州州立《微觀經(jīng)濟學(xué)》題庫第六版Ch09(1)

1、TEST BANKSIXTH EDITIONCHAPTER 9THE ANALYSIS OF COMPETITIVE MARKETSCHAPTER 9The Analysis of Competitive MarketsMULTIPLE CHOICESection 9.1easy1. Refer to Figure 9.1. If the market is in equilibrium, the consumer surplus earned by the buyer ofthe 1st unit isa. S5.00b. SI 5.00c. S22.50d. S40.00easy2. Re

2、fer to Figure 9.If the market is in equilibrium, the producer surplus earned by the seller ofthe 1st unit isa. S5.00b. SI 0.00c. SI 5.00d. S20.00e. S40.00moderate 3. Refer to Figure 9.IF the market is in equilibrium, total consumer surplus isa. $30.b. S70.c. S400.d. S800.e. SI 200.moderate 4. Refer

3、to Figure 9.If the market is in equilibrium, total producer surplus isa. $30.b. S70.c. S400.d. S800.e. SI 200.easyeasymoderatemoderateeasyeasy5. Refer to Figure 9.IF the market is in equilibrium, total consumer and producer surplus isa. SO.b. Si 00.c. S800.d. $1200.e. S2000.6. Refer to Figure 9.IF t

4、he government establishes a price ceiling of S20, how many widgets will be sold?a. 20b. 30c. 40d. 50e. 607. Refer to Figure 9.1. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of S20. consumer surplus willa. fall by S200.b. fall by S300.c. remain the sa

5、me.d. rise by S200.e. rise by S300.8. Refer to Figure 9.Suppose the market is currently in equilibrium. If the government establishes a price ceiling ofS20. producer surplus willa. fall by S200.h.fall by $300.c. remain the same.d. rise by S200.e. rise by S300.9. Refer to Figure 9.If the government e

6、stablishes a price ceiling of S20, the resulting deadweight loss will bea. SO.b. S20.c. S30.d. S300.e. S600.10. Refer to Figure 9.If the government establishes a price ceiling of S20, total consumer and producer surplus will bea. $30.b. S400.c. S600.d. S900.e. SI200.323easy11. Consumer surplus measu

7、resa. the extra amount that a consumer must pay to obtain a marginal unit of a good or service.b. the excess demand that consumers have when a price ceiling holds prices below their equilibrium.c. the benefit that consumers receive from a good or service beyond what they pay.d. gain or loss to consu

8、mers from price fixing.easy12. When government intervenes in a competitive market by imposing an effective price ceiling, we would expect the quantity supplied toand the quantity demanded toa. fall;riseb. fall;fallc. rise;rised. rise;falleasy13. Producer surplus is measured as thea. area under the d

9、emand curve above market price.b. entire area under the supply curve.c. area under the demand curve above the supply curve.d. area above the supply curve up to the market price.easy14. In an unregulated, competitive market consumer surplus exists because somesellers are willing to take a lower price

10、 than the equilibrium price. consumers are willing to pay more than the equilibrium price.sellers will only sell at prices above equilibrium price (or actual price), consumers are willing to make purchases only if the price is below the actual price.easy15. In an unregulated, competitive market prod

11、ucer surplus exists because somea. consumers are willing to pay more than the equilibrium price.b. producers are willing to take more than the equilibrium price.c. producers are willing to sell at less than the equilibrium price.d. consumers are willing to purchase, but only at prices below equilibr

12、ium price.easy16. Deadweight loss refers toa. losses in consumer surplus associated with excess government regulations.b. situations where market prices fail to capture all of the costs and benefits of a policy.c. net losses in total surplus.d. losses due to the policies of labor unions.easy17. In 1

13、970s the federal government imposed price controls on natural gas. Which of the following statements is true?a. These price controls caused a chronic excess supply of natural gas.h.Consumers gained from the price controls, because consumer surplus was larger than itwould have been under free market

14、equilibrium.c. Producers gained from the price controls because producer surplus was larger than it would have been under free market equilibrium.d. This episode of price controls was unusual, because it resulted in no deadweight loss to society.moderate 18. An effective price ceiling causes a loss

15、ofa. producer surplus for certain and possibly consumer surplus as well.b. consumer surplus only.c. producer surplus only.d. consumer surplus for certain and possibly producer surplus as well.e. neither producer nor consumer surplus.moderate19. Price ceilings can result in a net loss in consumer sur

16、plus when thecurve isa. demand; very elasticb. demand; very inelasticc. supply; very inelasticd. none of the above; price ceilings always increase consumer surplus.moderate 20. Producer surplus for the whole market can be thought of asa. total profit.b. variable operating profit plus factor rents.c.

