《江西财经大学微观经济学试题库》chapter 15Word文档格式.docx

《江西财经大学微观经济学试题库》chapter 15Word文档格式.docx

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B）Noonefirm'

sactionsdirectlyaffecttheactionsoftheotherfirms.

C）Firmsarefreetoenterandexittheindustry.

D）Naturalbarrierscannotpreventtheentryofnewfirms.Answer:

A

3）Whenonlyasmallnumberofproducerscompetewitheachotherisadefiningcharacteristicof

A）inelasticsupply.

B）monopolisticcompetition.

C）efficientcompetition.

D）oligopoly.Answer:

DTopic:

Oligopoly

Skill:

76

Copyright©

2012PearsonEducation,Inc.

4）Inoligopolisticmarkets,

A）therearemanyfirms.

B）therearenobarrierstoentry.

C）thereareonlyafewfirms.

D）allfirmsarepricetakers.Answer:

C

5）Amarketstructureinwhichasmallnumberoffirmscompeteiscalled .

A）amonopoly

B）asmall-numbermarket

C）anoligopoly

D）monopolisticcompetitionAnswer:

6）Thekeyfeatureofanoligopolyisthatthere

A）aremanybuyersandsellers.

B）isoneseller.

C）existsproductdifferentiation.

D）areonlyafewsellers.Answer:

D

7）Inanoligopoly

A）thereareonlyafewfirms.

B）thereisnoproductdifferentiation.

C）thereisfreeentryandexit.

D）firms'

decisionsareunrelatedtoeachother.Answer:

8）Amarketstructureinwhichasmallnumberofproducerscompeteagainsteachotheris

A）monopolisticcompetition.

B）oligopoly.

C）monopoly.

D）perfectcompetition.

Answer:

9）Iffirmsinanindustrydifferentiatedtheirproductsandmadeeconomicprofitsintheshort-run,whatothercharacteristicwouldbeimportanttodetermineifthisisanoligopolyoramonopolisticallycompetitivemarket?

A）Thenumberoffirmsinthemarket.

B）Thenumberofclosesubstitutesforthegoodbeingproduced.

C）Thenumberofbuyersinthemarket.

D）Ifthegoodbeingsoldisanormalorinferiorgood.Answer:

New10theditionAACSB:

10）Thedistinguishingfeaturesofoligopolyare anda intheindustry.

A）barrierstoentry;

largenumberoffirms

B）nobarrierstoentry;

fewfirms

C）barrierstoentry;

D）nobarrierstoentry;

largenumberoffirmsAnswer:

11）Oligopolyis

A）likemonopolybecausetherearebarrierstoentry.

B）likeperfectcompetitionbecauseoligopolyfirmsallsellhomogeneousgoods.

C）likemonopolisticcompetitionbecauseoligopolyfirmsallselldifferentiatedgoods

D）likeperfectcompetitionbecausetherearemanyfirmsintheindustryAnswer:

12）Whichofthefollowingisadistinguishingcharacteristicofoligopoly?

A）Alargenumberoffirmscompete.

D）Naturalorlegalbarrierspreventtheentryofnewfirms.Answer:

13）Whichofthefollowingisadefiningcharacteristicofoligopoly?

A）barrierstoentry

B）sellingahomogeneousgood

C）sellingadifferentiatedgood

D）collusionAnswer:

ATopic:

14）Naturaloligopolyisasituationwhere

A）thelevelofdemandcansupportonlyafewfirms.

B）thereisonlyonefirm.

C）thereareonlytwofirms.

D）therearelegalbarrierstoentry.Answer:

NaturalOligopolySkill:

15）Anaturaloligopolycanform

A）ifthereareeconomiesofscale

B）onlyiffirmsselladifferentiatedgood

C）onlyiffirmssellahomogeneousgood

D）ifthereisonlyonefirmintheindustryAnswer:

16）Inasmalltownthelevelofdemandiscapableofsupportingonlytwogasstations.Thismarketis

A）anaturalduopoly.

B）perfectlycompetitivebecauseahomogeneousgoodisbeingsold.

C）operatingasifitwasamonopoly.

D）anexampleofmonopolisticcompetition.Answer:

17）Onedifferencebetweenoligopolyandmonopolisticcompetitionisthat

A）amonopolisticallycompetitiveindustryhasfewerfirms.

B）inmonopolisticcompetition,theproductsareidentical.

C）monopolisticcompetitionhasbarrierstoentry.

D）fewerfirmscompeteinoligopolythaninmonopolisticcompetition.Answer:

18）Whichofthefollowingisadistinguishingcharacteristicofoligopoly?

B）Eachfirm'

sactionsinfluencetheprofitsofalltheotherfirms.

19）Consideramarketinwhicheachfirmmustpredictthepriceandquantitydecisionsofotherfirms,aswellashowthosepriceandquantitydecisionswillaffectthefirstfirm'

srevenueandprofit.Thismarketisbestdescribedas

A）anoligopoly.

C）amonopoly.

Modified10theditionAACSB:

20）In marketstructure,afirm'

soutputdepends .

A）anoligopoly;

onlyonitsownmarginalrevenueandmarginalcostcurves

B）amonopolisticallycompetitive;

inpartonitscompetitors'

priceandquantitydecisions

C）anoligopoly;

D）amonopolisticallycompetitive;

onlyonitsmarginalrevenuecurveAnswer:

Conceptual

21）Iffirmsinanindustrymakeoutputdecisionsthatarepartiallybasedonthepriceandoutputdecisionsoftheircompetitors,thenthesefirmsarein markethave withtheotherfirmsinthemarket.

interdependence

B）anoligopoly;

nointerdependence

C）anoligopolyormonopolisticallycompetitive;

nointerdependenceAnswer:

22）Ofthefollowingmarketstructures,whichhasthefewestnumberoffirmscompetingagainsteachother?

A）monopolisticcompetition

B）oligopoly

C）perfectcompetition

D）BothanswersAandCarecorrect.Answer:

23）Aduopolyoccurswhen .

A）thereareonlytwoproducersofaparticulargoodcompetinginthesamemarket

B）therearetwoproducersoftwogoodscompetinginanoligopolymarket

C）therearenumerousproducersoftwogoodscompetinginacompetitivemarket

D）theoneproduceroftwogoodssellsthegoodsinamonopolymarketAnswer:

DuopolySkill:

24）Aduopolyisaformof

A）perfectcompetition.

C）oligopoly.

D）monopoly.Answer:

CTopic:

Inthefigure,Disthedemandcurvefortaxiridesinatown,andATCistheaveragetotalcostcurveofataxicompany.

25）Inthescenarioabove,themarketis:

A）Anaturalduopoly

B）Anaturaloligopolywiththreefirms

C）Anaturalmonopoly

D）MonopolisticallycompetitiveAnswer:

Analytical

AnalyticalSkills

26）Inanoligopolymarket,theHerfindahl-HirschmanIndexisusually:

A）Greaterthan1,000

B）Below1,000

C）Between100and1,000

D）Between200and2,000Answer:

27）AnmarketinwhichtheHerfindahl-HirschmanIndex（HHI）is1,250isconsideredtobe

B）monopolis