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经济学:微观经济分析(一)

经济学:微观经济分析(一)
经济学:微观经济分析(一)

缁忔祹瀛︼細寰缁忔祹鍒嗘瀽(涓€)

(鎬诲垎锛?5.00锛屽仛棰樻椂闂达細90鍒嗛挓)

涓€銆亄{B}}鍗曢」閫夋嫨棰榹{/B}}(鎬婚鏁帮細55锛屽垎鏁帮細55.00)

1.Income elasticity is defined as the:

? A. percentage change in income divided by the percentage change in the quantity demanded.

? B. change in quantity demanded divided by the change in income.

? C. percentage change in the quantity demanded divided by the percentage change in income.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欼ncome elasticity is defined as the percentage change in quantity demanded divided by the percentage change in income. Normal goods have positive values for income elasticity and inferior goods have negative income elasticities.

2.According to the "invisible hand" principle, which of the following statements is least accurate?

? A. Competitive markets produce an optimal basket of goods and services.

? B. Efficient allocation of productive resources occurs through competition.

? C. The authority of the state, although not seen, must always be present in the market.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歍he "invisible hand" to which Adam Smith referred in The Wealth of Nations did not include any legal authority. Rather, Smith was describing the way that individual producers serve society's interest by competing with one another to produce the goods and services that are valued most highly by final consumers, even though the producers do not have society's interest explicitly in mind.

3.Product differentiation is the greatest source of market power for which of the following market structures ?

? A. Perfect competition.

? B. Oligopoly.

? C. Monopolistic competition.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歅roduct differentiation gives market power to firms under monopolistic competition by making the firm the sole producer of a slightly differentiated good.

4.Suppose that the demand curve for honey shifts such that the equilibrium price for a pound of honey increases from $ 7 to $ 9 per pound. At the new equilibrium, the quantity supplied increases from 500 pounds per month to 600 pounds per month, although the supply curve has not shifted. The elasticity of supply for honey is closest to:

? A. +0.91.

? B. +0.73.

? C. +1.12.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛歍he average quantity of honey supplied is (500+600)/2=550 pounds, and the average price of honey ($7+$9)/2=$8 per pound. So, the percentage change in quantity is (600-

500)/550=18.18% and the percentage change in price is (9-7)/8=25.00%. Thus, the elasticity of supply is 18.18/25.00=+0.73.

5.Which of the following statements about the elasticity of demand is least accurate?

? A. The most important determinant of price elasticity of demand is the availability of substitutes.

? B. Prices are more elastic in the long run than in the short run.

? C. When demand is inelastic, an increase in price will cause a decrease in the total expenditure on a good.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欼f demand is inelastic, the age change in quantity demanded is smaller than the age change in price; quantity demanded is relatively unresponsive to price changes. A price increase increases total expenditures on a good.

6.Which of the following is least likely to be the result of a minimum wage?

? A. Unemployment will rise.

? B. There will be an abundance of low-skilled workers willing to work.

? C. Labor will be substituted for capital.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欶irms substitute capital for the "expensive" labor and use more than the economically efficient amount of capital.

https://www.doczj.com/doc/8b3087853.html,pared to normal markets, the existence of fraud and the use of violence in black markets generally leads to:

? A. poorer economic efficiency.

? B. superior economic efficiency.

? C. lower profit rates for sellers.

锛堝垎鏁帮細1.00锛?/div>

A. 鈭?/span>

B.

C.

D.

瑙f瀽锛欶raud and violence lead to a lower level of economic efficiency in black markets. The black markets operate less smoothly. The sellers that are not caught can charge a higher price for the risks they take and earn a higher profit rate.

8.Which of the following is least likely to be the long-run effect of a price ceiling that is set below the equilibrium price?

? A. Sellers take bribes.

? B. Suppliers discriminate.

? C. Sellers improve quality.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歎nder price ceilings, sellers may reduce the quality of goods to a level that reflects the imposed ceiling price.

9.A columnist is discussing how the efficient quantity of output for a good or service is determined. These two statements appear in his column:

Statement 1: The equilibrium quantity of production for a good or service can be considered efficient as long as the marginal social benefit of that quantity is greater than its marginal social cost.

Statement 2: Subsidies and quotas typically result in production of a good or service in quantities at which the marginal social cost exceeds the marginal social benefit.

Are these statements correct?

Statement 1 Statement 2

鈶燗. Correct Correct

鈶. Correct Incorrect

鈶. Incorrect Incorrect

? A. 鈶?

? B. 鈶?

? C. 鈶?/LI>

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歋tatement 1 is incorrect. The efficient quantity of output is the quantity at which the marginal social benefit (demand) is equal to the marginal social cost (supply). Statement 2 is also incorrect. Subsidies typically lead to overproduction, where the marginal social cost at the quantity produced is greater than the marginal social benefit. Quotas, however, typically limit production to a level below equilibrium, such that the marginal social benefit at the quantity produced is greater than the marginal social cost.

10.For which the following four-firm concentration ratios and Herfindahl-Hirschman indexes (HHI) indicates a highly competitive market?

Four-Firm Ratio HHI

鈶燗. 5% 150

鈶. 98% 9500

鈶. 98% 150

? A. 鈶?

? B. 鈶?

? C. 鈶?/LI>

锛堝垎鏁帮細1.00锛?/div>

A. 鈭?/span>

B.

C.

D.

瑙f瀽锛欶or both the four-firm ratio and the HHI, the lower the market concentration measure, the greater the degree of competition.

11.In a regulated industry, the introduction of a marginal cost pricing role that maximizes total surplus would most likely be viewed as:

? A. inefficient but leaves the natural monopoly incurring an economic loss.

? B. inefficient and allows the natural monopoly to realize an economic gain.

