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中级微观经济学
中级微观经济学
1.
According to the First Theorem of Welfare Economics:
2.
A small economy has only two consumers, Ben and Penelope.Ben's utility function is U(x; y) = x + 84y1/2 .Penelope's utility function is U(x; y) = x + 7y.AtaPareto optimal allocation in which both individuals consume some of each good, how much y d
3.
One of the problems with the Clarke tax mechanism is that when it is used, people have an incentive to lie about their preferences.。
4.
If a pure public good is provided by voluntary contributions, economic theory predicts that in general too little will be supplieD.。
5.
To say that preferences are single peaked means that everybody either prefers more public goods to less or everybody prefers less public goods to more.。
6.
Ronald Coase’s insight is that most externality problems are due to an inadequate specification of property rights.。
7.
An economic situation involves a production externality if one firm’s production possibility is affected by the choices of the other firms not the consumers’.。
8.
An externality is a cost or a benefit imposed upon someone by actions taken by others.。
9.
In a Edgeworth box there are lot of ;allocations that are Pareto-optimal.。
10.
An allocation of the endowment that improves the welfare of all consumer is a Pareto-improving allocation.。
11.
In Nash equilibrium, each player is making an optimal choice for herself, given the choices of the other players。
12.
A general has the two possible pure strategies, sending all of his troops by land or all of his troops by sea.An example of a mixed strategy is where he sends 1=4 of his troops by land and 3=4 of his troops by sea.。
13.
In the prisoners' dilemma game, if each prisoner believed that the other prisoner would deny the crime, then both would deny the crime.。
14.
In a Nash equilibrium, everyone must be playing a dominant strategy。
15.
A situation where everyone is playing a dominant strategy must be a Nash equilibrium.。
16.
A famous Big Ten football coach had only two strategies.Run the ball to the left side
17.
Monopoly always has constant elasticity demanD.。
18.
In the Bertrand model of duopoly, each firm sets its price, believing that the other's price will not change.When both firms have identical production functions and produce with constant returns to scale, the Bertrand equilibrium price is equal to mar
19.
In the Cournot model, each firm chooses its actions on the assumption that its rivals will react by changing their quantities in suchaway as to maximize their own profits.。
20.
A Stackelberg leader will necessarily make at least as much profit as he would if he acted as a Cournot oligopolist.。
21.
duopoly in which two identical firms are engaged in Bertrand competition will not distort prices from their competitive levels.。
22.
North Bend currently has one McDonald';s fast food franchise.Demand for hamburgers in North Bend is given by Q = 200 Q hamburgers.If a second McDonald';s franchise were to move into North Bend(and both behave as duopolists), the profit of the orig
23.
A competitive firm has a continuous marginal cost curve.It finds that as output increases, its marginal cost curve first rises, then falls, then rises again.If it wants to maximize profits, the firm should never produce at a positive output where price eq
24.
A firm produces one output, using one input, with the production function f(x) = 2x1/3;where x is the amount of input.The cost function for this firm is proportional to the price of the input times the cube of the amount of output.。
25.
If an upstream monopolist sells to a downstream monopolist, the price to consumers will be higher than the competitive price, but not so high as it would be if the downstream monopolist took control of the upstream monopolist's business and ran both t
26.
If a labor market is dominated by a monopolist, it is possible that the imposition of a minimum wage law could INCREASE the amount of employment in that market.。
27.
If a monopolist faces a competitive labor market, it will hire labor up to the point where the price of output times the marginal product of labor equals the wage rate。
28.
For a monopsonist, the more elastic the supply of labor, the greater the difference between the marginal cost of labor and the wage rate.。
29.
A coal producer has a monopoly on coal.A different monopoly controls the railroad that takes the coal to market.Each monopolist chooses prices to maximize its profits.If the coal monopolist buys the railroad then it will increase its profits by raising t
30.
If a monopsonist pays the wage rate w; then the amount of labor that he can hire is L(w) = Aw, where A is a positive constant.The marginal cost of labor to the monopsonist is:
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