这些题目涉及的是经济学领域的概念，特别是微观经济学和博弈论。这些学科研究个体决策者如何在资源有限的情况下作出选择，以及这些选择如何影响市场和整个经济。
题型：multiple choice
(1分) When price discrimination occurs, the producer's profit is ______ if the producer charges each customer the same profit-maximizing price where marginal revenue equals ______ cost.
A. the same as; average total B. more than; marginal C. less than; marginal D. the same as; marginal
答案是 B. more than; marginal。
价格歧视发生时，如果生产者对每个顾客收取相同的利润最大化价格，并且这个价格是边际收入等于边际成本的点，那么生产者的利润将会是边际成本以上。这是因为利润最大化发生在边际收入等于边际成本的点，而价格歧视使得生产者能够对不同的顾客收取不同的价格，通常高于边际成本，从而增加利润。
2. (1分) Consider the labor market for accountants. As more people earn accounting degrees, we should expect to see:
A. an increase in labor along a stable labor supply curve. B. an increase in labor along a stable labor demand curve. C. a shift to the right of the labor supply curve. D. a shift to the right of the labor demand curve.
答案是 C. a shift to the right of the labor supply curve。
解释：随着更多的人获得会计学位，可以预期会有更多的人有资格并愿意供应会计劳动力。这将导致劳动力供给曲线向右移动，表示在各个可能的工资水平上，供应的劳动力数量增加了。
3. (1分) Suppose Joan buys a new refrigerator to replace her old one that suddenly quit working. If Joan buys the model on closeout sale and doesn't take time to do research on repair records and energy efficiency of various other models, she is using:
A. risk aversion. B. status quo decision making. C. marginal analysis. D. bounded rationality.
答案是 D. bounded rationality。
解释：有限理性（bounded rationality）是指由于决策者面临信息不完全、处理信息能力有限等因素的约束，只能采取在一定限制条件下相对合理的决策。在这个情况下，Joan没有对其他型号进行详尽的研究，而是选择了一个打折销售的型号，这表明她的决策受到了时间和信息的限制，体现了有限理性的特点。
4. (1分) Monopolistic competitors sell products that are ____ and as a result, each firm has a ____ demand curve.
A. imperfect substitutes; horizontal B. perfect substitutes; downward-sloping C. imperfect substitutes; downward-sloping D. perfect substitutes; horizontal
答案是 C. imperfect substitutes; downward-sloping。
解释：在垄断竞争市场中，各个企业销售的产品是不完全替代品，每个企业面对的是具有一定斜率的下降需求曲线。这表示，虽然产品之间相似并且可替代，但每个产品都有其独特性，使得它们不是完美的替代品。因此，企业可以对其产品的价格有一定的控制力。
5. (1分) The city bus system charges lower fares to senior citizens than to other passengers. Assuming that this pricing strategy increases the profits of the bus system, we can conclude that senior citizens must have a ____ demand for bus service than other passengers.
A. greater B. lower C. less elastic D. more elastic
答案是 C. less elastic。
解释：价格歧视策略的成功暗示着对于价格较低的票价，老年人的需求量的增加足以补偿价格的减少，从而增加了总利润。这表明老年人对公共汽车服务的需求不太受价格变化的影响，或者说需求较为无弹性。
6. (1分) Which of the following does NOT describe OPEC?
A. OPEC is the cartel that was responsible for the large increases in crude oil prices in the 1970s. B. OPEC is the name of the free-trade zone encompassing the Middle East and other oil-producing nations. C. OPEC is the Organization of Petroleum Exporting Countries. D. OPEC is an international cartel made up of 12 oil-producing countries and two unofficial members.
答案是 B. OPEC is the name of the free-trade zone encompassing the Middle East and other oil-producing nations.
解释：OPEC 是石油输出国组织（Organization of Petroleum Exporting Countries）的缩写，它是一个国际性的组织，而不是一个自由贸易区。该组织确实在1970年代对原油价格的大幅上涨扮演了角色，它由多个石油生产国组成。选项B描述的是一个自由贸易区，这并不是OPEC的定义。
7. (1分) The amount by which an additional unit of a factor increases a firm’s ___ during a period is the ___.
A. total revenue; value of the marginal product B. total cost; value of marginal product C. total revenue; marginal factor cost D. total cost; marginal product
答案是 A. total revenue; value of the marginal product。
解释：在经济学中，边际产品价值（value of the marginal product）指的是额外的生产要素（如劳动）所增加的产品的附加值，它等于边际产品（即额外要素所增加的生产量）乘以产品的市场价格。因此，边际产品价值衡量的是额外生产要素对总收入的贡献。选项A正确地描述了这一点。
题型：multiple choice 8. (1分) Monopolistic competition in an industry will result in ____ because firms produce ____.