? C. efficient but leaves the natural monopoly incurring an economic loss.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欰 marginal cost pricing rule sets price equal to marginal cost. It is efficient but leaves the natural monopoly incurring an economic loss. Because, with an increase in output the average total cost falls, resulting in marginal cost being less than the average cost.

12.Which of the following most accurately describes the impact of a price ceiling set below the equilibrium price for a good and a minimum wage set above the equilibrium wage? Price ceiling Minimum wage 鈶燗. Shortage Decreased unemployment 鈶. Surplus Increased unemployment 鈶. Shortage Increased unemployment A. 鈶燘. 鈶. 鈶?br/>锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欰 ceiling that is below the equilibrium price for a good will result in a shortage characterized by a quantity demanded that is greater than the quantity supplied. A minimum wage leads to increased unemployment as firms tend to substitute capital for labor. Even though there are often a large number of unemployed low-skilled workers who may be willing to work at a wage lower than the minimum wage, firms cannot legally hire them.

13.The production of a rock concert is an example of which type of organization of an economic activity?

? A. Finn coordination.

? B. Market coordination.

? C. Economic coordination.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛歁arket coordination occurs when a firm employs resources outside the firm more efficiently than if they relied only on internal resources. An example is through the coordination of more than one market such as the production of a rock concert which involves many different markets ( e. g. marketing, vending, musicians, security, facilities procurement, etc. ).

14.If accurately calculated, will the amount of accounting profit for a firm generally: be below that firm's economic consider both that firm's profit for the same time period?

explicit and implicit costs? 鈶燗. No No 鈶. No Yes 鈶. Yes No A. 鈶?B. 鈶. 鈶?br/>锛堝垎鏁帮細1.00锛?/div>

A. 鈭?/span>

B.

C.

D.

瑙f瀽锛歄pportunity cost is the return that a firm's resources could have earned elsewhere in their next most valuable use. Opportunity cost includes both explicit and implicit costs. Explicit costs are observable, measurable expenses such as the dollar cost of production inputs and the interest cost of renting (borrowing) capital. Implicit costs are not

explicitly observable and fall into two categories : (1) the opportunity cost to a firm of using its own capital and (2) the opportunity cost of the time and financial resources of

the firm's owners. Economic profit considers both explicit and implicit costs. When the

firm's revenues are just equal to its opportunity costs (explicit and implicit costs, including a normal profit) , economic profits are zero. Accounting profit considers only explicit costs but not implicit cost and normally exceed economic profit.

15.If quantity demanded declines 20 percent when incomes fall 3 percent, this good is:

? A. a luxury good.

? B. a necessity.

? C. an inferior good.

锛堝垎鏁帮細1.00锛?/div>

A. 鈭?/span>

B.

C.

D.

瑙f瀽锛欼ncome elasticity is the sensitivity of demand to changes in consumer income. Income elasticity for this good = (percent change in quantity demanded)/(percent change in income)=-20/-3=6.7. Normal goods with high income elasticities (absolute values锛?) are considered luxury goods, a type of normal good that experiences a greater percentage

increase in demand than the percentage increase in income.

16.Which of the following statements about price elasticity is most likely FALSE?

? A. The elasticity of demand of a good increases over time.

? B. If the price of gasoline increases, total expenditures on gasoline will increase.

? C. If the price of a brand of toilet paper increases, total expenditure on that brand of toilet paper will increase.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欰 particular brand of toilet paper likely has elastic demand because there are many available substitutes. The existence of many substitutes indicates elastic demand. When good substitutes for a product are available, a price rise induces many consumers to switch to other products. Thus, if the price of a brand of toilet paper increases, total expenditure

on that brand will likely decrease as consumers substitute cheaper brands. The most

important determinant of the price elasticity of demand is the availability of substitutes. The other statements are true. The second law of demand suggests that in general, when the price of a product increases, consumers take time to reduce their consumption. Thus, demand decreases by a larger amount in the long run than in the short run. The demand for gasoline

is likely inelastic. Thus, when price increases, the percentage change in quantity demanded

is less than the change in price (and total expenditures on the good increase). The demand

for an individual firm is more elastic than the demand for the entire market.

17.A minimum wage is an example of which of the following?

? A. A price ceiling.

? B. A quota.

? C. A price floor.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欰 minimum wage is an example of a price floor.

18.Because copper producers are allowed to release harmful chemicals into the air, the industry supply curve is not the marginal social cost curve. Given this situation and a copper market that is otherwise competitive, copper producers will

? A. produce less than the efficient amount of copper, an example of the "free rider"

problem.

? B. produce less than the efficient amount of copper, resulting in a dead weight loss from underproduction.

? C. produce more than the efficient amount of copper, resulting in a deadweight loss from overproduction.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歋ince some of the societal costs of copper production are not considered by the copper producers, the marginal social cost curve lies above the industry supply curve and equilibrium copper production is greater than the efficient level of output. This results in a deadweight loss from overproduction. The "free rider" problem arises when consumers can enjoy the benefit of public goods without paying anything towards their production.

19.Which of the following most accurately describes society's allocation of resources to the production of goods with external costs or external benefits?

External costs External benefits

鈶燗. Over-allocation Over-allocation

鈶. Under-allocation Under-allocation

鈶. Over-allocation Under-allocation

? A. 鈶?

? B. 鈶?

? C. 鈶?/LI>

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欵xternal costs are costs associated with the production of goods which are not entirely borne by producers. The industrial pollution of fishing waters decreases the yield to the fishing industry. However, the lost revenue to the fishing industry is not considered a cost to the firms generating the pollution. The result is an over-allocation of resources to the production of goods made by the firms generating the pollution. External benefits refer to benefits received by those other than the buyers of a good. Scenic gardens and fountains built by private enterprises for their own interests are examples of goods with external benefits. Since the marginal benefit to society is greater than that of the marginal cost to the producer, less than the efficient quantity is produced.

