微观经济学期末试卷

汕头大学2008 至 2009学年第一学期《微观经济学》试卷

学院年级姓名学号分数评卷 Part I. Multiple choice (1 points per each, 20 points in total)

1. The demand curve for color TV sets might shift to the left because ( C ).

A. The price of color TV sets increases

B. The price of black-and-white TV sets increases

C. Consumers expect that the price of color TV sets will fall

D. Consumers’ income increases

2. Among the following cost curves, ( B ) is NOT U-shaped.

A. Average Variable Cost

B. Average Fixed Cost

C. Average Total Cost

D. Marginal Cost

3. In terms of market structure, ( D ) is close to perfectly competitive market.

A. Automobile

B. Cigarette

C. Newspaper

D. Agricultural produce

4. At the optimal output level of monopolists, ( A ).

A. MR = MC

B. P = MC

C. Price = the minimum of A VC

D. Price is the highest

5. If you exhibit the endowment effect as a decision maker, then you are ( C )

A. deciding on the basis of sunk costs.

B. buying something you can't really afford because you expect to save in the future.

C. ignoring opportunity costs.

D. consuming based on celebrity endorsements.

6. One limitation of the Coase Theorem is that ( D ).

A. it is valid only when there are many producers

B. it is valid only when there are many consumers

C. it is valid only when property system is well established

D. it is not valid when transaction costs are high

7. Which of the following is correct about a simple circular flow model? ( C )

A. Producers are neither buyers nor sellers in the product market.

B. Households are sellers in the product market.

C. Producers are buyers in the factors market.

D. None of these are correct.

8. A firm will shut down in the short run if the price is below ( A ).

A. Average variable cost

B. Average total cost

C. Average fixed cost

D. Marginal cost

9. In terms of dividing the tax burden, consumers (not producers) will pay the tax if ( C ).

A. price elasticity of supply and price elasticity of demand are both very large

B. price elasticity of supply is close to zero

C. price elasticity of demand is close to zero

D. price elasticity of supply and price elasticity of demand are similar

10. The ultimate purpose of patents and copyrights is to ( D )

A. provide owners with large profit forever.

B. protect firms from being taken advantage of by competing firms.

C. protect domestic firms from foreign competition.