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