課程名稱︰個體經濟學一
課程性質︰必修
課程教師︰林明仁
開課系所︰經濟系
考試時間︰2005/1/13
試題 :
第一大題選擇:4% each
1.What do economists mean by the phrase"sunk costs are sunk"?
a.Sunk costs are irretrievable, but they do lower profits and thus affect the firm's output level.
b.Sunk costs are a primary reason why marginal costs tend to increase.
c.Sunk costs cannot be recovered and are irrelevant to future decision making.
d.Sunk costs lower consumer welfare, because producers "pass on" these costs in the form of higher prices.
2.When should a firm increse its production?
a.When it is earning a positive profit.
b.When its revenues are too low to cover the firm's fixed costs.
c.When there is a fall in the price of its product.
d.When its marginal revenue exceeds its marginal cost.
3.The government authorized $10 million to build a new missile system. After $8 million were spent, serious flaws in the system were discovered.At that point, experts testified that the government must authorized another $10 million in funding to make the system operational, bringing the project's total cost to $20 million. The government should authorize the additional funding as long as the benifits from the completed missile system exceed
a.$10 million
b.$12 million
c.$18 million
d.$20 million.
4.Which of the following will result in a firm increasing its level of production?
a.An increase in its Marginal Costs.
b.A decrease in its Marginal Revenue.
c.An increase in its Fixed Costs.
d.An increase in the price of its product.
5.If the average cost curve is downward sloping, then
a.marginal cost is smaller than average cost
b.the marginak cost curve is also downward sloping
c.there are increasing marginal returns to labor
d.wages and other input prices are falling
6.A firm is currently producing 200 units of output using 60 hours of labor and 80 hours if capital. The marginal product of labor is 12 units of output per hour, and the marginal product of capital is 15 units of output per hour. If the wage rate is $6 per hour and the rental rate is $3 per hour,then
a.the firm's use of labor and capital is cost-efficient
b.the firm should use more labor and less capital
c.the firm should use more capital and less labor
d.we cannot determine if the firm's use of inputs is efficient without more information.
7.All points on the firm's expansion path
a.give the firm the maximum possible profit
b.minimize the firm's cost of producing some level of output
c.have the same long-run average cost
d.make the marginal product of labor equal to the marginal product of capital
8.Assume dental care is provided by a competitive industry. A new government regulation requires each dentist to have a newly-developed ultrasound machine for sterilizing dental instruments. What happens to the price of dental care?
a.The price of dental care rises in the short run and rises further in the long run.
b.The regulation will cause higher prices in the short run,but it will have no long-run impact.
c.There is no change in the short run, but dentists will exit and prices will rise in the long run
d.The machine is a sunk cost, so the price of dental care does not chage in either the short run or the long run.
Price Ceiling
The following questions refer to the accompanying diagram which shows the effects of a price ceiling. The initial price and quantity are Po and Qo respectively, and the price ceiling is imposed at the price P1.Assume that none of the potential deadweight loss can be avoided.
Price
|
|\ S
|A\ /
P2 |__\ /
| |\ /
|B |C\ /
P0 |__|__\ /
|D |E /|\
| | /F|G\
P1 |__|/__|__\______
| / | \
|H/| | \
|/ | | D
|__|___|__________________Quantity
Q1 Q0
9.Refer to Price Ceiling. Area B+D represents
a. the deadweight loss due to the price ceiling.
b. the fall in consumer's surplus caused by the imposition fo the price ceiling.
c. the value of the time and resources spent by consumers to acquire the limited supply.
d. the post-ceiling profits earned by the producers of the good.
10.Refer to Price Ceiling. After the price ceiling is imposed, consumer's surplus is equal to
a. area A
b. area A+B
c. area A+B+D
d. area A+B+C+D+E+F+G
11.Refer to Price Ceiling.The price ceiling creats a deadweight loss qual to
a. area A+H
b. area B+C+D+E
c. areaB+D
d. areaC+E
12.Relative to before the price ceiling, how much surplus do producers lose because of the ceiling?
a. area D+E+H
b. area D+E
c. area D+E+F
d. area H
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※ 編輯: ohkawa 來自: 61.62.129.203 (01/22 13:45)
※ 編輯: ohkawa 來自: 61.62.129.203 (01/22 17:45)