曼昆经济学题库chapter13.docx
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标准文档
Chapter13
FirmsinCompetitiveMarkets
MULTIPLECHOICE
1.Amarketiscompetitiveif
（i）firmshavetheflexibilitytopricetheirownproduct.
（ii）eachbuyerissmallcomparedtothemarket.
（iii）eachsellerissmallcomparedtothemarket.
a.（i）and（ii）only
b.（i）and（iii）only
c.（ii）and（iii）only
d.Alloftheabovearecorrect.ANSWER:
c. （ii）and（iii）onlyTYPE:
MDIFFICULTY:
2SECTION:
14.1
2.Whenafirmhaslittleabilitytoinfluencemarketpricesitissaidtobeinwhatkindofamarket?
a.acompetitivemarket
b.astrategicmarket
c.athinmarket
d.apowermarket
ANSWER:
a. acompetitivemarketTYPE:
MDIFFICULTY:
1SECTION:
14.1
3.Inacompetitivemarket,theactionsofanysinglebuyerorsellerwill
a.haveanegligibleimpactonthemarketprice.
b.havelittleeffectonoverallproductionbutwillultimatelychangefinalproductprice.
c.causeanoticeablechangeinoverallproductionandachangeinfinalproductprice.
d.adverselyaffecttheprofitabilityofmorethanonefirminthemarket.ANSWER:
a. haveanegligibleimpactonthemarketprice.
TYPE:
MDIFFICULTY:
2SECTION:
14.1
Usetheinformationinthetablebelowtoanswerquestions4through7.
Quantity
Price
1
13
2
13
3
13
4
13
5
13
6
13
7
13
8
13
9
13
4.Thepriceandquantityrelationshipinthetableismostlikelythatfacedbyafirmina
a.monopoly.
b.concentratedmarket.
c.competitivemarket.
d.strategicmarket.
ANSWER:
c. competitivemarket.TYPE:
MDIFFICULTY:
1SECTION:
14.1
实用文案
Chapter14/FirmsinCompetitiveMarketsF4097
5.Overwhichrangeofoutputisaveragerevenueequaltoprice?
a.1to5
b.3to7
c.5to9
d.Averagerevenueisequaltopriceoverthewholerangeofoutput.ANSWER:
d. Averagerevenueisequaltopriceoverthewholerangeofoutput.TYPE:
MDIFFICULTY:
1SECTION:
14.1
6.Overwhatrangeofoutputismarginalrevenuedeclining?
a.1to6
b.3to7
c.7to9
d.None;marginalrevenueisconstantoverthewholerangeofoutput.ANSWER:
d. None;marginalrevenueisconstantoverthewholerangeofoutput.TYPE:
MDIFFICULTY:
2SECTION:
14.1
7.Ifthefirmdoublesitsoutputfrom3to6units,totalrevenuewill
a.increasebylessthan$39.
b.increasebyexactly$39.
c.increasebymorethan$39.
d.Itcannotbedeterminedfromtheinformationprovided.ANSWER:
b. increasebyexactly$39.
TYPE:
MDIFFICULTY:
1SECTION:
14.1
8.Forafirminaperfectlycompetitivemarket,thepriceofthegoodisalways
a.equaltomarginalrevenue.
b.equaltototalrevenue.
c.greaterthanaveragerevenue.
d.Alloftheabovearecorrect.ANSWER:
a. equaltomarginalrevenue.TYPE:
MDIFFICULTY:
1SECTION:
14.1
9.Ifafirminaperfectlycompetitivemarkettriplesthenumberofunitsofoutputsold,thentotalrevenuewill
a.morethantriple.
b.lessthantriple.
c.exactlytriple.
d.Alloftheabovearepotentiallytrue.ANSWER:
c. exactlytriple.
