微观经济学题库教学内容.docx
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微观经济学题库教学内容.docx
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微观经济学题库教学内容
Microeconomics,10e(Parkin)
Part2Review
HowMarketsWork
1)Gadgets,Inc.canincreaseitstotalrevenuebyraisingthepriceofitsproduct.Fromthisresultwecanconcludethatthe
A)priceincreaseincreasesdemandforthefirm'sproduct.
B)firmsellsaninferiorgood.
C)demandforthefirm'sproductispriceinelastic.
D)demandforthefirm'sproductispriceelastic.
Answer:
C
Topic:
TotalRevenueandElasticity
Skill:
Conceptual
Questionhistory:
Previousedition,PartReview2
AACSB:
ReflectiveThinking
2)Widgets,Inc.canincreaseitstotalrevenuebyloweringthepriceofitsproduct.Fromthisresultwecanconcludethatthe
A)decreaseinpriceincreasesdemandforthefirm'sproduct.
B)firmsellsaninferiorgood.
C)demandforthefirm'sproductispriceinelastic.
D)demandforthefirm'sproductispriceelastic.
Answer:
D
Topic:
TotalRevenueandElasticity
Skill:
Conceptual
Questionhistory:
Previousedition,PartReview2
AACSB:
ReflectiveThinking
3)IfOPECcutsoilproductiontoincreasetheirtotalrevenue,weknowthat
A)thedemandforgasolinewilldecrease.
B)thepriceofgasolinewillfall.
C)thedemandforoilintheglobalmarketisinelastic.
D)OPECfacesahorizontaldemandforoilcurve.
Answer:
C
Topic:
TotalRevenueandElasticity
Skill:
Conceptual
Questionhistory:
Previousedition,PartReview2
AACSB:
ReflectiveThinking
4)IfOPECcutsoilproductiontoincreasetheirtotalrevenue,weknowthatthe
A)demandforgasolinewilldecrease.
B)priceofgasolinewillrise.
C)demandforoilintheglobalmarketiselastic.
D)supplyofgasolinewillincrease.
Answer:
B
Topic:
TotalRevenueandElasticity
Skill:
Conceptual
Questionhistory:
Previousedition,PartReview2
AACSB:
ReflectiveThinking
5)IfOPECcutsoilproductiontoincreasetheirtotalrevenue,weknowthatthe
A)demandforgasolinewilldecrease.
B)priceofgasolinewillfall.
C)demandforoilintheglobalmarketiselastic.
D)supplyofgasolinewilldecrease.
Answer:
D
Topic:
ChangeinSupply
Skill:
Conceptual
Questionhistory:
Previousedition,PartReview2
AACSB:
ReflectiveThinking
6)Thefigureaboveshowsthemarketfordigitalcameras.Ifthepriceoffilmcamerasfalls,theefficientquantityofdigitalcameraswillbe________thousandcamerasandthemarginalcostofadigitalcamerawillbe________.
A)lessthan300;lessthan$300
B)greaterthan300;lessthan$300
C)300;greaterthan$300
D)greaterthan400;greaterthan$310
Answer:
A
Topic:
EfficientQuantity
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
7)Thefigureaboveshowsthemarketfordigitalcameras.Ifconsumers'incomesriseandadigitalcameraisanormalgood,theefficientquantityofdigitalcamerastoproducewillbe________thousandcamerasandthemarginalcostofadigitalcamerawillbe________.
A)lessthan300;lessthan$300
B)greaterthan300;lessthan$300
C)300;greaterthan$300
D)greaterthan300;greaterthan$300
Answer:
D
Topic:
EquilibriumQuantity
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
8)Thefigureaboveshowsthemarketfordigitalcameras.Ifconsumers'incomeriseandadigitalcameraisanormalgood,theefficientquantityofdigitalcameraswillbe________thousandcamerasandtheequilibriumquantitywillbe________thousandcameras.
A)lessthan300;lessthan300
B)greaterthan300;lessthan300
C)300;greaterthan300
D)greaterthan300;greaterthan300
Answer:
D
Topic:
EquilibriumandEfficientQuantity
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
9)Thefigureaboveshowsthemarketfordigitalcameras.Thepriceoffilmcamerasfalls.Inthenewequilibrium,thepriceofadigitalcamerawillbe________andthemarginalbenefitfromthelastdigitalcamerapurchasedwillbe________.
A)lessthan$300;lessthan$300
B)greaterthan$300;lessthan$300
C)$300;greaterthan$300
D)greaterthan$300;greaterthan$300
Answer:
D
Topic:
EquilibriumPriceandMarginalCost
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
10)Thefigureaboveshowsthemarketfordigitalcameras.Iftherearetechnologicaladvancesinmakingdigitalcameras,theefficientquantityofdigitalcameraswillbe________thousandcamerasandtheequilibriumquantitywillbe________thousandcameras.
