Tài liệu Câu hỏi đánh giá môn Kinh tế vĩ mô bằng tiếng Anh- Chương 7 docx

... Chapter 7: The Costs of Production 84 CHAPTER 7 THE COST OF PRODUCTION QUESTIONS FOR REVIEW 1. A firm pays its accountant ... Formatted: Bullets and Numbering Deleted: (the variable input) Deleted: rising Chapter 7: The Costs of Production 87 MRTS equals the ratio of the rental rate to the wage rate. The MRTS in this case ... make the profit negative, in economic terms. Delet...

Ngày tải lên: 26/01/2014, 00:20

... rise, assuming they are substitutes. The demand curve for subway tickets will shift to the right. 7. Which of the following events would cause a movement along the demand curve for U.S produced ... enough to reduce consumption by a large amount. d. food Chapter 4: Individual and Market Demand 47 Large income effect, no substitution effect: As with housing, the amount of income spen...

Ngày tải lên: 26/01/2014, 00:20

... demand relative to consumers of more “basic” packages. Chapter 11: Pricing with Market Power 164 7. How is peak-load pricing a form of price discrimination? Can it make consumers better off? Give

Ngày tải lên: 26/01/2014, 00:20

... education) are determined by the interaction of supply and demand. The real price of eggs fell from 1 970 to 1985 because of either a reduction in demand (consumers switched to lower-cholesterol food),

Ngày tải lên: 20/01/2014, 20:20

... a two- bedroom apartment had been $70 0 per month, and rents are expected to increase to $900 within a year. The city council limits rents to their current $70 0 per month level. a. Draw a supply ... old equilibrium level of $70 0 per month. The expected increase to $900 per month may have been caused by an increase in demand. Given this is true, the price of $70 0 will be below the new e...

Ngày tải lên: 20/01/2014, 20:20

... that 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 ... satisfaction is achieved. As trades are made, the MRS will change and become equal to the price ratio. 7. Describe the indifference curves associated with two goods that are perfect substitute...

Ngày tải lên: 20/01/2014, 20:20

... individuals, might be risk averse. 7. When is it worth paying to obtain more information to reduce uncertainty? Chapter 5: Uncertainty and Consumer Behavior 67 Individuals are willing to pay

Ngày tải lên: 26/01/2014, 00:20

... number of Chapter 6: Production 77 months or years, but as that period of time where some inputs cannot be changed for reasons such as those given above. 7. Isoquants can be convex, linear, ... 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

... Increasing returns may cease at some level of output, leaving more than one firm in the industry. 7. Industry X is characterized by perfect competition, so every firm in the industry is earning ... there is no shift in the supply curve. Chapter 8: Profit Maximization and Competitive Supply 1 07 13. The government passes a law that allows a substantial subsidy for every acre of land u...

Ngày tải lên: 26/01/2014, 00:20

... Chapter 9: The Analysis of Competitive Markets 1 17 CHAPTER 9 THE ANALYSIS OF COMPETITIVE MARKETS REVIEW QUESTIONS 1. What is meant ... in any deadweight loss, but is merely a redistribution of surplus from one group to the other. 7. Suppose the government wants to limit imports of a certain good. Is it preferable to use an

Ngày tải lên: 26/01/2014, 00:20