微观经济学期末考试级.pptx

时间地点时间：待定地点：待定第1页/共36页考试形式有限开卷考试中只允许使用以下物品：英文版教材 英汉词典（纸质、电子均可）计算器第2页/共36页题型题量.MULTIPLE CHOICES（单 项 选 择 15*2）.TRUE/FALSE（判断 10*2）.CALCULATION（计算填空 7*2）.SHORT ANSWER（简答 2*8）.GRAPHICALLY ANALYSES（作 图 分 析 2*10）第3页/共36页MULTIPLE CHOICES In the circular-flow diagram,a.factors of production flow from government to firms.b.goods and services flow from households to firms.c.income paid to the factors of production flows from firms to households.d.spending on goods and services flows from firms to households.ANS:C 第4页/共36页MULTIPLE CHOICESWhat will happen to the equilibrium price and quantity of new cars if the price of gasoline rises,the price of steel rises,public transportation becomes cheaper and more comfortable,and auto-workers negotiate higher wages?a.Price will fall,and the effect on quantity is ambiguous.b.Price will rise,and the effect on quantity is ambiguous.c.Quantity will fall,and the effect on price is ambiguous.d.Quantity will rise,and the effect on price is ambiguous.ANS:C 第5页/共36页MULTIPLE CHOICESFor a particular good,a 10 percent increase in price causes a 5 percent decrease in quantity demanded.Which of the following statements is most likely applicable to this good?a.There are many close substitutes for this good.b.The good is a necessity.c.The market for the good is narrowly defined.d.The relevant time horizon is long.ANS:B 第6页/共36页MULTIPLE CHOICESThe difference between accounting profit and economic profit is a.explicit costs.b.implicit costs.c.total revenue.d.marginal product.ANS:B 第7页/共36页MULTIPLE CHOICES The efficient scale of the firm is the quantity of output that a.maximizes marginal product.b.maximizes profit.c.minimizes average total cost.d.minimizes average variable cost.ANS:C 第8页/共36页MULTIPLE CHOICESIn the short run,a firm operating in a competitive industry will shut down if price is a.less than average total cost.b.less than average variable cost.c.greater than average variable cost but less than average total cost.d.greater than marginal cost.ANS:B 第9页/共36页MULTIPLE CHOICESWhich of the following is a characteristic of a natural monopoly?a.Fixed costs are typically a small portion of total costs.b.Average total cost declines over large regions of output.c.The product sold is a natural resource such as diamonds or water.d.All of the above are correct.ANS:B 第10页/共36页MULTIPLE CHOICESFor a profit-maximizing monopolist,a.PMR=MC.b.P=MR=MC.c.P MR MC.d.MR MC P.ANS:A 第11页/共36页Refer to Figure 1.The price paid by buyers after the tax is imposed is a.$3.b.$4.c.$5.d.$7.Figure 1MULTIPLE CHOICESANS:D 第12页/共36页Refer to Figure 1.Which of the following is correct?a.1/4 of the burden of the tax falls on buyers,and 3/4 of the burden of the tax falls on sellers.b.1/3 of the burden of the tax falls on buyers,and 2/3 of the burden of the tax falls on sellers.c.1/2 of the burden of the tax falls on buyers,and 1/2 of the burden of the tax falls on sellers.d.2/3 of the burden of the tax falls on buyers,and 1/3 of the burden of the tax falls on sellers.Figure 1MULTIPLE CHOICESANS:D 第13页/共36页Refer to Figure 1.How much tax revenue does this tax produce for the government?a.$24.b.$30.c.$32.d.$56.Figure 1MULTIPLE CHOICESANS:A 第14页/共36页Refer to Figure 2.If the market price is$10,what is the firms short-run economic profit?a.$9.b.$15.c.$30.d.$50.Figure 2MULTIPLE CHOICESANS:B 第15页/共36页Refer to Figure 2.The firm will earn zero economic profit if the market price is a.$0.b.$6.c.$7.d.