課程名稱︰經濟學原理(下)
課程性質：必修
課程教師︰官俊榮
開課學院：生農學院
開課系所︰農經系
考試日期（年月日）︰2008.4.7
考試時限（分鐘）：4 hours
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
Part A. Multiple Choices(40 points)
1. You are given the following information with respect to a firm's present
output position marginal product of factor A,4; marginal product of factor
B,2; price of A,$8; price of B,$4. Assume the firm is at its Maximum-profit
output. Then Marginal Revenue must be
A)$0.50
B)$1
C)$2
D)zero
2. Which of the following statement about perfect competition and monopoly
is WRONG?
A)The output of a monopoly tends to be smaller and the price tends to be
higher than under perfect competition.
B)The loss of consumer surplus is totally transferred to producer's wealth
as an economy shifts from perfect competition to monopoly.
C)Unlike firms in perfect competitive markets, monopolist faces a downward-
sloped market demand curve.
D)A monopolist is not likely to produce at a price below average cost in the
long-run.
3. If the price of a monopoly firm is located on the inelastic portion of its
demand curve, to maximize profits it should necessarily:
A)increase output and decrease price.
B)decrease output and increase price.
C)increase output and increase price.
D)not change output or price.
E)do none of the above.
4. If an imperfectly competitive firm is at present producing at a point
where average revenue exceeds marginal cost, which of the following policies
should management adopt in order to maximize profit?
A)Expand output and lower price.
B)Contract output and raise price.
C)Contract output and leave price unchanged.
D)Expand output and leave price unchanged.
E)Not necessarily do any of the above, since it already may be maximizing
its profit.
5. Which of the following statements concerning the monopolist with the cost
and demand curves shown in the figure below is true?
p│d
│
│\ ＼
│ \ ＼
│ \ ＼
│ \ ＼
│ \ ＼
│ \ ＼
│───\────＼────── MC=AVC
│ .\ C d
│────\───────── Q
A B\
MR
A)At output B, the firm is minimizing losses in the short run; in the long
run it should shut down.
B)At output C, P=MC, and the firm is maximizing profits.
C)At output A, the firm is maximizing profits; however, in the long run the
firm should go out of business.
D)At output B, the firm should shut down in the short run.
E)None of the above are true.
6.Suppose the input factor market is perfectly competitive, but the output
market is facing regulation in the form of price ceiling. After the regulator
raises the price ceiling, the input price will
A)be greater than new output price times the marginal product of input.
B)be equal to new output price times the marginal product of input.
C)be less than new output price times the marginal product of input.
D)input demand will shift to the left.
E)None of the above is correct.
7. The demand curve in Sector 1 of the labor market is L1=a-bw. The demand
curve in Sector 2 is L2=c-dw. The supply curve of labor for the entire market
is L=e+fw. In equilibrium. L1+L2=L. Which of the following is false?
A)With no minimum wage, equilibrium wage w=(a+c-e)/(b+d+f)
B)With no minimum wage, equilibrium employment at Sector 2, L2=c-d(a+c-e)/
(b+d+f).
_
C)When we impose the minimum wage(w) in Sector 1 only, equilibrium wage W2=
_
(a+c-e-bw)/(d+f).
_
D)When we impose the minimum wage(w) in Sector 1 only, the labor demand for
_
Sector 2 is that L2=c-d(a+c-e-bw)/(d+f).
_
E)When the minimum wage(w) applies to the entire labor market, the employment
equilibrium is that L=a+c-(b+d)w.
8. The supply of talent such as that of Michael Jordan(kind of special factor)
is
A)inelastic.
B)elastic.
C)perfectly inelastic.
D)perfectly elastic.
E)unitary elastic.
9. The fraction of a resource's income that consists of economic rent is
larger
A)the more elastic is the demand for the resource.
B)the more inelastic is the demand for the resource.
C)the more elastic is the supply of the resource.
D)the more inelastic is the supply of the resource.
10. The real interest rate is 2 percent per year. If, at the same time, the
interest rate on money is 12 percent per year, then:
A)deflation is affecting this economy.
B)the inflation rate is 6 percent per year.
C)the inflation rate is 10 percent per year.
D)the inflation rate is 2 percent per year.
E)the inflation rate is 12 percent per year.
11. If the rate of interest increases from 8 percent to 10 percent, the
holder of a perpetuity which yields $100 a year forever receives a capital:
A)loss of $40.
B)loss of $50.
C)gain of $50.
D)loss of $250.
E)gain of $250.
12. An individual who holds marketable government securities now is likely
to sell them and hold money instead if he believes that:
A)interest rates will fall far below present levels.
B)interest rates will fall below present levels for 3 months and then will
rise above present levels.
C)interest rates will soon rise far above present levels.
D)interest rates will not change from present levels.
E)a substantial price deflation is coming.
13. If you wanted to increase tax revenue most efficiently, you should
advocate taxing:
A)goods with inelastic supply.
B)goods with inelastic demand like necessities.
C)inputs with inelastic derived demand curves.
D)inputs with totally inelastic supply.
E)any of the above.
14. If I used to work 40 hours a week at $6 per hour, and now I work 35 hours
a week at $7 per hour:
A)the income effect and substitution effect cancel each other out.
