资源描述：
《2013 Midterm Exam 中级微观经济学考卷.doc》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。
1、MidtermExamIntermediateMicroeconomicsMay24,2013Youhave1hourand40minutestosolvetheexamset.Thewholeexamsetisworth100points:(1)Noticehowmanypointseachquestionisworthandallocateyourtimeappropriately.(2)Togetfullcreditonanswers,youmustbeclearandrigorous:Defineyourva
2、riables,thoroughlylabelanygraph,andinterpretyourgraphormathinwords.I.True-False(2pointseach)1.Iftherearetwogoodsandthepricesofbothgoodsrise,thenthebudgetlinemustbecomessteeper.2.Ifpreferencesaretransitive,moreisalwayspreferredtoless.3.Withquasilinearpreferences
3、,theslopeofindifferencecurvesisconstantalongallraysthroughtheorigin.4.Charlie'sutilityfunctionis.Hismarginalrateofsubstitutionbetweenxandydoesnotchangeifyoudoubletheamountofbothgoods.5.Itispossibletohavedecreasingmarginalproductsforallinputs,andyethaveincreasin
4、greturnstoscale.6.Ifagoodisaninferiorgood,thenanincreaseinitspricewillincreasethedemandforit.7.Withquasilinearpreferences,theequivalentvariationandthecompensatingvariationinincomeduetoataxarethesame.8.Otherthingsbeingequal,alumpsumtaxisatleastasgoodforaconsumer
5、asaquantitysalestaxthatcollectsthesamerevenuefromhim.9.IftheaveragecostcurveisUshaped,thenthemarginalcostcurvemustcrosstheaveragecostcurveatthebottomoftheU.10.Ifconsumersspendalloftheirincome,itisimpossibleforallgoodstobeinferiorgoods.11.Ifsomeonehastheutilityf
6、unctionU=1000+2min{x,y}thenxandyareperfectcomplementsforthatperson.12.MichaelhastheutilityfunctionU(x;y)=max{x,y}.Michael’spreferencesareconvex.13.Ifthedemandcurveisadownward-slopingstraightline,thenthepriceelasticityofdemandisconstantallalongthedemandcurve.14.
7、Ifthemarginalproductofeachfactordecreasesastheamountofthatfactorusedincreases,thentheremustbedecreasingreturnstoscale.15.Afirmfacescompetitivemarketsbothforitsinputsanditsoutputs.Ifitssupplycurveisq=3p,thenitcannothaveconstantreturnstoscale.3II.MultipleChoice(5
8、pointseach)1.Bobconsumesgoodsxandy.Herindifferencecurvesaredescribedbytheformulay=k/(x+7).Highervaluesofkcorrespondtobetterindifferencecurves.Whichofthefollowingistrue?(a)Bo
