最新版微观经济学精品习题英文版 (with answer) (16)
最新版微观经济学精品习题英文版 (with answer) (5)
Chapter 5 Elasticity and Its Application1. If price elasticity of demand is2.0, this implies that consumers would ( c )a.buy twice as much of the good if price falls by 10 percent.b.require a 2 percent cut in price to raise quantity demanded of the good by 1percent.c.buy 2 percent more of the good in response to a 1 percent cut in price.d.require at least a $2 increase in price before showing any response to the priceincrease.2. If the price elasticity of demand within the price range from $1 and $1.25 for carrots is0.79 and for radishes is 1.6, then within that price range ( b )a.carrots are more price elastic than radishes.b.radishes are more price elastic than carrots.c.carrots and radishes must be substitute goods.d.carrots and radishes must be complementary goods.3. S ue’s Bagel Shop wants to estimate how responsive bagels are to a change in cream cheese prices. To accomplish this task, the following data would NOT be needed? ( a )a.Percentage change in bagel price.b.Original price of cream cheese.c.New quantity of bagels sold.d.Original quantity of bagels sold.4. If Weiskamp T-Shirt Co. lowers its price from $6 to $5 and finds that students increase their quantity demanded from 400 to 600 T-shirts, then the demand for Weiskamp T-shirts within this price range is ( b )a.price inelastic. c. unit elastic.b.price elastic.d. cross elastic.5. The slope of the demand curve is not the same as the price elasticity of demand because the slope of a demand curve ( b )pares percentage changes in quantity demanded and price.pares absolute changes in quantity demanded and price.c.obeys the law of demand.d.is not constant when the demand curve is linear.6. The cross elasticity of demand for substitute goods must be ( d )a.greater than one. c. zero.b.less than one. d. greater than zero.7. A 5 percent increase in the price of sugar reduces sugar consumption by about 10 percent. The increase causes households to ( b )a.spend more on sugar.b.spend less on sugar.c.spend the same amount on sugar.d.consumer more goods like coffee and tea that are complements of sugar.8. As a result of running high temperature this summer in the south of China, the corn crop declined sharply. If corn growers experienced an increase in sales revenue, the demand for corn must be ( b )a.price elastic. c. unitary elastic.b.price inelastic.d. perfectly inelastic.9. The U.S. Post Office finds that it now has extra costs associated with decontaminating first class mail for anthrax（炭疽病）. It is considering a rate hike, but it will only be successful in raising more revenue to pay for these additional costs if ( c )a.there are many substitutes for first class mail service.b.no anthrax is found on the mail.c.the demand for first class mail service is inelastic.d.the rate increase is a very large one.10. Suppose that the elasticity of supply of lawn mowers is 1.5. If the price of lawn mowers rises 5 percent, the quantity supplied of lawn mowers would ( b )a.decline 7.5 percent. c. rise 1.5 percent.b.rise 7.5 percent. d. rise 0.3 percent.11. A decrease in supply will raise the equilibrium price most when demand is ( b )a.relatively elastic. c. unit elastic.b.relatively inelastic.d. perfectly elastic.。
最新版微观经济学精品习题英文版ch07
Chapter 7 Consumers, Producers, and the Efficiency of Markets1. Which of the following best explains the source of consumer surplus for good A? ( )a.Many consumers would be willing to pay more than the market price for good A.b.Many consumers pay prices that are greater than the equilibrium price of good A.c.Many consumers think the market price of good A is greater than its cost.d.Many consumers think the price elasticity of demand for good A is unit elastic.2. If you had been willing to pay $2.19 for the gallon of milk purchased at the supermarket but were required to pay only $1.89, you have gained ( )a. a refund of $.30 from the clerk.b. a consumer surplus amounting to $.30.c.excess marginal benefit of $2.19.d.producer surplus of $.30.3. The demand curve shows ( )a.the highest price buyers actually pay for each unit of a good and the amountthey would buy.b.the highest price buyers would be willing and able to pay for each unit of thegood or the amount purchased at each price.c.the consumer surplus buyers gain from each unit of the good if they were topurchase it.d.the enjoyment consumers get from each unit of the good if they were topurchase.4. The area underneath a demand curve down to the equilibrium price is ( )a.always less than the area under the supply curve.b.always greater than the area under the supply curve.c.consumer surplus.d.producer surplus.5. The benefit to a producer of selling a good at the equilibrium price is called ( )a.producer surplus.b.consumer surplus.c.welfare economies.d.efficiency gain.6. Sellers’ costs of producing various units of the good are shown by the ( )a.height of the demand curve.b.width of the demand curve.c.width of the supply curve.d.height of the supply curve.7. An economically efficient situation is one in which ( )a.everyone has everything they need.b.everyone has above-average income.c.total surplus is maximized.d.all producers are operating at the lowest possible marginal cost.8. An equilibrium when there is perfect competition ( )a.is undesirable.b.is economically efficient.c.leads