微观经济学复习题(5页).doc

- 判断题1、 "Minimum wage laws result in unemployment” is a normative statement, while “the minimum wage should be higher” is a positive statement.2、 In most countries today, many goods and services consumed are imported from abroad, and many goods and services produced are exported to foreign customers.3、 Economics is the study of how society allocates its unlimited resources.4、 Choosing not to attend a concert so that you can study for your exam is an example of a tradeoff.5、 All examples of the prisoners dilemma game are characterized by one and only one Nash equilibrium.6、 If two players engaged in a prisoners dilemma game are likely to repeat the game, they are more likely to cooperate than if they play the game only once.7、 The story of the prisoners' dilemma contains a general lesson that applies to any group trying to maintain cooperation among its members.8、 In the prisoners' dilemma game, one prisoner is always better off confessing, no matter what the other prisoner does.9、 A dominant strategy is a strategy that is best for a player in a game regardless of the strategies chosen by the other players.10、 In the prisoners' dilemma game, confessing is a dominant strategy for each of the two prisoners.11、 The game that oligopolists play in trying to reach the oligopoly outcome is similar to the game that the two prisoners play in the prisoners' dilemma.12、 In the case of oligopolistic markets, self-interest makes cooperation difficult and it often leads to an undesirable outcome for the firms that are involved.13、 The decisions of the US and Soviet Union to build nuclear weapons is much like the prisoners dilemma.14、 Tuition is the single-largest cost of attending college for most students15、 The poverty rate is the percentage of the population whose family income falls below the poverty line. 16、 The invisible hand of the marketplace acts to allocate resources efficiently, but it does not necessarily ensure that resources are allocated fairly. 17、 The price elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in price.18、 The price elasticity of demand is defined as the percentage change in price divided by the percentage change in quantity demanded.19、 The demand for bread is likely to be more elastic than the demand for solid-gold bread plates.20、 In general, demand curves for necessities tend to be price elastic.21、 In general, demand curves for luxuries tend to be price elastic.22、 Goods with close substitutes tend to have more elastic demands than do goods without close substitutes.23、 The demand for Rice Krispies is more elastic than the demand for cereal in 24、 The demand for soap is more elastic than the demand for Dove soap.25、 Necessities tend to have inelastic demands, whereas luxuries tend to have elastic demands.26、 The demand for desserts tends to be more inelastic than the demand for red velvet cake.27、 Demand is inelastic if the price elasticity of demand is greater than 1.28、 Demand for a good is said to be inelastic if the quantity demanded increases substantially when the price falls by a small amount.29、 Demand for a good is said to be inelastic if the quantity demanded increases slightly when the price falls by a large amount.30、 The demand for gasoline will respond more to a change in price over a period of five weeks than over a period of five years.31、 Labor supply curves are always upward sloping.32、 A group of firms that collude is called a cartel.33、 When all firms choose their best strategy given the strategies that all the other firms have chosen, the result is a Nash equilibrium.34、 A technology spillover is a type of negative externality.35、 When firms internalize a negative externality, the market supply curve shifts to the left.36、 Government intervention always reduces monopoly deadweight loss.37、 Even though participants in the economy are motivated by self-interest, the "invisible hand" of the marketplace guides this self-interest into promoting general economic well-being.38、 The current policy on kidney donation effectively sets a price ceiling of zero.39、 Wendy is willing to pay $50 for a concert ticket and Bruce would like to receive $25. If the market price is $40 for this transaction, then the total surplus would be $15.40、 Suppose you sell a kayak for $600, but you were willing to sell it for $450. The buyer was willing to pay $650. The total surplus is $200.41、 If a market is in equilibrium, then it is impossible for a social planner to raise economic welfare by increasing or decreasing the quantity of the good.42、 Unless markets are perfectly competitive, they may fail to maximize the total benefits to buyers and sellers.43、 In order to conclude that markets are efficient, we assume that they are perfectly competitive.44、 Markets will always allocate resources efficiently.45、 When markets fail, public policy can potentially remedy the problem and increase economic efficiency.46、 In the long run, a firm should exit the industry if its total costs exceed its total revenues.47、 A profit-maximizing firm in a competitive market will earn zero profits in the long run.48、 Assumptions can simplify the complex world and make it easier to understand.49、 In a market economy, prices are the signals that guide the allocation of scarce resources.50、 When a firm operates with excess capacity, it must be in a monopolistically competitive market.论述题1、 Define what is monopoly, and explain why monopoly arise? Give 3 examples of monopolies. 2， Define total cost, average total cost,and marginal cost. Please explain how they related to each other? Graph curves of ATC and MC.3. Answer the following question related to demand and supply:a.Given the table below, graph the demand and supply curves for flashlights. Make certain to label the equilibrium price and equilibrium quantity.PriceQuantity DemandedPer MonthQuantity SuppliedPer Month$56,00010,000$48,0008,000$310,0006,000$212,0004,000$114,0002,000b.Suppose the price is currently $5. What problem would exist in the market? What would you expect to happen to price? Show this on your graph.c.Suppose the price is currently $2. What problem would exist in the market? What would you expect to happen to price? Show this on your graph.4. Based on the market structure of perfectly competitive market and monopolistic competition market，answer the following questions：（1） List and describe the characteristics of both perfectly competitive market and monopolistic market. （2） If identical firms that remain in a competitive market over the long run make zero economic profit, why do these firms choose to remain in the market?（3） What is meant by the term "excess capacity" as it relates to monopolistically competitive firms?-第 5 页-