TYPE:
MDIFFICULTY:
1SECTION:
14.1
10.Becausethegoodsofferedforsaleinacompetitivemarketarelargelythesame,
a.therewillbefewsellersinthemarket.
b.therewillbefewbuyersinthemarket.
c.buyerswillhavemarketpower.
d.sellerswillhavelittlereasontochargelessthanthegoingmarketprice.ANSWER:
d. sellerswillhavelittlereasontochargelessthanthegoingmarketprice.TYPE:
MDIFFICULTY:
1SECTION:
14.1
11.WhichofthefollowingisNOTacharacteristicofaperfectlycompetitivemarket?
a.Firmsarepricetakers.
b.Firmshavedifficultyenteringthemarket.
c.Therearemanysellersinthemarket.
d.Goodsofferedforsalearelargelythesame.ANSWER:
b. Firmshavedifficultyenteringthemarket.TYPE:
MDIFFICULTY:
1SECTION:
14.1
12.Whenbuyersinacompetitivemarkettakethesellingpriceasgiven,theyaresaidtobe
a.marketentrants.
b.monopolists.
c.freeriders.
d.pricetakers.
ANSWER:
d. pricetakers.
TYPE:
MDIFFICULTY:
1SECTION:
14.1
13.Whenfirmsaresaidtobepricetakers,itimpliesthatifafirmraisesitsprice,
a.buyerswillgoelsewhere.
b.buyerswillpaythehigherpriceintheshortrun.
c.competitorswillalsoraisetheirprices.
d.firmsintheindustrywillexercisemarketpower.ANSWER:
a. buyerswillgoelsewhere.
TYPE:
MDIFFICULTY:
1SECTION:
14.1
14.Whichofthefollowingstatementsbestreflectsaprice-takingfirm?
a.Ifthefirmweretochargemorethanthegoingprice,itwouldsellnoneofitsgoods.
b.Thefirmhasnoincentivetochargelessthanthegoingprice.
c.Thefirmcansellasmuchasitwantstosellatthegoingprice.
d.Alloftheabovearecorrect.ANSWER:
d. Alloftheabovearecorrect.TYPE:
MDIFFICULTY:
2SECTION:
14.1
15.Inacompetitivemarket,nosingleproducercaninfluencethemarketpricebecause
a.manyothersellersareofferingaproductthatisessentiallyidentical.
b.consumershavemoreinfluenceoverthemarketpricethanproducersdo.
c.governmentinterventionpreventsfirmsfrominfluencingprice.
d.producersagreenottochangetheprice.
ANSWER:
a. manyothersellersareofferingaproductthatisessentiallyidentical.TYPE:
MDIFFICULTY:
2SECTION:
14.1
16.Acompetitivefirmmightchoosetosetitspricebelowthemarketprice,because
a.thiswouldresultinhigheraveragerevenue.
b.thiswouldresultinhigherprofits.
c.thiswouldresultinlowertotalcosts.
d.Noneoftheabovearecorrect.ANSWER:
d. Noneoftheabovearecorrect.TYPE:
MDIFFICULTY:
2SECTION:
14.1
17.Ofthefollowingcharacteristicsofcompetitivemarkets,whicharenecessaryforfirmstobepricetakers?
（i）Therearemanysellers.
（ii）Firmscanfreelyenterorexitthemarket.
（iii）Goodsofferedforsalearelargelythesame.
a.（i）and（ii）only
b.（i）and（iii）only
c.（ii）only
d.Allarenecessary.ANSWER:
b. （i）and（iii）only
TYPE:
MDIFFICULTY:
2SECTION:
14.1
18.Whenafirminacompetitivemarketproduces10unitsofoutput,ithasamarginalrevenueof$8.00.Whatwouldbethefirm’stotalrevenuewhenitproduces6unitsofoutput?
a.$4.80
b.$6.00
c.$48.00
d.$60.00ANSWER:
c. $48.00
TYPE:
MDIFFICULTY:
2SECTION:
14.1
19.Whenafirminacompetitivemarketreceives$500intotalrevenue,ithasamarginalrevenueof$10.Whatistheaveragerevenue,andhowmanyunitsweresold?