to high consumer surplus at the expense of producer surplus.d.can be economically efficient only if the government steps in with price floorsto protect sellers.9. One way of measuring the economic inefficiency in a specific situation is to calculate the ( )a.difference between the price of the good in the inefficient situation and theprice if the situation was efficient.b.change in revenue reported by firms.c.loss in consumer and producer surplus relative to an efficient solution.d.change in economic profits relative to an efficient solution.10. Equity involves( )a.whether or not the outcome of an economic system is an large as possible.b.whether or not the outcome of an economic system is divided fairly amongparticipants.c.the way that government becomes involved in fighting for an efficientallocation of resources.d.maximization of total surplus.。
曼昆微观经济学经济学十大原理 英文版
how firms decide how much to produce, how many workers to hire（企业决策：生产（数量）、雇佣工人数量）
how society decides how to divide its resources between national defense, consumer goods, protecting the environment, and other needs（国家决策：国防、消费品、环 4 TEN PRINCIPLES OF ECONOMICS 保等）
Tradeoff的原因本质是：资源的稀缺性
TEN PRINCIPLES OF ECONOMICS
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HOW PEOPLE MAKE DECISIONS Principle #1: 人们面临权衡取舍 People Face Tradeoffs
Exampense requires resources that could
机会成本也来源于资源稀缺性，由于机会成本的存在从而需要取
舍。
机会成本是人们选择，而放弃其他全部选择中收益最大的部分。
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HOW PEOPLE MAKE DECISIONS
Principle #2: 某种东西的成本是为了得到它而放弃的东西
The Cost of Something Is What You Give Up to Get It
TEN PRINCIPLES OF ECONOMICS
12
HOW PEOPLE MAKE DECISIONS
Principle #3: 理性人考虑边际量
Rational People Think at the Margin Rational people
微观经济学试题及答案英文
微观经济学试题及答案英文Microeconomics Exam Questions and AnswersQuestion 1: Define the law of demand and explain how itrelates to the concept of price elasticity of demand.Answer 1: The law of demand states that, all else being equal, the quantity demanded of a good or service will decrease asthe price increases. Price elasticity of demand measures the responsiveness of the quantity demanded to a change in price. If the quantity demanded changes significantly in response to a price change, the demand is said to be elastic. Conversely, if the quantity demanded changes very little, the demand is inelastic.Question 2: What is the difference between a firm's total revenue and marginal revenue?Answer 2: Total revenue is the total income received by afirm from selling its product, calculated as the price perunit multiplied by the quantity sold. Marginal revenue, onthe other hand, is the additional revenue generated fromselling one more unit of the product. It is the change intotal revenue divided by the change in quantity sold. In a perfectly competitive market, marginal revenue equals the price, but in a market with some degree of monopoly power, marginal revenue is less than the price.Question 3: Explain the concept of consumer surplus and howit is calculated.Answer 3: Consumer surplus is the difference between what consumers are willing to pay for a good or service and what they actually pay. It is a measure of the welfare gain to consumers from participating in a market. It is calculated by finding the area under the demand curve but above the market price, which represents the total amount consumers would have been willing to pay for each unit up to the quantity they actually purchase.Question 4: What is the marginal cost and how does it relateto a firm's decision to produce?Answer 4: Marginal cost is the cost of producing oneadditional unit of a good or service. It is the change intotal cost resulting from producing one more unit. Firms will continue to produce additional units as long as the marginal cost is less than the marginal revenue. If the marginal cost exceeds the marginal revenue, the firm will reduce production, as producing one more unit would result in a loss.Question 5: Define economies of scale and explain how they affect a firm's cost structure.Answer 5: Economies of scale refer to the cost advantagesthat a firm experiences when it increases its level of output. As the scale of production increases, the average cost perunit of output decreases due to factors such as spreadingfixed costs over more units, specialization of labor, andbulk purchasing discounts. This can lead to lower per-unit costs and potentially higher profits.Question 6: What is the difference between a normal good and an inferior good?Answer 6: A normal good is a good for which the demand increases as consumers' income increases. In contrast, an inferior good is a good for which the demand decreases as consumers' income increases. This is because consumers tend to substitute inferior goods with superior or higher-quality goods when their income rises.End of ExamPlease note that this is a sample set of microeconomics exam questions and answers. The actual content of an exam would depend on the specific topics covered in the course and the level of difficulty desired by the instructor.。
(完整版)微观经济学习题集及答案
第一章导论（一)选择题1．现有资源不能充分满足人的欲望这一事实被称为（ B ）。
A、机会成本 B、稀缺性 C、规范经济学 D、生产什么的问题2．经济学可定义为（ C ）。
A、研究政府如何对市场机制进行干预的科学B、消费者如何获取收入并进行消费的学说C、研究如何最合理地配置稀缺资源于诸多经济性用途的科学D、企业取得利润的活动3．经济学研究的基本问题包括( D ）。
A、生产什么，生产多少 B、怎样生产 C、为谁生产 D、以上问题均正确4．“富人的所得税税率比穷人高”是（ D )。
