經濟學原理期末考試題範例 3) An indifference curve shows

A) different combinations of two goods

1) Which of the following is NOT an among which the consumer is indifferent.
assumption of marginal utility theory? B) consumption possibilities that a consumer
A) A consumer derives utility from the goods faces at different prices and income.
consumed. C) affordable combinations of goods.
B) Each additional unit of consumption D) the opportunity cost of one good relative
yields additional utility. to another.
C) Consumers maximize their total utility. Answer: A

D) As more of a good is consumed, the

decrease in the marginal utility from the
good means that the total utility from the
4) Lily is a college student who likes to buy
good decreases also.
only two goods: Cheetos and Pepsi. To
Answer: D
determine how Lily can maximize her
utility from consuming Cheetos and Pepsi,
you need to know
2) Tonya, who is rich, and Jerome, who is I. Lily’s preferences for Cheetos and
poorer, both buy orange juice and Pepsi.
croissants for lunch at the student cafeteria. II. The prices of Cheetos and Pepsi.
Their budget constraints on a diagram with III. Lily’s income.
orange juice on the vertical axis and A) I only.
croissants on the horizontal have the same B) I and II.
A) horizontal intercepts. C) II and III.
B) vertical intercepts. D) I, II and III.
C) slopes. Answer: D

D) midpoints.
Answer: C

5) The income effect for an inferior good

A) is negative.
B) is zero.
C) is positive.
D) could be negative, zero, or positive.
Answer: A

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6) In perfect competition, 9) If the marginal utility of the good changes
A) each firm can influence the price of the sharply as consumption increases, the
good. A) demand for the good is elastic.
B) there are few buyers. B) demand for the good is inelastic.
C) there are significant restrictions on entry. C) supply of the good is elastic.
D) all firms in the market sell their product at D) supply of the good is inelastic.
the same price. Answer: B

Answer: D

10) The diamond-water paradox of value can

7) Total utility is maximized when be explained by
A) the marginal utility per dollar spent is A) distinguishing between total utility and
equal for all goods. marginal utility.
B) the marginal utilities are all zero. B) water’s high level of utility relative to
C) the marginal utilities are all maximized. diamonds.
D) the marginal utilities are all negative. C) water’s low price relative to diamonds.
Answer: A D) the fact that utility cannot be measured.
Answer: A

11) All points below the budget line are

8) Teddy buys only chocolate chip cookies
A) inferior to every point on the budget line.
and hot chocolate and spends all of his
B) preferred to every point on the budget
income on the two items. Suppose that
line.
Teddy’s marginal utility per dollar spent on
C) affordable.
cookies exceeds that spent on hot chocolate.
D) unaffordable.
According to marginal utility theory, Teddy
Answer: C
can make himself better off if he buys
A) more cookies and less hot chocolate.
B) fewer cookies and more hot chocolate.
C) an equal amount of cookies and hot
chocolate.
D) only hot chocolate.
Answer: A

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 Money Price of a Price of a 14) Preferences depend on

income pizza hamburger A) income but not relative prices.

Case (dollars) (dollars) (dollars) B) relative prices but not income.

A 100 20 2 C) neither relative prices nor income.

B 50 10 5 D) both relative prices and income.

Answer: C
C 25 5 4

12) In the table above, in terms of units of

pizza, real income is
A) lower in case A than in cases B and C.
B) lower in case B than in cases A and C.
C) lower in case C than in cases A and B.
D) equal in all three cases.
Answer: D

15) The indifference curve in the above figure

A) illustrates two goods that are perfect
substitutes.
B) illustrates two goods that are perfect
complements.
C) violates assumptions about preferences.
D) None of the above statements are correct.
Answer: B
13) The figure above shows Ilene’s budget line.
The price of a can of cat food is $2. Ilene’s
income per week is
A) $10.
B) $40.
C) $56.
D) $160.
Answer: B

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 18) Technological efficiency occurs when the
firm produces a given output
A) by using the least amount of inputs.
B) by using the maximum amount of inputs.
C) at the least cost.
D) at the greatest cost.
Answer: A

Techniques that produce 100 sweaters

 Labor Capital

16) In the figure above, the marginal rate of Technique (hours) (machines)

substitution (MRS) at point A is A 10 35

A) greater than the MRS at any other point on B 25 25

the indifference curve. C 10 60

B) equals the MRS at all other points on the D 30 20

indifference curve.
C) less than the MRS at any other point on 19) Using the data in the above table, if the
the indifference curve. price of an hour of labor is $10 and the
D) equal to the slope of the budget line. price of a unit of capital is $20, then the
Answer: D most economically efficient technique for
producing 100 sweaters is
17) Explicit costs are ____ and implicit costs
A) A.
are ____.
B) B.
A) paid in money; paid in interest costs
C) C.
B) paid in money; incurred when a firm
D) D.
gives up an alternate action
Answer: D
C) not measurable; measurable
D) used to maximize profits; used to 20) A chief reason firms give employees
minimize costs bonuses based on the firm’s profit is to
Answer: B cope with
A) the tax laws.
B) the law of diminishing returns.
C) the principal-agent problem.
D) unions.
Answer: C