20.Which of the following is least likely to be considered an obstacle to the efficient allocation of an economy's resources?

? A. Rent controls.

? B. Minimum wages.

? C. Changes in consumer tastes.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歅rice controls and taxes are obstacles to allocative efficiency. Rent controls and minimum wages are examples of price controls. As opposed to being obstacles to the efficient allocation of resources, changes in consumer tastes lead to the reallocation of society's resources, producing a different mix of goods or services that provide increased benefits.

21.Thompson Industries has the following short-run cost structure per level of production output:

Output Units (Q) Total Costs (TC) Fixed Costs (FC)

30000 $ 240000 $12000

50000 $ 360000 $12000

70000 $ 480000 $12000

90000 $ 570000 $12000

Based on the above and assuming a sales price of $10 per unit, what is the marginal cost per unit if the Company's output is increased from 50000 units to 70000 units?

? A. $6.86

? B. $6.00

? C. $4.60

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛歔*]

22.Economics commentator Gail Brythe is discussing the different factors that influence the elasticity of supply. She states the following: Statement 1: Elasticity of supply is greater when a good or service can only be produced with unique or rare inputs. Statement 2: Typically, a good's momentary supply elasticity is higher than its short-run supply elasticity, which in tuna is higher than its long-run supply elasticity. Are Brythe's statements correct? Statement 1 Statement 2 鈶燗. Correct Correct 鈶. Correct Incorrect 鈶. Incorrect Incorrect A. 鈶燘. 鈶. 鈶?br/>锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欱oth statements are incorrect. Elasticity of supply ( i. e. , the responsiveness

of the supply of a good to changes in its price) is low when a good can only be produced with rare or unique inputs, because the potential output of the good is constrained by the availability of those inputs. Supply elasticity is lowest in the momentary time frame because producers typically cannot change the output of a good immediately. Supply becomes more elastic as the time frame increases because long-run adjustments in capital investment and technology lead to greater changes in profit maximizing output levels.

23.The short run is best defined as:

? A. the period for which the quantities of all factors of production are fixed.

? B. a period of less than one year.

? C. the period for which the quantities of some resource inputs are fixed.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歍he short run is typically defined as the period for which the quantities of some, but not all, resources are fixed. Working capital is the difference between a firm's current assets and current liabilities and consists of items (such as cash) that the firm can adjust in the short run.

24.Producer surplus is most accurately defined as the.

? A. difference between the opportunity cost of producing the last unit of a good or service and the price received for that unit.

? B. sum of the differences between the marginal benefit and the marginal cost for each unit of good produced and consumed over the total number of units produced and consumed.

? C. sum of the differences between the price received for each unit of good produced and the opportunity cost of each unit.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歅roducer surplus is the sum of the differences between the price received for each unit of good produced and the opportunity cost of each unit, for the total units produced. Producer surplus results when the market price for a good or service exceeds the marginal cost producing it.

25.Which of the following concentration ratios are most likely to be associated with a perfectly competitive industry?

Four-firm concentration ratio Herfindahl-Hirschman Index

鈶燗. 125 1000

鈶. 85 25

鈶. 25 100

? A. 鈶?

? B. 鈶?

? C. 鈶?/LI>

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歍he four-firm concentration ratio can range from zero to 100 percent. The Herfindahl-Hirschman Index has a theoretical range of near zero to 10000. As the level of competition increases, the value of either of the concentration measures decreases. A perfectly competitive market is a market characterized by relatively low concentration measures.

26.When household incomes go down and the quantity of a product demanded goes up, the product is:

? A. an inferior good.

? B. a necessity.

? C. a luxury good.

锛堝垎鏁帮細1.00锛?/div>

A. 鈭?/span>

B.

C.

D.

瑙f瀽锛歐hen household incomes go down and the quantity demanded of a product goes up, the product is an inferior good. Inferior goods include things like bus travel and margarine. 27.Which of the following statements regarding diminishing marginal returns is most accurate?

? A. As the quantity produced rises, costs begin to rise at a decreasing rate.

? B. As the quantity produced falls, costs begin to rise at a decreasing rate.

? C. As the quantity produced rises, costs begin to rise at an increasing rate.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欰t production levels that are consistent with decreasing marginal returns, costs will increase at an increasing rate as production rises.

28.Consider two markets; one has a Herfindahl-Hirschman Index (HHI) of 50, while the other has a four-firm concentration ratio equal to 2%. Which of the following statements most accurately describes these two markets?

? A. Both of these markets are monopolies.

? B. The market with the HHI equal to 50 is very competitive, while the other market has low competition.

? C. Both markets are highly competitive.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欰n HHI concentration measure of 50 is very low, indicating a high degree of competition. A four firm concentration ratio of 2% indicates a high level of competition. For both the four-firm ratio and the HHI, the higher (lower) the concentration measure, the lower (greater) the degree of competition.

29.If marginal cost is above the average cost, when you produce your next unit:

? A. average cost will decline.

? B. marginal cost will remain unchanged.

? C. average cost will increase.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欼f marginal cost is above the average cost, when you produce your next unit, average cost will increase. Because marginal cost is the cost of producing the next unit, and because this cost is above the firm's average cost per unit, the average cost per unit must increase, if only slightly. Based on the information provided in the question, there is no way to know what will happen to the marginal cost of future units produced.

30.Christine Dobbs is watching a public affairs television program on which one of the participants makes the following Statements:

Statement 1: A common resource is an obstacle to the efficient allocation of resources unless it generates external benefits.

