Tài liệu Câu hỏi đánh giá môn Kinh tế vĩ mô bằng tiếng Anh- Chương 8 doc

... Chapter 8: Profit Maximization and Competitive Supply 102 CHAPTER 8 PROFIT MAXIMIZATION AND COMPETITIVE SUPPLY REVIEW QUESTIONS 1. ... will leave to bring profit back up to zero. Deleted: Page Break Chapter 8: Profit Maximization and Competitive Supply 105 8. An increase in the demand for video films also increases the salaries ... the foregone wages from running the business are...

Ngày tải lên: 26/01/2014, 00:20

... equilibrium price will fall and quantity will increase. There is a movement along the demand curve. 8. For which of the following goods is a price increase likely to lead to a substantial income (as ... cannot substitute out of food in general. 9. Suppose that the average household in a state consumes 80 0 gallons of gasoline per year. A 20-cent gasoline tax is introduced, coupled with...

Ngày tải lên: 26/01/2014, 00:20

... which case one input cannot be substituted for the other. 8. Can an isoquant ever slope upwards? Explain. Chapter 6: Production 78 No. This would mean that if you increased both inputs then

Ngày tải lên: 26/01/2014, 00:20

... average variable cost is increasing or decreasing? Explain. Chapter 7: The Costs of Production 88 If the average variable cost is increasing (decreasing), then the last unit produced is adding ... 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 cost is zero, but ....

Ngày tải lên: 26/01/2014, 00:20

... only one eye doctor. Are senior citizens more likely to be offered discount prices for dental exams or for eye exams? Why. The dental market is competitive, whereas the eye doctor is a local ... more elastic demand wait until the period when the charge is closest to their reservation price. 8. How can a firm determine an optimal two-part tariff if it has two customers with different de...

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 1 985 because of either a reduction in demand (consumers switched to lower-cholesterol food), a reduction ... telephone service fell from 40 cents per minute in 1996 to 22 cents per minute in 1999, a 45-percent ( 18 cents/40 cents) decrease. The Consumer Price Index increased by 10-percent over t...

Ngày tải lên: 20/01/2014, 20:20

... the price of $2.00. Q=10- 2(2)+2 =8. 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 ... the conclusion that demand is completely price inelastic. S 1976 Price Quantity S 1 986 S 1996 D 1996 D 1 986 D 1976 Figure 2.10 11. Suppose the demand curve for a product is giv...

Ngày tải lên: 20/01/2014, 20:20

... Since the two slopes are not equal the consumer is not maximizing Chapter 3: Consumer Behavior 28 her satisfaction. The consumer is willing to trade 6 but only has to trade 4, so she should ... more of one good but not more of the other then she does not get any extra satisfaction. 8. What is the difference between ordinal utility and cardinal utility? Explain why the assumption...

Ngày tải lên: 20/01/2014, 20:20

... the information, is greater than the expected utility of the choice without the information. 8. How does the diversification of an investor’s portfolio avoid risk? An investor reduces risk

Ngày tải lên: 26/01/2014, 00:20

... equilibrium quantity, resulting in a loss of Chapter 9: The Analysis of Competitive Markets 1 18 surplus to consumers. Consumers will also purchase less than the quantity they demand at the ... as a whole. If the national government is trying to increase welfare, it should use a tariff. 8. The burden of a tax is shared by producers and consumers. Under what conditions will consumers

Ngày tải lên: 26/01/2014, 00:20