A)lessthan300;lessthan300
B)greaterthan300;lessthan300
C)300;greaterthan300
D)greaterthan300;greaterthan300
Answer:
D
Topic:
EquilibriumandEfficientQuantity
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
11)Thefigureaboveshowsthemarketfordigitalcameras.Ifnewtechnologylowersthecostofproducingdigitalcameras,theefficientquantityofdigitalcameraswillbe________andcomparedtotheoriginalequilibrium,theconsumersurpluswill________.
A)lessthan300;increase
B)lessthan300;decrease
C)greaterthan300;increase
D)greaterthan300;decrease
Answer:
C
Topic:
EfficientQuantityandConsumerSurplus
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
12)Thefigureaboveshowsthemarketfordigitalcameras.Ifataxondigitalcamerasof$30percameraisimposedonsellersofdigitalcameras,howmanycamerasaresold?
A)150thousand
B)200thousand
C)250thousand
D)300thousand
Answer:
B
Topic:
Tax
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
13)Thefigureaboveshowsthemarketfordigitalcameras.Ifataxondigitalcamerasof$30percameraisimposedonsellersofdigitalcameras,buyerswillpaya________fractionofthetaxthansellerswillpaybecausethedemandis________elasticthanthesupplyis.
A)smaller;more
B)smaller;less
C)greater;more
D)greater;less
Answer:
A
Topic:
TaxIncidence
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
14)Thefigureaboveshowsthemarketfordigitalcameras.Ifataxondigitalcamerasof$30percameraisimposed,theequilibriumquantityofdigitalcamerasis________thousandcamerasandtheefficientquantityofdigitalcamerastoproduceis________thousandcameras.
A)300;200
B)200;300
C)200;200
D)300;300
Answer:
B
Topic:
EquilibriumandEfficientQuantity
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
15)Thefigureaboveshowsthemarketfordigitalcameras.Ifataxondigitalcamerasof$30percameraisimposed,themarginalcostofthelastdigitalcameraproducedis________andthemarginalbenefitthatconsumersreceivefromitis________.
A)$330;$300
B)$310;$280
C)$280;$310
D)$300;$300
Answer:
C
Topic:
MarginalCostandMarginalBenefit
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
16)Thefigureaboveshowsthemarketfordigitalcameras.Ifataxondigitalcamerasof$30percameraisimposed,consumersurpluswill
A)notchange.
B)decreaseby$1,500.
C)increaseby$1,000.
D)decreaseby$2,500.
Answer:
D
Topic:
ConsumerSurplus
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
17)Thefigureaboveshowsthemarketfordigitalcameras.Ifataxondigitalcamerasof$30percameraisimposed,andatthesametimenewtechnologylowersthemarginalcostofproducingadigitalcameraby$30ateachlevelofoutput,theequilibriumquantityofdigitalcamerasis________thousandcamerasandtheefficientquantityofdigitalcamerastoproduceis________thousandcameras.
A)300;400
B)400;300
C)300;200
D)300;300
Answer:
A
Topic:
EquilibriumandEfficientQuantity
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
18)Thefigureaboveshowsthemarketfordigitalcameras.Ifataxondigitalcamerasof$30percameraisimposed,andatthesametimenewtechnologylowersthemarginalcostofproducingadigitalcameraby$30ateachlevelofoutput,themarginalcostofthelastcameraproducedis________andthemarginalbenefitthatconsumersreceivefromitis________.
A)$300;$300
B)$270;$300
C)$290;$320
D)$290;$290
Answer:
B
Topic:
MarginalCostandMarginalBenefit
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
19)ThefigureaboveshowsthedemandforandsupplyofrentalhousinginSteppeville.Ifarentceilingissetat$900,thequantityofapartmentunitsrentedis________,andtheefficientquantityofapartmentunitstorentis________.
A)400;1,000
B)400;800
C)800;800
D)800;1,000
Answer:
C
Topic:
RentCeilingandEfficientQuantity
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
20)ThefigureaboveshowsthedemandforandsupplyofrentalhousinginSteppeville.Ifarentceilingissetat$900,themarginalbenefitfromrentinganapartmentunitis________andthequantityofapartmentssuppliedis________.
A)$900;1,000
B)$900;400
C)$800;400
D)$800;800
Answer:
D
Topic:
RentCeilingandMarginalBenefit
Skill:
Analytical
Questionhistory:
Previousedition,PartReview2
AACSB:
AnalyticalSkills
21)ThefigureaboveshowsthedemandforandsupplyofrentalhousinginSteppeville.Ifarentceilingissetat$700,thequantityofapartmentunitsrentedis________,andtheefficientquantityofapartmentunitstorentis________.
A)1,200;600
B)600;600
C)600;800
D)800;800
Answer:
C
Topic:
RentCeilingandEffic
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