17、 total profit minus factor rents earned by lower cost firms.d. total profit plus factor rents earned by lower cost firms.Q1 Q*Figure 9.2easy21. Refer to Figure 9.2. At price 0E and quantity Q*. consumer surplus is the areaa.OFCQ*.b.AFC.c.EFC.AEC.e.none of the above.Outputmoderate22. Refer to Figure

18、9.2. At price OE and quantity Q*. producer surplus is the areaa.b.c.d.e.OACQ*.OECQ*.OFCQ*.EFC. none of the above.moderate23. Refer to Figure 9.2. At price OE and quantity Q*. the deadweight loss isa.OACQ*.b.OECQ*.c.OFCQ*.d.EFC.e.none of the above.moderate24. Refer to Figure 9.2. At price OH and quan

19、tity QI, consumer surplus is the areaa.EDGF.b.OFGQI.c.HFGB.d.EFC.e.none of the above.moderate25. Refer to Figure 9.2. At price OH and quantity QI, producer surplus is the areaa. 0ABQ1.b. OEDQi-c. AHB.d. OFGQI.e. none of the above.moderate26. Refer to Figure 9.2. At price OH and quantity QI, the dead

20、weight loss isa. DGC.b. BDC.c. BGC.d. OFGQI.e. none of the above.$ 1.50 -$ 1.00 -$ 0.50 -$ 4.00 -$ 3.50 -0 5 0 5 0 .0.7.5.2Q a Z 2 22. $ $ $ $ $Figure 9.3easy27.Refer to Figure 9.3. If the market is in equilibrium, the consumer surplus earned by the buyer of the 100th unit isa.S0.50.h.SO. 75.c.SI.50

21、.d.S2.00.e.S2.75.easy28.Refer to Figure 9.3. If the market is in equilibrium, the producer surplus earned by the seller of the 100th unit isa.S0.50.b.SO.75.c.SI. 50.d.S2.00.e.S2.75.moderate29.Refer to Figure 9.3. If the market is in equilibrium, total consumer surplus isa.SI.b.S3.c.S200.d.S400.e.S60

22、0.moderate30.Refer to Figure 9.3. If the market is in equilibrium, total producer surplus isa.S2.b.S3.c.S200.d.S400.e.S600.easy.Refer to Figure 9.3. If the market is in equilibrium, total consumer and producer surplus isa. SO.b. S4.c. S5.d. S600.easye. S800.:.Refer to Figure 9.3. If the government e

23、stablishes a price ceiling of S1.00, how many pounds of berries will be sold?a. 200b. 300c. 400d. 600e. 800moderateRefer to Figure 9.3. If the government establishes a price ceiling of S1.00, consumer surplus willa. fall by S50.b. fall by SI50.c. remain the same.d. rise by S50.e. rise by S150.modera

24、te. Refer to Figure 9.3. If the government establishes a price ceiling of S1.00, producer surplus willa. fall by SI50.b. fall by $300.c. remain the same.d. rise by SI 50.easye. rise by $300.；.Refer to Figure 9.3. If the government establishes a price ceiling of S1.00, the resulting deadweight loss w

25、ill bea. Si.50.b. S200.c. S150.d. S300.easye. S600.l Refer to Figure 9.3. If the government establishes a price ceiling of S1.00, total consumer and producer surplus will bea. SI.50.b. S300.c. $450.d. S500.e. S600.difficultdifficultdifficultdifficultdifficult37. Price ceilingsa. cause quantity to be

