《尼科尔森微经练习题》由会员分享，可在线阅读，更多相关《尼科尔森微经练习题（4页珍藏版）》请在金锄头文库上搜索。
1、Chapter 14Traditional Models of Imperfect Competition1 02.In the long run, under the quasi-competitive model, for a typical firm, price isa.above average cost but equal to marginal cost.b.above marginal cost but equal to average cost.c.above marginal cost.d.equal to marginal cost and equal to or gre
2、ater than average cost.203.In the cartel model,a.firms believe that price increases result in a very elastic demand, while pricedecreases result in an inelastic demand for their products.b.each firm acts as a price taker.c.one dominant firm takes the reactions of all other firms into account in its
3、outputand pricing decisions.d.firms coordinate their decisions to act as a multiplant monopoly.204 .Under the cartel model, each firm produces where*a.marginal cost equals marginal revenue.b.price equals marginal cost.c.the average cost curve is at a minimum.d.price exceeds marginal cost by the grea
4、test amount.205 .All of the following are problems associated with maintaining a cartel excepta.cartels are illegal.b.a large amount of information is needed to coordinate a cartel.*c.profits are not maximized by a cartel so it will evolve into amonopoly.d.each member of the cartel has an incentive
5、to“chisel ” by expoutput.206.Each firm in a cartel has an incentive to chisel because market price exceeds*a.marginal cost.b.average cost.c.average variable cost.d.average fixed cost.207.In the price leadership modela.firms believe that price increases result in a very elastic demand, while pricedec
6、reases result in an inelastic demand for their product.b.each firm acts as a price taker.* c.one dominant firm takes the reactions of all other firms intoaccount in its outputand pricing decisions.d.firms coordinate their decisions to act as multiplant monopolies.208.Under the price leadership model
7、,a.most firms act independently of the leader.b.the leader s price is always lower than the other firms prices.c.the leader s price is always higher than the other firms prices.* d.all firms adjust their prices to that chosen by the leader.209.In a Cournot equilibrium each firm chooses an output lev
8、el thata.maximizes joint profits.b.maximizes the price received.*c.maximizes profits given what the other firm produces.d.maximizes revenue given what the other firm produces.210 .Product differentiation complicates the study of oligopolies because such markets maynota.be efficient.b.have prices equ
9、al to marginal cost.c.have free entry and exit.*d.obey the law of one price.211 .A profit-maximizing firm should spend an additional dollar on advertising so long as thisexpenditure results in more than one dollar ofa.additional sales.b.reduced costs.*c.increased profits.d.demand.212 .In a contestab
10、le market, firms produce where*a.price equals marginal cost and long-run average cost.b.price equals marginal cost above long-run average cost.c.marginal cost equals marginal revenue and long-run average cost.d.marginal cost equals marginal revenue below long-run average cost.213.In a contestable ma
11、rketa.barriers to entry must exist.b.economic profits are positive.*c.entry and exit is costless.d.all firms are price takers.214. A natural monopoly in a contestable market will have a.P=MC=AC.b.P=MCAC.*c.P=ACMC.d.PAC=MC.162Membership in a product group can be measured bya.cross price elasticities of demand.b.returns to scale.c.economies of scope.d.demand income effects.In the Hotelling model of spatial competition, profits arise from a.monopoly power.b.rents based on locational advantage.c.the ability to price discriminate.d.increasing returns to scale.163215.*216.*