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 21) In the long run, a firm can vary
A) its capital but not its labor.
B) its labor but not its capital.
C) both its labor and its capital.
D) neither its labor nor its capital.
Answer: C

Total Product, Marginal Product, Average Product

Labor Total product Marginal Average
(workers per day) (units per day) product product 24) In the above figure, the average fixed cost
0 0 0 0 curve is curve
1 2 2 2 A) A.
2 8 B) B.
3 12 C) C.
4 15 D) D.
5 16 1 Answer: D

22) In the above table, the average product of

three workers is
A) 1.
B) 2.
C) 3.
D) 4.
Answer: D

23) A firm’s average total cost is $80, its fixed

cost is $1000, and its output is 100 units. Its
average variable cost
A) is less than $40.
B) is between $40 and $60.
C) is more than $60.
D) cannot be determined without more
information.
Answer: C

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25) The average total cost curves for plants A, 27) The market for fish is perfectly competitive.
B, C and D are shown in the above figure. So, the price elasticity of demand for fish
Which plant is best to use to produce 60 from a single fishery
units per day? A) is less than the elasticity of demand for
A) Plant A. fish overall.
B) Plant B. B) equals the elasticity of demand for fish
C) Plant C. overall.
D) Plant D. C) is greater than the elasticity of demand for
Answer: B fish overall.
D) is sometimes greater than and sometimes
less than the elasticity of demand for fish
overall.
Answer: C

28) When Sidney’s Sweaters, Inc. makes

exactly zero economic profit, Sidney, the
owner,
A) is taking a loss.
B) will shut down in the short run.
C) makes an income equal to his best
alternative forgone income.
26) In the above figure, the long-run average D) will boost output.
cost curve exhibits constant returns to scale Answer: C

A) between 5 and 10 units per hour.

B) between 10 and 20 units per hour.
C) between 20 and 25 units per hour.
D) along the entire curve.
Answer: B

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29) The feature of the above figure that Output Total cost
indicates that the firm is a perfectly (tons of rice per (dollars per ton)
competitive firm is the year)
A) shape of the total cost curve. 0 $1,000
B) shape of the total revenue curve. 1 $1,200
C) fact that the total cost and total revenue 2 $1,600
3 $2,200
curves are farthest apart at output is Q 2.
4 $3,000
D) fact that the total cost and total revenue
5 $4,000
curves cross twice.
31) Based on the table above which shows
Answer: B
Chip’s costs, if rice sells for $600 a ton,
Chip’s profit-maximizing output is
30) The owners definitely will shut down a A) less than one ton.
perfectly competitive firm if the price of its B) between two and three tons.
good falls below its minimum C) between three and four tons.
A) average total cost. D) between one and two tons.
B) average marginal cost. Answer: B

C) average variable cost.

D) wage rate.
Answer: C
32) In a perfectly competitive industry, the
industry supply curve is the sum of the
A) supply curves of all the individual firms.
B) average variable cost curves of all the
individual firms.
C) average total cost curves of all the
individual firms.
D) average fixed cost curves of all the
individual firms.
Answer: A

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33) In the short run, a perfectly competitive 35) If the price elasticity of demand is less than
firm can 1, a monopoly’s
A) earn an economic profit. A) total revenue increases when the firm
B) earn a normal profit. lowers its price.
C) incur an economic loss. B) total revenue decreases when the firm
D) earn an economic profit, earn a normal lowers its price.
profit, or incur an economic loss. C) marginal revenue is undefined.
Answer: D D) marginal revenue is zero.
Answer: B

36) The unregulated, single-price monopoly

shown in the figure above will produce
34) In the above figure, if the price is P1, the
where its demand
firm will produce A) equals its MC curve.
A) nothing. B) equals its ATC curve.
B) where MC equals ATC. C) is inelastic.
D) is elastic.
C) where MC equals P1.
Answer: D

D) where ATC equals P1.

Answer: C

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 38) If the monopoly illustrated in the figure
above could engage in perfect price
discrimination, then total revenue collected
by the firm would be
A) $110.
B) $120.
C) $210.
D) $310.
Answer: C

39) Which of the following statements

regarding average-cost pricing rule is
37) The unregulated, single-price monopolist
incorrect?
illustrated in the figure above has a total
A) It sets price equal to average total cost.
revenue of
B) It is efficient.
A) $8.00 per day.
C) The firm earns a normal profit.
B) $16.00 per day.
D) More output is produced than if the firm
C) $36.00 per day.
maximized profit.
D) $40.00 per day.
Answer: B
Answer: D