26、 higher than in the market equilibrium.b. always increase consumer surplus.c. may decrease consumer surplus if demand is sufficiently elastic.d. may decrease consumer surplus if demand is sufficiently inelastic.e. always decrease consumer surplus.38. Consider the following statements when answering

27、this questionI. When a competitive industrys supply curve is perfectly elastic, then the sole beneficiaries of a reduction in input prices are consumers.II. Even in competitive markets firms have no incentives to control costs, as they can always pass on cost increases to consumers.a. I and II are t

28、rue.b. / is true, and II is false.c. 1 is false, and II is true.d. 1 and II are false.39. Consider the following statements when answering this questionI. Employers are always hurt by minimum wage laws.II. Workers always benefit from minimum wage laws.a. I and II are true.b. / is true, and II is fal

29、se.c. I is false, and II is true.d. 1 and II are false.40. Consider the following statements when answering this questionI. Overall, the sick will always gain from a price ceiling on prescription drugs.II. The reduction of supply caused by the imposition of a price ceiling is greater the more inelas

30、ticthe market supply curve.a. 1 and II are true.b. 1 is true, and II is false.c. 1 is false, and II is true.d. 1 and II are false.41. The consumers gain from the imposition of a price ceiling is higher whena. the own price elasticity of market demand is high and the price elasticity of market supply

31、 is high.b. the own price elasticity of market demand is high and the price elasticity of market supply is low.c. the own price elasticity of market demand is low and the price elasticity of market supply is high.d. the own price elasticity of market demand is low and the price elasticity of market

32、supply is low.Section 9.2easy42. Governments may successfully inten ene in competitive markets in order to achieve economicefficiencyat no time; competitive markets are always efficient without government mterxention. to increase the incidence of positive externalities.in cases of positive externali

33、ties only.in cases of negative externalities only.in cases of both positive and negative externalities.easy43. Government mten ention can increase total welfare whena. there are costs or benefits that are external to the market.b. consumers do not have perfect information about product quality.c. a

34、high price makes the product unaffordable for most consumers.d. all of the above.e. (a) and (b) only.moderate 44. Which of the following policies could lead to a deadweight loss?a. price ceilings.b. price floors.c. policies prohibiting human cloning.d. all of the above.e. (a) and (b) only.difficult

35、45. Having seen the quantity of drugs supplied by pharmaceutical companies in a competitive market a government decides to force companies to sell exactly the same quantity of drugs at prevailing market prices. The government then forbids additional drug sales and allows doctors to prescribe the dru

36、gs at no cost to patients in need. This government scheme isa. efficient as the quantity of drugs traded is the same as under a free market.b. efficient as the price of drugs paid by the government is the same as under a free market.c. efficient as consumer suiplus is maximized.d. likely to be ineff

37、icient as doctors are unlikely to prescribe drugs to the consumers who are willing to pay the most for the drugs.e. likely to be inefficient as drug producers have a captive buyer.difficult 46. For national security reasons a government decides that ail of its base metal industry should not be locat

38、ed in the same geographical region, as it presently is. The government decides to allocate production quotas to firms in different parts of the country, but does not restrict in any way the transactions between consumers and base metal producers. This scheme isa. efficient as consumers still buy fro

39、m whoever they like.b. efficient as those consumers who value base metals the most can purchase them.c. likely to be inefficient as some of the industrys output is not produced by the firms with the lowest cost.d. likely to be inefficient as the scheme will require subsidies to work.e. efficient as

40、learning by doing effects will be strongest in the firms set up in new geographical regions.moderate 47. Consider the fol lowing statements when answenng this questionI. Waiting lists for kidney transplants have been caused by a 1984 congressional law forbiddinghumans to sell their kidneys.II. Rando

41、mly choosing citizens to serve on juries is an efficient mechanism for selecting jurors.1 and II are true./ is true, and II is false.I is false, and II is true.I and II are false.Section 9.3easya.b.cd.e.R3040506048. Suppose the market in Figure 9.4 is currently in equilibrium. If the government esta