A、规范的表述 B、实证的表述 C、否定的表述 D、理论的表述5．当经济学家说人们是理性的时，这是指（ B ）.A、人们不会作出错误的判断B、人们总会从自己的角度作出最好的决策C、人们根据完全的信息而行事D、人们不会为自己所作出的任何决策而后悔6．研究个别居民户与厂商决策的经济学称为（ B ）。
A、宏观经济学 B、微观经济学 C、实证经济学 D、规范经济学第二章供给和需求的基本原理（一）选择题1．下列哪种情况不可能引起玉米的需求曲线移动（ B ）.A．消费者收入增加 B．玉米价格上升 C．大豆供给量锐减 D．大豆价格上升2．某商品价格下降导致其互补品的( B ）。
A．需求曲线向左移动 B．需求曲线向右移动 C．供给曲线向右移动 D．价格上升3．下列哪种情况使总收益下降（ B ）.A．价格上升，需求缺乏弹性 B．价格上升，需求富有弹性 C．价格下降，需求富有弹性 D．价格上升,供给富有弹性4．某消费者的收入下降，而他对某种商品的需求却增加了，该商品为（ A ）.A．低档商品 B．互补品 C．替代品 D．正常商品5．交叉弹性等于－3,说明两种商品的关系是（ B ）.A．独立品B．互补品 C．替代品D．既可以相互替代,有不可以完全替代6．下面哪一种情况将导致供给的减少（ D ）。
A．消费者收入的增加 B．技术的变化 C．成本的下降 D．替代品价格的上升7．供给曲线的位置由下列哪种因素决定( D ）。
微观经济学 英文版 题库 练习完整版
Chapter 01Thinking Like an Economist Multiple Choice Questions1. Economics is best defined as the study of:A. prices and quantities.B. inflation and interest rates.C. how people make choices under the conditions of scarcity and the results of those choices.D. wages and incomes.2. Economic questions always deal with:A. financial matters.B. political matters.C. insufficient resources.D. choice in the face of limited resources.3. The range of topics or issues that fit within the definition of economics is:A. limited to market activities, e.g., buying soap.B. limited to individuals and firms.C. extremely wide, requiring only the ideas of choice and scarcity.D. very limited.4. The central concern of economics is:A. poverty.B. scarcity.C. wealth accumulation.D. overconsumption.5. The scarcity principle indicates that:A. no matter how much one has, it is never enough.B. compared to 100 years ago, individuals have less time today.C. with limited resources, having more of "this" means having less of "that."D. because tradeoffs must be made, resources are therefore scarce.6. The logical implication of the scarcity principle is that:A. one will never be satisfied with what one has.B. as wealth increases, making choices becomes less necessary.C. as wealth decreases, making choices becomes less necessary.D. choices must be made.7. If all the world's resources were to magically increase a hundredfold, then:A. the scarcity principle would still govern behavior.B. economics would no longer be relevant.C. the scarcity principle would disappear.D. tradeoffs would become unnecessary.8. The principle of scarcity applies to:A. the poor exclusively.B. all consumers.C. all firms.D. everyone—consumers, firms, governments, and nations.9. At the very least, Joe Average and Bill Gates are both identically limited by:A. their wealth.B. the 24 hours that comprise a day.C. their knowledge.D. their influence.10. Forest is a mountain man living in complete isolation in Montana. He is completely self-sufficient through hunting, fishing, and farming. He has not been in the city to buy anything in five years. One can infer:A. the scarcity principle does not apply to Forest.B. Forest is not required to make choices.C. the scarcity principle still applies because more hunting means less fishing and farming.D. Forest is very satisfied.11. The scarcity principle applies to:A. all decisions.B. only market decisions, e.g., buying a car.C. only non-market decisions, e.g., watching a sunset.D. only the poor.12. Chris has a one-hour break between classes every Wednesday. Chris can either stay at the library and study or go to the gym and work out. The decision Chris must make is:A. not an economic problem because neither one costs money.B. not an economic problem because it's an hour that is wasted no matter what Chris does.C. an economic problem because the tuition Chris pays covers both the gym and the library.D. an economic problem because Chris has only one hour during which he can study or work out.13. Josh wants to go to the football game this weekend, but he has a paper due on Monday. It will take him the whole weekend to write the paper. Josh decided to stay home and work on the paper. According to the scarcity principle, the reason Josh didn't go to the game is that:A. Josh prefers schoolwork to football games.B. writing the paper is easier than going to the game.C. Josh doesn't have enough time for writing the paper and going to the game.D. it's too expensive to go to the game.14. Whether studying the size of the U.S. economy or the number of children a couple will choose to have, the unifying concept is that wants are:A. limited, resources are limited, and thus choices must be made.B. unlimited, resources are limited, and thus choices must be made.C. unlimited, resources are limited to some but not to others, and thus some people must make choices.D. unlimited, resources are limited, and thus government needs to do more.15. The cost-benefit principle indicates that an action should be taken:A. if the total benefits exceed the total costs.B. if the average benefits exceed the average costs.C. if the net benefit (benefit minus cost) is zero.D. if the extra benefit is greater than or equal to the extra costs.16. When a person decides to pursue an activity as long as the extra benefits are at least equal to the extra costs, that person is:A. violating the cost-benefit principle.B. following the scarcity principle.C. following the cost-benefit principle.D. pursuing the activity too long.17. Choosing to study for an exam until the extra benefit (improved score) equals the extra cost (mental fatigue) is:A. not rational.B. an application of the cost-benefit principle.C. an application of the scarcity principle.D. the relevant opportunity cost.18. The