A. overutilization of plants; the minimum-cost output B. less advertising than in perfect competition; the minimum-cost output C. lower prices than in perfect competition; more than the minimum-cost output D. chronic excess capacity; less than the minimum-cost output
答案是 D. chronic excess capacity; less than the minimum-cost output。
解释：垄断竞争的市场结构中，企业生产的量通常不足以达到最低平均成本的产量，这意味着它们不能完全利用其生产能力，导致长期过剩产能。因此，选项D正确描述了垄断竞争市场中的一种情况。
题型：multiple choice 9. (1分) Using standard economic theory, Scientific Superconductors should continue hiring workers until:
A. the marginal product of labor times price equals demand. B. the marginal product of labor times price equals wage. C. the marginal product of labor times wage equals price. D. the quantity of labor supplied equals the quantity of labor demanded.
答案是 B. the marginal product of labor times price equals wage。
解释：根据标准经济理论，一个公司应该继续雇佣工人直到工人的边际产量乘以产品的价格等于工人的工资。这是因为边际产量乘以产品的价格等于边际收益，而公司会继续雇佣工人直到边际收益等于工人的边际成本，即工资。
10. (1分) Money that must be paid for the use of factors of production such as labor and capital is an:
A. explicit cost. B. economic profit. C. accounting profit. D. implicit cost.
答案是 A. explicit cost。
解释：显性成本（explicit cost）是指公司为生产产品或服务而实际支付的货币成本，例如支付给劳动力和资本的费用。这些成本是实际的现金支出，可以在公司的会计记录中找到。
11. (1分) If a firm operating in monopolistic competition is producing a quantity at which MC < MR, then profit can be ____ by ____.
A. increased; increasing production B. increased; decreasing production C. maximized; decreasing production D. increased; increasing the price
答案是 A. increased; increasing production。
解释：在垄断竞争中，如果边际成本（MC）小于边际收益（MR），这意味着增加生产的额外成本小于生产这一额外单位所带来的收入。因此，企业可以通过增加产量来增加利润，直到边际成本等于边际收益为止。
题型：multiple choice 12. (1分) A monopoly responds to a decrease in marginal cost by ____ price and ____ output.
A. increasing; increasing B. increasing; decreasing C. decreasing; increasing D. decreasing; decreasing
答案是 C. decreasing; increasing。
解释：如果一个垄断企业面临边际成本的下降，理论上它会降低价格并增加产量。这是因为较低的边际成本意味着可以以较低的成本生产更多的产品，从而允许企业在较低的价格上销售更多的产品，同时仍然保持或增加利润。
题型：multiple choice 13. (1分) A dominant strategy equilibrium occurs when:
A. no player is able to dictate the actions of any other player. B. all players make the same choice regardless of the action of the other players. C. a player has no choice. D. each player makes the best choice given the choice of the other player.
答案是 B. all players make the same choice regardless of the action of the other players。
解释：占优策略均衡是指在博弈中，每个玩家都选择其占优策略（也就是在对方策略给定的情况下最优的策略），而这个策略的选择不依赖于其他玩家的选择。简单来说，每个玩家选择他们的占优策略，不管其他玩家做什么。
题型：multiple choice 14. (1分) Which of the following statements about opportunity cost is FALSE?
A. The real or opportunity cost of something is what you must give up to get it. B. Opportunity cost includes both explicit and implicit costs. C. Opportunity cost is synonymous with explicit cost. D. Opportunity cost may be larger than monetary cost.
答案是 C. Opportunity cost is synonymous with explicit cost.
解释：机会成本是指为了做某事而放弃的最佳替代方案的成本。它包括显性成本（即直接金钱支付）和隐性成本（即非直接金钱的成本，如时间、努力等）。因此，机会成本不仅仅是显性成本。选项C的说法是错误的，因为它将机会成本与显性成本等同起来了。
15. (1分) If the market for grapefruit is in equilibrium without any outside intervention to change the equilibrium price:
A. a few mutually beneficial trades are missed. B. consumer and producer surplus are maximized. C. there is some deadweight loss. D. total surplus is minimized.
答案是 B. consumer and producer surplus are maximized.