a.$5and100
b.$10and50
c.$10and100
d.Theanswercannotbedeterminedfromtheinformationgiven.ANSWER:
b. $10and50
TYPE:
MDIFFICULTY:
2SECTION:
14.1
20.Startingfromasituationinwhichafirminacompetitivemarketproducesandsells500doorknobsforapriceof
$10perdoorknob,whichofthefollowingeventswoulddecreasethefirm’saveragerevenue?
a.Thefirmincreasesitsoutputabove500doorknobs.
b.Thefirmdecreasesitsoutputbelow500doorknobs.
c.Themarketpriceofdoorknobsrisesabove$10.
d.Themarketpriceofdoorknobsfallsbelow$10.ANSWER:
d. Themarketpriceofdoorknobsfallsbelow$10.TYPE:
MDIFFICULTY:
1SECTION:
14.2
21.Wheneveraperfectlycompetitivefirmchoosestochangeitslevelofoutput,holdingthepriceoftheproductconstant,itsmarginalrevenue
a.increasesifMRATC.
b.doesnotchange.
c.increases.
d.decreases.
ANSWER:
b. doesnotchange.TYPE:
MDIFFICULTY:
1SECTION:
14.1
22.Ifafirminacompetitivemarketreducesitsoutputby20percent,thenasaresultthepriceofitsoutputislikelyto
a.increase.
b.remainunchanged.
c.decreasebylessthan20percent.
d.decreasebymorethan20percent.ANSWER:
b. remainunchanged.TYPE:
MDIFFICULTY:
1SECTION:
14.1
23.Changesintheoutputofaperfectlycompetitivefirm,withoutanychangeinthepriceoftheproduct,willchangethefirm’s
a.totalrevenue.
b.marginalrevenue.
c.averagerevenue.
d.Alloftheabovearecorrect.ANSWER:
a. totalrevenue.
TYPE:
MDIFFICULTY:
2SECTION:
14.1
24.Whenaprofit-maximizingfirminacompetitivemarkethaszeroeconomicprofit,accountingprofit
a.isnegative（accountinglosses）.
b.ispositive.
c.isalsozero.
d.couldbepositive,negativeorzero.ANSWER:
b. ispositive.
TYPE:
MDIFFICULTY:
2SECTION:
14.1
25.Asageneralrule,whenaccountantscalculateprofittheyaccountforexplicitcostsbutusuallyignore
a.certainoutlaysofmoneybythefirm.
b.implicitcosts.
c.operatingcosts.
d.fixedcosts.ANSWER:
b. implicitcosts.
TYPE:
MDIFFICULTY:
1SECTION:
14.1
26.Incalculatingaccountingprofit,accountantstypicallydon’tinclude
a.long-runcosts.
b.sunkcosts.
c.explicitcostsofproduction.
d.opportunitycoststhatdonotinvolveanoutflowofmoney.ANSWER:
d. opportunitycoststhatdonotinvolveanoutflowofmoney.TYPE:
MDIFFICULTY:
1SECTION:
14.1
Usethefollowinginformationtoanswerquestions27through29.
AspartofanestatesettlementMaryreceived$1million.ShedecidedtousethemoneytopurchaseasmallbusinessinAnywhere,USA.IfMarywouldhaveinvestedthe$1millioninarisk-freebondfundshecouldhavemade$100,000eachyear.ShealsoquitherjobwithLucky.ComInc.todevoteallofhertimetohernewbusiness;hersalaryatLucky.ComInc.was$75,000peryear.
27.Attheendofthefirstyearofoperatinghernewbusiness,Mary’saccountantreportedanaccountingprofitof
$150,000.WhatwasMary’seconomicprofit?
a.$25,000loss
b.$50,000loss
c.$25,000profit
d.$150,000profitANSWER:
a. $25,000loss
TYPE:
MDIFFICULTY:
2SECTION:
14.1
28.WhatareMary’sopportunitycostsofoperatinghernewbusiness?
a.$25,000
b.$75,000
c.$100,000
d.$175,000ANSWER:
d. $175,000
TYPE:
MDIFFICULTY:
2SECTION:
14.1
29.HowlargewouldMary’saccountingprofitsneedtobetoallowhertoattainzeroeconomicprofi
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