曼昆《经济学原理》(微观)第五版测试题库 (15).doc
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1、Chapter 15MonopolyTRUE/FALSE1.Monopolists can achieve any level of profit they desire because they have unlimited market power.ANS:FDIF:2REF:15-0NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Interpretive2.Even with market power, monopolists cannot achieve any level of profit they desire because they will
2、sell lower quantities at higher prices.ANS:TDIF:2REF:15-0NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Interpretive3.One characteristic of a monopoly market is that the product is virtually identical to products produced by competing firms.ANS:FDIF:2REF:15-1NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Definiti
3、onal4.The fundamental cause of monopolies is barriers to entry.ANS:TDIF:2REF:15-1NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Interpretive5.The De Beers Diamond company advertises heavily to promote the sale of all diamonds, not just its own. This is evidence that it has a monopoly position to some degre
4、e.ANS:TDIF:1REF:15-1NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Interpretive6.The De Beers Diamond company is not worried about differentiating its product from all other gemstones.ANS:FDIF:1REF:15-1NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Interpretive7.The amount of power that a monopoly has depends on
5、whether there are close substitutes for its product.ANS:TDIF:1REF:15-1NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Interpretive8.If the ABC company owns the exclusive rights to mine land in Afghanistan for Lapis Lazuli, a rare stone used in jewelry which is found only in Afghanistan, the company benefits
6、 from a barrier to entry.ANS:TDIF:1REF:15-1NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Applicative9.Copyrights and patents are examples of barriers to entry that afford firms monopoly pricing powers.ANS:TDIF:2REF:15-1NAT:AnalyticLOC:MonopolyTOP:PatentsMSC:Interpretive10.If the government deems a newly i
7、nvented drug to be truly original, the pharmaceutical company is given the exclusive right to manufacture and sell the drug for 50 years.ANS:FDIF:1REF:15-1NAT:AnalyticLOC:MonopolyTOP:PatentsMSC:Interpretive11.A natural monopoly has economies of scale for most if not all of its range of output.ANS:TD
8、IF:2REF:15-1NAT:AnalyticLOC:MonopolyTOP:Natural monopolyMSC:Applicative12.Declining average total cost with increased production is one of the defining characteristics of a natural monopoly.ANS:TDIF:1REF:15-1NAT:AnalyticLOC:MonopolyTOP:Natural monopolyMSC:Definitional13.A monopolist maximizes profit
9、 by producing an output level where marginal cost equals price.ANS:FDIF:2REF:15-2NAT:AnalyticLOC:MonopolyTOP:Profit maximizationMSC:Interpretive14.A monopolist produces an output level where marginal revenue equals marginal cost and charges a price where marginal cost equals average total cost.ANS:F
10、DIF:2REF:15-2NAT:AnalyticLOC:MonopolyTOP:Profit maximizationMSC:Applicative15.Average revenue for a monopoly is the total revenue divided by the quantity produced.ANS:TDIF:1REF:15-2NAT:AnalyticLOC:MonopolyTOP:Average revenueMSC:Definitional16.For a monopoly, marginal revenue is often greater than th
11、e price they charge for their good.ANS:FDIF:1REF:15-2NAT:AnalyticLOC:MonopolyTOP:Marginal revenueMSC:Interpretive17.Like competitive firms, monopolies choose to produce a quantity in which marginal revenue equals marginal cost.ANS:TDIF:2REF:15-2NAT:AnalyticLOC:MonopolyTOP:Profit maximizationMSC:Inte
12、rpretive18.Like competitive firms, monopolies charge a price equal to marginal cost.ANS:FDIF:2REF:15-2NAT:AnalyticLOC:MonopolyTOP:Profit maximizationMSC:Interpretive19.A monopolist produces where P MC = MR.ANS:TDIF:2REF:15-2NAT:AnalyticLOC:MonopolyTOP:Profit maximizationMSC:Interpretive20.A monopoli
13、st produces where P = MC = MR.ANS:FDIF:2REF:15-2NAT:AnalyticLOC:MonopolyTOP:Profit maximizationMSC:Interpretive21.A monopolist does not have a supply curve because the firms decision about how much to supply is impossible to separate from the demand curve it faces.ANS:TDIF:2REF:15-2NAT:AnalyticLOC:M
14、onopolyTOP:Supply curveMSC:Interpretive22.A monopolists supply curve is vertical.ANS:FDIF:1REF:15-2NAT:AnalyticLOC:MonopolyTOP:Supply curveMSC:Applicative23.A monopolists supply curve is horizontal.ANS:FDIF:1REF:15-2NAT:AnalyticLOC:MonopolyTOP:Supply curveMSC:Applicative24.During the life of a drug
15、patent, the monopoly pharmaceutical firm maximizes profit by producing the quantity at which marginal revenue equals marginal cost.ANS:TDIF:1REF:15-2NAT:AnalyticLOC:MonopolyTOP:Profit maximizationMSC:Interpretive25.The socially efficient quantity is found where the demand curve intersects the margin
16、al cost curve.ANS:TDIF:2REF:15-3NAT:AnalyticLOC:MonopolyTOP:Deadweight lossMSC:Interpretive26.The deadweight loss for a monopolist equals one-half of its profits for any given level of output.ANS:FDIF:2REF:15-3NAT:AnalyticLOC:MonopolyTOP:Deadweight lossMSC:Interpretive27.A monopoly creates a deadwei
17、ght loss to society because it earns both short-run and long-run positive economic profits.ANS:FDIF:2REF:15-3NAT:AnalyticLOC:MonopolyTOP:Deadweight lossMSC:Interpretive28.A monopoly creates a deadweight loss to society because it produces less output than the socially efficient level.ANS:TDIF:2REF:1
18、5-3NAT:AnalyticLOC:MonopolyTOP:Deadweight lossMSC:Interpretive29.Suppose a profit-maximizing monopolist faces a constant marginal cost of $10, produces an output level of 100 units, and charges a price of $50. The socially efficient level of output is 200 units. Assume that the demand curve and marg
19、inal revenue curve are the typical downward-sloping straight lines. The monopoly deadweight loss equals $4,000.ANS:FDIF:3REF:15-3NAT:AnalyticLOC:MonopolyTOP:Deadweight lossMSC:Analytical30.Suppose a profit-maximizing monopolist faces a constant marginal cost of $10, produces an output level of 100 u
20、nits, and charges a price of $50. The socially efficient level of output is 200 units. Assume that the demand curve and marginal revenue curve are the typical downward-sloping straight lines. The monopoly deadweight loss equals $2,000.ANS:TDIF:3REF:15-3NAT:AnalyticLOC:MonopolyTOP:Deadweight lossMSC:
21、Analytical31.Suppose a profit-maximizing monopolist faces a constant marginal cost of $20, produces an output level of 100 units, and charges a price of $50. The socially efficient level of output is 200 units. Assume that the demand curve and marginal revenue curve are the typical downward-sloping
22、straight lines. The monopoly deadweight loss equals $1,500.ANS:TDIF:3REF:15-3NAT:AnalyticLOC:MonopolyTOP:Deadweight lossMSC:Analytical32.In order for a firm to maximize profits through price discrimination, the firm must have some market power and be able to prevent arbitrage.ANS:TDIF:2REF:15-4NAT:A
23、nalyticLOC:MonopolyTOP:Price discriminationMSC:Interpretive33.Price discrimination is prohibited by antitrust laws.ANS:FDIF:2REF:15-4NAT:AnalyticLOC:MonopolyTOP:Price discriminationMSC:Interpretive34.A monopolist earns higher profits by charging one price than by practicing price discrimination.ANS:
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