【題目】 Suppose there are only two firms supplying in the market and they produce a homogeneous good. Two firms produce the good with the same constant marginal cost. Firms compete by setting price simultaneously . The equilibrium price of both firms must equal to the marginal cost times the markup. be greater than the marginal cost but smaller than the marginal cost times the markup. equal to the average cost. equal to the marginal cost.
【題目】 Good A and good B are substitutes in production. The demand for good A increases so that the price of good A rises. The increase in the price of good A shifts the supply curve of good B leftward. supply curve of good B rightward. demand curve for good B leftward. demand curve for good B rightward.
【題目】 For a good that is a necessity, quantity demanded tends to respond substantially to a change in price. the law of demand often does not apply. its price elasticity equals one. demand tends to be inelastic.
【題目】 Two goods are complements if a decrease in the price of one good decreases the demand for the other good. None of above is correct the demand for the other good does not change. increases the demand for the other good.
【題目】 Suppose the price of a good rises. When will the resulting substitution effect reduce the quantity demanded of the good? Only when the good is inferior. Whenever the good is a non-Giffen good. Only when the good is normal. Always.
【題目】 If a fall in the price of good A increases the quantity demanded of good B, A and B are substitutes B is a substitute for A, but A is a complement to B A and B are complements A is a substitute for B, but B is a complement to A
【題目】 Suppose the price of a good rises. When will the resulting substitution effect reduce the quantity demanded of the good? Whenever the good is a non-Giffen good. Only when the good is inferior. Only when the good is normal. Always.
【題目】 Suppose the price of a good rises. When will the resulting substitution effect reduce the quantity demanded of the good? Only when the good is inferior. Only when the good is normal. Always. Whenever the good is a non-Giffen good.
【題目】 Suppose there are only two firms supplying in the market and they produce a homogeneous good. Two firms produce the good with the same constant marginal cost. Firms compete by setting price simultaneously . The equilibrium price of both firms must equal to the marginal cost. ---答案 equal to the average cost. equal to the marginal cost times the markup. be greater than the marginal cost but smaller than the marginal cost times the markup. 提交答案