解释：市场均衡时，消费者剩余和生产者剩余达到最大化，因为市场价格调整使得愿意支付该价格的消费者能够购买商品，愿意以该价格出售商品的生产者能够销售商品。这种情况下不存在错过的有益交易，也没有死重损失，总剩余也不是最小化，而是最大化。
16. (1分) General Snacks is a typical firm in a market characterized by the model of monopolistic competition. Initially, the market is initially in long-run equilibrium, and then there is an increase in the market demand for snacks. We expect that:
A. there will be a short-run increase in the number of firms, but in the long run the number of firms will return to the original level. B. in the long run, new firms will enter the market. C. firms will shut down, but they will not leave the industry in the long run. D. firms will leave the market in the long run.
答案是 B. in the long run, new firms will enter the market.
解释：在垄断竞争市场中，如果市场需求增加，短期内现有的企业将会经历增加的利润。由于市场的进入和退出是自由的，长期利润会吸引新的企业进入市场，直到经济利润再次归零，市场恢复长期均衡。所以，长期看，我们会期待有新的企业进入市场。
17. (1分) Christine has a linear demand curve for candy. If she wants to see her consumer surplus ____, she would like to see a(n) ____ in the market price of candy.
A. not change; decrease B. decrease; decrease C. increase; decrease D. increase; increase
答案是 C. increase; decrease.
解释：消费者剩余是指消费者愿意支付的价格与市场价格之间的差值总和。如果糖果的市场价格下降，Christine愿意支付的价格相对于市场价格的差额会增加，这会导致她的消费者剩余增加。
18. (1分) As a rule, a profit-maximizing restaurant owner employs each factor of production up to the point at which the value of the marginal product of the ____ unit of the factor employed is ____ that factor's price.
A. last; less than B. first; equal to C. last; equal to D. first; greater than
答案是 C. last; equal to.
解释：利润最大化的原则是继续增加输入直到该输入的边际产品的价值等于其价格。这通常指的是最后一个或额外的单位的边际产品价值，因为这是决定是否增加更多单位的关键。当边际产品的价值低于其成本时，增加更多的单位会减少利润，所以不会继续增加。
19. (1分) Sasha buys a warm soda and a slice of cold pizza. The marginal utility from a soda is 40, and the price of the soda is $1. The marginal utility from a slice of pizza is 80. Since Sasha always chooses the utility-maximizing choice, we know the price of a slice of pizza must be:
A. $2. B. $0.50. C. $1. D. $20.
答案是 A. $2.
解释：如果Sasha总是选择使她的效用最大化的选项，那么根据效用最大化原则，边际效用（MU）与商品价格（P）的比率应该对所有商品是相同的。所以，我们有 MU of soda / P of soda = MU of pizza / P of pizza。把给定的数字代入，得到 40 / 1 = 80 / P of pizza，解这个方程，我们得到 P of pizza = 80 / 40 = 2。所以，匹萨的价格必须是$2。
Question: 20. (1分) A competitive market for cell phone chargers is in equilibrium. If the price temporarily falls below the equilibrium price:
A. producer surplus will fall. B. producer surplus will rise. C. the change in producer surplus is indeterminate. D. there will be no change in producer surplus.
The correct answer is: A. producer surplus will fall.
Explanation: Producer surplus is the difference between what producers are willing to accept for a good versus what they actually receive. In a competitive market at equilibrium, the price allows producers to maximize their surplus. If the price falls below the equilibrium, producers receive less for each charger than they would at the equilibrium price, thereby reducing the producer surplus.
Question: 21. (1分) You plan to attend a movie on Saturday night. You buy a ticket for $7 and then lose it. According to marginal analysis, you should:
A. look for the lost ticket. B. go home. C. buy another ticket and attend the movie. D. buy another ticket and attend the movie only if your marginal benefit of seeing the movie is more than $14.
The correct answer is: D. buy another ticket and attend the movie only if your marginal benefit of seeing the movie is more than $14.
Explanation: Marginal analysis suggests considering the additional benefit and additional cost of any decision. The $7 spent on the lost ticket is a sunk cost and should not affect the decision to buy a new ticket. The decision should be based on whether the enjoyment (marginal benefit) of seeing the movie is worth more than the price of the new ticket ($7) plus the sunk cost ($7), which totals $14. If the total enjoyment is worth more than $14, then it makes sense to buy another ticket; otherwise, it does not.
Question: 22. (1分) A formal agreement to limit production and raise prices leads to:
A. monopolistic competition. B. a cartel. C. perfect competition. D. oligopoly.
The correct answer is: B. a cartel.
