………………… … … … … … … … … … … … …名…姓… … … … … … … … … … … 号…学线 订 装 … … … … … … … … …级…班…业…专… … … … … … … … … … … … … … …浙江科技学院
2012 - 2013 学年第 二 学期考试试卷 A 卷
考试科目 微观经济学 考试方式 闭卷 完成时限 2小时 拟题人程芳芳 审核人 批准人 2013年 7月 1 日 经济与管理学 院 12 年级 经济学、国际经济与贸易 专业 题序 I II III IV 总分 加分人 复核人 得分 签名 命题： 得分 I. True or False (20 points, 1 point each) No. 1 2 3 4 5 6 7 8 9 10 Answer No. 11 12 13 14 15 16 17 18 19 20 Answer 1. A marginal change is a small incremental adjustment to an existing plan of action. 2. An economy is being efficient if it is impossible to produce more of one good
without producing less of another. 3. When an increase in the price of one good lowers the demand for another good, the
two goods are called complements. 4. A market is a group of buyers and sellers of a particular product.
5. The price elasticity of demand is defined as the percentage change in quantity
demanded divided by the percentage change in price. 6. Cross-price elasticity of demand measures how the quantity demanded of one good
changes as the price of another good changes. 7. Who bears the majority of a tax burden when a product is taxed depends on whether
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the tax is placed on the buyers or the sellers.
8. The equilibrium of supply and demand in a market maximizes the total benefits to
buyers and sellers of participating in that market. 9. Unless markets are perfectly competitive, they mail fail to maximize the total
benefits to buyers and sellers. 10. The Laffer curve is the curve showing how tax revenue varies as the size of the tax
varies. 11. When a transaction between a buyer and seller directly affects a third party, the
effect is called an externality. 12. According to the Coase theorem, the private market will need government
intervention in order to reach an efficient outcome. 13. One possible solution to the problem of protecting a common resource is to
convert that resource to a private good. 14. Although economists and accountants treat many costs differently, they both treat
the cost of capital the same. 15. In competitive markets, firms that raise their prices are typically rewarded with
larger profits. 16. A firm in a competitive market will maximize profit when the level of production
is such that marginal cost equals price. 17. Movie theatres charge different prices to different groups of people based on the
differing marginal costs that exist from group to group. 18. In the case of oligopoly markets, self-interest prevents cooperation and leads to an
inferior outcome for the firms that are involved. 19. Total profit for all firms in an oligopolistic market is greater than that of a
monopolist, assuming no price-fixing occurs in the market. 20. When a firm operates with excess capacity, it must be in a monopolistically
competitive market.
得分
II. Multiple Choices (30 points, 2 points each) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 No. Answer 第 2 页 共 11 页
浙江科技学院考试试卷
1. Economists use the phrase \"There is no such thing as a free lunch,\" to illustrate the
principle that
a. inflation almost always results in higher prices over time. b. nothing is free in a market economy.
c. making decisions requires trading off one goal against another.
d. if something looks too good to be true, it probably is not worth pursuing. 2. Production is efficient if the economy is producing at a point
a. on the production possibilities frontier. b. outside the production possibilities frontier. c. on or inside the production possibilities frontier. d. inside the production possibilities frontier.
3. You lose your job and as a result you buy fewer romance novels. This shows that
you consider romance novels to be a(n) a. luxury good. b. inferior good. c. normal good.
d. complementary good. 4. It is likely that
a. the demand for flat-screen computer monitors is more elastic than the demand for monitors in general.
b. the demand for grandfather clocks is more elastic than the demand for wristwatches.
c. the demand for cardboard is more elastic over a long period of time than over a short period of time.
d. All of the above are correct. 5. Which of the following is not a determinant of the price elasticity of demand for a
good?
a. the time horizon
b. the steepness or flatness of the supply curve for the good c. the definition of the market for the good d. the availability of substitutes for the good 6. A price ceiling is binding when it is set
a. above the equilibrium price, causing a shortage. b. above the equilibrium price, causing a surplus. c. below the equilibrium price, causing a shortage. d. below the equilibrium price, causing a surplus.
7. Sellers of a product will bear the larger part of the tax burden, and buyers will bear a
smaller part of the tax burden, when
a. the tax is placed on the sellers of the product.
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b. the tax is placed on the buyers of the product.
c. the supply of the product is more elastic than the demand for the product. d. the demand for the product is more elastic than the supply of the product. 8. The amount of deadweight loss from a tax depends upon
a. the price elasticity of demand. b. the price elasticity of supply. c. the amount of the tax per unit. d. All of the above are correct.