B)the income effect is greater than the substitution effect for me.
C)the substitution effect is more important to me.
D)neither effect can be said to be more important to me.
E)I have made an error and should be working at least 40 hours a week.
15. A large increase in immigration into a country of limited land and
resources would, in the short run, cause:
A)the marginal product of capital to fall.
B)the quality and the educational level of the labor force to decline.
C)rents and surplus profits to rise.
D)no change in the marginal product of labor.
E)all of the above.
16. My firm uses two inputs, A and B. These inputs are perfect substitutes
and therefore have the same equilibrium market price. Suddenly, the price of
B rises one dollar. What should I do to continue maximizing profits?
A)Use one less unit of B.
B)Use one more unit of A.
C)Use no A and all B.
D)Use no B and all A.
E)Cannot tell from information given.
17. Suppose that a 50% tax were levied on the price of an input with totally
inelastic supply. The price of the good being produced using the input would
always increase by:
A)more than 50%.
B)exactly 50%.
C)less than 50%.
D)some amount depending upon the elasticity of demand.
E)none of the above.
18. Suppose that a firm has the opportunity to employ a new machine that will
increase production by 5 units and will cost $10 to purchase. If each unit of
output can be sold for $5, then the:
A)marginal revenue product of the machine is less than its cost, and the firm
should not take advantage of the opportunity.
B)marginal product of the machine is exactly equal to the price of output,
and the firm should therefore take advantage of the opportunity.
C)marginal revenue product of the machine is equal to $25, so the firm should
take advantage of the opportunity.
D)marginal revenue product of the machine is equal to $5, so the firm should
take advantage of the opportunity.
E)none of the above.
19. If the demand for a product becomes more elastic, then the demand for any
given input involved in the production of that good:
A)becomes less elastic.
B)becomes more elastic as well.
C)continues to be identically equal to 1.
D)becomes more elastic if and only if it were initially less than 1.
E)becomes less elastic if and only if it were initially greater than 1.
20. The derived demand for a factor is more elastic the:
A)more inelastic the demand for the product using the factor.
B)smaller the technical possibilities of substituting another factor for this
factor.
C)more inelastic the supply of jointly used factors.
D)larger the portion of the cost of this factor in the total cost of the
product.
E)greater the tendency of the industry using the factor to hold product price
constant when faced with an increase in factor cost.
Part B. Essay Questions
1. Suppose a monopoly has the following cost data where fixed cost equals $60,
and demand for his output.(30 points)
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◆ From: 140.112.197.217
※ 編輯: calmbelt 來自: 140.112.197.217 (04/16 13:58)
> -------------------------------------------------------------------------- <
作者: calmbelt (雄友之夜5/7@活大!!) 看板: NTU-Exam
標題: [試題] 96下 官俊榮 經濟學原理下 1st期中考 part2
時間: Wed Apr 16 02:49:54 2008
課程名稱︰經濟學原理(下)
課程性質：必修
課程教師︰官俊榮
開課學院：生農學院
開課系所︰農經系
考試日期（年月日）︰2008.4.7
考試時限（分鐘）：4 hours
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
──────────────
Q │ AC │ P
──────────────
1 │ $100 │ $58
──────────────
2 │ 68 │ 57
──────────────
3 │ 56 │ 56
──────────────
4 │ 50 │ 55
──────────────
5 │ 47 │ 54
──────────────
6 │ 46 │ 53
──────────────
7 │ 46 │ 52
──────────────
8 │ 46 1/2 │ 51
──────────────
9 │47 2/3 │ 50
──────────────
10 │ 49 │ 49
──────────────
(1)Determine his optimal output, price and profit.
(2)Suppose the government imposes a unit tax equal to $7. What is the
resulting equilibrium? and how much total tax is paid by the monopoly?
(3)Suppose the government collects a fixed franchise $42. What is the
difference between the new equilibrium and that equilibrium with unit tax $7?
(4)How if the government collects franchise equal to $110?
2. Suppose at the moment the equilibrium interest rate equals 6%.(25 points)
(1)Ceteris paribus, what will happen if people desire to save more as long as
the interest rate is higher than 3%? and what is the difference between
short and long run capital supply?
(2)Will the interest rate definitely continue to decline until 3% in real
world where other things may change?
(3)Why, at equilibrium, interest rate must equal the rate of return in
capital goods market?
3. Comment on the followings:(35 points)
(1)A monopoly maximizes his profit by producing an amount less than a
competitive market. In a sense, he takes advantage of consumer's demand for
his output. Therefore, it appears favorable to him if the consumer is not
responsive to price change, i.e., price elasticity of demand is less than one.
(2)The NBA manager argues that the ticket to the ball game is high because the
payment to MVPs such as M. Jordan has been very high.
(3)The tax on land rent will be borne completely by the landlord and the
market continues to be efficient.
4.試回答下列問題：(25 points)
(1)請分別列舉兩項原因或理論說明「高科技人才與一般勞工」及「護士與高中老師之工資差異」
(2)在勞動市場，勞動需求增加是否必然使總工資所得與就業增加？勞動供給增加呢？
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◆ From: 140.112.197.217
※ 編輯: calmbelt 來自: 140.112.197.217 (04/16 13:59)