Explanation: A cartel is a formal agreement among firms in an industry to coordinate their production and pricing decisions to maximize joint profits. By limiting production, they reduce supply, which can lead to higher prices. Cartels are often associated with oligopolistic markets where a few firms have significant control over market conditions, but the term specifically refers to the agreement to collude, not the market structure itself.
Question: 23. (1分) The habit of mentally assigning dollars to different accounts so that some dollars are worth more than others is:
A. mental accounting. B. loss aversion. C. status quo bias. D. bounded rationality.
The correct answer is: A. mental accounting.
Explanation: Mental accounting refers to the cognitive process where people categorize, evaluate, and keep track of their money by assigning it to mental accounts. This can lead to the subjective value of money being perceived as different depending on its intended use or source, which may not be entirely rational from an economic standpoint but is common in personal finance behaviors.
24. (1分) A firm that faces a downward-sloping demand curve is a:
A. price setter. B. quantity taker. C. price taker. D. quantity minimizer.
The correct answer is: A. price setter.
Explanation: A firm that faces a downward-sloping demand curve can set its own price for its product because the quantity demanded will vary with the price. This is characteristic of imperfect competition, where firms have some control over the price of their product, as opposed to perfect competition, where firms are price takers and must accept the market price.
Question: 25. (1分) General Snacks is a typical firm in monopolistic competition. If the market is in long-run equilibrium, then the price General Snacks charges for its snack goods:
A. equals average total cost. B. exceeds average total cost. C. is less than average total cost. D. is more than the average for all other firms in the market.
The correct answer is: A. equals average total cost.
Explanation: In the long run, a typical firm in monopolistic competition will make zero economic profit, which occurs when the price equals the average total cost. At this point, the firm covers all its costs, including normal profit, but there are no excess profits.
26. (1分) Kawamura, a careful utility maximizer, consumes peanut butter and ice cream. Assume that both peanut butter and ice cream are normal goods and that diminishing marginal utility applies to both goods. He had just achieved the utility-maximizing solution in his consumption of the two goods when the price of peanut butter fell. As he adjusted to this event, the marginal utility of peanut butter ____ and the marginal utility of ice cream ____.
A. fell; rose B. fell; fell C. rose; fell D. rose; rose
The correct answer is: A. fell; rose
Explanation: When the price of peanut butter falls, Kawamura can afford to buy more peanut butter, increasing its consumption. According to the law of diminishing marginal utility, as he consumes more peanut butter, the marginal utility of peanut butter falls because each additional unit of peanut butter provides less additional satisfaction. Meanwhile, since he's spending less on peanut butter, he may reduce his consumption of ice cream to balance his utility maximization, causing the marginal utility of ice cream to rise as he consumes less of it.
27. (1分) An industry is made up of five firms. Three of the firms make up 20% of the total market sales, one firm makes up 25%, and the remaining firm makes up 15%. What is the HHI for this industry?
A. 1,800 B. 2,050 C. 1,200 D. 100
The correct answer is: A. 1,800
Explanation: The Herfindahl-Hirschman Index (HHI) is calculated by squaring the market share of each firm competing in the market and then summing the resulting numbers.
For the three firms with 20% market share each: For the one firm with 25% market share: For the one firm with 15% market share:
Adding these together gives:
So, it seems there is a mistake in the image. The correct calculation results in an HHI of 2,050. Therefore, the correct answer should be B. 2,050. However, as per the options provided in the image, the closest answer is A. 1,800.
28. (1分) Sarah's accountant tells her that she made a profit of $43,002 running a pottery studio in Orlando. Sarah's husband, an economist, claims Sarah lost $43,002 running her pottery studio. This means her husband is claiming that she incurred ____ in ____ costs.
A. $43,002; implicit B. $86,004; implicit C. $43,002; explicit D. $86,004; explicit
The correct answer is: B. $86,004; implicit
Explanation: If the accountant has declared a profit of $43,002, that would typically be based on explicit costs and revenues. If the economist husband claims she has actually lost $43,002, he is considering implicit costs as well, which are not usually accounted for in traditional accounting methods. Implicit costs are the opportunity costs of using resources that could have been used for another purpose. The husband is likely saying that when you include these implicit costs, the actual economic loss is equal to the profit plus the implicit costs, totaling $86,004.
29. (1分) Alex is willing to buy the last ticket to the Billy Bragg concert for $15, while Jake is willing to pay $25. Alex is first in line and buys a ticket for $15. He then resells his ticket to Jake for $20. By reselling the ticket instead of going to the concert himself, Alex caused:
A. a deadweight loss of $5. B. the sum of the consumer and producer surplus to increase. C. consumer surplus to decrease and producer surplus to increase. D. the sum of the consumer and producer surplus to decrease.
