Principles of Microeconomics-上海外國語大學(xué)中國大學(xué)mooc課后章節(jié)答案期末考試題庫2023年

PrinciplesofMicroeconomics_上海外國語大學(xué)中國大學(xué)mooc課后章節(jié)答案期末考試題庫2023年WhenthenationofIsolandallowstradeandbecomesanimporterofpotatoes,

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residentsofIsolandwhoproducepotatoesbecomeworseoff;residentsofIsolandwhobuypotatoesbecomebetteroff;andtheeconomicwell-beingofIsolandrises.

Thepriceofsoybeansthatprevailsininternationalmarketsiscalledthe

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worldpriceofsoybeans.

Iftheequilibriumpriceofanairlineticketis￥1000andthegovernmentimposesapricefloorof￥1200onairlinetickets,thenfewerairlineticketswillbesoldthanatthemarketequilibrium.

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正確

Agoodthatisexcludablebutnotrivalisknownasaclubgood.

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正確

NationalPublicRadiowouldbeconsideredaclubgood.

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錯(cuò)誤

Ifthesizeofataxincreases,taxrevenue

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mayincrease,decrease,orremainthesame.

Whenataxisleviedonthebuyersofagood,thedemandcurveshifts

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downwardbytheamountofthetax.

Ataxleviedonthesellersofagoodshiftsthe

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supplycurveupward.

Whenataxisplacedonaproduct,thepricepaidbybuyers(),andthepricereceivedbysellers().

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rises;falls

Table2representsthecostsoffivepossiblesellers.Table2SellerCostAllen$180Bobby$135Denise$120Emily$100Clare$70RefertoTable2.Supposeeachofthefivesellerscansupplyatmostoneunitofthegood.Themarketquantitysuppliedisexactly4ifthepriceis

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$140.

Table1showstheonlyfourconsumersinthemarketforhatshavethefollowingwillingnesstopayforahat:Table1BuyerWillingnessToPayAmy$2Bob$3Carolyn$7Danny$10RefertoTable1.Ifthemarketpriceforthegoodis$8,whowillpurchasethehat?

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Dannyonly

Whenataxisplacedonthesellersofaproduct,

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buyerspaymore,andsellersreceivelessthantheydidbeforethetax.

Ifapricefloorisnotbinding,then

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theequilibriumpriceisabovethepricefloor.

Alegalmaximumonthepriceatwhichagoodcanbesoldiscalleda

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priceceiling.

Becausethedemandforricetendstobeinelastic,thedevelopmentofanew,moreproductivehybridricewouldtendto

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decreasethetotalrevenueofricefarmers.

Ifthepriceelasticityofsupplyis0.4,andapriceincreaseledtoan8%increaseinquantitysupplied,thenthepriceincreaseisabout

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20%.

Thevalueofthepriceelasticityofdemandforagoodwillberelativelylargewhen

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therearemanygoodsubstitutesavailableforthegood.

Whatwouldhappentotheequilibriumpriceandquantityofbananasifthewagesofbananapickersfellandthepriceofapplesfell?

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wouldfall,andtheeffectonquantitywouldbeambiguous.

TheticketsofShanghaiDramaticArtsCenterwerealwayssoldout,andpeoplewhowaitinlineforhoursmaybeturnedaway.Thisindicates

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theticketpriceisbelowtheequilibriumprice.

Whichofthefollowingwouldcauseamovementalongthesupplycurveforpizza?

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adecreaseinthepriceofpizza

Thesupplycurveforaproductreflectsthe

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costtosellersofproducingtheproduct.

Theshapeoftheaveragetotalcostcurverevealsinformationaboutthenatureofthebarriertoentrythatmightexistinamonopolymarket.Whichofthefollowingmonopolytypesbestcoincideswiththefigure?【圖片】

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naturalmonopoly

Whenafirmisexperiencingdiseconomiesofscale,long-run

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averagetotalcostislessthanlong-runmarginalcost.

David’sfirmexperiencesdiminishingmarginalproductforallrangesofinputs.ThetotalcostcurveassociatedwithDavid’sfirm

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getssteeperasoutputincreases.

