经济学原理对应练习-14.doc

Chapter14

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.

ANS:C PTS:1 DIF:1 REF:14-1

TOP:Competitivemarkets MSC:Definitional

2. Whenafirmhaslittleabilitytoinfluencemarketpricesitissaidtobein

a. acompetitivemarket.

b. astrategicmarket.

c. athinmarket.

d. apowermarket.

ANS:A PTS:1 DIF:1 REF:14-1

TOP:Competitivemarkets MSC:Definitional

3. Inacompetitivemarket,theactionsofanysinglebuyerorsellerwill

a. haveanegligibleimpactonthemarketprice.

b. havelittleeffectonoverallproductionbutwillultimatelychangefinalproductprice.

c. causeanoticeablechangeinoverallproductionandachangeinfinalproductprice.

d. adverselyaffecttheprofitabilityofmorethanonefirminthemarket.

ANS:A PTS:1 DIF:2 REF:14-1

TOP:Competitivemarkets MSC:Interpretive

Table14-1

Quantity

Price

1

13

2

13

3

13

4

13

5

13

6

13

7

13

8

13

9

13

4. RefertoTable14-1.Thepriceandquantityrelationshipinthetableismostlikelythatfacedbyafirmina

a. monopoly.

b. concentratedmarket.

c. competitivemarket.

d. strategicmarket.

ANS:C PTS:1 DIF:1 REF:14-1

TOP:Competitivemarkets MSC:Analytical

5. RefertoTable14-1.Overwhichrangeofoutputisaveragerevenueequaltoprice?

a. 1to5

b. 3to7

c. 5to9

d. Averagerevenueisequaltopriceoverthewholerangeofoutput.

ANS:D PTS:1 DIF:1 REF:14-1

TOP:Averagerevenue MSC:Analytical

6. RefertoTable14-1.Overwhatrangeofoutputismarginalrevenuedeclining?

a. 1to6

b. 3to7

c. 7to9

d. None;marginalrevenueisconstantoverthewholerangeofoutput.

ANS:D PTS:1 DIF:2 REF:14-1

TOP:Marginalrevenue MSC:Analytical

7. RefertoTable14-1.Ifthefirmdoubl