3. If the price elasticity of demand for Pepsi is 1.5, then an increase in the selling price will:
(A)increase the total revenue
(B)decrease the total revenue
(C)lead to no change in total revenue
(D)first increase and then decrease total revenue

1. In the long run a company that produces and sells popcorn incurs total costs of $1,050 when output is 90 canisters and $1,200 when output is 120 canisters. The popcorn company exhibits (A)diseconomies of scale because total cost is rising as output rises. (B)diseconomies of scale because average total cost is rising as output rises. (C)economies of scale because total cost is rising as output rises. (D)economies of scale because average total cost is falling as output rises.

2. Which of the following is NOT a characteristic of a perfectly competitive industry? (A)There are many firms. (B)There are no restrictions on entry into the market. (C)Each firm produces a slightly differentiated product. (D)Each firm takes price as given, determined by the equilibrium of industry supply and industry demand.

4. Which of the following statements is correct for a monopolist?(i) The firm maximizes profits by equating marginal revenue with marginal cost.(ii) The firm maximizes profits by equating price with marginal cost.(iii) Demand equals marginal revenue.(iv) Average revenue equals price. (A)(i), (iii), and (iv) only (B)(i) and (iv) only (C)(i), (ii), and (iv) only (D)(iii) and (iv) only

5. As the quantity produced increase (A)Average fixed cost decreases (B)Fixed cost increases (C)Variable cost decreases (D)None of the above

6. Beef is a normal good. You observe that both the equilibrium price and quantity of beef have fallen over time. Which of the following explanations would be most consistent with this observation? (A)Consumers have experienced an increase in income, and beef-production technology has improved. (B)The price of chicken has risen, and the price of steak sauce has fallen. (C)New medical evidence has been released that indicates a negative correlation between a person's beef consumption and life expectancy. (D)The demand curve for beef must be positively sloped.

7. Other things the same, if the central bank decreases the rate at which it increases the money supply, then (A)unemployment and inflation rise in the short run. (B)unemployment rises and inflation falls in the short run. (C)unemployment falls and inflation rises in the short run. (D)unemployment and inflation fall in the short run.

8. Which of the following is NOT true of firms in monopolistic competition? (A)They practice product differentiation. (B)They have excess capacity in the long run. (C)They earn a normal profit in the long run. (D)They are price takers.

9. Which of the following statements is correct? (A)If marginal cost is rising, then average total cost is rising. (B)If marginal cost is rising, then average variable cost is rising. (C)If average variable cost is rising, then marginal cost is minimized. (D)If average total cost is rising, then marginal cost is greater than average total cost.

10. For Product X, the income elasticity of demand is -2.45. Which of the following is therefore true? (A)Product X is a necessity. (B)Product X is a normal good. (C)Product X is an inferior good. (D)Product X is a luxury.

11. Refer to Table.Suppose the market for this product is served by two firms that have formed a cartel. What price will the cartel charge in this market if the marginal cost of production is $4? (A)$6 (B)$8 (C)$10 (D)$12

113年 - 113 國立成功大學_碩士班招生考試_交通管理研究所：經濟學#122751

113年 - 113 國立台灣大學_碩士班招生考試試題_土木工程研究所交通組：經濟學(C)(含工程經濟)#119247

112年 - 112 國立成功大學_碩士班招生考試試題_電信管理科學系：經濟學#119853

112年 - 112 國立成功大學_碩士班招生考試試題_交通管理科學系：經濟學#119711

112年 - 112 國立台灣大學_碩士班招生考試試題：經濟學(C)#119248

111年 - 111 國立臺灣大學_碩士班招生考試試題：經濟學 (C)#120838

110年 - 110 國立成功大學_碩士班招生考試試題_交通管理科學系、電信管理研究所：經濟學#121619

110年 - 110 國立臺灣大學_碩士班招生考試_國家發展研究所甲組:經濟學(B)#112010

110年 - 110 國立政治大學_碩士班招生考試_金融、財務管理:經濟學#110753

110年 - 110 國立中央大學_碩士班招生考試_企業管理學系/工商管理甲、乙組(一般生):經濟學#110460