微观经济理论测试题库：tb10

1、Chapter 10The Partial Equilibrium Competitive Model129.The market demand curve for any good isa.independent of individuals demand curves for the good.b.the vertical summation of individuals demand curves.*c.the horizontal summation of individuals demand curves.d.derived from the firms marginal cost

2、of production.130.An increase in the price of good x will be accompanied bya.a shift in the market demand curve for good x.b.a shift in the market demand curve for good y (a substitute for good x).c.a movement along the market demand curve for good x.*d.both b and c.131.A change in the distribution

3、of income that leaves total income constant will not shift the market demand curve for a product providinga.everyone has an income elasticity of demand of zero for the product.b. everyone has the same income elasticity of demand for the product.c. individuals have differing income elasticities for t

4、he product, but the average income elasticity for income gainers is equal to the average income elasticity for income losers.*d. any of the above conditions occur.132.In the very short runa.new firms may enter an industry.*b.existing firms may change the quantity they are supplying.c.price and quant

5、ity supplied are absolutely fixed.d.quantity supplied is absolutely fixed.133.The shortrun market supply curve is*a.the horizontal summation of each firms shortrun supply curve.b.the vertical summation of each firms shortrun supply curve.c.the horizontal summation of each firms shortrun average cost

6、 curve.d.the vertical summation of each firms shortrun average cost curve.134.A demand curve will shift out for any of the following reasons excepta.preference for a good increases.*b.price of a substitute falls.c.income rises.d.price of a complement falls.135.If a 1 percent increase in price leads

7、to a .7 percent increase in quantity supplied, the shortrun supply curve isa.elastic.*b.inelastic.c.unit elastic.d.perfectly inelastic.136.If the market for hulahoops is characterized by a very inelastic supply curve and a very elastic demand curve, an inward shift in the supply curve would be refle

8、cted primarily in the form ofa.higher prices.b.higher output.c.lower prices.*d.lower output.137.If the market for bottled spring water is characterized by a very elastic supply curve and a very inelastic demand curve, an outward shift in the supply curve would be reflected primarily in the form ofa.

9、higher prices.b.higher output.*c.lower prices.d.lower output.138.Suppose that the price elasticity of demand for a product is 1 and that the price elasticity of supply is +1. Assume also that the income elasticity of demand is +2. Then an increase in income of 10% will raise equilibrium price by*a.1

10、0%.b.5%.c.20%.d.an annual amount that cannot be determined.139.Under perfect competition, if an industry is characterized by positive economic profits in the short run,a.firms will leave the market in the long run and the short-run supply curve will shift outward.*b.firms will enter the market in th

11、e long run and the short-run supply curve will shift outward.c.firms will enter the market in the long run and the short-run supply curve will shift inward.d.firms will leave the market in the long run and the short-run supply curve will shift inward.140.Firms in longrun equilibrium in a perfectly c

12、ompetitive industry will produce at the low points of their average total cost curves becausea.free entry implies that longrun profits will be zero no matter how much each firm produces.b.firms seek maximum profits and to do so they must choose to produce where average costs are minimized.*c.firms m

13、aximize profits and free entry implies that maximum profits will be zero.d.firms in the industry desire to operate efficiently.141.For an increasing cost industry, the longrun supply curve has a(n) _ elasticity of supply a.infinite.b.negative.*c.positive.d.zero.142.Longrun elasticity of supply is de

14、fined asa.percentage change in quantity demanded in the long run divided by percentage change in price.b.percentage change in price divided by percentage change in quantity demanded in the long run.*c.percentage change in quantity supplied in the long run divided by percentage change in price.d.percentage change in price divided by percentage change in quantity demanded in the long