Đây là tuyển tập chọn lọc đề bộ môn Kinh tế vi mô bằng Tiếng Anh Microeconomics, đầy đủ chi tiết các dạng bài. Phù hợp cho những bạn học kinh tế và học microeconomics nhé. Đề thi sẽ có rất nhiều dạng bài để ôn tập.
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FINAL EXAM Subject: Microcconomic= Program: E-PMP Intake: 4 Class: K60 ‘Venue: National Economics University
Date: / 2019 Shite ‘Time limit: 90 minutes
MULTIPLE CHOICE Choose the one alternative that best completes the statement 01 ‘uestion (2 points each)
nal 2 An advertising campaign which makes the demand for a good less elastic without ost of producing the good will: wg the mang
‘a certainly cause the firm's profits to decrease lead a profit maximizing firm to increase prices ¢ lead a profit maximizing firm to decrease prices
d cause the firm to shut down ey
© certainly result in the firm hiring more workers 2 A firm that wants to maximize profits should shut down whe:
total sales are less than total costs b total sales are less than fixed costs ¢ total sales are less than variable costs 4 all of the above
3 Which of the following is likely to affect demgaid ellie
a Availability of substitutes `
Ss b Proportion of income spent on an it cc The degree to which the item is ấ ty
=} d All of the above
% € b)ando) only Ly,
4 Demand is given by P = 1,000 — L perfect competition are a P= $600 and Q=10 b P=$700 and Q>$Qunit its units ¢ P=$800 and Q= d P=$1,000 ani e P=$800 10 units
5 A firm's total b Total a Total is 3,000 and fixed cost is 1,000 and marginal cost is 3,000 ` n is given by: TC = 1,000 + 15 ) At an output of 2( = it ¢ Tot st 1S 4,000 and marginal cost is 15
tal cost is constant
cand d are both correct
6A ice and cost equati i :P=200— =
i
noe equations
are given by: P = 200 — 2Q and TC 1,000 + 40Q, respective a The firm’s revenue is: TR =200-2Q2
Trang 22 increase increase the supply of the demand € increase the demand f
9f demand for a product is likely to be greater: ‘product is a necessity, rather than a luxury good
‘greater the amount of time over which buyers adjust to a price change the smaller the proportion of one's income spent on the product the smaller the number of substitute products available anti-drug policy that reduces the supply of crack cocaine might: a reduce the price of a "fix" from a $20 to a $10
Trang 3Marginal cos’ 20 ahd the average cost 75, we can be sure that Marginal Average Average tu total cont is fling com is ices =
None of the above is trac
‘ore unig venue for producing an addtional unit is Producer will contract production
` Fis Producer will expand production = The producer will keep ouput the same œ% 4 Allof the above are passibic
The ta cont function is ner,
© The marginal cost i ising ‘0: i
4 The firm will shut down if pridy is ow average Variable cost — ; : 19 With references to monopolies, a Equal to price curve is downward sloping, marginal revenue (MR) is
b Equal toaverage (AR) © Lessthan price’ Ì cả More than price
20 A monopolist has a Maximised revenue (MR) to zero The firm has bo Maxi
e None o
21 Inmong , firms have a certain amount of monopoly power because they ywnward sloping demand curves
in number freedom of entry
` 4d None of the above
=> alice adverse Te demand fo a goed le lsicíf = % ‘a the price elasticity is -1
b the price elasticity is less than -1
¢ the price elasticity is greater than -]
d, all of the above € none of the above
Trang 4none of the above = 24 In the short run, a perfectly competitive fem will sbut down
when both b and ¢ occur
25.A monopolistic firm will expand its output when đc marginal revenue exceeds mazginal cost marginal cost exceeds marginal revenve € marginal cost equals marginal revenue d marginal revenue is negative © none of the above
the extra cost of producing that unit eis eee eee 3) Advertisement makes the demand curve shift
a Find out price and quantity of the A monopolist ESSAY Write your answer faces the demand function, P = 100 20 and its cost function TC = 200 -20Q + in the space if its objective is to maximize total revenue or on a separate sheet of paper (30 points)
b Fïnd out price and quantity of the mo:
© What happen to price and quantity,
if'its objective is to maximize profit
firm has to pay a unit tax of S$/1 unit
Trang 5mene reas
Sete
Trang 8= SẺ
Sẽ,
om
Trang 1216, variabte cost of th +1007 ere no “7717 to conclude
ae continue question 16, maximum profit is?