scarcity principle tells us that __________, and the cost-benefit principle tells us __________.A. choices must be made; how to make the choicesB. choices must be made; that the costs can never outweigh the benefits of the choicesC. rare goods are expensive; that the costs should outweigh the benefits of the choicesD. rare goods are expensive; that the costs can never outweigh the benefits of the choices19. According to the cost-benefit principle:A. the lowest cost activity usually gives the lowest benefit.B. a person should always choose the activity with the lowest cost.C. a person should always choose the activity with the greatest benefit.D. the extra costs and benefits of an activity are more important considerations than the total costs and benefits.20. A rational person is one who:A. is reasonable.B. makes choices that are easily understood.C. possesses well-defined goals and seeks to achieve them.D. is highly cynical.21. The seventh glass of soda that Tim consumes will produce an extra benefit of 10 cents and has an extra cost of zero (Tim is eating at the cafeteria). Thecost-benefit principle predicts that Tim will:A. realize he has had too much soda to drink and go home.B. drink the seventh glass and continue until the marginal benefit of drinking another glass of soda is zero.C. volunteer to empty out the fountain.D. not drink the seventh glass.22. Janie must either mow the lawn or wash clothes, earning her a benefit of $30 or $45, respectively. She dislikes both equally and they both take the same amount of time. Janie will therefore choose to _________ because the economic surplus is ________.A. mow the lawn; greaterB. wash clothes; greaterC. mow the lawn; smallerD. wash clothes; smaller23. Dean decided to play golf rather than prepare for tomorrow's exam in economics. One can infer that:A. Dean has made an irrational choice.B. Dean is doing poorly in his economics class.C. the economic surplus from playing golf exceeded the surplus from studying.D. the cost of studying was less than the cost of golfing.Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer Larry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year.24. The opportunity cost of attending Elite U is:A. $50,000B. $10,000C. $20,000D. $15,00025. The opportunity cost of attending State College is:A. $30,000B. $20,000C. $15,000D. $10,00026. Larry maximizes his surplus by attending:A. Elite U, because $60,000 is greater than the benefit at the other schools.B. State College, because the difference between the benefit and cost is greatest there.C. NoName U, because Larry has a full scholarship there.D. Elite U, because the opportunity costs of attending Elite U are the lowest.27. Larry has decided to go to Elite U. Assuming that all of the values described are correct, for Larry to decide on Elite U, he must have:A. calculated his surplus from each choice and picked the one with the highest surplus.B. underestimated the benefits of attending NoName.C. miscalculated the surplus of attending Elite U.D. determined the opportunity cost of each choice and picked the one with the lowest opportunity cost.28. Jen spends her afternoon at the beach, paying $1 to rent a beach umbrella and $11 for food and drinks rather than spending an equal amount of money to go to a movie. The opportunity cost of going to the beach is:A. the $12 she spent on the umbrella, food and drinks.B. only $1 because she would have spent the money on food and drinks whether or not she went to the beach.C. the movie she missed seeing.D. the movie she missed seeing plus the $12 she spent on the umbrella, food and drinks.29. Relative to a person who earns minimum wage, a person who earns $30 per hour has:A. a lower opportunity cost of working longer hours.B. a higher opportunity cost of taking a day off.C. a lower opportunity cost of driving farther to work.D. the same opportunity cost of spending time on leisure activities.30. The opportunity cost of an activity is the value of:A. an alternative forgone.B. the next-best alternative forgone.C. the least-best alternative forgone.D. the difference between the chosen activity and the next-best alternative forgone.31. Amy is thinking about going to the movies tonight. A ticket costs $7 and she will have to cancel her dog-sitting job that pays $30. The cost of seeing the movie is:A. $7.B. $30.C. $37.D. $37 minus the benefit of seeing the movie.32. Economic surplus is:A. the benefit gained by taking an action.B. the price paid to take an action.C. the difference between the benefit gained and the cost incurred of taking an action.D. the wage someone would have to earn in order to take an action.33. The Governor of your state has cut the budget for the University and increased spending on Medicaid. This is an example of:A. the pitfalls of considering average costs instead of marginal costs.B. poor normative economic decision making.C. poor positive economic decision making.D. choice in the face of limited resources.34. Sally earned $25,000 per year before she became a mother. After she becamea mother, she told her employer that her opportunity cost of working is now $50,000, and so she is not willing to work for anything less. Her decision is based on:A. the high cost of raising a child.B. her desire to save for her child's college expenses.C. her increased value to her employer.D. the value