微观经济学6.2
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chapter 6
Description
本次测验由二十个选择题组成
This assessment is worth 50 points.
Note: Correct answers appear in Blue. Incorrect answers and skipped
questions appear in Red after 'Your response'.
1. Of the following characteristics, which one applies exclusively to a
perfectly competitive firm?
(2.50 points)
Your response:
e.
It has a narrow range of prices it can charge for its output.
Feedback :
Learning Objective: Profit-maximizing firms in perfectly com
Level of Learning: Comprehension
Source: Unique
Type: Word Problem
0 points awarded.
The correct answer is:
a. It always earns a profit.
b. It seeks only to minimize costs.
c. It can sell all it wants to at the market price.
d. It will never earn a profit.
e. It has a narrow range of prices it can charge for its output.
2. The short run is defined as (2.50 points)
Your response:
d.
a period in which at least one factor of production is fixed.
(You answered correctly!)
Feedback :
Learning Objective: Production in Short Run
Level of Learning: Knowledge
Source: Unique
Type: Word Problem
2.50 points awarded.
The correct answer is:
a. one year or less.
b. a period in which all factors of production are variable.
c. the period of time between quarterly accounting reports.
d. a period in which at least one factor of production is fixed.
e. a period in which at most one factor of production is fixed.
3. Conditions that are necessary for a market to be perfectly
competitive include:
(2.50 points)
Your response:
e.
A and C but not B.
(You answered correctly!)
Feedback :
Learning Objective: Profit-maximizing firms in perfectly com
Level of Learning: Comprehension Source: Unique
Type: Word Problem
2.50 points awarded.
The correct answer is:
a. The firms sell a standardized product.
b. Market demand for the product is perfectly elastic.
c. Firms can easily buy and sell the productive resources
necessary to compete in the market.
d. A, B, and C.
e. A and C but not B.
4.
Reference: 6-3
If the market price for this good is $6, how many units would this
supplier produce?
(2.50 points)
Your response:
d.
300 (You answered correctly!)
Feedback :
Learning Objective: Thinking about supply
Level of Learning: Application
Source: Unique
Type: Calculation Problem
2.50 points awarded.
The correct answer is:
a. 50
b. 150
c. 250
d. 300
e. 350 or more
5. One reason that variable factors of production tend to show
diminishing returns in the short run is that
(2.50 points)
Your response:
c.
there are too many workers using a fixed amount of productive
resources.
(You answered correctly!)
Feedback :
Learning Objective: Production in Short Run
Level of Learning: Application
Source: Unique
Type: Word Problem
2.50 points awarded.
The correct answer is: a. costs are too high.
b. too much capital equipment is idle.
c. there are too many workers using a fixed amount of
productive resources.
d. the firm has become too large to effectively manage
workers.
e. the cost of hiring additional workers increases as firms seek
to hire more.
6. Suppose a firm is collecting $1,250 in total revenues and the total
costs of its variable factors of production are $1,000 at its current
level of output. In the short run, one can predict that the firm will
(2.50 points)
Your response:
d.
continue to operate.
(You answered correctly!)
Feedback :
Learning Objective: Discuss the shutdown point
Level of Learning: Application
Source: Unique
Type: Calculation Problem
2.50 points awarded.
The correct answer is:
a. shutdown.
b. earn a profit.
c. earn a loss.
d. continue to operate.
e. raise its price.
7. A firm's output price is $8 and the firm is producing 77 units with a
marginal cost of $11. The firm should
(2.50 points)
Your response:
b.
decrease production.
(You answered correctly!)
Feedback :
Learning Objective: Apply price equals marginal cost rule
Level of Learning: Application
Source: Unique
Type: Calculation Problem
2.50 points awarded.
The correct answer is:
a. lower its price.
b. decrease production.
c. increase production.
d. raise its price.
e. hire more workers.
8.