Statement 2: The idea of utilitarianism suggests that market allocation of resources does

not maximize the value of an economy to all individuals. However, achieving the results that utilitarianism regards as optimal involves a loss of economic output.

Should Dobbs agree or disagree with these statements?

Statement 1 Statement 2

鈶燗. Disagree Agree

鈶. Agree Agree

鈶. Agree Disagree

? A. 鈶?

? B. 鈶?

? C. 鈶?/LI>

锛堝垎鏁帮細1.00锛?/div>

A. 鈭?/span>

B.

C.

D.

瑙f瀽锛欳ommon resources and external benefits both represent obstacles to the efficient allocation of resources. Common resources tend to be overused and external benefits suggest that less than the efficient quantity is produced. Utilitarianism is the idea that fairness means all individuals own the same amount of resources. To bring about such an outcome would require transferring wealth from high income earners to low income earners. This would

result in high income earners working less, so the economy would produce less wealth overall. The time and effort required to transfer the wealth would also divert resources from productive uses.

31.Which of the following factors of production is least likely to be fixed in the short run?

? A. Capital equipment.

? B. Labor.

? C. Plant size.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛歀abor is typically assumed to be variable in the short run.

32.Fred Heyach and Gord Murdoll are discussing whether or not competitive markets use resources efficiently. Heyach says, "Competition must lead to the efficient allocation of resources. Consumers are willing to pay more for the goods they want most, so producers of those goods can outbid other producers for the resources to make them. Murdoll replies, "At any one point in time the market might allocate resources efficiently given consumers' preferences, but as consumers change their minds about which goods they want, the allocation of resources becomes inefficient. " Are these statements correct or incorrect?

Heyach Murdoll

鈶燗. Correct Incorrect

鈶. Incorrect Correct

鈶. Incorrect Incorrect

? A. 鈶?

? B. 鈶?

? C. 鈶?/LI>

锛堝垎鏁帮細1.00锛?/div>

A. 鈭?/span>

B.

C.

D.

瑙f瀽锛欻eyach's statement is correct but Murdoll's statement is incorrect. Competitive forces adjust the allocation of resources to changes in consumer preferences. If consumers' demand for a product decreases, the resources that were being used to produce it are diverted to the production of other goods that are in greater demand.

33.Matthew Reeves is listening to a discussion on how resources move to the most efficient allocation. Two of the participants make these statements:

Statement 1: When resources are diverted from beer production to wine production, this represents an inefficient allocation from the perspective of the beer producers.

Statement 2: Market allocation of resources tends toward efficiency because the value of what a resource can produce determines its allocation in production.

Should Reeves agree or disagree with these statements?

Statement 1 Statement 2

鈶燗. Disagree Agree

鈶. Agree Agree

鈶. Agree Disagree

? A. 鈶?

? B. 鈶?

? C. 鈶?/LI>

锛堝垎鏁帮細1.00锛?/div>

A. 鈭?/span>

B.

C.

D.

瑙f瀽锛歊eeves should disagree with Statement 1. In the competitive market, resources are diverted away from goods for which final consumer demand is decreasing, and toward the production of goods for which final consumer demand is increasing. If the market is

diverting resources from producing beer to producing wine, it is because consumers have changed their decisions and begun offering more money for wine and less for beer. This means beer brewers are producing more than consumers demand and generating losses on the excess production. They will maximize their profits by reducing their production and using fewer resources. Thus, the new allocation of resources is efficient even from the point of view of the beer producers. Reeves should agree with Statement 2. The market constantly reallocates productive resources to uses where what they produce is valued more by final consumers, and

removing them from uses where what they produce is valued less. When there are no obstacles, resources are always moving toward their most efficient(value maximizing) allocations.

34.Equilibrium in a perfectly competitive market results in a quantity for which the:

? A. difference between consumer and producer surpluses is maximized.

? B. consumer and producer surpluses are equal.

? C. sum of consumer and producer surpluses is maximized.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欼n a competitive market, the equilibrium quantity is the one tot which the sum of the consumer and producer surpluses is maximized.

35.The price of product Z decreased from $ 2.50 per unit to $ 2.00 per unit. Since the price decreased, demand has gone up from 3 million units to 4 million units. Calculate the price elasticity of demand and determine if the demand is elastic or inelastic.

Price elasticity of demand Elasticity

鈶燗. - 1.29 inelastic

鈶. - 2.00 inelastic

鈶. - 1.29 elastic

? A. 鈶?

? B. 鈶?

? C. 鈶?/LI>

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歱ercentage change in quantity =(4-3)/[(4+3)/21=0.286=28.6% percentage change in price =(2-2.5)/[(2+2.5)/2]=-0.222=-22.2% 28.6%/-22.2%=-1.29 Since the price elasticity of demand is greater than 1 ( ignore the sign) , product Z is elastic.

36.Which of the following two factors are most likely to be considered variable during the short run?

? A. Labor and technology.

? B. Labor and raw materials.

? C. Raw materials and technology.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛歄f the sets of factors listed, the two that are typically considered variable in the short run are labor and raw materials.

37.Which of the following statements least accurately describes why firms can coordinate economic activity more efficiently than markets? Firms can achieve:

? A. economies of scope.

? B. diversification benefits.

? C. economies of scale.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛欶irms can often coordinate economic activity more efficiently than markets because firms can reduce the costs of market transactions, and they can achieve economies of scale, scope, and team production.

38.Which of the following most accurately describes the typical relationship between marginal product (MP) and average product (AP) ? As the quantity of labor increases:

? A. initially, AP 锛?MP, then AP = MP, then AP 锛?MP.

? B. initially, AP = MP, then AP 锛?MP.

? C. AP is always less than MP.