9. An externality exists whenever
a. the economy can benefit from government intervention. b. markets are not able to reach equilibrium. c. a firm sells its product in a foreign market.
d. a person engages in an activity that influences the well-being of a bystander and yet neither pays nor receives payment for that effect. 10. Which of the following goods is not rival and not excludable?
a. an uncongested toll road b. an uncongested nontoll road c. a congested nontoll road d. a congested toll road
11. Which of the following is an implicit cost?
(i) the owner of a firm forgoing an opportunity to earn a large salary working for a Wall Street brokerage firm (ii) interest paid on the firm's debt (iii) rent paid by the firm to lease office space a. (ii) and (iii) b. (i) and (iii) c. (i) only d. (iii) only 12. When firms are said to be price takers, it implies that if a firm raises its price,
a. buyers will go elsewhere.
b. buyers will pay the higher price in the short run. c. competitors will also raise their prices.
d. firms in the industry will exercise market power. 13. Which of the following statements is (are) true of a monopoly?
(i) A monopoly has the ability to set the price of its product at whatever level it desires.
(ii) A monopoly's total revenue will always increase when it increases the price of its product. (iii) A monopoly can earn unlimited profits.
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a. b. c. d. (i) only (ii) only (i) and (ii) (ii) and (iii)
14. When an industry has many firms, the industry is
a. an oligopoly if the firms sell differentiated products, but it is monopolistically competitive if the firms sell identical products.
b. an oligopoly if the firms sell differentiated products, but it is perfectly competitive if the firms sell identical products.
c. monopolistically competitive if the firms sell differentiated products, but it is perfectly competitive if the firms sell identical products.
d. perfectly competitive if the firms sell differentiated products, but it is monopolistically competitive if the firms sell identical products. 15. Excess capacity
a. tells economists little about the desirability of a market outcome.
b. is the primary source of market inefficiency in monopolistically competitive markets.
c. is a characteristic of rising average total cost curves.
d. implies that the quantity demanded exceeds the quantity produced.
得分
III. Short Answers (20 points)
1. (6 points)What is the difference between a “change in supply” and a “change in
quantity supplied”? Graph your answer.
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2. (5 points) Think about the goods and services provided by your government, point out which category each of the following goods falls into: a. interstate highways b. university education c. national defense d. state parks
e. free vaccinations at public health departments
3. (5 points) Define average total cost and marginal cost. How are they related?
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4. （4 points）What are the four ways that government policymakers can respond to the
problem of monopoly?
得分
IV. Applications (30 points)
1. (6 points) Using the midpoint method, compute the elasticity of demand between points A and B. Is this portion of the curve elastic or inelastic? Interpret your answer with regard to price and quantity demanded. Now compute the elasticity of demand between points B and C. Is this portion of the curve elastic or inelastic?
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2. （6 points）On the graph below, Q represents the quantity of the good and P represents the good's price.
（1） At the equilibrium, consumer surplus is measured by the area
a. ACG. b. AFG. c. DBG. d. CFG. （2）At the equilibrium, producer surplus is measured by the area
a. ACG. b. AFG.
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c. DBG. d. CFG.
（3）At the equilibrium, consumer surplus amounts to
a. $24. b. $36. c. $48. d. $72. （4）At the equilibrium, total surplus amounts to
a. $64. b. $72. c. $96. d. $108.
（5）The equilibrium allocation of resources is
a. efficient because total surplus is maximized at the equilibrium.
b. efficient because consumer surplus is maximized at the equilibrium.
c. inefficient because consumer surplus is larger than producer surplus at the equilibrium.
d. inefficient because total surplus is maximized when 10 units of output are produced and sold. （6）If four units of the good are produced and sold, then
a. the cost to sellers exceeds the value to buyers. b. producer surplus is maximized. c. total surplus is minimized.
d. the allocation of resources is inefficient.
3. （8 points）Refer to the diagram below to answer Questions.
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(1) To maximize total surplus, a benevolent social planner would choose which
output and price?
(2) To maximize its profit, a monopolist would choose which output and price?
(3) How much is the monopolist’s maximum profit? (This question is challenging)
(4) How much is the deadweight loss caused by a profit-maximizing monopoly
amount?
4．(10 points)You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation:
If both of you work hard, you both get an A, which gives each of you 40 units of happiness.
If only one of you works hard, you both get a B, which gives each of you 30 units of happiness.
If neither of you works hard, you both get a D, which gives each of you 10 units of happiness.
Working hard costs 25 units of happiness.
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(1) Calculate the payoffs of each outcome and draw a decision box. (2) What is the likely outcome? Explain your answer.
(3) Another one of your classmate cares more about good grades: he gets 50 units of
happiness for a B and 80 units of happiness from an A. If this other classmate were your partner (but your preferences were unchanged), what is the likely outcome now? Which of the two classmates would you prefer as a partner? Would he also want you as a partner?
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