[試題] 97上 劉錦添 經濟學一 期末考
課程名稱︰經濟學一
課程性質︰選修可抵通識
課程教師︰劉錦添
開課學院：社科學院
開課系所︰經濟系
考試日期（年月日）︰98/1/14
考試時限（分鐘）：9:10~11:30
是否需發放獎勵金：是, 謝謝
（如未明確表示，則不予發放）
試題：
一、選擇題 （試題分A,B,C,D四卷，惟題目順序不同，此為B卷）
1.When a monopolistically competitive firm is in long-run equilibrium,
A.marginal revenue is equal to marginal cost.
B.marginal revenue is equal to average total cost.
C.marginal revenue is equal to price.
D.price is equal to marginal cost.
2.Ignoring oligopoly and focusing on the other three types of market
structure, in which of those market structures does a profit-maximizing firm
charge a price that exceeds marginal cost?
A.monopoly only
B.monopoly and monopolistic competition only
C.monopoly, monopolistic competition, and perfect competition
D.It depends on whether we are in the short run or the long run.
3.Which of the following theories explains why increased education translates
into higher wages?
(i) human-capital theory
(ii) the theory of compensating differential
(iii)signaling theory
A.(i) only
B.(i) and (ii)
C.(i) and (iii)
D.(ii) and (iii)
4.Technology is an important factor in explaining the high incomes of
superstars because
A.technology accounts for differences in incomes within all occupations.
B.technology makes it possible for the best producer to supply every
customer at low cost.
C.technology which can limit access to the superstars is available.
D.only technologically literate superstars can earn super incomes.
5.As a result of a severe flooding, a farmer loses one half of his productive
farmland. If the property of diminishing returns applies to all factors of
production, he should expect to see
A.an increase in the marginal productivity of his remaining land and an
increase in the marginal productivity of his labor.
B.an increase in the marginal productivity of his remaining land and a
decrease in the marginal productivity of his labor.
C.a decrease in the marginal productivity of his remaining land and an
increase in the marginal productivity of his labor.
D.a decrease in the marginal productivity of his remaining land and a
decrease in the marginal productivity of his labor.
6.A firm in a competitive market has following cost structure:
┌───┬─────┐
∣Output∣Total Cost∣
├───┼─────┤
│ 0 │ $5 │
├───┼─────┤
│ 1 │ $10 │
├───┼─────┤
│ 2 │ $12 │
├───┼─────┤
│ 3 │ $15 │
├───┼─────┤
│ 4 │ $24 │
├───┼─────┤
│ 5 │ $40 │
└───┴─────┘
If the market price is $4, this firm will
A.produce two units in the short run and exit in the long run.
B.produce three units in the short run and exit in the long run.
C.produce four units in the short run and exit in the long run.
D.shut down in the short run and exit in the long run.
7.A long-run supply curve that is flatter than a short-run supply curve
results from which of the following?
A.Firms can enter and exit a market more easily in the long run than in the
short run.
B.Long-run supply curves are sometimes downward sloping.
C.Competitive firms have more control over demand in the long run.
D.Firms in a competitive market face identical cost structures.
8.Monopoly firms have
A.downward-sloping demand curves and they can sell as much output as they
desire at the market price.
B.downward-sloping demand curves and they can sell only a limited quantity
of output at each price.
C.horizontal demand curves and they can sell as much output as they desire
at the market price.
D.horizontal demand curves and they can sell only a limited quantity of
output at each price.
9.Which of the following will weaken OPEC's effect on the world price of oil?
(i) Member countries abide by the regulatory policy set forth under the
original collusive agreement.
(ii) Member countries increase their own production.
(iii)Member countries set their level of production in order to capture a
larger share of the total profit available.
A.(i) and (ii)
B.(ii) and (iii)
C.(i) and (ii)
D.(i) only
10.A prisoners' dilemma game demonstrates how cooperative action is often not
rational even though
A.prisoners are not capable of individual choice.
B.cooperation would make everyone worse off.
C.cooperation would make everyone better off.
D.All of the above can be demonstrated with a prisoner's dilemma game.
二、問答題
1.Assume that the gold-mining industry is competitive.
a.Illustrate a long-run equilibrium using diagrams for the gold market and
for a representative gold mine.
b.Suppose that an increase in jewelry demand induces a surge in the demand
for gold. Using your diagrams from part (a), show what happens in the
short run to the gold market and to each existing gold mine.
c.If the demand for gold remains high, what would happen to the price over
time? Specifically, would the new long-run equilibrium price be above,
below, or equal to the short-run equilibrium price in part (b)? Is it
possible for the new long-run equilibrium price to be above the original
long-run equilibrium price? Explain.
2.Many schemes for price discriminating involve some cost. For example,
discount coupons take up the time and resources of both the buyer and the
seller. This question considers the implications of costly price
discrimination. To keep things simple, let's assume that our monopolist's
production costs are simply proportional to output so that average total
cost and marginal cost are constant and equal to each other.
a.Draw the cost, demand, and marginal revenue curves for the monopolist.
Show the price the monopolist would charge without price discrimination.
b.In your diagram, mark the area equal to the monopolist's profit and call
it X. Mark the area equal to consumer surplus and call it Y. Mark the area
equal to the deadweight loss and call it Z.
c.Now suppose that the monopolist can perfectly price discriminate. What is
the monopolist's profit? (Give your answer in terms of X, Y, Z.)
d.What is the change in the monopolist's profit from price discrimination?
What is the change in total surplus from price discrimination?
Which change is larger? Explain. (Give your answer in terms of X, Y, Z)
e.Now suppose that there is some cost of price discrimination. To model this
cost, let's assume that the monopolist has to pay a fixed cost C to price
discriminate. How would a monopolist make the decision whether to pay this
fixed cost? (Give your answer in terms of X, Y, Z, and C.)
f.How would a benevolent social planner, who cares about total surplus,
decide whether the monopolist should price discriminate? (Give your answer
in terms of X, Y, Z, and C.)
g.Compare your answers to parts (e) and (f). How does the monopolist's
incentive to price discriminate differ from the social planner's? Is it
possible that the monopolist will price discriminate even though it is
not socially desirable?
3.Greater consumption od alcohol leads to more motor vehicle accidents and,
thus, imposes costs on people who do not drink and drive.
a.Illustrate the market for alcohol, labeling the demand curve, the
social-value curve, the supply curve, the social-cost curve, the market
equilibrium level of output, and the efficient level of output.
b.On your graph, shade the area correspondong to the deadweight loss of
the market equilibrium.
4.Sparkle is one firm of many in the market for toothpaste, which is in
long-run equilibrium.
a.Draw a diagram showing Sparkle's demand curve, marginal revenue curve,
average total cost curve, and marginal cost curve. Label Sparkle's
profit-maximizing output and price.
b.What is Sparkle's profit? Explain.
c.On your diagram, show the consumer surplus derived from the purchase of
Sparkle toothpaste. Also show the deadweight loss relative to the
efficient level of output.
d.If the government forced Sparkle to produce the efficient level of output,
what would happen to the firm? What would happen to Sparkle's customers?
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