黄色是正确答案，红色是原答案

29.An economy dominated by imperfect competition is characterized by

A) too much output, and low prices compared to perfect competition.
B) same amount of output, and low prices compared to perfect competition.
C) too little output, and low prices compared to perfect competition.
D) too little output, and high prices compared to perfect competition.
E) too much output, and high prices compared to perfect competition.

36.Primary factors of production are:

A) labor, land, and capital.
B) labor and capital.
C) labor and land.
D) capital and land.
E) irreplaceable inputs.

58.In a competitive market, the market clearing quantity is determined primarily by:
A) the supply of the good.
B) the cost of producing the good in question.
C) the interaction of supply and demand.
D) the decisions of the buyers as to how much they are willing to pay.
E) all of the above.

74. If the incidence of a tax per unit of output is shifted completely back onto the
producer, then:
A) demand is perfectly price elastic.
B) supply is price inelastic.
C) supply is perfectly price inelastic.
D) supply and demand are price inelastic.
E) either A) or C) could be correct.

91. Refer to Table 5-1. If good X costs $6 per unit and good Y costs $5 per unit, at
what quantities of X and Y is utility maximized if the budget is $31?
A) X = 2, Y = 3
B) X = 4, Y = 5
C) X = 3, Y = 4
D) X = 3, Y = 3
E) None of the above
把31 改成33

162.At Q = 100 in Figure 7A-5, to be producing at least cost, the ratio of (marginal
productivity of land)/(marginal productivity of labor) must be:
A) 1.
 B) 1.5.
C) 1.67.
D) 2.
E) It cannot be determined from the information given.

165. Suppose the producer in Figure 7A-1 wants to increase production of good y
from 100 to 200 in the short run. Assume MPL/MPK and input prices remain

constant. If point A represents the best possible combination of inputs for 100
units of output, which point represents the best input combination in the short
run for 200 units of output?
A) Point A
B) Point B
C) Point C
D) Point D
E) Point E
我觉得应该把MPL/MPK 去掉。

172.If the price of one factor increases, then the firm will find a new least-cost factor
combination by shifting its lowest equal-cost line along its same equal-product
curve.
A)True
B)False

182.Which of the following is not a necessary assumption for an industry to be

perfectly competitive?
A) Consumers act rationally.
B) All actors have perfect information.
C) Firms are price takers.
D) There are zero externalities.
E) All of the above are necessary.

243.A person faces a lottery which involves a 50% chance of providing an extra
$10,000 in income—a result which would increase utility by 10 utils. The
only other possibility is that the lottery might result in a loss of $100—in
which case, utility would fall by 2 utils. It is clear from the information given
that an extra $4,450, guaranteed, would increase utility by more than 4 utils.
A) True
B) False
10000*0.5-100*0.5=4950

260.A given person is risk averse through all relevant levels of income. This person,
facing the prospect of receiving an extra $5,000 with probability 0.5 and
 losing $5,000 with probability 0.5, would be willing to buy:
A) more insurance to avoid the risk than if the probabilities were 0.25 and 0.75 of
receiving the extra $5,000 and losing $5,000, respectively.
B) less insurance to avoid the risk than if the probabilities were 0.25 and 0.75 of
receiving the extra $5,000 and losing $5,000, respectively.
C) the same amount of insurance to avoid the risk as if the probabilities were 0.25
and 0.75 of receiving the extra $5,000 and losing $5,000, respectively.
D) no insurance to avoid the risk even if the probabilities were 0.25 and 0.75 of
receiving the extra $5,000 and losing $5,000, respectively.
E) up to $10,000 in insurance if the probability of loss were sufficiently high.