中级微观经济学模拟试题7 .pdf

中级微观经济学模拟试题 7 I True or false （2points*10 ）. 1.Since a monopoly charges a price higher than marginal cost, it will produce an inefficient amount of output. 2. A duopoly in which two identical firms are engaged in Bertrand competition will not distort prices from their competitive levels. 3.The change in producers surplus when the market price changes from p1to p2is half of the area to the left of the marginal cost curve between p1and p2. 4.If the production function is f(x1;x2) = min(x1 ,x2); then the cost function is c(w1;w2;y) =min(w1;w2;y ) 5. A monopolist with constant marginal costs faces a demand curve with a constant elasticity of demand and does not practice price discrimination. If the government imposes a tax of $1 per unit of goods sold by the monopolist, the monopolist will increase his price by more than $1 per unit. 6.John purchases two goods, x and y. Good x is an inferior good for some range of income, there must be another range of income for which good x is a normal good. 7.Ambrose’s utility function is U(x,y)=x+4y1/2. The price of x is 1 and the price of y is 2. If his income rises from 100 to 150, his consumption of y increases by more than 10% but less than 50%. 8.Bill Katz prefers more of good 1 to less and he prefers less of good 2 to more. Bill has convex preferences. If we draw his indifference curves with good 1 on the horizontal axis and good 2 on the vertical axis, then his indifference curves have positive slope but get steeper as they rise. 9.In a competitive pure exchange economy, if the total value of excess demand for all types of food is zero, then the total value of excess demand for all nonfood commodities must be zero. 10.In Nash equilibrium, each player is making an optimal choice for herself, given