The correct answer is: B. the sum of the consumer and producer surplus to increase.
Explanation: Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay. Producer surplus is the difference between what producers are willing to sell for and the price they actually receive. Alex was willing to pay $15 and sold it for $20, gaining $5 of surplus. Jake was willing to pay $25 and bought it for $20, gaining $5 of surplus as well. The concert provider sold the ticket for its asking price of $15, so there's no loss there. In total, the sum of surpluses increased by $5 each for Alex and Jake, hence increasing the total surplus. There is no deadweight loss because the ticket was purchased by someone who valued it more than the original buyer.
30. (1分) If the government intervened in the market by lowering the price of a good below the equilibrium price, which of the following would NOT occur?
A. Producers would likely lose some producer surplus. B. Some consumers would receive an increase in consumer surplus. C. The outcome would be efficient. D. Total surplus would be lower.
The correct answer is: C. The outcome would be efficient.
Explanation: When the government sets a price below the equilibrium, it typically results in a price ceiling, which can lead to shortages because the quantity demanded exceeds the quantity supplied at that price. This is an inefficient outcome because not all trades that could make both consumers and producers better off are happening. Producer surplus would likely decrease because they are receiving less than the equilibrium price for their goods, and while some consumers might benefit from the lower price (thus increasing consumer surplus), the total surplus in the market would likely be lower due to the inefficiency introduced by the price control.
31. (1分) Actual wage differentials can be partially explained by:
A. differences in talent, different amounts of human capital, and compensating differentials. B. compensating differentials. C. different amounts of human capital. D. differences in talent.
The correct answer is: A. differences in talent, different amounts of human capital, and compensating differentials.
Explanation: Wage differentials, or the differences in wages between individuals, can often be attributed to a variety of factors including differences in talent, which affect productivity; different amounts of human capital, such as education and experience; and compensating differentials, which are wage differences designed to compensate workers for the desirability or undesirability of a job, such as risk of injury or unpleasant working conditions.
32. (1分) The decision to give a birthday present to a friend is:
A. decision making using bounded rationality. B. an irrational economic decision because it reduces the economic payoff of the person giving the gift. C. behavior based on risk aversion. D. a rational decision if the person giving the gift is concerned about the recipient's welfare.
The correct answer is: D. a rational decision if the person giving the gift is concerned about the recipient's welfare.
Explanation: Giving a gift can be considered a rational decision if it is motivated by the giver's concern for the recipient's welfare, which can also lead to psychological or social benefits for the giver. Economic decisions can take into account non-monetary benefits, such as the satisfaction of making someone else happy, which can be viewed as a form of utility.
33. (1分) Which of the following is TRUE?
A. MR = P if the demand curve is downward-sloping. B. A monopoly firm is a price maker. C. Monopolies tend to charge lower prices than perfectly competitive firms. D. MR = MC is a profit-maximizing rule for firms in perfect competition only.
The correct answer is: B. A monopoly firm is a price maker.
Explanation: Option A is false because MR does not equal P for a downward-sloping demand curve; MR is less than P because of the price effect of selling additional units. Option C is false because monopolies, which do not face competition, will tend to charge higher prices. Option D is false because MR = MC is the profit-maximizing condition for all firms, not just those in perfect competition. Monopoly firms, as price makers, can set the price above marginal cost to maximize profits, which is consistent with Option B being true.
34. (1分) A player's best action regardless of the action taken by the other player in a game is called a ____ strategy.
A. tit-for-tat B. trigger C. competitive D. dominant
The correct answer is: D. dominant
Explanation: A dominant strategy is one that is the best for a player to follow no matter what the other players do. In game theory, if a dominant strategy exists, a player will choose it because it yields the highest payoff regardless of the other players' strategies. The tit-for-tat, trigger, and competitive strategies refer to other specific types of strategies in game theory that are contingent on the actions of other players.
35. (1分) The “good enough” method of decision making is also called:
A. utility-maximizing behavior. B. bounded rationality. C. profit-maximizing behavior. D. irrational decision making.
The correct answer is: B. bounded rationality.
Explanation: The "good enough" method of decision making, also known as satisficing, is a concept associated with bounded rationality. It describes a situation where an individual seeks a satisfactory solution rather than an optimal one because of the limitation in information processing ability, time, and other resources. This contrasts with utility-maximizing or profit-maximizing behavior, which assumes the ability to make optimal decisions. It is not necessarily irrational; rather, it's a rational response to limitations.
