經濟學原理一第二次作業
授課教授：莊慧玲
Due Date 11/03/2005
逾期不收
姓名：
學號：
注意：請把選擇題答案寫在下面格子裡，問答題寫在背面空白處務必標清楚題號
一、問答題：40%
1. How can business firms use information about the elasticities of demand for their
products ? (20%)
2. (Using supply and demand) For each of the following, show the effects on price
and quantity. Draw the diagrams and follow the procedure.(20%)
a、 an increase in income in the market for a normal good
b、an increase in the price of a substitute
c、 an increase in the price of an input
d、an improvement in technology
二、選擇題：60% (選擇題題目請自行至老師課程網頁觀看或下載)
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1)
The law of demand implies that, other things remaining the same,
A)
as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will increase.
B)
as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will decrease.
C)
as income increases, the quantity of cheeseburgers demanded will increase.
D)
as the demand for cheeseburgers increases, the price of a cheeseburger will fall.
2)
A drop in the price of a compact disc shifts the demand curve for prerecorded tapes leftward. From
that you know compact discs and prerecorded tapes are
A)
complements.
B)
substitutes.
C)
inferior goods.
D)
normal goods.
3)
The demand for a good increases when the price of a substitute ____ and also increases when the
price of a complement ____.
A)
rises; rises
B)
rises; falls
C)
falls; rises
D)
falls; falls
4)
Which of the following would NOT shift the demand curve for turkey?
A)
An increase in income.
B)
A decrease in the price of ham.
C)
A change in tastes for turkey.
D)
A change in the price of a turkey.
5)
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
A)
demand curve for good B leftward.
B)
demand curve for good B rightward.
C)
supply curve of good B leftward.
D)
supply curve of good B rightward.
6)
An increase in technology for producing personal computers leads to
A)
an increase in the demand for personal computers.
B)
a decrease in the demand for personal computers.
C)
an increase in the supply of personal computers.
D)
a decrease in the supply of personal computers.
7)
The figure above represents the market for candy. People become more concerned that eating candy
causes them to gain weight, which they do not like. As a result, the
A)
demand curve shifts from D2 to D1 and the supply curve will not shift.
B)
demand curve shifts from D1 to D2 and the supply curve shifts from S1 to S2.
C)
demand curve shifts from D2 to D1 and the supply curve shifts from S2 to S1.
D)
demand curve will not shift, and the supply curve shifts from S1 to S2
8)
The above figure represents the market for french fries at fast food joints. If the price of potatoes rises
and simultaneously people be-come concerned that french fries can cause heart attacks
A)
the demand curve for french fries will shift from D2 to D1 and the supply curve of french fries will
not shift.
B)
the demand curve for french fries will shift from D2 to D1 and the supply curve of french fries will
shift from S2 to S1.
C)
the demand curve for french fries will shift from D2 to D1 and the supply curve of french fries will
shift from S1 to S2.
D)
the demand curve for french fries will not shift, and the supply curve of french fries will shift from S1
to S2.
9)
When the price of a good is
A)
below the equilibrium price, quantity supplied exceeds quantity demanded and price rises.
B)
below the equilibrium price, quantity demanded exceeds quantity supplied and price falls.
C)
above the equilibrium price, quantity supplied exceeds quantity demanded and price falls.
D)
above the equilibrium price, quantity demanded exceeds quantity supplied and price rises.
10) The demand for hot dogs is given by QD = 8000 – 7000P, where QD is the quantity demanded and P
is the price in dollars. The supply for hot dogs is given by QS = 4000 + 1000P, where QS is the
quantity supplied and P is the price in dollars. Given these supply and demand relationships,
A)
At the equilibrium, the price = $0.50 and the quantity = 4500 hot dogs.
B)
At a price of $1, there is a shortage of 4000 hot dogs.
C)
At a price of $1, there is a surplus of 4000 hot dogs.
D)
Both answers A and C are correct.
11) When supply decreases and demand does not change, the equilibrium quantity
A)
increases and the price rises.
B)
decreases and the price falls.
C)
increases and the price falls.
D)
decreases and the price rises.
12) If the supply of spring water decreases and at the same time the demand for spring water increases,
the equilibrium price ____ and the equilibrium quantity ____.
A)
might rise, fall, or stay the same; decreases
B)
might rise, fall, or stay the same; increases
C)
falls; increases
D)
rises; might increase, decrease, or stay the same
13) The figure above illustrates a linear demand curve. By comparing the price elasticity in the $2 to $4
price range with the elasticity in the $8 to $10 range, you can conclude that the elasticity is
A)
greater in the $8 to $10 range.
B)
greater in the $2 to $4 range.
C)
the same in both price ranges.
D)
greater in the $8 to $10 range when the price rises but greater in the $2 to $4 range when the price
falls.
14) The figure above illustrates a linear demand curve. If the price falls from $8 to $6,
A)
total revenue will increase.
B)
total revenue will decrease.
C)
total revenue will remain unchanged.
D)
the quantity demanded will increase by less than 20 percent.
15) A leftward shift of the supply curve of cookies raises the price of a cookie from 10 cents to 20 cents
and decreases the quantity demanded from 700,000 to 500,000. You can conclude that
A)
the demand for cookies is elastic.
B)
the demand for cookies is inelastic.
C)
the supply of cookies is elastic.
D)
the supply of cookies is inelastic.
16) If a rise in the price of good 1 decreases the quantity of good 2 demanded,
A)
the cross elasticity of demand is negative.
B)
the cross elasticity of demand is positive.
C)
good 1 is an inferior good.
D)
good 2 is an inferior good.
17) If goods are complements, definitely their
A)
cross elasticities are positive.
B)
income elasticities are positive.
C)
income elasticities are negative.
D)
cross elasticities are negative.
18)
In the above figure, the price elasticity of supply at any given quantity is
A)
highest along S1, next highest along S2, and lowest along S3.
B)
highest along S3, next highest along S2, and lowest along S1.
C)
equal to zero on each of the three supply curves.
D)
equal to one on each of the three supply curves.
19) If a 5 percent increase in price results in a 3 percent increase in the quantity supplied, the elasticity of
supply is
A)
0.30.
B)
0.60.
C)
1.20.
D)
1.66.
20)
An increase in Abigail’s income decreases her demand for cassette tapes. For her, cassette tapes are
A)
a normal good.
B)
an inferior good.
C)
a complement to any good.
D)
a substitute good.