Insettingtheproductionlevel,afirm'scostcurves

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bythemselvesdonottelluswhatdecisionsthefirmwillmake.

Whichofthefollowingwouldcauseamovementalongthesupplycurveforbread?

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adecreaseinthepriceofbread

Whichofthefollowingisnotadifferencebetweenmonopoliesandperfectlycompetitivemarkets?

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Monopolieschoosetoproducethequantityatwhichmarginalrevenueequalsmarginalcostwhileperfectlycompetitivefirmsdonot.

Katherinegivespianolessonsfor$15perhour.Shealsogrowsflowers,whichshearrangesandsellsatthelocalfarmer’smarket.Onedayshespends5hoursplanting$50worthofseedsinhergarden.Oncetheseedshavegrownintoflowers,shecansellthemfor$150atthefarmer’smarket.Katherine’saccountingprofitsare

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$100,andhereconomicprofitsare$25.

Whenacertainmonopolysetsitspriceat$8itsells64units.Whenthemonopolysetsitspriceat$10itsells60units.Themarginalrevenueforthefirmoverthisrangeis

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$22.

Whenamonopolisticallycompetitivefirmraisesitsprice,

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quantitydemandeddeclinesbutnottozero.

Whenamarketismonopolisticallycompetitive,thetypicalfirminthemarketislikelytoexperiencea

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positiveornegativeprofitintheshortrunandazeroprofitinthelongrun.

Althoughmonopolisticallycompetitivemarketsofferconsumersawidevarietyofdifferentiatedproducts,theremaystillbeinsufficientvarietyif

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therearelargefixedcostsinthemarket.

Asituationinwhichfirmschoosetheirbeststrategygiventhestrategieschosenbytheotherfirmsinthemarketiscalled

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aNashequilibrium.

Supposeyouhavepurchasedanon-refundableplaneticketand,atthelastmoment,youcannottakethetrip.Youcan,however,selltheticket.Ifyoupaid￥2,000fortheticket,andthecostofsendingthetickettosomeonethroughovernightmailis￥30,whatistheminimumyoushouldacceptfortheticket?

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$30becausethe$2,000costisasunkcost.

Whichofthefollowingisacorrectstatementaboutproductionpossibilitiesfrontiers?

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Aneconomycanproduceatanypointonorinsidetheproductionpossibilitiesfrontier,butnotoutsidethefrontier.

Inthecircular-flowdiagram,

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thefactorsofproductionarelabor,land,andcapital.

Supposeyouhavepurchasedanon-refundableconcertticketand,atthelastmoment,youcannotgototheconcert.Youcan,however,selltheticket.Ifyoupaid￥1,000fortheticket,andthecostofsendingthetickettosomeonethroughovernightmailis￥30,whatistheminimumyoushouldacceptfortheticket?

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$30becausethe$1,000costisasunkcost.

Ifyourlocalgasolinestationraiseditspriceby20percent,itssalesofgasolinewoulddecreasesubstantiallybecauseyourlocalgasstation

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Allofthethreearecorrect.

Table1showstheonlyfourconsumersinthemarketforhatshavethefollowingwillingnesstopayforahat.RefertoTable1.Ifthepriceoftheproductis$8,thenthetotalconsumersurplusisTable1BuyerWillingnessToPayAlex$2Betty$6Divid$9Jake$10

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$3.

Whenpriceisbelowaveragevariablecost,afirminacompetitivemarketwill

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shutdownandincurfixedcosts.

Ifthepriceofbananasfalls,whenisthepriceelasticityofdemandlikelytobethehighest?

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oneyearafterthepricedecrease

Alegalminimumonthepriceatwhichagoodcanbesoldiscalleda

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pricefloor.

A$5taxpergallonofpaintplacedonthebuyersofpaintwillshiftthedemandcurve

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downwardbyexactly$5.

