﻿ 微观经济--ECON1001|学霸联盟

# 一站式論文代寫,英国、美国、澳洲留学生Essay代寫—FreePass代写

### Sample Final exam

a. it will be inefficient to produce 90 units of guns and 15 units of butter

b. it will be infeasible to produce 90 units of guns and 15 units of butter.

e. Both a and d are correct.

b. 0.25 and supply is perfectly elastic

c. 0.5 and supply is perfectly inelastic

d. 4 and supply is perfectly inelastic

3) Assume that demand is downward sloping and supply is upward sloping. If there is an increase in supply and a decrease in demand:

a. price will increase and quantity will increase in equilibrium

d. price will increase and quantity will decrease in equilibrium

b. a increase in the price of a complementary good

e. both b and c are correct

5) Fifi and Bumble are best mates. Fifi currently owns a honey pot that she values at \$10. Bumble values the honey pot at \$8 and has \$20 in his wallet.

a. The current allocation of the honey pot is Pareto inefficient.

b. Fifi and Bumble should be able to come to a mutually advantageous trade with respect to the honey pot.

c. Given the current allocation, it will be possible to make both Bumble and Fifi better off.

d. The current allocation of the honey pot is Pareto efficient.

e. a, b and c are all true.

6) Gordon used to work for MacSquander bank where he earned a yearly salary of \$150,000. Gordon got fired as a result of the global financial crisis and found that the skills he had were not wanted by other employers. As a result, Gordon now runs a pie shop called Gordon’s Grumble Pie. Gordon pays rent of \$100,000 per annum and spends \$50,000 per year on other inputs. He earns \$200,000 in total annual revenue. Gordon’s economic profit is

a. -\$100,000.                                b. \$0.                                                      c. \$50,000.

b. supply is price inelastic at all prices

c. supply is only elastic at prices below 20

e. none of the above.

a. Always at least as large as profit.

d. b and c only are true.

e. a, b and c are all true.

9) Consider the following two demand curves for brie (d b ) and cheddar cheese (d c ) in the diagram below (note both have the same slope)

a. 200            b. 300            c. 400           d. 500             e. 600

12) An aspect of a good in which one person’s increased consumption of it does not decrease the amount available for consumption by others is called

a. non-rivalry.      b. non-excludability.        c. rivalry.       d. excludability.         e. exclusiveness.

13) Costs to society will equal costs to a private firm when

b. the firm misallocates resources in its market.

d. no externalities occur when the firm produces its product.

e. beneficial externalities occur in the firm’s market.

a. Revenue (or total expenditure) is maximised at the middle point of a linear (straight line) demand curve.

b. When prices rise total expenditure rises when demand is elastic in the relevant range

c. Total expenditure rises when demand in inelastic in the relevant range and price falls

e. None of the above

a. A positive tax always creates a deadweight loss

b. A tax that does not raise any revenue has a zero deadweight loss.

c. In a market where the domestic no trade price is above the world price, if demand is inelastic and the law of supply holds, a tariff does not create any deadweight loss.

d. If the law of demand holds and supply if perfectly inelastic, consumers pay for all of a tax.

e. None of the above.

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