Levi’s jeans sell for $100 a pair. Suppose at the profit maximizing quantity, Levi’s average total cost was $110 and Average variable cost was $55, which statement is true? ans: Levi’s will produce in the short run but go out of business in the long run What kind of virus is typically hidden in MS word file? ans marco Good A and good B are substitutes in production. The demand for good A increases so that the price of good A rises. The increase in the price of good A shifts the ans: supply curve of good B leftward. In the short run the magnitude of the own price elasticity of demand for ice cream ans: is lower than in the long run. The expansion of capital that can occur in the long-run but not in the short-run, means that the long-run supply is ans: more elastic than the short-run supply curve. Suppose the demand for gourmet coffee can be represented by a linear demand curve. When income rises cause the demand curve for gourmet coffee shift to the right parallelly: ans: becomes less elastic at the price that prevailed before the change in income You are an economist for the Taipei City Subway Commission. Presently, the price of a subway ride is $80, and 250,000 seats are filled weekly. The income elasticity of demand is -0.60. If a recession lowered area incomes by 5％, how many additional seats per week would the subway need? ans: 7,500 seats The most fundamentaleconomic problem is ans: Scarcity Consumer surplus is: ans: the difference between the price one is willing to pay and the price one has to pay If cigarettes and marijuana had been found to be substitutes, a tax placed on cigarettes would ans: increase the demand for marijuana If the price of the Walkman is below the equilibrium price, there will be a _______ of Walkmans and the price will _______. ans: shortage; rise A profit-maximizing firm in a competitive market is able to sell its product for $7. At its current level of output, the firm’s average total cost is $10. The firm’s marginal cost curve crosses its marginal revenue curve at an output level of 9 units. The firm experiences a ans: loss of exactly $27. If cigarettes and marijuana had been found to be substitutes, a tax placed on cigarettes would ans: increase the demand for marijuana. A profit-maximizing firm in a competitive market is able to sell its product for $7. At its current level of output, the firm’s average total cost is $10. The firm’s marginal cost curve crosses its marginal revenue curve at an output level of 9 units. The firm experiences a ans: loss of exactly $27. The figure shows the market for books before and after a sales tax is introduced. The tax on books is ____ a book, buyers pay ____ of tax per book, and the governments tax revenue is ____. ans: $1.20; $0.80; $12 Which of the following statements is true? Oligopolists : ans: all of the above. The most fundamentaleconomic problem is ans: scarcity Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4, for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1. What is the value of Nick's consumer surplus? ans: 3 -0 Raisin bran and milk are complementary goods. A decrease in the price of raisins will ans: ncrease consumer surplus in the market for raisin bran and increase producer surplus in the market for milk Raisin bran and milk are complementary goods. A decrease in the price of raisins will ans: increase consumer surplus in the market for raisin bran and increase producer surplus in the market for milk Levi’s jeans sell for $100 a pair. Suppose at the profit maximizing quantity, Levi’s average total cost was $110 and Average variable cost was $55, which statement is true? ans: Levi’s will produce in the short run but go out of business in the long run Raisin bran and milk are complementary goods. A decrease in the price of raisins will ans: increase consumer surplus in the market for raisin bran and increase producer surplus in the market for milk In the short run the magnitude of the own price elasticity of demand for ice cream: ans: is lower than in the long run. Crude oil can be refined into home heating oil or gasoline. If very cold weather caused the price of home heating oil to increase, then ans: the equilibrium price of gasoline would rise. In long-run equilibrium of a competitive market, the number of firms in the markets adjusts so that all of the market demand is satisfied at a price equal to ans: minimum average total cost A competitive firm will tend to expand its output so long as: ans: Marginal revenues is greater than marginal cost. For a good that is a necessity ans: demand tends to be inelastic If resources are used efficiently, then ____. ans: consumer surplus plus producer surplus is maximized If a fall in the price of good A increases the quantity demanded of good B, ans: A and B are complements If cigarettes and marijuana had been found to be substitutes, a tax placed on cigarettes would ans: increase the demand for marijuana. The