she places on spending time with her child.35. Alex received a four-year scholarship to State U. that covered tuition and fees, room and board, and books and supplies. As a result:A. attending State U. for four years is costless for Alex.B. Alex has no incentive to work hard while at State U.C. the cost of attending State U. is the amount of money Alex could have earned working for four years.D. the cost of attending State U. is the sum of the benefits Alex would have had attending each of the four other schools to which Alex had been admitted.36. Suppose Mary is willing to pay up to $15,000 for a used Ford pick-up truck, but she finds one for $12,000. Her __________ is __________.A. benefit; $12,000B. cost; $15,000C. economic surplus; $3,000D. economic surplus; $12,00037. In general, rational decision making requires one to choose the actions that yield the:A. largest total benefits.B. smallest total costs.C. smallest net benefits.D. largest economic surpluses.38. Suppose the most you would be willing to pay for a plane ticket home is $250, but you buy one online for $175. The economic surplus of buying the online ticket is:A. $175.B. $250.C. $75.D. $0.39. The use of economic models, like the cost-benefit principle, means economists believe that:A. this is exactly how people choose between alternatives.B. this is a reasonable abstraction of how people choose between alternatives.C. those who explicitly make decisions this way are smarter.D. with enough education, all people will start to explicitly make decisions this way.40. Jenna decides to see a movie that costs $7 for the ticket and has an opportunity cost of $20. After the movie, she says to one of her friends that the movie was not worth it. Apparently:A. Jenna failed to apply the cost-benefit model to her decision.B. Jenna was not rational.C. Jenna overestimated the benefits of the movie.D. Jenna underestimated the benefits of the movie.41. Most of us make sensible decisions most of the time, because:A. we know the cost-benefit principle.B. subconsciously we are weighing costs and benefits.C. most people know about the scarcity principle.D. we conduct hypothetical mental auctions when we make decisions.42. Suppose a person makes a choice that seems inconsistent with the cost-benefit principle. Which of the following statements represents the most reasonable conclusion to draw?A. The person (explicitly or implicitly) over-estimated the benefits orunder-estimated the costs or both.B. The cost-benefit principle is rarely true.C. The person does not grasp how decisions should be made.D. The person is simply irrational.43. Economic models are intended to:A. apply to all examples equally well.B. eliminate differences in the way people behave.C. generalize about patterns in decision-making.D. distinguish economics students from everyone else.44. Economic models claim to be:A. reasonable abstractions of how people make choices, highlighting the most important factors.B. exact replications of the decision-making process people use.C. interesting chalkboard exercises with little applicability to the real world.D. exceptionally accurate methods of predicting nearly all behavior of everyone.45. The cost-benefit model used by economists is:A. unrealistic because it is too detailed and specific to apply to a variety of situations.B. unrealistic because everyone can think of times when he or she violated the principle.C. useful because everyone follows it all of the time.D. useful because most people follow it most of the time.46. Barry owns a clothing store in the mall and has asked two economic consultants to develop models of consumer behavior that he can use to increase sales. Barry should choose the model that:A. does not include simplifying assumptions.B. is the most detailed and complex.C. assumes that consumers apply the cost-benefit principle.D. predicts that consumers will always prefer Barry's store to the competing stores.47. Economists use abstract models because:A. every economic situation is unique, so it is impossible to make generalizations.B. every economic situation is essentially the same, so specific details are unnecessary.C. they are useful for describing general patterns of behavior.D. computers have allowed economists to develop abstract models.48. Most people make some decisions based on intuition rather than calculation. This is:A. irrational, because intuition is often wrong.B. consistent with the economic model of decision-making, because calculating costs and benefits leads to decision-making pitfalls.C. consistent with the economic model because people intuitively compare the relative costs and benefits of the choices they face.D. inconsistent with the economic model, but rational because intuition takes into account non-financial considerations.49. Moe has a big exam tomorrow. He considered studying this evening, but decided to go out with Curly instead. Since Moe always chooses rationally, it must be true that:A. the opportunity cost of studying tonight is less than the value Moe gets from spending time with Curly.B. the opportunity cost of studying tonight is equal to the value Moe gets from spending time with Curly minus the cost of earning a low grade on the exam.C. Moe gets more benefit from spending time with Curly than from studying.D. Moe gets less benefit from spending time with Curly than