$10.Figure 2MULTIPLE CHOICESANS:B 第16页/共36页TRUE/FALSE Economic growth causes a production possibilities frontier to shift outward.ANS:T 第17页/共36页TRUE/FALSE If the demand for a good falls when income falls,then the good is called an inferior good.ANS:F 第18页/共36页TRUE/FALSE A If we observe that when the price of chocolate increases by 10%,total revenue increases by 10%,then the demand for chocolate is unit price elastic.ANS:F第19页/共36页TRUE/FALSE A tax burden falls more heavily on the side of the market that is less elastic.ANS:T第20页/共36页 The area below the demand curve and above the supply curve measures the producer surplus in a market.TRUE/FALSE ANS:F第21页/共36页TRUE/FALSEIf the marginal cost of producing the tenth unit of output is$3,and if the average total cost of producing the tenth unit of output is$2,then at ten units of output,average total cost is rising.ANS:T第22页/共36页TRUE/FALSEIn the long run,a firm should exit the industry if its total costs exceed its total revenues.ANS:T第23页/共36页TRUE/FALSELike competitive firms,monopolies choose to produce a quantity in which marginal revenue equals marginal cost.ANS:T第24页/共36页CALCULATION Suppose demand is given by the equation Qd=400-2P,and supply is given by the equation Qs=100+3P.The equilibrium price in this market is$and the equilibrium quantity is .ANS:60，280第25页/共36页CALCULATION A small family farm sold its output for$100,000 in a given year.The family spent$25,000 on fuel,$40,000 on seed,fertilizer,and$25,000 on equipment.The family members could have earned$20,000 working at other occupations.The accounting profit for the family farm is$and the economic profit is$.ANS:10000，-10000第26页/共36页CALCULATIONA competitive firm is maximizing its profit by selling 150 units of output.The firms marginal cost is$8 and its average total cost is$6.The firms profit amounts to$_.ANS:300第27页/共36页SHORT ANSWERWhy is a firms average-total-cost curve U-shaped?How and why does it differ in the short run and in the long run?第28页/共36页SHORT ANSWER(1)The average-total-cost curve is U-shaped because the firm initially is able to spread out fixed costs over additional units,but as quantity increases,it costs more to increase quantity further because an important input is limited.第29页/共36页SHORT ANSWER(2)In the long run,a firm can adjust the factors of production that are fixed in the short run;for example,it can increase the size of its factory.As a result,the long-run average-total-cost curve has a much flatter U-shape than the short-run average-total-cost curve.In addition,the long-run curve lies along the lower envelope of the short-run curves.第30页/共36页GRAPHICALLY ANALYSESSuppose we are analyzing the market for cars.Graphically illustrate the impact each of the following would have on demand or supply.Also show how equilibrium price and quantity have changed.a.A stock-market boom makes people wealthier.b.A strike by steelworkers raises steel prices.第31页/共36页GRAPHICALLY ANALYSESa.Because cars are normal goods,an increase in peoples wealth will shift the demand curve for car to the right,both P and Q will rise.第32页/共36页GRAPHICALLY ANALYSESb.Because steel is an input in the production of cars,higher steel prices will shift the supply curve of cars to the left,P will rise and Q will decrease.第33页/共36页Under what conditions will a competitive firm have profits in the short run?Under what conditions will it have losses in the short run?Graph your answer.GRAPHICALLY ANALYSES第34页/共36页 Profit=(P ATC)Q.A competitive firm will earn profits if P ATC.A competitive firm will suffer losses if P ATC.GRAPHICALLY ANALYSESPriceQuantity 0(a)A firm with profitsProfit MCATCP=AR=MRPQ(profit-maximizing quantity)ATCPriceQuantity 0(b)A firm with lossesLossMCATCP=AR=MRPQ(loss-minimizing quantity)ATC第35页/共36页感谢您的观看！第36页/共36页