Principles+of+Economics,+7th+Edition+test+bank+题库+ Mankiw7e_TB_Ch14

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1、FirmsinCompetitiveMarkets3639FirmsinCompetitiveMarketsMultipleChoice–Section00:Introduction1.Afirmhasmarketpowerifitcana.maximizeprofits.b.minimizecosts.c.influencethemarketpriceofthegooditsells.d.hireasmanyworkersasitneedsattheprevailingwagerate.ANSWER:cPOINTS:1DIFFICULTY:Difficulty:EasyLEARNINGOB

2、JECTIVES:ECON.MANK.15.65-LO:14-0NATIONALSTANDARDS:UnitedStates-BUSPROG:AnalyticTOPICS:DISC:PerfectCompetitionKEYWORDS:BLOOM'S:Knowledge2.Arestaurantthathasmarketpowercana.minimizecostsmoreefficientlythanitscompetitors.b.influencethemarketpriceforthemealsitsells.c.reduceitsmarketingbudgetmorethanits

3、competitors.d.ignoreprofit-maximizingstrategieswhensettingthepriceforitsmeals.ANSWER:bPOINTS:1DIFFICULTY:Difficulty:EasyLEARNINGOBJECTIVES:ECON.MANK.15.65-LO:14-0NATIONALSTANDARDS:UnitedStates-BUSPROG:AnalyticTOPICS:DISC:PerfectCompetitionKEYWORDS:BLOOM'S:ApplicationNOTES:r©2015CengageLearning.AllR

4、ightsReserved.Maynotbescanned,copiedorduplicated,orpostedtoapubliclyaccessiblewebsite,inwholeorinpart.FirmsinCompetitiveMarkets36391.Ifyourlocalgasolinestationraiseditspriceby20percent,itssalesofgasolinewoulddecreasesubstantiallybecauseyourlocalgasstationa.haslittleornomarketpower.b.issmallrelative

5、tothesizeofthegasolinemarket.c.isacompetitivefirm.d.Alloftheabovearecorrect.ANSWER:dPOINTS:1DIFFICULTY:Difficulty:EasyLEARNINGOBJECTIVES:ECON.MANK.15.65-LO:14-0NATIONALSTANDARDS:UnitedStates-BUSPROG:AnalyticTOPICS:DISC:PerfectCompetitionKEYWORDS:BLOOM'S:Comprehension2.Theanalysisofcompetitivefirmss

6、hedslightonthedecisionsthatliebehindthea.demandcurve.b.supplycurve.c.wayfirmsmakepricingdecisionsinthenot-for-profitsectoroftheeconomy.d.wayfinancialmarketssetinterestrates.ANSWER:bPOINTS:1DIFFICULTY:Difficulty:EasyLEARNINGOBJECTIVES:ECON.MANK.15.65-LO:14-0NATIONALSTANDARDS:UnitedStates-BUSPROG:Ana

7、lyticTOPICS:DISC:PerfectCompetitionKEYWORDS:BLOOM'S:Comprehension©2015CengageLearning.AllRightsReserved.Maynotbescanned,copiedorduplicated,orpostedtoapubliclyaccessiblewebsite,inwholeorinpart.FirmsinCompeti