锛堝垎鏁帮細1.00锛?/div>

A. 鈭?/span>

B.

C.

D.

瑙f瀽锛歁P intersects the AP minimum from above. MP is initially greater than average product, and then MP and AP intersect. Beyond this intersection, MP is less than AP. (Hint: sketch the curves. )

39.For a given good or service, the marginal social benefit ( MSB and the marginal social cost (MSC) curves are least accurately described by which of the following?

? A. Producer surplus is determined by price and the MSC curve and consumer surplus is determined by price and the MSB curve.

? B. The efficient allocation of resources occurs where the difference between the MSB and MSC curves is maximized.

? C. The market demand curve is the same as the MSB curve, and the market supply curve is the same as the MSC curve.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛歍he marginal social benefit (MSB) curve is the market demand curve and the marginal cost (MSC) curve and is the market supply curve. At the intersection of the MSB and MSC curves, the sum of producer and consumer surpluses is maximized and society's resources are being efficiently allocated.

40.A minimum wage set above the equilibrium minimum wage will most likely have which of the following effects?

? A. It will have no effects.

? B. Unemployment will rise.

? C. There will be a shortage of workers.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛欶irms will not employ all the workers who want to work at the imposed higher wage. Those who want to work at the higher wage but cannot find jobs will be counted as unemployed.

41.Which of the following statements is most likely to characterize the principal-agent problem between buyers and sellers of services?

? A. Principals can impose their own objectives on agents.

? B. Principals can have complete information about agent behavior.

? C. Agents cannot be completely monitored.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欰gents can and do exercise their own judgment and, because agents cannot be completely monitored, agents have opportunities to serve their own ends instead of those of the principal.

42.Marginal benefit is most accurately described as the:

? A. benefit from producing one more unit of a good or service.

? B. benefit an individual gets from consuming an additional unit of a good or service.

? C. benefit that must be forgone in order to consume an additional unit of a good or service.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛歁arginal benefit is the benefit a consumer receives from consuming an additional unit of a good or service. It is quantified as the maximum price that a consumer is willing to pay for one additional unit of a good or service.

43.Which of the following condition is least likely to be the obstacle to the efficient allocation of productive resources:

? A. Price controls

? B. Taxes and trade restrictions

? C. Perfect competition

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歋ome of the obstacles to the efficient allocation of productive resources are: Price controls; Taxes and trade restrictions; Monopoly; External costs; External benefits; Public goods and common resources.

44.Which of the following statements is most accurate? A method of production is economic efficiency when:

? A. It uses the most advanced science and technology.

? B. The cost of fund capital is as low as possibie.

? C. The cost of producing a given level of output is as low as possible.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欵conomic efficiency refers to producing a given output at the lowest possible cost. Technological efficiency refers to using the least amount of specific inputs to produce a given output.

45.If the last unit of input increases total product we know that the marginal product of that input is:

? A. negative.

? B. positive.

? C. increasing.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛欰s long as marginal product is positive, total product will increase. We would need more information to determine whether marginal product is falling or increasing.

46.New legislation setting a price ceiling will most likely cause:

? A. a market surplus.

? B. a market shortage.

? C. a decrease in demand.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛歅rice ceilings restrict the producer from increasing the selling price. The lower price will stimulate demand by consumers at this lower price. However, since producers will not be able to increase price there is little incentive for them to increase supply. Hence, production and supply will be limited at the price ceiling leading to a market shortage. 47.The demand for oil is more inelastic in the short-run than the supply of oil, but it is not perfectly inelastic. Based only on this factor, if the government imposes a $ 5.00 per barrel tax on oil producers :

? A. The incidence of the tax will fall most heavily on oil producers, because the tax is imposed directly on them.

? B. The incidence of the tax will be split between oil producers and oil consumers, with most of the tax being paid by oil producers.

? C. The incidence of the tax will be split between oil producers and oil consumers, with most of the tax being paid by oil consumers.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛欰 is incorrect because the incidence of a tax falls mostly on consumers when the demand for the taxed product is more inelastic than the supply. B is incorrect because the incidence of a tax fails mostly on consumers when the demand for the taxed product is more inelastic than the supply. C is correct because the incidence of a tax fall mostly on consumers when the demand for the taxed product is more inelastic than the supply and the demand is not perfectly inelastic.

48.Suppose the price of computers increases from $1000 to $1200. Assuming the original quantity demanded for computers was 50 million units, and the new quantity demanded is 45

million computers, what is the price elasticity of demand, and is the demand for computers elastic or inelastic?

? A. 0.58, inelastic.

? B. -0.58, inelastic.

? C. 1.73, elastic.

锛堝垎鏁帮細1.00锛?/div>

A.

B. 鈭?/span>

C.

D.

瑙f瀽锛歅rice elasticity of demand is calculated by dividing the percent change in

quantity demanded by the percent change in price, using the average value of the variable in the computations. The percent change in quantity demanded is (45-50)/[(50+45)/2]=-0.105 or -10.5%. The percent change in price is (1200-1000)/[(1000+1200)/21=0.1818 or 18.2%. The price elasticity of demand is -10.5/18.2=-0.58. Since the price elasticity of demand is smaller than 1 (ignore the sign),the demand for computers is inelastic.

49.Marko Tskitishvili, an economist, has been studying the drop in the price of the average household computer in the U.S. and wonders if computers should still be considered a luxury good or if it has now become a normal good. He conducts a survey of 500 people and finds the following:

Based on the above data, Tskitishvili would conclude that a computer is a:

? A. luxury good with income elasticity of 1.01.

? B. normal good with income elasticity of 0.84.