Ì `
b 67.590 'e, 57.960
_ d None
3 21 Continue question 16, this monop’
' a P=475 b.P=375 lp =275 (@pNone 22 Continue questior a 4250 b — 4250 c 5796 đ None
23, When the government imposes tax 40$/ unit on this monopolist, ma
@me supply curve will change
b The demand curve will change
¢ The marginal cost will change
ite
a 21, in that case, profit is:
Trang 13yer WHE whenever © jong TU
aad exptanation (30 marks)
peutive fire will shut down nhế average total cost (10 men WHETESSES:
dp if the wage paid bY she fire HES due to mutual dependency ane
nd to be rigid
Trang 1410:57
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CENTER FOR ADVANCED EDUCATIONAL VIETNAM
PROGRAMS Independence — Freedom — Teeee=r=r=rr=r====r=e= Happiness
Midterm Exam 1 ( 80 minutes) 1 Multiple choices (4 points)
il |Each of the following is a determinant of demand except
la tastes b.Xitechnology c |expectations
the prices of related goods
2 |Suppose that when income rises, the demand curve for computers shi ie right In this case, we know computers are
la jinferior goods
b.XInormal goods
Ic |perfectly competitive goods
d |durable goods
8 'Which of the following events could shift
the left? curve for gasoline to
la |The income of gasoline buyers rises, and gasoline is a normal good
b |The income of gasoline buyers falls, and is an inferior good
c.X|Public service announcements run o vision encourage people to walk or ride bicycles instead of driving cars
d |The price of gasoline rises:
Id cause a movement upward and to the
right along the supply c tomatoes?
la |The number of se ‘oes increases
lb [There is an nce in technology that reduces the cost of producing tomatoes c.X i ilt lecreases, and fertilizer is an input in the production of
decrease in the supply of printers and a decrease in the quantity demanded of printers
c ja decrease in the equilibrium price of printers and an increase in the equilibrium quantity of printers
id jan increase in the equilibrium price of printers and a decrease in the equilibrium quantity of printers
6 [There is no shortage of scarce resources in a market economy because
la |the government makes shortages illegal
lb resources are abundant in market economies
c.X|prices adjust to eliminate shortages
id \quantity supplied is always greater than quantity demanded in market economies
(7 |A tax on the sellers of coffee will
la |increase the price of coffee paid by buyers, increase the effective price of coffee
received by Seller Sateen eee co Tee
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Ra lincrease the price of coffee paid by buyers, increase the effective price of coffee
received by sellers, and increase the equilibrium quantity of coffee
lb jincrease the price of coffee paid by buyers, increase the effective price of coffee
received by sellers, and decrease the equilibrium quantity of coffee
c |jincrease the price of coffee paid by buyers, decrease the effective price of coffee
received by sellers, and increase the equilibrium quantity of coffee
\d.X|increase the price of coffee paid by buyers, decrease the effective price of coffee
received by sellers, and decrease the equilibrium quantity of coffee
8 |Suppose there is currently a tax of $50 per ticket on airline tickets Sellers of
airline tickets are required to pay the tax to the government If the tax is reduced from $50 per ticket to $30 per ticket, then
la |the demand curve will shift upward by $20, and the effective price received by
sellers will increase by $20
b jthe demand curve will shift upward by $20, and the effective price received
sellers will increase by less than $20
c.X|the supply curve will shift downward by $20, and the price paid by buye
decrease by $20
\d {the supply curve will shift downward by $20, and the price paid by buye
decrease by less than $20
u True-False Questions (3 points)
1 An economy can produc point on or
inside its production possi s frontier, but it cannot produce at p outside its production possibilities frontie
2 When an increas Rice of one good lowers
the compl nother good, the two goods are
called co
Sr price will cause a change 3 A reduction
i plied, but not a change in supply
1 Given the table below, graph the demand and supply curves for flashlights Formulate the supply and demand curve Make certain to label the equilibrium price and equilibrium quantity
ice Quantity Quantity [Demanded Per Supplied Per Month Month $5 6,000 10,000 $4 8,000 8,000 $3 10,000 6,000 $2 12,000 4,000 $1 14,000 2,000
