微观经济学习题
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1. What might cause a demand function to shift to the right?
(2.50 points)
Your response:
a.
An increase in the price of a substitute.
(You answered correctly!)
Feedback :
Learning Objective: Shifting the demand curve
Level of Learning: Knowledge
Source: Unique
Type: Word Problem
2.50 points awarded.
The correct answer is:
a. An increase in the price of a substitute.
b. An increase in the product's own price.
c. An increase in the price of a complement.
d. A decrease in the price of a substitut
e.
e. An expectation that the product's own price will fall in the
future.
2. In a free market, if the price of a good is above the equilibrium
price, then
(2.50 points)
Your response:
c.
demanders, wanting to ensure they acquire the good, will bid the price lower.
Feedback :
Learning Objective: Determination of prices
Level of Learning: Comprehension
Source: Unique
Type: Word Problem
0 points awarded.
The correct answer is:
a. government needs to set a higher price.
b. suppliers, dissatisfied with growing inventories, will raise
the price.
c. demanders, wanting to ensure they acquire the good, will
bid the price lower.
d. government needs to set a lower pric
e.
e. suppliers, dissatisfied with growing inventories, will lower
the price.
3.
Reference: 3-11
Assume figure 4.3 illustrates the change when firms' technology improves. As a result, the equilibrium price moves from _____ to _____.
(2.50 points)
Your response:
c.
$60; $30
(You answered correctly!)
Feedback :
Learning Objective: Shifting the supply curve
Level of Learning: Application
Source: Unique
Type: Graphical Problem
2.50 points awarded.
The correct answer is:
a. $30; $60
b. $20; $30
c. $60; $30
d. $30; $20
e. $60; $20
4. The supply of Shrek action figures is shown below. The bold, solid
line is the current supply.
Reference: 3-9
If the price of the plastic used to make action figures rises, supply will
(2.50 points)
Your response:
c.
shift from Current Supply to Supply A.
(You answered correctly!)
Feedback :
Learning Objective: Shifting the supply curve
Level of Learning: Application
Source: Unique
Type: Word Problem
2.50 points awarded.
The correct answer is:
a. shift from Current Supply to Supply B.