经济学题库及答案 (19).pdf

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1、Economics,11e,GlobalEdition(Parkin)Part2Review1HowMarketsWork1)Gadgets,Inc.canincreaseitstotalrevenuebyraisingthepriceofitsproduct.FromthisresultwecanconcludethattheA)priceincreaseincreasesdemandforthefirm'sproduct.B)firmsellsaninferiorgood.C)demandforthefirm'sproducti

2、spriceinelastic.D)demandforthefirm'sproductispriceelastic.Answer:CTopic:TotalRevenueandElasticitySkill:ConceptualStatus:Previousedition,PartReview2AACSB:ReflectiveThinking2)Widgets,Inc.canincreaseitstotalrevenuebyloweringthepriceofitsproduct.Fromthisresultwecanconclude

3、thattheA)decreaseinpriceincreasesdemandforthefirm'sproduct.B)firmsellsaninferiorgood.C)demandforthefirm'sproductispriceinelastic.D)demandforthefirm'sproductispriceelastic.Answer:DTopic:TotalRevenueandElasticitySkill:ConceptualStatus:Previousedition,PartReview2AACSB:Ref

4、lectiveThinking3)IfOPECcutsoilproductiontoincreasetheirtotalrevenue,weknowthatA)thedemandforgasolinewilldecrease.B)thepriceofgasolinewillfall.C)thedemandforoilintheglobalmarketisinelastic.D)OPECfacesahorizontaldemandforoilcurve.Answer:CTopic:TotalRevenueandElasticitySk

5、ill:ConceptualStatus:Previousedition,PartReview2AACSB:ReflectiveThinking14)IfOPECcutsoilproductiontoincreasetheirtotalrevenue,weknowthattheA)demandforgasolinewilldecrease.B)priceofgasolinewillrise.C)demandforoilintheglobalmarketiselastic.D)supplyofgasolinewillincrease.

6、Answer:BTopic:TotalRevenueandElasticitySkill:ConceptualStatus:Previousedition,PartReview2AACSB:ReflectiveThinking5)IfOPECcutsoilproductiontoincreasetheirtotalrevenue,weknowthattheA)demandforgasolinewilldecrease.B)priceofgasolinewillfall.C)demandforoilintheglobalmarketi

7、selastic.D)supplyofgasolinewilldecrease.Answer:DTopic:ChangeinSupplySkill:ConceptualStatus:Previousedition,PartReview2AACSB:ReflectiveThinking26)Thefigureaboveshowsthemarketfordigitalcameras.Ifthepriceoffilmcamerasfalls,theefficientquantityofdigitalcameraswillbe_______

8、_thousandcamerasandthemarginalcostofadigitalcamerawillbe________.A)lessthan300;lessthan$300B)greaterthan300;lessthan$