5学原理》微观第五版测试题库 14.docx
- 文档编号:3427425
- 上传时间:2022-11-23
- 格式:DOCX
- 页数:131
- 大小:129.82KB
5学原理》微观第五版测试题库 14.docx
《5学原理》微观第五版测试题库 14.docx》由会员分享,可在线阅读,更多相关《5学原理》微观第五版测试题库 14.docx(131页珍藏版)》请在冰豆网上搜索。
5学原理》微观第五版测试题库14
Chapter14
FirmsinCompetitiveMarkets
TRUE/FALSE
1.Forafirmoperatinginaperfectlycompetitiveindustry,totalrevenue,marginalrevenue,andaveragerevenueareallequal.
ANS:
FDIF:
2REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Averagerevenue|Marginalrevenue
MSC:
Interpretive
2.Forafirmoperatinginaperfectlycompetitiveindustry,marginalrevenueandaveragerevenueareequal.
ANS:
TDIF:
2REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Averagerevenue|Marginalrevenue
MSC:
Interpretive
3.Ifafirmnoticesthatitsaveragerevenueequalsthecurrentmarketprice,thatfirmmustbeparticipatinginacompetitivemarket.
ANS:
FDIF:
2REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Averagerevenue
MSC:
Interpretive
4.Aprofit-maximizingfirminacompetitivemarketwillincreaseproductionwhenaveragerevenueexceedsmarginalcost.
ANS:
TDIF:
2REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Averagerevenue
MSC:
Interpretive
5.Becausetherearemanybuyersandsellersinaperfectlycompetitivemarket,noonesellercaninfluencethemarketprice.
ANS:
TDIF:
1REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Competitivemarkets
MSC:
Definitional
6.Firmsoperatinginperfectlycompetitivemarketstrytomaximizeprofits.
ANS:
TDIF:
2REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Applicative
7.Incompetitivemarkets,firmsthatraisetheirpricesaretypicallyrewardedwithlargerprofits.
ANS:
FDIF:
2REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Competitivemarkets
MSC:
Interpretive
8.Whenanindividualfirminacompetitivemarketincreasesitsproduction,itislikelythatthemarketpricewillfall.
ANS:
FDIF:
2REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Competitivemarkets
MSC:
Interpretive
9.Inacompetitivemarket,firmsareunabletodifferentiatetheirproductfromthatofotherproducers.
ANS:
TDIF:
1REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Competitivemarkets
MSC:
Interpretive
10.Firmsinacompetitivemarketaresaidtobepricetakersbecausetherearemanysellersinthemarketandthegoodsofferedbythefirmsareverysimilarifnotidentical.
ANS:
TDIF:
2REF:
14-1NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Competitivemarkets
MSC:
Interpretive
11.Afirm'sincentivetocomparemarginalrevenueandmarginalcostisanapplicationoftheprinciplethatrationalpeoplethinkatthemargin.
ANS:
TDIF:
1REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Interpretive
12.Bycomparingthemarginalrevenueandmarginalcostfromeachunitproduced,afirminacompetitivemarketcandeterminetheprofit-maximizinglevelofproduction.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Interpretive
13.Firmsoperatinginperfectlycompetitivemarketsproduceanoutputlevelwheremarginalrevenueequalsmarginalcost.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Marginalrevenue
MSC:
Applicative
14.Afirmiscurrentlyproducing100unitsofoutputperday.Themanagerreportstotheownerthatproducingthe100thunitcoststhefirm$5.Thefirmcansellthe100thunitfor$4.75.Thefirmshouldcontinuetoproduce100unitsinordertomaximizeitsprofits(orminimizeitslosses).
ANS:
FDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Analytical
15.Afirmiscurrentlyproducing100unitsofoutputperday.Themanagerreportstotheownerthatproducingthe100thunitcoststhefirm$5.Thefirmcansellthe100thunitfor$5.Thefirmshouldcontinuetoproduce100unitsinordertomaximizeitsprofits(orminimizeitslosses).
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Analytical
16.Afirmiscurrentlyproducing100unitsofoutputperday.Themanagerreportstotheownerthatproducingthe100thunitcoststhefirm$5.Thefirmcanselltheunitfor$6.Thefirmshouldproducemorethan100unitsinordertomaximizeitsprofits(orminimizeitslosses).
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Analytical
17.Adairyfarmermustbeabletocalculatesunkcostsinordertodeterminehowmuchrevenuethefarmreceivesforthetypicalgallonofmilk.