Economistsnormallyassumethatthegoalofafirmistoearn(i)profitsaslargeaspossible,evenifitmeansreducingoutput.(ii)profitsaslargeaspossible,evenifitmeansincurringahighertotalcost.(iii)revenuesaslargeaspossible,evenifitreducesprofits.

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(i)and(ii)only

Whenafirmisexperiencingdiseconomiesofscale,long-runc.averagetotalcostislessthanlong-runmarginalcost.

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正確

Whenamarketismonopolisticallycompetitive,thetypicalfirminthemarketislikelytoexperienceapositiveornegativeprofitintheshortrunandazeroprofitinthelongrun.

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正確

IfBradley’sButcherShopsellsitsproductinacompetitivemarket,then

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Bradley’sButcherShop'stotalrevenuemustbeproportionaltoitsquantityofoutput.

Andrewproducesbasketballsandfootballs.Jackalsoproducesbasketballsandfootballs,butAndrewisbetteratproducingbothgoods.Inthiscase,tradecould

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benefit

both

Jack

and

Andrew.

SupposeFrankproducesbothtomatoesandcucumbersinhisgarden.Ifhemustgiveup15kilogramsofcucumberstoget5kilogramsoftomatoes,thenhisopportunitycostof1kilogramoftomatoesis

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3kilogramsofcucumbers.

SupposeJennycanmakethreetablesperhourorshecanmakesixchairsperhour.Bencanmaketwotablesperhourorhecanmakefivechairsperhour.

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Alloftheabovearecorrect.

Somegoodscanbeclassifiedaseitherpublicgoodsorprivategoodsdependingonthecircumstances.

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正確

Demandforagoodissaidtobeinelasticifthequantitydemandedincreasesslightlywhenthepricefallsbyalargeamount.

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正確

Acitystreetis

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acommonresourcewhenitiscongested.

Whichofthefollowingisnotapublicgood?

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patentedtechnologicalknowledge

【圖片】3.Refertothefigureabove.Theamountofrevenuecollectedbythegovernmentfromthetariffis

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$400.

Competitivefirmshave

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horizontaldemandcurves,andtheycansellasmuchoutputastheydesireatthemarketprice.

Inanoligopoly,eachfirmknowsthatitsprofits

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dependonbothhowmuchoutputitproducesandhowmuchoutputitsrivalfirmsproduce.

Supposethismarketisservedbyaduopolyinwhicheachfirmfacesthemarginalcostcurveshowninthediagram.Themarginalrevenuecurvethatamonopolistwouldfaceinthismarketisalsoshown.Whichofthefollowingstatementsistrue?【圖片】

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Thetotaloutputinthismarketwilllikelybelessthan4unitswhenthemarketisservedbyaduopoly.

ItispossibleforChinatogainfromtradewithGermanyevenifittakesChineseworkersfewerhourstoproduceeverygoodthanittakesGermanworkers.

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正確

Ifacompetitivefirmisselling900unitsofitsproductatapriceof$10perunitandearningapositiveprofit,then

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itsaveragetotalcostislessthan$10.

Insettingtheproductionlevel,afirm'scostcurveshavenobearingonwhatdecisionsthefirmwillmake.

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錯(cuò)誤

Table1showstheonlyfourconsumersinthemarketforhatshavethefollowingwillingnesstopayforahat:Table1BuyerWillingnessToPayAmy$2Bob$3Carolyn$7Danny$10RefertoTable1.Ifthepriceoftheproductis$5,thenthetotalconsumersurplusis

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$7.

Ifyourlocalgasolinestationraiseditspriceby20percent,itssalesofgasolinewoulddecreasesubstantiallybecauseyourlocalgasstationhaslittleornomarketpower.

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正確

Asituationinwhichfirmschoosetheirbeststrategygiventhestrategieschosenbytheotherfirmsinthemarketiscalledasocially-optimalsolution.

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錯(cuò)誤

Inthecircular-flowdiagram,firmsproducegoodsandservicesusingthefactorsofproduction.

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正確

Anoutcomeissaidtobeefficientifaneconomyisgettingallitcanfromthescarceresourcesithasavailable.

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正確

Ifacountryhasaloweropportunityco