? C. luxury good with income elasticity of 1.18.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛? change in Computers demanded =(0.57-0.42)/0.495=30.30% % change in income

=($53000-$41000)/$47000 =25.53% 30.30%/25.53%=1.18 1.18锛? so Tskitishvili would conclude that computers are luxury goods.

50.Which of the following most accurately describes the shape of the average fixed cost (AFC) curve? The AFC curve:

? A. is always below the average variable cost curve.

? B. has the same shape as the average total cost curve.

? C. becomes flatter as output increases.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歍he AFC curve declines initially, but as output increases it flattens because a fixed cost is being averaged over more and more units of output.

51.The long-run production decision differs from the short-run production decision in that:

? A. variable costs can be changed in the short run but not the long run.

? B. variable costs can be changed in the long run but not the short run.

? C. fixed costs can be changed" in the long run but not the short run.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歍he long-run production decision differs from the short-run production decision in that fixed costs can be changed in the long run but not the short-run. Thus, short-run cost curves apply for a given size of a plant, and long-run cost curves can show costs for different size plants.

52.George's Appliance Center sells big screen televisions. On a representative model, when the price was reduced from $ 2450 to $ 2275, monthly demand increased from 175 to 211 units. What is the price elasticity of demand?

? A. -2.14.

? B. -1.69.

? C. -2.53.

锛堝垎鏁帮細1.00锛?/div>

A.

B.

C. 鈭?/span>

D.

瑙f瀽锛歅rice elasticity of demand = % change in quantity demanded/% change in price % change in quantity =(211-175)/[(211+175)/2]=0.187 % change in price =(2275-

2450)/[(2275+2450)/2]=-0.074 Price elasticity of demand =0.187/(-0.074)=-2.53

53.If a 10 percent income increase caused a group of consumers to increase their purchases

of television sets from 95 to 105, the group's income elasticity of demand for television sets would be closest to:

? A. 1.00.

? B. 0.10.

? C. 0.83.

高级微观经济学题库2016

一、名词解释: 1. 需求:是指消费者在一定时期在各种可能的价格下愿意而且能够购买的商品的数量。 2. 供给:商品的供给是指生产者在一定时期,在各种可能的价格下愿意而且能够提供出售的商品的数量。 3. 均衡价格:使得供给量恰好等于需求量时的市场价格水平。在市场上,由于供给和需求力量的相互作用,市场价格趋向于均衡价格,如果市场价格高于均衡价格,超额供给使市场价格趋于下降;反之,如果市场价格低于均衡价格,则市场上出现超额需求,超额需求使市场价格趋于上升直至均衡价格。因此,市场竞争使得市场稳定于均衡价格。 4. 效用:人们消费或拥有一定数量的某种商品时所获得的满足程度。 5. 边际效用递减规律:在一定时间,在其他商品的消费数量保持不变的条件下,随着消费者对某种商品消费量的增加,消费者从该商品连续增加的每一消费单位中所得到的效用增量即边际效用是递减的。 6. 预算约束线:是指在消费者收入和商品价格既定条件下,消费者全部收入所能购买到的各种商品的不同数量的组合。 7. 收入—消费曲线:是指在两种商品的价格水平之比为常数的情况下,每一收入水平所对应的两种商品最佳购买组合点组成的轨迹。 8. 价格—消费曲线:是指在一种商品的价格水平和消费者收入水平为常数的情况下,另一种商品价格变动所对应的两种商品最佳购买组合点组成的轨迹。也就是当某一种物品的价格改变时的消费组合。 9. 吉芬商品:以经济学家吉芬的名字命名的一种特殊商品,随着价格的上升,市场对它的需求量增加,其需求曲线向右上方倾斜。 10. 生产函数:在特定时间围和既定的生产技术水平下,一定的生产要素数量组合与其他所能生产的最大产量之间的关系, 11. 边际产量:在技术和其他投入要素不变的情况下,每增加一个单位变动投入要素所得到的总产量的增加量。 12. 等产量曲线:在技术水平不变的条件下生产同一产量的两种生产要素投入量的各种不同组合的轨迹。 13. 生产要素最优组合:是指在要素价格不变,在存在两种以上可变生产要素的生产中(即长期中),生产者在其成本既定时使产量最大或其产量既定时成本最小所需要使用的各种生产要素的最优数量组合。生产要素最优组合的条件是RTSLK=w/r(使用L和K这两种生产要素时的情况)。 14.完全竞争厂商面对的需求曲线:简称厂商的需求曲线。在完全竞争条件下,由于厂商是市场既定价格的接受者,所以厂商所面临的需求曲线是一条由既定的市场均衡价格水平出发的水平线,它表示:在既定的市场价格下,市场对该厂商的商品的需求量是无限的。 15. 不完全竞争市场:指这样一些市场:因为至少有一个大到足以影响市场价格的买者(或卖者),并因此面对向下倾斜的需求(或供给)曲线。包括各种不完全因素,诸如垄断竞争等。 16.古诺模型:假定一种产品市场只有两个卖者,并且相互间没有任何勾结行为,但相互间都知道对方将怎样行动,从而各自怎样确定最优的产量来实现利润最大化,因此,古诺模型又称为双头垄断理论。

微观经济学图示分析汇总完整

第二章 需求、供给与均衡分析 1,需求的变动(教材P22) 需求的变动是指在某商品价格不变的条件下,由于其他因素的变动所引起的该商品的需求数量的变动。 2,供给的变动(教材P21) 供给变动对均衡价格的影响: P D 1 E 4 D 2 P 1 P 2 E 1 E 2 E 3 S 1 S 2