2 What is the equilibrium price and the equilibrium quantity?
3 Suppose the price is currently $5 What problem would exist in the market? What would you expect to happen to price? Show this on your graph
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MIDTERM EXAM 2 TRUE OR FALL
‘The difference between economic profit and accounting profit is that economic profit
is calculated based on both implicit and explicit costs whereas accounting profit is calculated based on explicit costs only
Although economists and accountants treat many costs differently, they both treat the
cost of capital the same
ing marginal product exists when the production function becomes flatiéy as
Dimi:
inputs increase `
The average fixed cost curve is constant
A monopolist’s supply curve is vertical
‘A monopoly creates a deadweight loss to society because ser Tess output than the socially efficient level
For a firm operating in a perfectly competitive , marginal revenue and average revenue are equal
A firm will shut down in the short run — not sufficient to cover its variable
e
costs of production
The supply curve of a firm in a itive market is the average variable cost curve above the minimum of marg
In the short run, thon
CN
Il, MULTIPLE CHOICE QUESTIONS
Oo
Trang 221 The amount of money that a firm receives from the sale of its output is called a total gross profit
b total net profit c total revenue d net revenue 2 Total cost is the
a amount a firm receives for the sale of its output b fixed cost less variable cost
c market value of the inputs a firm uses in production
d quantity of output minus the quantity of inputs used to make a good 3 Which of the following can be added to profit to obtain total revenue?
a net profit `
b capital profit c operational profit
d total cost C `
4 Accounting profit is equal to eS
marginal revenue minus marginal cost a
b total revenue minus the explicit cost Son goods and services c total revenue minus the TAS f producing goods and services
d average revenue minus the c of producing the last unit of a good or
service °
5 Kevin quit his $65, ar corporate lawyer job to open up his own law practice In Kevin's first cn ess his total revenue equaled $150,000 Kevin's explicit cost — the led $85,000 Using the information from Kevin's first year in
com economic profit? b $20,000
c $65,000 d $85,000
6 The marginal product of labor can be defined as a, change in profit/change in labor
Trang 23d change in labor/change in total cost
7 Let L represent the number of workers hired by a firm and let Q represent that firm's quantity of output Assume two points on the firm's production function are (L = 12, Q =
122) and (L = 13, Q = 132) Then the marginal product of the 13th worker is
a 8 units of output b 10 units of output c 122 units of output d 132 units of output
8 The value of a business owner's time is an example of a an opportunity cost
b a fixed cost `\
c anexplicit cost `
d total revenue
9 When the marginal product of an input declines as the mee input increases, the
production function exhibits ‹`
a increasing marginal product đó)
b diminishing marginal product O
c diminishing total product ` d Both b and c are correct "
10 Some costs do not vary wit ` of output produced Those costs are called a marginalcosts ©
b average costs! \ c fixed costs
ollowing measures of cost is best described as "the cost of a typical unit of otal cost is divided evenly over all the units produced?"
a average fixed cost
b average variable cost c average total cost d marginal cost
12 The cost of producing an additional unit of output is the firm's a marginal cost
Trang 24a Q = 20; PS = 600; x = 800 b Q= 20; PS = 800; x = 600 c Q = 60; PS = 200; x = 600 d Q = 80; PS = 600; x = 800
19 A perfectly competitive firm has average variable cost function as follow AVC = Q + 1 The firm’s supply function is:
a P=2Q+1 b.P=Q+l
c.P=Q+2 d.P=2Q+2
20 A perfectly competitive firm has total cost function as follow TC (S) = Q?+ 4Q + 225 The firm's break — even output and price are:
a P=15;Q=34 b P=19;Q=15
c.P=34;Q= l5 d P= 30; Q= 15
21 A perfectly competitive firm has total cost function as follow TC (S) = 5 oe + 125
If the market price is 80, the firm's output and profit are: `
a.Q=6;2=55 b.Q=8;xz=5 c.Q=4;x= 75 d.Q=
22 A monopolist is facing with the demand curve P = +4 and FC = 8000 Price and quantity when this «AON
a P= 376; Q = 124 b P= 124; Q = 376
c P=421;Q= 124 CY 5 sean ni
23 A monopoly faces a demand, fal n low (D): P = 80 — 2Q The firm’s total cost Lerner index and deadweight loss in this case are:
b L = 0,33; DWL = 50 d L = 0,33; DWL = 150
he firm’s cost are AVC = Q io maximize profit: function is given by TC = a L= 0,36; DWL = 1 c L= 0,30; go
24 The supply oe the monopolist nta
a is
—À- ical
C= sloping
Trang 2525 The profit-maximization problem for a monopolist differs from that of a competitive firm in which of the following ways?