from studying.50. If one fails to account for implicit costs in decision making, then applying the cost-benefit rule will be flawed because:A. the benefits will be overstated.B. the costs will be understated.C. the benefits will be understated.D. the costs will be overstated.Your classmates from the University of Chicago are planning to go to Miami for spring break, and you are undecided about whether you should go with them. The round-trip airfares are $600, but you have a frequent-flyer coupon worth $500 that you could use to pay part of the airfare. All other costs for the vacation are exactly $900. The most you would be willing to pay for the trip is $1400. Your only alternative use for your frequent-flyer coupon is for your trip to Atlanta two weeks after the break to attend your sister's graduation, which your parents are forcing you to attend. The Chicago-Atlanta round-trip airfares are $450.51. If you do not use the frequent-flyer coupon to fly, should you go to Miami?A. Yes, your benefit is more than your cost.B. No, your benefit is less than your cost.C. Yes, your benefit is equal to your cost.D. No, because there are no benefits in the trip.52. What is the opportunity cost of using the coupon for the Miami trip?A. $100B. $450C. $500D. $55053. If you use the frequent-flyer coupon to fly to Atlanta, would you get any economic surplus by making the trip?A. No, there is a loss of $50.B. Yes, surplus of $350.C. Yes, surplus of $400.D. Yes, surplus of $100.54. If the Chicago-Atlanta round-trip air fare is $350, should you go to Miami?A. No, there is a loss of $50.B. No, there is a loss of $100.C. Yes, there is economic surplus of $50.D. Yes, there is economic surplus of $400.55. Pat earns $25,000 per year (after taxes), and Pat's spouse, Chris, earns $35,000 (after taxes). They have two pre-school children. Childcare for their children costs $12,000 per year. Pat has decided to stay home and take care of the children. Pat must:A. value spending time with the children by more than $25,000.B. value spending time with the children by more than $12,000.C. value spending time with the children by more than $13,000.D. value spending time with the children as much as does Chris.You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. (Assume that you would not have been willing to pay any more than $35 for this concert.) Your boss called and she is looking for someone to cover a shift on Saturday at the same time as the concert. You will have to work 4 hours and she will pay you time and a half, which is $9/hr.56. Should you go to the concert instead of working Saturday?A. Yes, your benefit is more than your cost.B. No, your benefit is less than your cost.C. Yes, your benefit is equal to your cost.D. No, because there are no benefits in the concert.57. What is the opportunity cost of going to the concert?A. $1B. $9C. $35D. $3658. What is your opportunity cost, if you go to work on Saturday?A. $0B. $9C. $35D. $3659. Your economic surplus of going to work on Saturday is:A. $0B. $1C. $35D. $36Matt has decided to purchase his textbooks for the semester. His options are to purchase the books via the Internet with next day delivery to his home at a cost of $175, or to drive to campus tomorrow to buy the books at the university bookstore at a cost of $170. Last week he drove to campus to buy a concert ticket because they offered 25 percent off the regular price of $16.因为他们提供75折的正常价格16美元。
最新版微观经济学精品习题英文版ch13
Chapter 13 The Costs of Production1. 2. 3. 4. 5. 6. 7. 8. 9. 10. _ __11. 12. 13. 14. 15. 16. 17. 18. 19. 20. _ __1. Which of the following is an implicit cost? ( )a.Salaries paid to workers who work for the firm.b.Interest on money borrowed to finance equipment purchases.c.Cash payments for raw materials.d.Foregone rent on office space owned and used by the firm.2. Sarah has been working for a law firm and earning an annual salary of $90,000. She decides to open her own practice. Her annual expenses will include $15,000 for office rent, $3,000 for equipment rental, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Sarah will cover her start-up expenses by cashing in a $20,000 certificate of deposit on which she was earning annual interest of $1,000. Assuming that there are no additional expenses, Sarah’s annual implicit costs wil l equal ( )a.$55,200.b. $221,400.c. $91,000.d. $146,200.3. Economists assume that the goal of the firm is to ( )a.maximize total revenue. c. minimize costs.b.maximize profits. d. do all of the above.4. The difference between accounting profit and economic profit relates to ( )a.the manner in which revenues are defined.b.how total revenue is calculated.c.the manner in which costs are defined.d.the price of the good in the market.5. As Al’s Radiator Co. continues to add workers, while keeping the same amount of machinery, some workers may be underutilized because they have little work to do while waiting in line to use the machinery. When this o ccurs, Al’s Radiator Co. encounters ( )a.economies of scale. c. increasing marginal product.b.diseconomies of scale. d. diminishing marginal product.6. Which of the following is the best example of a variable cost? ( )a.Monthly payments for hired labor.b.Property tax payments.c.Monthly rent payments for a warehouse.d.Pension payments to retired workers.7. Smith Tire Co. has total fixed costs of $100,000 per year. The firm’s average vari able cost is $80 for 10,000 tires. At that level of output, the firm’s average total costs equal ( )a.