4。需求弧弹性的五种分类 5。需求点弹性的五种类型 在需求的价格点弹性中,上述分析的五种基本类型也同样存在。见下页说明。

6。供给弹性的几何测定: 供给的价格点弹性也可以用几何方法来求得。在此用图2-8以线性供给函数为例加以 在A 点的点弹性值: Esp =Q P dP dQ ?=OB AB AB CB ? =OB CB 7。供给价格弹性的分类及几何表示 8。支持价格的含义及影响 图2—21表示政府对某种产品实行最低限价的情形。政府实行最低限价所规定的市场价格为P 0。由图可见,最低限价P 0大于均衡价格P e ,在最低限价P 0的水平,市场供给量Q 2大于市场需求量Q 1,市场上出现产品过剩(过度供给)的情况。 A B e s >1 (a ) P O Q S C A B e s <1 (b ) P O Q S C A B e s =1 (c ) P O Q S (C )

政府实行最低限价的目的通常是为了扶植某些行业的发展。农产品的支持价格就是西方国家所普遍采取的政策,在实行这一政策时,政府通常收购市场上过剩的农产品。 第三章 消费者行为 1.总效用与边际效用的关系 根据表3—1所绘制的总效用和边际效用曲线如图3—1所示。 图中的横轴表示商品的数量,纵轴表示效用量,TU 曲线和MU 曲线分别为总效用曲线和边际效用曲线。由于边际效用被定义为消费品的一单位变化量所带来的总效用的变化量,又由于图中的商品消费量是离散的,所以,MU 曲线上的每一个值都记在相应的两个消费数量的中点上。 在图中,MU 曲线因边际效用递减规律而成为向右下方倾斜的,相应地,TU 曲线则随着MU 的变动而呈现先上升后下降的变动特点。总结MU 与TU 的关系: 当MU >0时,TU 上升 当MU <0时,TU 下降 当MU =0是。TU 达极大值。 从数学意义上讲,如果效用曲线是连续的,则每一消费量上的边际效用值就是总效用曲线上相应的点的斜率。这一点,也体现在边际效用的定义公式(3.3)式中。 2,无差异曲线的概念及图形(Indifference Curve ) 图2-20 最高限价 S D P e O Q 1 P Q Q 图2 -21 最低限价 S D P e Q 1 O P Q 2 Q 2

范里安《高级微观经济学》复习资料章完整版

高 级微观复习 第一章: P12—22:给出生产函数可求出技术替代率、替代弹性、规模报酬等(结合书上P13、P15和P19例题看+P21CES 生产函数) 1、技术替代率TRS :,假设维持产量水平不变,我们想增加要素1的投入量减少要素2的投入量。这就是这两种要素之间的技术替代率,是衡量等产量线的斜率。 二维情况下:),(),(),(21221112 21x x MP x x MP x x x x TRS -=??= N 维情况下,TRS(x 1,x 2): 或者 柯布-道格拉斯函数下的技术替代率: 2、替代弹性 替代弹性衡量等产量线的曲率。更具体地说,替代弹性衡量在产量维持不变的情形下,要素投入比率的变动百分比除以TRS 变动百分比。 根据公式推导,连锁法则( ) 柯布-道格拉斯函数的替代弹性是1。 3、规模报酬 产量等比例增加,我们通常假设只要将以前的生产模式复制,就能生产出t 倍的产量。定义(规模报酬不变):某生产技术呈现规模报酬不变的现象,若它满足下列条件: 定义(规模报酬递增):若f(tx)>tf(x)(其中t>1),则该技术是规模报酬递增的。

4、CES函数的相关概念 CES函数具有规模报酬不变性质。 (1)线性生产函数(ρ=1)。将ρ=1代入CES生产函数可得y=x1+x2, , 第二章 利润最大化问题:求解要素需求函数、供给函数(参考P32柯布道格拉斯技术的例子) 基本原理: 对于每个价格向量(p,w),通常会存在要素的最优选择x*。要素最优选择是价格向量的函数,这个函数称为企业的要素需求函数。我们将该函数记为x(p,w)。P是产品的价格,W是要素的价格。函数y(p,w)=f(x(p,w))称为企业的供给函数。 柯布-道格拉斯函数: 简化:就是对生产函数求导,然后,要素需求函数X=。。。。Y=f(X)=。。。利润函数: 第三章 霍特林引理(P46)

范里安高级微观经济学复习资料1-16章完整版

高级微观复习 第一章: ? P12—22:给出生产函数可求出技术替代率、替代弹性、规模报酬等(结合书上P13、P15和P19例题看+P21 CES 生产函数) 1、技术替代率TRS :,假设维持产量水平不变,我们想增加要素1的投入量减少要素2的投入量。这就是这两种要素之间的技术替代率,是衡量等产量线的斜率。 二维情况下:),(),(),(21221112 21x x MP x x MP x x x x TRS -=??= N 维情况下,TRS(x 1,x 2): 或者 柯布-道格拉斯函数下的技术替代率: 2、替代弹性 替代弹性衡量等产量线的曲率。更具体地说,替代弹性衡量在产量维持不变的情形下,要素投入比率的变动百分比除以TRS 变动百分比。 根据公式推导,连锁法则( ) 柯布-道格拉斯函数的替代弹性是1。 3、规模报酬 产量等比例增加,我们通常假设只要将以前的生产模式复制,就能生产出t 倍的产量。定义(规模报酬不变):某生产技术呈现规模报酬不变的现象,若它满足下列条件:

