5学原理》微观第五版测试题库 14Word文件下载.docx
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5学原理》微观第五版测试题库 14Word文件下载.docx
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2REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Averagerevenue|Marginalrevenue
MSC:
Interpretive
2.Forafirmoperatinginaperfectlycompetitiveindustry,marginalrevenueandaveragerevenueareequal.
TDIF:
3.Ifafirmnoticesthatitsaveragerevenueequalsthecurrentmarketprice,thatfirmmustbeparticipatinginacompetitivemarket.
Averagerevenue
4.Aprofit-maximizingfirminacompetitivemarketwillincreaseproductionwhenaveragerevenueexceedsmarginalcost.
5.Becausetherearemanybuyersandsellersinaperfectlycompetitivemarket,noonesellercaninfluencethemarketprice.
1REF:
Competitivemarkets
Definitional
6.Firmsoperatinginperfectlycompetitivemarketstrytomaximizeprofits.
Profitmaximization
Applicative
7.Incompetitivemarkets,firmsthatraisetheirpricesaretypicallyrewardedwithlargerprofits.
8.Whenanindividualfirminacompetitivemarketincreasesitsproduction,itislikelythatthemarketpricewillfall.
9.Inacompetitivemarket,firmsareunabletodifferentiatetheirproductfromthatofotherproducers.
10.Firmsinacompetitivemarketaresaidtobepricetakersbecausetherearemanysellersinthemarketandthegoodsofferedbythefirmsareverysimilarifnotidentical.
11.Afirm'
sincentivetocomparemarginalrevenueandmarginalcostisanapplicationoftheprinciplethatrationalpeoplethinkatthemargin.
14-2NAT:
12.Bycomparingthemarginalrevenueandmarginalcostfromeachunitproduced,afirminacompetitivemarketcandeterminetheprofit-maximizinglevelofproduction.
13.Firmsoperatinginperfectlycompetitivemarketsproduceanoutputlevelwheremarginalrevenueequalsmarginalcost.
Marginalrevenue
14.Afirmiscurrentlyproducing100unitsofoutputperday.Themanagerreportstotheownerthatproducingthe100thunitcoststhefirm$5.Thefirmcansellthe100thunitfor$4.75.Thefirmshouldcontinuetoproduce100unitsinordertomaximizeitsprofits(orminimizeitslosses).
Analytical
15.Afirmiscurrentlyproducing100unitsofoutputperday.Themanagerreportstotheownerthatproducingthe100thunitcoststhefirm$5.Thefirmcansellthe100thunitfor$5.Thefirmshouldcontinuetoproduce100unitsinordertomaximizeitsprofits(orminimizeitslosses).
16.Afirmiscurrentlyproducing100unitsofoutputperday.Themanagerreportstotheownerthatproducingthe100thunitcoststhefirm$5.Thefirmcanselltheunitfor$6.Thefirmshouldproducemorethan100unitsinordertomaximizeitsprofits(orminimizeitslosses).
17.Adairyfarmermustbeabletocalculatesunkcostsinordertodeterminehowmuchrevenuethefarmreceivesforthetypicalgallonofmilk.
SunkcostsMSC:
18.Becausenothingcanbedoneaboutsunkcosts,theyareirrelevanttodecisionsaboutbusinessstrategy.
19.Aminiaturegolfcourseisagoodexampleofwherefixedcostsbecomerelevanttothedecisionofwhentoopenandwhentoclosefortheseason.
20.Apopularresortrestaurantwillmaximizeprofitsifitchoosestostayopenduringtheless-crowded“offseason”whenitstotalrevenuesexceeditsvariablecosts.
21.Allfirmsmaximizeprofitsbyproducinganoutputlevelwheremarginalrevenueequalsmarginalcost;
forfirmsoperatinginperfectlycompetitiveindustries,maximizingprofitsalsomeansproducinganoutputlevelwherepriceequalsmarginalcost.
22.Afirmoperatinginaperfectlycompetitiveindustrywillcontinuetooperateintheshortrunbutearnlossesifthemarketpriceislessthanthatfirm’saveragetotalcostbutgreaterthanthefirm’saveragevariablecost.
Supplycurve
23.Afirmoperatinginaperfectlycompetitiveindustrywillcontinuetooperateintheshortrunbutearnlossesifthemarketpriceislessthanthatfirm’saveragevariablecost.
24.Afirmoperatinginaperfectlycompetitiveindustrywillshutdownintheshortrunbutearnlossesifthemarketpriceislessthanthatfirm’saveragevariablecost.
25.Intheshortrun,afirmshouldexittheindustryifitsmarginalcostexceedsitsmarginalrevenue.
26.Inmakingashort-runprofit-maximizingproductiondecision,thefirmmustconsiderbothfixedandvariablecost.
27.Afirmwillshutdownintheshortrunifrevenueisnotsufficienttocoveritsvariablecostsofproduction.
ShutdownMSC:
28.Supposeafirmisconsideringproducingzerounitsofoutput.Wecallthisshuttingdownintheshortrunandexitinganindustryinthelongrun.
29.Supposeafirmisconsideringproducingzerounitsofoutput.Wecallthisexitinganindustryintheshortrunandshuttingdowninthelongrun.
30.Afirmwillshutdownintheshortrunifrevenueisnotsufficienttocoverallofitsfixedcostsofproduction.
31.Thesupplycurveofafirminacompetitivemarketistheaveragevariablecostcurveabovetheminimumofmarginalcost.
32.Whenaprofit-maximizingfirminacompetitivemarketexperiencesrisingprices,itwillrespondwithanincreaseinproduction.
33.Themarginalfirminacompetitivemarketwillearnzeroeconomicprofitinthelongrun.
Economicprofit
34.Aprofit-maximizingfirminacompetitivemarketwillearnzeroaccountingprofitsinthelongrun.
Accountingprofit
35.Inthelongrun,whenpriceislessthanaveragetotalcostforallpossiblelevelsofproduction,afirminacompetitivemarketwillchoosetoexit(ornotenter)themarket.
36.Inthelongrun,whenpriceisgreaterthanaveragetotalcost,somefirmsinacompetitivemarketwillchoosetoenterthemarket.
37.Inthelongrun,afirmshouldexittheindustryifitstotalcostsexceeditstotalrevenues.
38.Whenaresourceusedintheproductionofagoodsoldinacompetitivemarketisavailableinonlylimitedquantities,thelong-runsupplycurveislikelytobeupwardsloping.
14-3NAT:
39.Afirmoperatinginaperfectlycompetitiveindustrywillc
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