A competitive firm maximizes profit at the point where marginal revenue equals marginal cost; a monopolist maximizes profit at the point where marginal revenue exceeds marginal cost
A competitive firm maximizes profit at the point where average revenue equals marginal cost; a monopolist maximizes profit at the point where average revenue exceeds marginal cost
For a competitive firm, marginal revenue at the profit-maximizing level of output is equal to marginal revenue at all other levels of output; for a monopolist, marginal revenue at the profit-maximizing level of output is smaller than it i§\for larger levels of output
For a profit-maximizing competitive firm, thinking at the in more important than it is for a profit-maximizing monopolist
26 A monopolist's average revenue is always a
b
c
d
®
27 For a monopoly firm, which of t thesia is always true? greater than the price of its product
equal to the price of its product O less than the price of its product
equal to marginal revenue ‹`
a price = marginal revenu b price = average reve’ c price = total rev =a
d marginal hoe cost
28 A profit: H monopolist charges a price of $12 The intersection of the marginal reve! - ginal cost curves occurs where output is 10 units and marginal cost is
$6 Average total cost for 10 units of output is $5 What is the monopolist’s profit? a $60
b $70 c $100 d $120
29, A firm that exits its market has to pay
Trang 26b
c
its fixed costs but not its variable costs both its variable costs and its fixed costs d neither its variable costs nor its fixed costs
30 When price exceeds average variable cost in the short run, a competitive firm's marginal
cost curve is regarded as its supply curve because
a the position of the marginal cost curve determines the price for which the firm should sell its product
among the various cost curves, the marginal cost curve is the only one that slopes upward,
the marginal cost curve determines the quantity of output the firm\is Willing to supply at any price
the firm is aware that marginal revenue must exceed giQal cost in order for
aes
RS
x
Trang 27Section B— Calculating exercises (20 Marks)
A monopolist is facing with the demand curve: P (USD) = 12-012 The firm’s cost functions are as follow:
MC (USD) =2+0.2Q and FC (USD) = 50
Where Q is in units
a Calculate P*, Q* and IT when this firm wants to maximize profit
b What is the Deadweight Loss caused by the firm’s decision?
c The government imposes 2$/unit tax on producer Calculate new P*, Q* and IT is firm still wants to maximize profit
d What is the firm’s profit in case that the firm practices perfect price di
Section C — Short_answer questions You are recom ` ly gøraphs where applicable (20 Marks) tò
1 When demand is less elastic than supply, =&% pay more tax Discuss
2 Non — cooperative oligopoly is no oligopoly However several situatio! better for’society but worse for firms than cooperative
common resources are worse for the society
NO eee
œ
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sion?
Trang 29MID TERM EXAM
lí TRUE OR FALSE & EXPLAINATION (50 points) 1;
2 Si
—
9
A technological breakthrough that greatly nền the The production possibilities frontier illustrate scarcity and production efficiency
Economic growth does not influence the production possibilities frontier
If an increase in household income leads to a fall in
the demand for sausages, this implies that sausages
are inferior goods
An increase in the price of X will lead to a shift in the supply curve of X in the short run
cost of farming Sydney will shift the supply dney
to the right
If the demand and supply of inicreased
simultaneously, we can confid edict an
increase in the price of X
- Ahorizontal demand curve is pe lastic
The cross-elasticity of deman een goods that
are good substitutes could be ected to be positive
and high
At household's income and the*prices it has to pay for
various goods set limits consumption choices
10 A positive marginal iit implies increasing total
2
utility
Il/ MULTIPLE CHOICE’ ints)
1 The problem of sc: i
a Exists only i of economic depression for rich
country °
b Is identi poverty
c Exists, economies
d Can bế Nữ ineted by allocating available resources
to ti orer sections of a society
here i be an outward shift in a country's PPF if: a Better methods of production are discovered and
applied
b Its labor force grows
c It accumulates more capital goods d Any of the above occurs
An has a weekly allowance of $12 which she spends
on orange juice and sandwiches If the price of a
sandwich is $2 and orange juice is $1 a glass, the
maximum number of glasses of orange juice she can afford to buy, for every quantity of sandwiches she