$90.b. $100.c. $110.d. $120.8. Miller Technologies has average variable costs of $6 and average total costs of $10 when it produces 1,000 units of output. The firm’s total fixed costs equal ( )a.$2,000.b. $3,000.c. $4,000.d. $5,000.9. At a firm’s current output level of 200 units per week, it has 10 employ ees at a weekly wage of $500 each. Raw materials, which are ordered and delivered daily, cost $1,000 per week. The weekly cost of the firm’s capital is $1,250. Which of the following statements is correct? ( )TOTAL VARIABLE COST TOTAL FIXED COST TOTAL COSTa. $5,000 $2,250 $7,250b. $6,000 $1,250 $7,250c. $1,250 $6,000 $7,250d. $2,250 $ 500 $2,75010. If marginal cost is greater than average total cost then ( )a.profits are increasing.b.economies of scale are becoming greater.c.average total cost remains constant.d.average total cost is increasing.11. When the marginal product of labor falls, the marginal cost of output ( )a.falls, then rises. c. rises.b.becomes negative. d. remains constant.12. The minimum points of the average variable cost and average total cost curves occur where ( )a.the marginal cost curve lies below the average variable cost and average totalcost curves.b.the marginal cost curve intersects those curves.c.wages are the lowest.d.the slope of total cost is the smallest.13. If Franco’s Pizza Parlor knows that the marginal cost of the 500th pizza is $3.00 and that the average total cost of making 499 pizzas is $3.30, then ( )a.average costs are rising at Q = 500.b.average costs are falling at Q = 500.c.total costs are falling at Q = 500.d.average variable costs must be falling.14. Economies of scale ( )a.requires a change in the size of operations and therefore is a long-runconsideration.b.requires a more intensive use of existing plant and therefore is a short-runconsideration.c.means that a doubling of plant size will double output.d.requires a change in the size of plant and therefore is a short-run consideration.15. Some reasons that firms may experience diseconomies of scale include ( )a.the firm is too small to take advantage of specialization.rge management structures may be bureaucratic and inefficient.c.if there are too many employees, the work place becomes crowded and peoplebecome less productive.d.average fixed costs begin to rise again.16. A local bagel company plans to keep and maintain its bagel factory, which is estimated to last 25 years. All cost decisions it makes during the 25-year period ( )a.are short-run decisions.b.are long-run decisions.c.involve only maintenance of the factory.d.are zero, since the cost decisions were made at the beginning of the business.。
最新版微观经济学精品习题英文版ch10
Chapter 10 Externalities1. 2. 3. 4. 5. 6. 7. 8. 9. 10. .11. 12. 13. 14. 15. .1. Market failure in the form of externalities arises when ( )a.production costs are included in the prices of goods.b.not all costs and benefits are included in the prices of goods.c.the benefits exceed the costs of consuming goods.d.the market fails to achieve equilibrium.2. Which of the following is an example of a positive externality? ( )a.Air pollution.b. A person litters in a public park.c. A nice garden in front of your neighbor’s house.d.The pollution of a stream.3. The social cost of a good is ( )a.its benefit to the people who buy and consume it.b.its total benefit to everyone in society.c.its cost to everyone in the society that occurs in addition to the private costs.d.the cost paid by the firm that produces and sells it.4. The private benefit of consuming a good is ( )a.its benefit to the people who buy and consume it.b.its total benefit to everyone in the society.c.its cost to everyone in the society.d.the cost paid by the firm that produces and sells it.5. When a person drives a car that pollutes the air ( )a.the private cost of consuming the car’s services exceeds the social cost.b.the private benefit of consuming the car’s services exceeds the social benefit.c.the social cost of consuming the car’s services exceeds the private cost.d.the social benefit of consuming the car’s services exceeds the private benefits.6. If a perfectly competitive industry is not forced to take account of a negative externality it creates, it will produce where ( )a.the marginal cost of production equals the marginal private benefit.b.the marginal cost of production equals the marginal social benefit.c.the marginal social cost of production equals the marginal social benefit.d.price equals marginal social benefit.7. Flu shots are associated with a positive externality. (Those who come in contact with people who are inoculated are helped as well.) Given perfect competition with no government intervention in the vaccination market, which of the following holds? ( )a.At the current output level, the marginal social benefit exceeds the marginalprivate benefit.b.The current output level is inefficiently low.c. A per-shot subsidy could turn an inefficient situation into an efficient one.d.All of the above hold.8. Because there are positive externalities from higher education, ( )a.private markets would provide too little of it.b.private markets would provide too much of it.c.the government should impose a tax on college students.d.the government should impose