Principles of Microeconomics-上海外國(guó)語(yǔ)大學(xué)中國(guó)大學(xué)mooc課后章節(jié)答案期末考試題庫(kù)2023年

PrinciplesofMicroeconomics_上海外國(guó)語(yǔ)大學(xué)中國(guó)大學(xué)mooc課后章節(jié)答案期末考試題庫(kù)2023年WhenthenationofIsolandallowstradeandbecomesanimporterofpotatoes,

參考答案:

residentsofIsolandwhoproducepotatoesbecomeworseoff;residentsofIsolandwhobuypotatoesbecomebetteroff;andtheeconomicwell-beingofIsolandrises.

Thepriceofsoybeansthatprevailsininternationalmarketsiscalledthe

參考答案:

worldpriceofsoybeans.

Iftheequilibriumpriceofanairlineticketis￥1000andthegovernmentimposesapricefloorof￥1200onairlinetickets,thenfewerairlineticketswillbesoldthanatthemarketequilibrium.

參考答案:

正確

Agoodthatisexcludablebutnotrivalisknownasaclubgood.

參考答案:

正確

NationalPublicRadiowouldbeconsideredaclubgood.

參考答案:

錯(cuò)誤

Ifthesizeofataxincreases,taxrevenue

參考答案:

mayincrease,decrease,orremainthesame.

Whenataxisleviedonthebuyersofagood,thedemandcurveshifts

參考答案:

downwardbytheamountofthetax.

Ataxleviedonthesellersofagoodshiftsthe

參考答案:

supplycurveupward.

Whenataxisplacedonaproduct,thepricepaidbybuyers(),andthepricereceivedbysellers().

參考答案:

rises;falls

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

參考答案:

$140.

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

參考答案:

Dannyonly

Whenataxisplacedonthesellersofaproduct,

參考答案:

buyerspaymore,andsellersreceivelessthantheydidbeforethetax.

Ifapricefloorisnotbinding,then

參考答案:

theequilibriumpriceisabovethepricefloor.

Alegalmaximumonthepriceatwhichagoodcanbesoldiscalleda

參考答案:

priceceiling.

Becausethedemandforricetendstobeinelastic,thedevelopmentofanew,moreproductivehybridricewouldtendto

參考答案:

decreasethetotalrevenueofricefarmers.

Ifthepriceelasticityofsupplyis0.4,andapriceincreaseledtoan8%increaseinquantitysupplied,thenthepriceincreaseisabout

參考答案:

20%.

Thevalueofthepriceelasticityofdemandforagoodwillberelativelylargewhen

參考答案:

therearemanygoodsubstitutesavailableforthegood.

Whatwouldhappentotheequilibriumpriceandquantityofbananasifthewagesofbananapickersfellandthepriceofapplesfell?

參考答案:

wouldfall,andtheeffectonquantitywouldbeambiguous.

TheticketsofShanghaiDramaticArtsCenterwerealwayssoldout,andpeoplewhowaitinlineforhoursmaybeturnedaway.Thisindicates

參考答案:

theticketpriceisbelowtheequilibriumprice.

Whichofthefollowingwouldcauseamovementalongthesupplycurveforpizza?

參考答案:

adecreaseinthepriceofpizza

Thesupplycurveforaproductreflectsthe

參考答案:

costtosellersofproducingtheproduct.

Theshapeoftheaveragetotalcostcurverevealsinformationaboutthenatureofthebarriertoentrythatmightexistinamonopolymarket.Whichofthefollowingmonopolytypesbestcoincideswiththefigure?【圖片】

參考答案:

naturalmonopoly

Whenafirmisexperiencingdiseconomiesofscale,long-run

參考答案:

averagetotalcostislessthanlong-runmarginalcost.

David’sfirmexperiencesdiminishingmarginalproductforallrangesofinputs.ThetotalcostcurveassociatedwithDavid’sfirm

參考答案:

getssteeperasoutputincreases.

Insettingtheproductionlevel,afirm'scostcurves

參考答案:

bythemselvesdonottelluswhatdecisionsthefirmwillmake.

Whichofthefollowingwouldcauseamovementalongthesupplycurveforbread?

參考答案:

adecreaseinthepriceofbread

Whichofthefollowingisnotadifferencebetweenmonopoliesandperfectlycompetitivemarkets?

參考答案:

Monopolieschoosetoproducethequantityatwhichmarginalrevenueequalsmarginalcostwhileperfectlycompetitivefirmsdonot.

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

參考答案:

$100,andhereconomicprofitsare$25.

Whenacertainmonopolysetsitspriceat$8itsells64units.Whenthemonopolysetsitspriceat$10itsells60units.Themarginalrevenueforthefirmoverthisrangeis

參考答案:

$22.

Whenamonopolisticallycompetitivefirmraisesitsprice,

參考答案:

quantitydemandeddeclinesbutnottozero.

Whenamarketismonopolisticallycompetitive,thetypicalfirminthemarketislikelytoexperiencea

參考答案:

positiveornegativeprofitintheshortrunandazeroprofitinthelongrun.

Althoughmonopolisticallycompetitivemarketsofferconsumersawidevarietyofdifferentiatedproducts,theremaystillbeinsufficientvarietyif

參考答案:

therearelargefixedcostsinthemarket.

