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中级微观经济学
中级微观经济学
101
Deadweight loss of monopoly is（）
102
For a monopolist who faces a downward sloping demand curve， marginal revenue is less than price whenever quantity sold is positive。
103
A monopolist is able to practice third degree price discrimination between two marketsThe demand function in the first market is q = 500-2p and the demand function in the second market is q = 1500-6pTo maximize his profits， he shoul
104
A monopolist finds that a person；s demand for its product depends on the person；s ageThe inverse demand function of someone of age y； can be written p = A（y）-q where A（y） is an increasing function of yThe product cannot be resold from one buye
105
Third degree price discrimination occurs when a monopolist sells output to different people at different prices， but every unit that an individual buys costs the same amount。
106
A monopolist finds that a persons demand for its product depends on the persons ageThe inverse demand function of someone of age y； can be written p = A（y） function of yThe product cannot be resold from one buyer to another and the monopolist
107
A monopolist finds that a persons demand for its product depends on the persons ageThe inverse demand function of someone of age y； can be written p = A（y）-q where A（y） is an increasing function of yThe product cannot be resold from one buyer
108
A monopolist produces a good using only one factor， laborThere are constant returns to scale in production， and the demand for the monopolist；s product is described by a downward sloping straight line with slope -1The monopolist faces a horizontal
109
If a monopsonist pays the wage rate w； then the amount of labor that he can hire is L（w） = Aw， where A is a positive constantThe marginal cost of labor to the monopsonist is：
110
A coal producer has a monopoly on coalA different monopoly controls the railroad that takes the coal to marketEach monopolist chooses prices to maximize its profitsIf the coal monopolist buys the railroad then it will increase its profits by raising t
111
For a monopsonist， the more elastic the supply of labor， the greater the difference between the marginal cost of labor and the wage rate。
112
If a monopolist faces a competitive labor market， it will hire labor up to the point where the price of output times the marginal product of labor equals the wage rate。
113
If a labor market is dominated by a monopolist， it is possible that the imposition of a minimum wage law could INCREASE the amount of employment in that market。
114
If an upstream monopolist sells to a downstream monopolist， the price to consumers will be higher than the competitive price， but not so high as it would be if the downstream monopolist took control of the upstream monopolists business and ran both t
115
A firm produces one output， using one input， with the production function f（x） = 2x1/3；where x is the amount of inputThe cost function for this firm is proportional to the price of the input times the cube of the amount of output。
116
A competitive firm has a continuous marginal cost curveIt finds that as output increases， its marginal cost curve first rises， then falls， then rises againIf it wants to maximize profits， the firm should never produce at a positive output where price eq
117
North Bend currently has one McDonald；s fast food franchiseDemand for hamburgers in North Bend is given by Q = 200 Q hamburgersIf a second McDonald；s franchise were to move into North Bend（and both behave as duopolists）， the profit of the orig
118
duopoly in which two identical firms are engaged in Bertrand competition will not distort prices from their competitive levels。
119
A Stackelberg leader will necessarily make at least as much profit as he would if he acted as a Cournot oligopolist。
120
In the Cournot model， each firm chooses its actions on the assumption that its rivals will react by changing their quantities in suchaway as to maximize their own profits。
121
In the Bertrand model of duopoly， each firm sets its price， believing that the others price will not changeWhen both firms have identical production functions and produce with constant returns to scale， the Bertrand equilibrium price is equal to mar
122
Monopoly always has constant elasticity demanD。
123
A famous Big Ten football coach had only two strategiesRun the ball to the left side
124
A situation where everyone is playing a dominant strategy must be a Nash equilibrium。
125
In a Nash equilibrium， everyone must be playing a dominant strategy。
126
In the prisoners dilemma game， if each prisoner believed that the other prisoner would deny the crime， then both would deny the crime。
127
A general has the two possible pure strategies， sending all of his troops by land or all of his troops by seaAn example of a mixed strategy is where he sends 1=4 of his troops by land and 3=4 of his troops by sea。
128
In Nash equilibrium， each player is making an optimal choice for herself， given the choices of the other players。
129
An allocation of the endowment that improves the welfare of all consumer is a Pareto-improving allocation。
130
In a Edgeworth box there are lot of ；allocations that are Pareto-optimal。
131
An externality is a cost or a benefit imposed upon someone by actions taken by others。
132
An economic situation involves a production externality if one firm’s production possibility is affected by the choices of the other firms not the consumers’。
133
Ronald Coase’s insight is that most externality problems are due to an inadequate specification of property rights。
134
To say that preferences are single peaked means that everybody either prefers more public goods to less or everybody prefers less public goods to more。
135
If a pure public good is provided by voluntary contributions， economic theory predicts that in general too little will be supplieD。
136
One of the problems with the Clarke tax mechanism is that when it is used， people have an incentive to lie about their preferences。
137
A small economy has only two consumers， Ben and PenelopeBens utility function is U（x； y） = x + 84y1/2 Penelopes utility function is U（x； y） = x + 7yAtaPareto optimal allocation in which both individuals consume some of each good， how much y d
138
According to the First Theorem of Welfare Economics：
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