Tài liệu Câu hỏi đánh giá môn Kinh tế vĩ mô bằng tiếng Anh- Chương 5 pptx

... variability than the range. Chapter 5: Uncertainty and Consumer Behavior 65 3. George has $5, 000 to invest in a mutual fund. The expected return on mutual fund A is 15% and the expected return on ... Chapter 5: Uncertainty and Consumer Behavior 64 CHAPTER 5 UNCERTAINTY AND CONSUMER BEHAVIOR QUESTIONS FOR REVIEW 1. What does ... events, such as when the payoff is the loss o...

Ngày tải lên: 26/01/2014, 00:20

... determined by the interaction of supply and demand. The real price of eggs fell from 1970 to 19 85 because of either a reduction in demand (consumers switched to lower-cholesterol food), a reduction ... education), an increase in the cost of education (e.g., increase in staff salaries), or both. 5. Suppose that the Japanese yen rises against the U.S. dollar- that is, it will take more d...

Ngày tải lên: 20/01/2014, 20:20

... unless all producers decrease production, a minimum price can make producers as a whole worse off. 5. How are production limits used in practice to raise the prices of the following goods or services:

Ngày tải lên: 26/01/2014, 00:20

... It is only the competitive firm that faces a horizontal demand curve who has no market power. 5. What are some of the different types of barriers to entry that give rise to monopoly power? ... conversion of bauxite to alumina. (See U.S. v. Aluminum Company of America, 148 F.2d 416 [19 45] , discussed in Exercise 8, below.) 6. What factors determine the amount of monopoly power an

Ngày tải lên: 26/01/2014, 00:20

... Price elasticity of demand = P Q Δ Q ΔP = 2 8 (−2) =− 4 8 =−0 .5. Cross-price elasticity of demand = P s Q Δ Q ΔP s = 2 8 (1) = 0. 25. 12. Suppose that rather than the declining demand assumed ... are changes in production costs and an increase in the number of firms supplying the product. 5. Explain why for many goods, the long-run price elasticity of supply is larger than the shor...

Ngày tải lên: 20/01/2014, 20:20

... sprite for one can of coke. a. What can you say about Jon’s marginal rate of substitution? 25 Chapter 3: Consumer Behavior 26 Jon’s marginal rate of substitution can be defined as the number ... uses up his entire income with maximize his satisfaction. Chapter 3: Consumer Behavior 27 5. What happens to the marginal rate of substitution as you move along a convex indifference cur...

Ngày tải lên: 20/01/2014, 20:20

... Font: Times New Roman, 12 pt Formatted: Space Before: 1.2 line, After: 1.2 line, Line spacing: 1 .5 lines Formatted: Font: Times New Roman Formatted: Font: Times New Roman, 12 pt Chapter 4: Individual ... would bid exactly the marginal benefit, win the ticket, and still be maximizing satisfaction. 5. Which of the following combinations of goods are complements and which are substitutes? C...

Ngày tải lên: 26/01/2014, 00:20

... Font: Times New Roman, 13 pt Formatted: Space Before: 1.2 line, After: 1.2 line, Line spacing: 1 .5 lines Formatted: Bullets and Numbering Deleted: mi g ht the Deleted: initiall y Deleted: can ... specialization, such t Deleted: hat with more Deleted: worker Deleted: one Chapter 6: Production 75 will be no more gains from specialization. At this point, the marginal product will d...

Ngày tải lên: 26/01/2014, 00:20

... 13 pt Formatted: Space Before: 1.2 line, After: 1.2 line, Line spacing: 1 .5 lines Chapter 7: The Costs of Production 85 a. If the owner of a business pays himself no salary, then the accounting ... also, that MC=w/MPL, so that if MC is diminishing then MPL must be increasing for any given w. 5. Suppose a chair manufacturer finds that the marginal rate of technical substitution of c...

Ngày tải lên: 26/01/2014, 00:20

... Font: Times New Roman, 13 pt Formatted: Space Before: 1.2 line, After: 1.2 line, Line spacing: 1 .5 lines Chapter 8: Profit Maximization and Competitive Supply 103 minimize cost. Thus, the long-run ... The difference between economic profit and producer surplus is the fixed cost of production. 5. Why do firms enter an industry when they know that in the long run economic profit will be...

Ngày tải lên: 26/01/2014, 00:20