statement “An increase in the price of gasoline will lead to a decrease in the amount purchases” is ans: a positive statement. Which of the following is the amount a person would invest now to receive a greater amount in the future? ans: Present value Which of the following is the amount a person would invest now to receive a greater amount in the future? ans: Present value If resources are used efficiently, then _____. ans: consumer surplus plus producer surplus is maximized Which of the following acronyms refers to ports on laptop computer that accept small cards that server as expansion boards? ans: PCMCIA Suppose the demand for gourmet coffee can be represented by a linear demand curve. When income rises cause the demand curve for gourmet coffee shift to the right parallelly: ans: becomes less elastic at the price that prevailed before the change in income The figure shows the market for books before and after a sales tax is introduced. The tax on books is ____ a book, buyers pay ____ of tax per book, and the governments tax revenue is ____. ans: 1.20; $0.80; $12 Producer surplus is the : ans: difference between revenue and variable cost of production. Which of the following would be most likely to cause the demand for cheese to shift from D0 to D1? ans: an increase in income, assuming cheese is a normal good Producer surplus is the : ans: difference between revenue and variable cost of production. The demand for Chocolate Chip Cookie ice cream is likely quite elastic because ans: other flavors of ice cream are good substitutes for this particular flavor. Which of the following factors would not cause the demand curve for a given product to shift? ans: Changes in price. Suppose A, B and C are three points on a linear demand as in the figure below. The comparison of price elasticities is ans: A B C The kinked demand curve model assumes that a firm's rivals will ans: follow the firm's price decreases but not its price increases Suppose the price of a good rises. When will the resulting substitution effect reduce the quantity demanded of the good? ans: Always. Economic scarcity arises from ans: limited resources and limitless wants The owner of a local hot dog stand has estimated that if he lowers the price of hot dogs from $2.00 to $1.50, he will increase sales from 400 to 500 hot dogs per day. Using the midpoint formula, the demand for hot dogs is ans: inelastic. Under which of the following conditions would the interdiction of illegal drugs result in a decrease in the quantity of drugs sold and in a decrease in total spending on illegal drugs by drug users? ans: The price elasticity of demand for illegal drugs is 1.3. Producer surplus is the : ans: difference between revenue and variable cost of production A short piece of information used to authenticate a message is commonly referred to as ans: MAC Two goods are complements if a decrease in the price of one good ans: increases the demand for the other good If price exceeds average costs under pure competition, in the long run ,______ firms will enter the industry, supply will ______, and price will be driven ______. ans: more; increase; down For a good that is a necessity ans: demand tends to be inelastic A short piece of information used to authenticate a message is commonly referred to as ans: MAC The kinked demand curve model was developed to help explain ans: rigidities in prices in oligopolistic industries When demand increases and supply decreases, the ans: equilibrium price rises, and the equilibrium quantity might increase, decrease, or remain constant. Raisin bran and milk are complementary goods. A decrease in the price of raisins will ans: increase consumer surplus in the market for raisin bran and increase producer surplus in the market for milk A simple linear demand function may be stated as Q= a-bP+cI where Q is quantity demanded , P is the product price, and I is consumer income. To compute an appropriate value for c, we can use observed values for Q and I and then set the estimated income elasticity of demand equal to. ans: c(I/Q) The figure shows the market for books before and after a sales tax is introduced. The tax on books is ____ a book, buyers pay ____ of tax per book, and the governments tax revenue is ____. ans: $1.20; $0.80; $12 「微管仲，吾其被髮左衽矣。」的「微」字字義與下列何者相同？ ans: 「微」夫人之力，不及此 What kind of virus is typically hidden in MS word file? ans: marco For a good that is a necessity, ans: demand tends to be inelastic. If resources are used efficiently, then ans: consumer surplus plus producer surplus is maximized What kind of virus is typically hidden in MS word file? ans: marco Which paradigm most accurately describes BASIC? ans: Imperative or procedural If the quantity demanded increase as peoples incomes increase, the result of ans: a normal good If the market price is higher than the equilibrium price. ans: a surplus exists and the market price will fall until it equals the equilibrium price and the surplus is eliminated A freeze that destroys half of the water lily crop in Tainan would likely raise the price of water lily ans: reducing the quantity demanded for water lily andincreasing the demand for tea Which of the following is an imperative programming language? ans: Ada Suppose that the price of eggs increases from 75 cents to $1.00 per dozen and as a result a typical farmer experiences a decrease in egg sales from 300 to 200 dozen per week. Using the method of average values, the price elasticity of demand is ans: 1.4 Which of the following statement is normative？ ans: Higher taxes are needed to support education. Suppose the demand and supply functions for a certain goods are given by: QD=10-P QS=P-4 Find the total economic surplus generated at the market equilibrium ans: 9.0 Which of the following system is used to manage information about customers, interact with customers, and to improve a company's relationship with its customers? ans: CRM The prisoners’ dilemma is a simple game in which ans: both parties are made worse off by following their own self-interests Each standard library has a corresponding: ans: Header file If a price increase of 5 percent increases the quantity demanded of another good by 2 percent, the goods must be and the cross elasticity of demand equals ans: substitutes 0.4 Converting from type ____ to type ____ will result in the loss of data ans: int, char Converting from type ____ to type ____ will result in the loss of data. ans: int, char The price elasticity of demand for cigarettes is 0.4. If government wants to reduce smoking by 10 percent, by how much should it raise the price of cigarettes by imposing a tax? ans: by 25 percent If a good is produced using inputs for which there are no substitutes, the good's ans: elasticity of supply is likely to be small For implicit function 2xy+ex+y -2=0 dy/dx (0,ln2)=? ans: -1 - ln2 Assume that we have a demand curve of the form.log(Q)=a-b×log(P)+c×log(I), where Q=quantity, P=price, I=income, and a, b, and c are positive constants. The income and price elasticities for the demand curve represented above are always ans: constant. Let a=∫1 0 x5(1-x3)1/3 dx，then ans: 0 A 1 Crude oil can be refined into home heating oil or gasoline. If very cold weather caused the price of home heating oil to increase, then ans: the equilibrium price of gasoline would rise. A multitasking operating system developed in the early 1970s at Bell Laboratories: ans: UNIX Let A = J e1(1nx)2 dx ， then ans: 0 A 1 A decrease in the supply ans: raises its equilibrium price and decreases its equilibrium quantity. CDC character set contains 64 characters, To represent any possible 10 character string needs at least ans: 60 bits The supply curve for a good or service shows the sellers’ ans: minimum acceptable price. The fallacy of composition is evident in which of the following statements? ans: If each farmer works harder all farmers will be richer. Suppose the price elasticity of demand for oil is 0.1. price elasticity of supply for oil is 0. In order to lower the price of oil by 20 percent, the quantity of oil supplied must be increased by ans: 2 percent. The demand for a product tends to be inelastic if. ans: a small proportion of consumer's income is spent on the good Let A be the area between the curves y = sin x and y = sin 2x from x = 0 to x = π 。then ans: 2 A 3 Suppose the price elasticity of demand for tickets of Taiwan High Speed Railway (THSR) is 1.5.Ceteris paribus, when THSR reduces its prices, its revenue ans: will go up. When marginal profit equals zero. ans: profit is maximized. for the function f(X)=3√x(x-7)² which of the following statements are true ? ans: f (7) = 0 is a relative minimum (In C) int x=1; if (x=2) x=3; the value of x is ans: 3 Crude oil can be refined into home heating oil or gasoline. If very cold weather caused the price of home heating oil to i ans: the equilibrium price of gasoline would rise 「Last October, due to an early frost, the price for a pumpkin increased by 10 percent.As a result, the quantity demanded decreased from 2 million to 1.5 million.」 Based on this statement, the ans: demand for pumpkins is elastic. Bonds that have an option exercisable by the issuer to retire them at a stated dollar amount prior to maturity are known as: ans: Callable bonds. (甲)子夏問曰：「『巧笑倩兮，美目盼兮，素以為絢兮。』何謂也？」子曰：「繪事後素。」曰：「禮後乎？」子曰：「起予者商也！始可與言《詩》已矣。」(乙)子夏曰：「日知其 所亡，月無忘其所能，可謂好學也已矣。」根據這兩段引文，子夏應列在孔門四科中的哪一科 ans: 文學 Apples and oranges are substitute goods. A freeze in Florida destroyed a good portion of the orange crop. Ceteris paribus, the price of ans: A.both apples and oranges will rise. A firm in pure competition would shut down when ans: price is less than average variable cost. The kinked demand curve model was developed to help explain. ans: rigidities in prices in oligopolistic industries.
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