a tax on students’ families.9. Internalizing an externality means ( )a.the good becomes a public good.ernment regulations or taxes are sufficient to eliminate the externalitycompletely.ernment imposes regulations that eliminate the externality completely.d.incentives are altered so that people take account of the external effects oftheir actions.10. Why can’t private individuals always internalize an externality without the help of government? ( )a.Legal restrictions prevent side payments between individuals.b.Transactions costs may be too high.c.Side payments between individuals are inefficient.d.Side payments between individuals violate equity standards.11. A dentist shared an office building with a radio station. The electrical current from the dentist’s drill causes static in the radio bro adcast, causing the radio station to lose $10,000 in discounted future profits. The radio station could put up a shield at a cost of $30,000; the dentist could buy a new drill that causes less interference for $6,000. Either would restore the radio stati on’s lost profits. What is the economically efficient outcome? ( )a.The radio station puts up a shield, which it pays for.b.The radio station puts up a shield, which the dentist pays for.c.The radio station does not put up a shield and the dentist does not buy a newdrill.d.The dentist gets a new drill and it does not matter who pays for it.12. What economic argument suggests that if transactions costs are sufficiently low, the equilibrium is economically efficient regardless of how property rights are distributed? ( )a.The Coase Theorem.b.Say’s Law.c.The Law of Comparative Advantage.d.The Law of Supply.13. A benefit of taxes over regulation to internalize externalities is ( )a.it is easier to choose the optimal amount of taxes than the optimal amount ofregulation.b.regulations are more difficult to impose than taxes.c.taxes equate the social costs with the social benefits.d.taxes provide incentives to adopt new methods to reduce the externality.14. If the government wants to tax a polluter, the economically efficient outcome occurs when ( )a.the marginal tax equals the marginal cost to other people from the pollution.b.the average tax equals the average cost to other people from the pollution.c.the total tax equals the total cost to other people from the pollution.d.the tax is high enough to stop pollution completely.。
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Chapter 17 Monopolistic Competition
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. _ __.
11. 12. 13. 14. 15. 16. 17. 18. 19. 20. _ __.
1. Because monopolistically competitive firms produce differentiated products, each firm ( d )
a.faces a demand curve that is horizontal.
b.faces a demand curve that is vertical.
c.has no control over product price.
d.has some control over product pric
e.
2. Which of the following conditions distinguishes monopolistic competition from perfect competition? ( d )
a. Number of sellers.
b. Freedom of entry and exit.
c. Small size firms.
d. Differentiation of product.
3. A firm in a monopolistically competitive market is similar to a monopolist in the sense that it ( b )
a.must overcome significant barriers to entry.
b.faces a downward-sloping demand curve.
c.there are no barriers to entry or exit.
d.there is only one seller of the good.
4. If existing firms in the fast-food market, which is a monopolistically competitive market, realize sizable economic profits in the short run, the demand of existing firms will ( a )
a.decrease and become more elastic.
b.decrease and become less elasti
c.
c.increase and become more elastic.
d.increase and become less elastic.
5. When a monopolistically competitive firm raises its price, ( b )
a.quantity demanded falls to zero.
b.quantity demanded declines, but not to zero.
c.the market supply curve shifts outwar
d.
d.quantity demanded remains constant.
6. Which of the following is a characteristic of oligopoly or monopolistic competition, but not perfect competition? ( a )
a. Advertising and sales promotion.
b. Profit maximization according to the MR = MC rule.
c. Firms being price takers rather than price makers.
d. Horizontal demand and marginal revenue curves.
7. Cecilia’s Café is a monopolistic competitor. If Cecilia’s is currently producing at the output level where her average total cost is minimized and the café is earning economic profits, then in the long run output will ( a )
a. decrease and average total cost will increase.
b. decrease and average total cost will decrease.
c. remain unchanged as Cecilia’s is doing the best it can.
d. increase and average total costs will decreas
e.
8. In the long run, freedom of entry into a market forces a ________ to charge a price equal to average total cost, but average total cost exceeds its minimum level. ( b )
a.perfectly competitive firm
b.monopolistically competitive firm
c.oligopolistic firm
d.monopoly
9. Which of the following best describes the idea of excess capacity in monopolistic competition? ( b )
a.Firms produce more output than is socially desirable.
b.The output produced by a typical firm is less than what would occur at the
minimum point on its ATC curve.
c.Due to product differentiation, firms choose output levels where P>ATC.
d.Firms keep some surplus output on hand in case there is a shift in the demand
for their product.。