42、blishes a price floor of S50. how many widgets will be sold?moderate49. Suppose the market in Figure 9.4 is currently m equilibnum. If the government establishes a pnce floor of S40. consumer surplus willfall by $50. fall by $350. remain the same.rise by $50. rise by S350.moderate 50. Refer to Figur

43、e 9.4. If the government establishes a price floor of S40 and government purchases the surplus over quantity demanded, producer surplus willa. fall by S275.b. fall by S500.c. remain the same.d. rise by S275.e. rise by S500.easy51. Refer to Figure 9.4. If the government establishes a price floor of $

44、40 and government purchasesthe surplus over quantity demanded, the resulting deadweight loss will bea. S15.b. 10 widgets.c. SI,05(kd. S 1,200.$ 3,50 -$1.50 -$1.00 -$ 0.50 -100 200 300 400 500 600 700 800 900Figure 9.500755025003.2 2 z 2 $ $ $ $ $easye. S2,400.easy52. Refer to Figure 9.4. If the gove

45、rnment establishes a price floor of S40 and purchases the surplus,totalconsumer and producer surplus will bea.S15.b.30 widgets.c.S 1.050.d.S 1.200.e.SI,350$4.00 -53. Refer to Figure 9.5. If the government establishes a price floor of S2.50, how many pounds of berries will be sold?a. 200b. 300c. 400d

46、. 600e. 800moderate 54. Refer to Figure 9.5. If the government establishes a price floor of S2.5O, consumer surplus willa. fall by S50.b. fall by Si50.c. remain the same.d. rise by S50.e. rise by SI 50.moderate 55. Refer to Figure 9.5. If the government establishes a price floor of S2.50 and farmers

47、 grow only the amount of berries that will be sold, producer surplus willa. fall by S50.b. fall by SI00.c. remain the same.d. rise by S50.e. rise by SI00.easy56. Refer to Figure 9.5. If the government establishes a price floor of S2.50 and farmers grow onlythe amount of berries that will be sold, th

48、e resulting deadweight loss will bea. S1.50.b. 200 pounds of berries.c. S150.d. S250.easye. S300.57. Refer to Figure 9.5. If the government establishes a price floor of S2.50 and farmers grow only the amount of berries that will be sold, total consumer and producer surplus will bemg 燦 g mS1S3SS5S a.

49、b.Gd.e.moderate58. Which of the following is NOT true about price floors?a. Consumer surplus is always lower than it would be in the competitive equilibrium.b. Producer surplus could be lower, higher, or the same as it would be in competitive equilibrium.c. Producer surplus could be negative as the

50、result of a price floor.d. Producers will often respond to a price floor by cutting production to the point at which price equals marginal cost.e. The total producer surplus depends on how producers respond to the price floor in determining their output level.difficult 59. Eliminating price supports

51、 for all US agricultural producers will hurt the farmers who cultivate products that havea. ahigh own price elasticity of demand and ahigh price elasticity of market supply.b. ahigh own price elasticity of demand and alow price elasticity of market supply.c. alow own price elasticity of demand and a

52、 high price elasticity of market supply.d. alow own price elasticity of demand and alow price elasticity of market supply.Section 9.4easy60. What is the difference between a price support and a price floor?a. A price support is below equilibrium; a price floor is above itb. A price support is above

53、equilibrium; a price floor is below it.c. Government buys the excess supply to maintain a price floor, butnot a price support.d. Government buys the excess supply to maintain a price support,but not for a price floor.e. There is no difference between the two.easy61. A price support may be pictured b

54、ya. shifting the demand curve to the right by the amount of the government purchase.b. shifting the demand curve to the left by the amount of the government purchase.c. shifting the supply curve to the right by the amount of the government purchase.d. shining the supply curve to the left by the amou

55、nt of the government purchase.e. Drawing a horizontal line below equilibrium price at the supported price.easy62. Which of the following is unlikely to occur as a result of a price support program?a. A reduction in consumer surplus.b. A reduction in producer surplus.c. An increase in quantity purchased.d. An economic cost to government.e. Improved economic efficiency.easy63. A countrys government would like to raise the price of one its most important agricultural crops,coffee beans. Which of the following government programs will result in higher prices fo