOutputDeterminationforaMonopolist
KEYWORDS:
BLOOM’S:
Analysis
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
6. Amonopolistfacesthefollowingdemandcurve:
P=12-.3Qwithmarginalcostsof$3. WhatisthemonopolisticPRICE?
a.
P=$5.50
b.
P=$6.50
c.
P=$7.50
d.
P=$8.50
e.
P=$9.50
ANSWER:
c
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPRPOG:
Analysis
TOPICS:
PriceandOutputDeterminationforaMonopolist
KEYWORDS:
BLOOM’S:
Analysis
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20169:
15AM
7. Innaturalmonopoly,ACcontinuouslydeclinesduetoeconomiesindistributionorinproduction,whichtendstofoundinindustrieswhichfaceincreasingreturnstoscale. Ifpriceweresetequaltomarginalcost,then:
a.
pricewouldequalaveragecost.
b.
pricewouldexceedaveragecost.
c.
pricewouldbebelowaveragecost.
d.
pricewouldbeattheprofitmaximizinglevelfornaturalmonopoly
e.
alloftheabove
ANSWER:
c
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPRPOG:
Analysis
TOPICS:
MonopolyDefined
KEYWORDS:
BLOOM’S:
Comprehension
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
8. Theprofit-maximizingmonopolist,facedwithanegative-slopingdemandcurve,willalwaysproduce:
a.
atanoutputgreaterthantheoutputwhereaveragecostsareminimized
b.
atanoutputshortofthatoutputwhereaveragecostsareminimized
c.
atanoutputequaltoindustryoutputunderpurecompetition
d.
aandc
e.
noneoftheabove
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPROG:
ReflectiveThinking-BPROG:
Analysis
TOPICS:
PriceandOutputDeterminationforaMonopolist
KEYWORDS:
BLOOM’S:
Comprehension
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
9. Inthecaseofpuremonopoly:
a.
onefirmisthesoleproducerofagoodorservicewhichhasnoclosesubstitutes
b.
thefirm'sprofitismaximizedatthepriceandoutputcombinationwheremarginalcostequalsmarginalrevenue
c.
thedemandcurveisalwayselastic
d.
aandbonly
e.
a,b,andc
ANSWER:
d
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPROG:
Analytic
TOPICS:
MonopolyDefined
KEYWORDS:
BLOOM’S:
Comprehension
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
10. Amonopolywillalwaysproducelessthanapurelycompetitiveindustry,ceterisparibus.
a.
true
b.
false
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPROG:
Analytic
TOPICS:
TheOptimalMarkup,ContributionMargin,andContributionMarginPercentage
KEYWORDS:
BLOOM’S:
Comprehension
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
11. Thedemandcurvefacingthefirmin____isthesameastheindustrydemandcurve.
a.
purecompetition
b.
monopolisticcompetition
c.
oligopoly
d.
puremonopoly
e.
noneoftheabove
ANSWER:
d
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPROG:
Analytic
TOPICS:
MonopolyDefined
KEYWORDS:
BLOOM’S:
Knowledge
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
12. Whenthecrosselasticityofdemandbetweenoneproductandallotherproductsislow,oneisgenerallyreferringtoa（n）____situation.
a.
oligopoly
b.
monopoly
c.
purecompetition
d.
substitution
e.
monopolisticcompetition
ANSWER:
b
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPROG:
Analytic
TOPICS:
MonopolyDefined
KEYWORDS:
BLOOM’S:
Comprehension
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
13. Ofthefollowing,whichisnotaneconomicrationaleforpublicutilityregulation?
a.
productionprocessexhibitingincreasingreturnstoscale
b.
constantcostindustry
c.
avoidanceofduplicationoffacilities
d.
protectionofconsumersfrompricediscrimination
e.
noneoftheabove
ANSWER:
b
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPROG:
Analytic
TOPICS:
TheEconomicRationaleforRegulation
KEYWORDS:
BLOOM’S:
Comprehension
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
14. Thepracticebytelephonecompaniesofcharginglowerlong-distanceratesatnightthanduringthedayisanexampleof:
a.
invertedblockpricing
b.
second-degreepricediscrimination
c.
peak-loadpricing
d.
first-degreepricediscrimination
e.
noneoftheabove
ANSWER:
c
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPROG:
Analytic
TOPICS:
PriceandOutputDeterminationforaMonopolist
KEYWORDS:
BLOOM’S:
Knowledge
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
15. Intheelectricpowerindustry,residentialcustomershaverelatively____demandforelectricitycomparedwithlargeindustrialusers. Butcontrarytopricediscrimination,largeindustrialusersgenerallyarecharged____rates.
a.
similar,similar
b.
elastic,lower
c.
elastic,higher
d.
inelastic,lower
e.
inelastic,higher
ANSWER:
e
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
MultipleChoice
HAS VARIABLES:
False
NATIONAL STANDARDS:
UnitedStates-BPROG:
Analytic
TOPICS:
RegulatedMonopolies
KEYWORDS:
BLOOM’S:
Comprehension
DATE CREATED:
6/21/20168:
45AM
DATE MODIFIED:
6/21/20168:
45AM
16. Whichofthefollowingisasourceofmarketpowerfor
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