Sample exam MEWord下载.docx
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Sample exam MEWord下载.docx
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c.backwardinduction
d.Nashequilibrium
e.noneoftheabove
2.Whenthefixedcostofproductionincreases,amonopolistshould__________.
a.raisehisprice
b.lowerhisprice
c.raisehisdemand
d.lowerhisdemand
3.ThesameiPhoneissoldatahigherpriceinJapanthaninChina.Thisisanexampleof____.
a.versioning
b.uniformpricing
c.directdiscrimination
d.indirectdiscrimination
4.Ifthedemandisadownward-slopingstraightline,thenthedemandelasticity________.
a.isthesameeverywhereontheline
b.ismoreelasticwhenpriceishigher
c.ismoreelasticwhenthepriceislower
d.noneoftheabove
5.Intwo-partpricing,theoptimalunitpricemustequalto_____.
a.buyersurplus
b.sellersurplus
c.marginalcost
d.fixedcost
e.zero
6.Aconsumer’sdemandisp=10-q,andaseller’smarginalcostis2.Howmuchistheconsumer’sbuyersurplusatp=4?
a.$6
b.$18
c.$24
d.$32
7.Ifthedemandiselasticatthecurrentprice,asellercanalwaysraisehisprofitsby____.
a.raisinghisprice
b.loweringhisprice
c.raisinghismarginalcost
d.loweringhisdemand
8.Aproduct’smarginalcostofproduction_____.
a.doesnotchangeatall
b.willeventuallydecline
c.willincreasewhenthefixedcostincreases
9.Inacompetitivemarket,aseller’smarginalcostofthelastunitthathesuppliesis________marketprice.
a.greaterthan
b.equalto
c.lessthan
d.alloftheabovearepossible
10.Amonopolistexercisingdirectpricediscriminationshould_________.
a.offeramenuofchoicesandletconsumersself-select
b.worryaboutcannibalization
c.chargeahigherpriceinamarketwithless-elasticdemand
d.chargeahigherpriceinamarketwithmore-elasticdemand
11.Ifamonopolistcanraisehisprofitbyraisinghis(uniform)price,thedemandmustbe_____attheoriginalpricelevel.
a.inelastic
b.elastic
c.unitelastic(i.e.,theelasticityis-1)
d.alltheabovearepossible
12.Demandelasticityis______.
a.unitfree
b.alwayspositive
c.apercentage
d.alloftheabove
13.ToafulltimeMBAstudent,theincomethatheorshecouldhaveearnedwhenworkinginsteadofstudyingisa(n)_____.
a.sunkcost
b.opportunitycost
c.sunkbenefit
d.realbenefit
14.Threestudentsaretryingtobuyusedtextbookswithvaluations$100,50and70,respectively.Amonopolysellercansellbookstothesestudentsortoabookstorefor$30each.Whatistheoptimaluniformpricethatthesellerchargestothesestudents?
a.100
b.70
c.50
d.30
15.Insequentialgames,____.
a.thefirstmoverhasanadvantage
b.thesecondmoverhasanadvantage
c.botharepossible
16.InPrisoners’Dilemma,___.
a.onlyoneplayerhasadominantstrategy
b.bothplayershaveadominantstrategy
c.theoutcomeisalsotheuniqueNashequilibriumofthegame
d.theoutcomeisinferiorforbothplayersthanwhenbothusetheirdominatedstrategies
e.(b),(c)and(d)areallcorrect
17.Asimultaneousgame______.
a.hasonlyoneNashequilibrium
b.canhavemultipleequilibria
18.Inazero-sumgame,____.
a.thetwoplayers’payoffsalwaysadduptozero
b.itispossibletohavewin-win
c.itisimpossibletohavewin-win
d.atleastoneplayer’spayoffis0insomeoutcomes
19.Astrategicmove____.
a.alwaysinvolvespolitics,internationalrelationsormilitaryactions
b.isabigplan
c.isaplanthatguaranteesvictory
d.isanactionthatinfluencesotherplayers’beliefsoractionsthatwillultimatelybenefitthemover
20.Whenaplayerhasadominantstrategy,_____.
a.theoutcomeisalwaysaninferiorone
b.hisopponentmustalsohaveadominantstrategy
c.heshouldconsiderhisopponent’srationality
d.noneoftheaboveiscorrect
PartIIEssayQuestionsandCalculations(41ptsintotal)
Thefirstquestionisanessayquestion.Ihatelengthyanswers.Writingtoomuchtendstolowerratherthanraisingyourmark,asthecorrectanswermaybeburiedinirrelevantandincorrectstatements.Eachquestionrequiresonlyafewsentencestoanswer.Youwillbepenalizedifyouwritemorethanfivelines.
1
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