ANS:
FDIF:
1REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
SunkcostsMSC:
Interpretive
18.Becausenothingcanbedoneaboutsunkcosts,theyareirrelevanttodecisionsaboutbusinessstrategy.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
SunkcostsMSC:
Interpretive
19.Aminiaturegolfcourseisagoodexampleofwherefixedcostsbecomerelevanttothedecisionofwhentoopenandwhentoclosefortheseason.
ANS:
FDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
SunkcostsMSC:
Interpretive
20.Apopularresortrestaurantwillmaximizeprofitsifitchoosestostayopenduringtheless-crowded“offseason”whenitstotalrevenuesexceeditsvariablecosts.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
SunkcostsMSC:
Interpretive
21.Allfirmsmaximizeprofitsbyproducinganoutputlevelwheremarginalrevenueequalsmarginalcost;forfirmsoperatinginperfectlycompetitiveindustries,maximizingprofitsalsomeansproducinganoutputlevelwherepriceequalsmarginalcost.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Interpretive
22.Afirmoperatinginaperfectlycompetitiveindustrywillcontinuetooperateintheshortrunbutearnlossesifthemarketpriceislessthanthatfirm’saveragetotalcostbutgreaterthanthefirm’saveragevariablecost.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Supplycurve
MSC:
Interpretive
23.Afirmoperatinginaperfectlycompetitiveindustrywillcontinuetooperateintheshortrunbutearnlossesifthemarketpriceislessthanthatfirm’saveragevariablecost.
ANS:
FDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Supplycurve
MSC:
Interpretive
24.Afirmoperatinginaperfectlycompetitiveindustrywillshutdownintheshortrunbutearnlossesifthemarketpriceislessthanthatfirm’saveragevariablecost.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Supplycurve
MSC:
Interpretive
25.Intheshortrun,afirmshouldexittheindustryifitsmarginalcostexceedsitsmarginalrevenue.
ANS:
FDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Supplycurve
MSC:
Interpretive
26.Inmakingashort-runprofit-maximizingproductiondecision,thefirmmustconsiderbothfixedandvariablecost.
ANS:
FDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Interpretive
27.Afirmwillshutdownintheshortrunifrevenueisnotsufficienttocoveritsvariablecostsofproduction.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
ShutdownMSC:
Interpretive
28.Supposeafirmisconsideringproducingzerounitsofoutput.Wecallthisshuttingdownintheshortrunandexitinganindustryinthelongrun.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
ShutdownMSC:
Interpretive
29.Supposeafirmisconsideringproducingzerounitsofoutput.Wecallthisexitinganindustryintheshortrunandshuttingdowninthelongrun.
ANS:
FDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
ShutdownMSC:
Interpretive
30.Afirmwillshutdownintheshortrunifrevenueisnotsufficienttocoverallofitsfixedcostsofproduction.
ANS:
FDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
ShutdownMSC:
Interpretive
31.Thesupplycurveofafirminacompetitivemarketistheaveragevariablecostcurveabovetheminimumofmarginalcost.
ANS:
FDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Supplycurve
MSC:
Interpretive
32.Whenaprofit-maximizingfirminacompetitivemarketexperiencesrisingprices,itwillrespondwithanincreaseinproduction.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Interpretive
33.Themarginalfirminacompetitivemarketwillearnzeroeconomicprofitinthelongrun.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Economicprofit
MSC:
Interpretive
34.Aprofit-maximizingfirminacompetitivemarketwillearnzeroaccountingprofitsinthelongrun.
ANS:
FDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Accountingprofit
MSC:
Interpretive
35.Inthelongrun,whenpriceislessthanaveragetotalcostforallpossiblelevelsofproduction,afirminacompetitivemarketwillchoosetoexit(ornotenter)themarket.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Interpretive
36.Inthelongrun,whenpriceisgreaterthanaveragetotalcost,somefirmsinacompetitivemarketwillchoosetoenterthemarket.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Interpretive
37.Inthelongrun,afirmshouldexittheindustryifitstotalcostsexceeditstotalrevenues.
ANS:
TDIF:
2REF:
14-2NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Profitmaximization
MSC:
Interpretive
38.Whenaresourceusedintheproductionofagoodsoldinacompetitivemarketisavailableinonlylimitedquantities,thelong-runsupplycurveislikelytobeupwardsloping.
ANS:
TDIF:
2REF:
14-3NAT:
Analytic
LOC:
PerfectcompetitionTOP:
Supplycurve
MSC:
Interpretive
39.Afirmoperatinginaperfectlycompetitiveindustrywillc
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 5学原理微观第五版测试题库 14 原理 微观 第五 测试 题库