Asituationinwhichfirmschoosetheirbeststrategygiventhestrategieschosenbytheotherfirmsinthemarketiscalled

參考答案:

aNashequilibrium.

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

參考答案:

$30becausethe$2,000costisasunkcost.

Whichofthefollowingisacorrectstatementaboutproductionpossibilitiesfrontiers?

參考答案:

Aneconomycanproduceatanypointonorinsidetheproductionpossibilitiesfrontier,butnotoutsidethefrontier.

Inthecircular-flowdiagram,

參考答案:

thefactorsofproductionarelabor,land,andcapital.

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

參考答案:

$30becausethe$1,000costisasunkcost.

Ifyourlocalgasolinestationraiseditspriceby20percent,itssalesofgasolinewoulddecreasesubstantiallybecauseyourlocalgasstation

參考答案:

Allofthethreearecorrect.

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

參考答案:

$3.

Whenpriceisbelowaveragevariablecost,afirminacompetitivemarketwill

參考答案:

shutdownandincurfixedcosts.

Ifthepriceofbananasfalls,whenisthepriceelasticityofdemandlikelytobethehighest?

參考答案:

oneyearafterthepricedecrease

Alegalminimumonthepriceatwhichagoodcanbesoldiscalleda

參考答案:

pricefloor.

A$5taxpergallonofpaintplacedonthebuyersofpaintwillshiftthedemandcurve

參考答案:

downwardbyexactly$5.

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

參考答案:

(i)and(ii)only

Whenafirmisexperiencingdiseconomiesofscale,long-runc.averagetotalcostislessthanlong-runmarginalcost.

參考答案:

正確

Whenamarketismonopolisticallycompetitive,thetypicalfirminthemarketislikelytoexperienceapositiveornegativeprofitintheshortrunandazeroprofitinthelongrun.

參考答案:

正確

IfBradley’sButcherShopsellsitsproductinacompetitivemarket,then

參考答案:

Bradley’sButcherShop'stotalrevenuemustbeproportionaltoitsquantityofoutput.

Andrewproducesbasketballsandfootballs.Jackalsoproducesbasketballsandfootballs,butAndrewisbetteratproducingbothgoods.Inthiscase,tradecould

參考答案:

benefit

both

Jack

and

Andrew.

SupposeFrankproducesbothtomatoesandcucumbersinhisgarden.Ifhemustgiveup15kilogramsofcucumberstoget5kilogramsoftomatoes,thenhisopportunitycostof1kilogramoftomatoesis

參考答案:

3kilogramsofcucumbers.

SupposeJennycanmakethreetablesperhourorshecanmakesixchairsperhour.Bencanmaketwotablesperhourorhecanmakefivechairsperhour.

參考答案:

Alloftheabovearecorrect.

Somegoodscanbeclassifiedaseitherpublicgoodsorprivategoodsdependingonthecircumstances.

參考答案:

正確

Demandforagoodissaidtobeinelasticifthequantitydemandedincreasesslightlywhenthepricefallsbyalargeamount.

參考答案:

正確

Acitystreetis

參考答案:

acommonresourcewhenitiscongested.

Whichofthefollowingisnotapublicgood?

參考答案:

patentedtechnologicalknowledge

【圖片】3.Refertothefigureabove.Theamountofrevenuecollectedbythegovernmentfromthetariffis

參考答案:

$400.

Competitivefirmshave

參考答案:

horizontaldemandcurves,andtheycansellasmuchoutputastheydesireatthemarketprice.

Inanoligopoly,eachfirmknowsthatitsprofits

參考答案:

dependonbothhowmuchoutputitproducesandhowmuchoutputitsrivalfirmsproduce.

Supposethismarketisservedbyaduopolyinwhicheachfirmfacesthemarginalcostcurveshowninthediagram.Themarginalrevenuecurvethatamonopolistwouldfaceinthismarketisalsoshown.Whichofthefollowingstatementsistrue?【圖片】

參考答案:

Thetotaloutputinthismarketwilllikelybelessthan4unitswhenthemarketisservedbyaduopoly.

ItispossibleforChinatogainfromtradewithGermanyevenifittakesChineseworkersfewerhourstoproduceeverygoodthanittakesGermanworkers.

參考答案:

正確

Ifacompetitivefirmisselling900unitsofitsproductatapriceof$10perunitandearningapositiveprofit,then

參考答案:

itsaveragetotalcostislessthan$10.

Insettingtheproductionlevel,afirm'scostcurveshavenobearingonwhatdecisionsthefirmwillmake.

參考答案:

錯(cuò)誤

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

參考答案:

$7.

Ifyourlocalgasolinestationraiseditspriceby20percent,itssalesofgasolinewoulddecreasesubstantiallybecauseyourlocalgasstationhaslittleornomarketpower.

參考答案:

正確

Asituationinwhichfirmschoosetheirbeststrategygiventhestrategieschosenbytheotherfirmsinthemarketiscalledasocially-optimalsolution.

參考答案:

錯(cuò)誤

Inthecircular-flowdiagram,firmsproducegoodsandservicesusingthefactorsofproduction.

參考答案:

正確

Anoutcomeissaidtobeefficientifaneconomyisgettingallitcanfromthescarceresourcesithasavailable.

參考答案:

正確

Ifacountryhasaloweropportunityco