1、A firm in a competitive industry takes account of the fact that the demand curve it confronts has a significant negative slope.
A、对
B、错
2、In a perfectly competitive industry, the demand curve for the total output of the industry may be downward sloping.
A、对
B、错
3、Price equals marginal cost is a sufficient condition for profit maximization
A、对
B、错
4、A profit maximizing firm continues to operate even though it is losing money. It sells its product at a price of $100. From these facts we deduce that:
A、average total cost is less than $100.
B、average fixed cost is less than $100.
C、marginal cost is increasing.
D、average variable cost is less than $100.
5、A profit maximizing dairy farm is currently producing 10,000 gallons of milk per day. The government is considering two alternative policies. One is to give the farm a lump sum subsidy of $500 per month. The other policy is to give the farm a subsidy
A、Both kinds of subsidy will increase production at this farm.
B、Neither subsidy will affect production at this farm, since output is determined by profit maximization.
C、Production at this farm will be increased if the per unit subsidy is adop
6、The cost function c(w1,w2,y) expresses the cost per unit of output of producing y units of output if equal amounts of both factors are used.
A、对
B、错
7、If it costs $10 to set up and later clean a bagel press and bagels cost $1 per week, per bagel, to store, how many times should the bagel press be run each week to produce 500 bagels a week to be sold continuously?
A、Once.
B、Twice
C、3 times.
D、4 times
8、If output is produced according to Q = 4LK, the price of K is $10, and the price of L is$10, then the cost minimizing combination of K and L capable of producing 16 units of output is
A、L = 4 and K = 1
B、L = 2 and K = 2
C、L = 1 and K = 1
D、L = 8 and K = 8
9、The average variable cost curve must always be U shaped.
A、对
B、错
10、The marginal cost curve passes through the minimum point of the average fixed cost curve.
A、对
B、错