定义(规模报酬递增):若f(tx) >tf(x)(其中t>1),则该技术是规模报酬递增的。 4、CES函数的相关概念 CES函数具有规模报酬不变性质。 (1)线性生产函数(ρ=1)。将ρ=1代入CES生产函数可得y =x1+x2, , 第二章 ?利润最大化问题:求解要素需求函数、供给函数(参考P32柯布道格拉斯技术的例子) 基本原理: 对于每个价格向量( p,w),通常会存在要素的最优选择x *。要素最优选择是价格向量的函数,这个函数称为企业的要素需求函数。我们将该函数记为x( p,w)。P是产品的价格,W是要素的价格。函数y ( p,w)=f(x(p,w))称为企业的供给函数。 柯布-道格拉斯函数: 简化:就是对生产函数求导,然后,要素需求函数X=。。。。Y=f(X)=。。。利润函数: 第三章 ?霍特林引理(P46)

微观经济学分析题答案

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根据公式推导,连锁法则() 柯布-道格拉斯函数的替代弹性是1。 3、规模报酬 产量等比例增加,我们通常假设只要将以前的生产模式复制,就能生产出t倍的产量。定义(规模报酬不变):某生产技术呈现规模报酬不变的现象,若它满足下列条件: 定义(规模报酬递增):若f(tx) >tf(x)(其中t>1),则该技术是规模报酬递增的。 4、CES函数的相关概念 CES函数具有规模报酬不变性质。 (1)线性生产函数(ρ=1)。将ρ=1代入CES生产函数可得y =x1+x2,

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经济学:微观经济分析(一)

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一个鸡蛋}才是选项。对于可行的选项,则是对选项的一个具体要求,对于不同的约束情况下,备选集应该针对具体问题有具体的选项,而不能脱离选择约束条件,一个不可能的选项永远也不可能选上。最后就是应该的选项,这个应该的选项也就是我们最后想要的结果。 整个第一部分就是在考虑去怎么解决这四个问题,为了建立个人的选择模型,课本引入了偏好与效用问题。偏好是指消费者按照自己的意愿对可供选择的商品组合进行的排列组合。偏好是微观经济学价值理论中的一个基础概念。偏好是主观的,也是相对的概念。偏好实际是潜藏在人们心的一种情感和倾向,它是非直观的,引起偏好的感性因素多于理性因素。偏好有明显的个体差异,也呈现出群体特征。偏好之所以会受到经济学家的重视和研究,是因为它是所有经济学的最最基础的东西,如果经济学是一座大厦,那么偏好的研究就是这座大厦的地基里的一块块砖石。而所有的经济学的理论研究都必须要先建立在人们的偏好基础之上。效用是微观经济学中最经典的术语之一,最早可以追溯到亚历士多的《政治学》。作为经济畴的效用,最初出现于费迪南多加利亚尼1751 年出版的《论货币》,其含义为效用是指对于消费者通过消费或者享受闲暇等使自己的需求、欲望等得到的满足的一个度量。经济学家用它来解释有理性的消费者如何把他们有限的资源分配在能给他们带来最大满足的商品上。在维多利亚女王时代,哲学家和经济学家曾经轻率的将效用当做一个人整个福利指标。效用一度认为是个人快乐的数学测度。 有了效用之后就可以用效用来衡量个人对一个选项的喜欢程度,而偏好又是在效用上增加了规则。对于决策者的偏好,我们主要有两个假设:完备性和传递性,满足这两个假设的偏好被称为理性偏好。有的教科书也

微观经济学图示分析汇总

第二章 需求、供给与均衡分析 1,需求的变动(教材P22) 需求的变动是指在某商品价格不变的条件下,由于其他因素的变动所引起的该商品的需求数量的变动。 2,供给的变动(教材P21) 供给变动对均衡价格的影响: P D 1 E 4 D 2 P 1 P 2 E 1 E 2 S 1 S 2

4。需求弧弹性的五种分类 5。需求点弹性的五种类型 在需求的价格点弹性中,上述分析的五种基本类型也同样存在。见下页说明。

6。供给弹性的几何测定: 供给的价格点弹性也可以用几何方法来求得。在此用图2-8以线性供给函数为例加以 在A 点的点弹性值: Esp = Q P dP dQ ?=OB AB AB CB ? =OB CB 7。供给价格弹性的分类及几何表示 8。支持价格的含义及影响 图2—21表示政府对某种产品实行最低限价的情形。政府实行最低限价所规定的市场 A B e s >1 (a ) P O Q S C A B e s <1 (b ) P O Q S C A B e s =1 (c ) P O Q S (C )

价格为P 0。由图可见,最低限价P 0大于均衡价格P e ,在最低限价P 0的水平,市场供给量Q 2大于市场需求量Q 1,市场上出现产品过剩(过度供给)的情况。 政府实行最低限价的目的通常是为了扶植某些行业的发展。农产品的支持价格就是西方国家所普遍采取的政策,在实行这一政策时,政府通常收购市场上过剩的农产品。 第三章 消费者行为 1.总效用与边际效用的关系 根据表3—1所绘制的总效用和边际效用曲线如图3—1所示。 图中的横轴表示商品的数量,纵轴表示效用量,TU 曲线和MU 曲线分别为总效用曲线和边际效用曲线。由于边际效用被定义为消费品的一单位变化量所带来的总效用的变化量,又由于图中的商品消费量是离散的,所以,MU 曲线上的每一个值都记在相应的两个消费数量的中点上。 在图中,MU 曲线因边际效用递减规律而成为向右下方倾斜的,相应地,TU 曲线则随着MU 的变动而呈现先上升后下降的变动特点。总结MU 与TU 的关系: 当MU >0时,TU 上升 当MU <0时,TU 下降 当MU =0是。TU 达极大值。 从数学意义上讲,如果效用曲线是连续的,则每一消费量上的边际效用值就是总效用曲线上相应的点的斜率。这一点,也体现在边际效用的定义公式(3.3)式中。 图2-20 最高限价 S D P e O Q 1 P Q Q 图2-21 最低限价 S D P e Q 1 O P Q 2 Q 2

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