超星 - 第六章章节测试英文

单选题

A price taker is

A. a firm that accepts different prices from different customers.
B. a consumer who accepts different prices from different firms.
C. a perfectly competitive firm.
D. a firm that cannot influence the market price.
E. both C and D

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单选题

Which of following is a key assumption of a perfectly competitive market?

A. Firms can influence market price.
B. Commodities have few sellers.
C. It is difficult for new sellers to enter the market.
D. Each seller has a very small share of the market.
E. none of the above

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单选题

A few sellers may behave as if they operate in a perfectly competitive market if the market demand is:

A. highly inelastic.
B. very elastic.
C. unitary elastic.
D. composed of many small buyers.

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单选题

Use the following statements to answer this question:I. Markets may be highly (but not perfectly) competitive even if there are a few sellers.II. There is no simple indicator that tells us when markets are highly competitive.

A. I and II are true
B. I is true and II is false
C. I is false and II is true
D. I and II are false

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单选题

If managers do not choose to maximize profit, but pursue some other goal such as revenue maximization or growth,

A. they are more likely to become takeover targets of profit-maximizing firms.
B. they are less likely to be replaced by stockholders.
C. they are less likely to be replaced by the board of directors.
D. they are more likely to have higher profit than if they had pursued that policy explicitly.
E. their companies are more likely to survive in the long run.

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单选题

The "perfect information" assumption of perfect competition includes all of the following except one. Which one?

A. Consumers know their preferences.
B. Consumers know their income levels.
Consumers know the prices available.
D. Consumers can anticipate price changes.
E. Firms know their costs, prices and technology.

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单选题

Revenue is equal to

A. price times quantity.
B. price times quantity minus total cost.
C. price times quantity minus average cost.
D. price times quantity minus marginal cost.
E. expenditure on production of output.

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单选题

Marginal revenue, graphically, is

A. the slope of a line from the origin to a point on the total revenue curve.
B. the slope of a line from the origin to the end of the total revenue curve.
C. the slope of the total revenue curve at a given point.
D. the vertical intercept of a line tangent to the total revenue curve at a given point.
E. the horizontal intercept of a line tangent to the total revenue curve at a given point.

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单选题

A firm maximizes profit by operating at the level of output where

A. average revenue equals average cost.
B. average revenue equals average variable cost.
C. total costs are minimized.
D. marginal revenue equals marginal cost.
E. marginal revenue exceeds marginal cost by the greatest amount.

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单选题

Marginal profit is equal to

A. marginal revenue minus marginal cost.
B. marginal revenue plus marginal cost.
C. marginal cost minus marginal revenue.
D. marginal revenue times marginal cost.
E. marginal revenue divided by marginal cost.

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