AP微观经济学市场结构部分20道精华题目（傅莹老师）
Questions 1-2 refer to the graph below
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1. If the firm produces 10 units of output, its economic profits will equal (2012,第8题，AP微观, Answer: B)
(A) 0
(B) $50
(C) $100
(D) $150
(E) $200
2. Which of the following is most likely to occur if the firm increases production beyond 10 units? (2012,第9题，AP微观, Answer: C)
(A) Consumers would be willing to purchase more than 10 units at the price of $20 per unit
(B) The firm would definitely experience a loss.
(C) The firm would have to lower its price to sell more than 10 units.
(D) The firm’s average cost of production would initially increase.
(E) The firm’s profits would increase.
3. Which of the following statements about a constant-cost perfectly competitive industry in long-run equilibrium must be true? . (2012,第10题，AP微观, Answer: A)
(A) An increase in demand will cause no change in the long-run equilibrium price.
(B) An increase in demand will cause no change in the long-run equilibrium quantity.
(C) The long-run supply curve is upward sloping.
(D) The long-run supply curve is perfectly inelastic.
(E) The total cost of production remains the same as output increases.
4. In which of the following market structures do firms recognize their mutual interdependence? (2012,第11题，AP微观, Answer: A)
(A) Oligopoly
(B) Monopoly
(C) Perfect competition
(D) Unregulated natural monopoly
(E) Monopsony
5. Assume that a profit-maximizing firm is perfectly competitive in both the output and the factor Markets and is at its long-run equilibrium. The firm’s output is 100 units, its total revenue is $600.00, and the fixed cost of production is $50.00. Based on this information, which of the following is true for the firm? (2012,第12题，AP微观, Answer: E)
(A) Its marginal cost is $5.50, and its average total cost is $5.50.
(B) Its marginal cost is $5.50, and its average variable cost is $5.50.
(C) Its marginal cost is $6.00, and its average total cost is $5.50.
(D) Its marginal cost is $6.00, and its average fixed cost is $5.50.
(E) Its marginal cost is $6.00, and its average variable cost is $5.50.
6. Within the range of market demand, which of the following is consistent with the conditions? of a natural monopoly? (2012, 第21题，AP微观, Answer: C)
(A) Long-run total cost decreases as output increases.
(B) Long-run average total cost remains constant as output increases.
(C) Long-run average total cost decreases as output increases.
(D) Marginal cost exceeds average cost.
(E) Setting price equal to marginal cost will maximize profits.
7. A constant-cost, perfectly competitive gadget industry is in long-run equilibrium. An increase in the number of consumers of gadgets will most likely result in (2012,第23题，AP微观, Answer: D)
(A) higher short-run and long-run prices for gadgets
(B) reduced short-run profits, followed by the exit of some firms
(C) an upward shift in all short-run cost curves, followed by a higher long-run price for gadgets
(D) a higher short-run price for gadgets, followed by an increase in the quantity produced
(E) a decrease in the demand for gadgets, followed by a decrease in the supply of gadgets
8. The profit-maximizing firm depicted in the graph above should (2012,第24题，AP微观, Answer: A)
(A) exit if conditions do not improve in the long run
(B) produce the output that minimizes average total cost
(C) increase price to maximize profits
(D) increase output to maximize profits
(E) use less capital and more labor to reduce cost
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9. The graph above shows the short-run cost curves of a firm in a perfectly competitive market. Which of the following are true at the firm’s profit maximizing output level? (2012,第38题， AP微观, Answer: C)
I. Price exceeds average total cost.
II. Economic profits are zero.
III. Marginal cost equals average total cost.
IV. New firms are likely to enter the market in the long run.
(A) I and II only
(B) I and III only
(C) I and IV only
(D) II, III, and IV only
(E) I, II, III, and IV
10. Which of the following best describes an oligopolistic market? (2012,第39题， AP微观, Answer: C)
(A) Many sellers with identical products and no barriers to entry
(B) Many sellers, each with a clearly differentiated product, and no barriers to Entry
(C) A few competing sellers with similar products and high barriers to entry
(D) A few competing sellers of identical products and no barriers to entry
(E) No competition among sellers and high barriers to entry
11. The payoff matrix below shows the per-unit profits associated with the production strategies of two utility companies, UA and UB. Each firm has two choices: to reduce production by 10 percent or by 20 percent. The first entry in each cell indicates the profits to UA, and the second, the profits to UB. (2012,第39题， AP微观, Answer: B)
Based on the information, and assuming no cooperation, which of the following statements is true?
(A) Neither company has a dominant strategy.
(B) Both companies have an incentive to reduce production by 10%.
(C) Both companies have an incentive to reduce production by 20%.
(D) Only UA has an incentive to reduce production by 20%.
(E) Only UB has an incentive to reduce production by 20%.
12. In order to minimize short-run losses, a profit maximizing firm will necessarily shut down production under which of the following conditions? (2012,第41题， AP微观, Answer: D)
(A) Total revenue is less than total cost.
(B) Marginal cost is greater than average total cost.
(C) Marginal cost is less than marginal revenue.
(D) Average revenue is less than average variable cost.
(E) Average revenue is less than average total cost.
13. Most economists argue that a monopoly is inefficient because it (2012,第44题，AP微观, Answer: B)
(A) has no incentive to minimize its costs
(B) produces too little output and sets a price above marginal cost
(C) earns too much profit by charging consumers any price it wants
(D) produces too much output and thus wastes scarce resources
(E) usually produces unsafe products if not regulated by government
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14. The graph above shows the total revenue and total cost curves for a firm in which type of market structure and what is the profit-maximizing quantity? (2012,第52题， AP微观, Answer: D)
Market Structure Quantity
(A) Monopoly Q2
(B) Monopoly Q3
(C) Perfect Competition Q1
(D) Perfect Competition Q3
(E) Perfect Competition Q4
15. A monopolistically competitive firm advertises in order to (2012,第57题， AP微观, Answer: B)
(A) shift the demand curve for its product to the left
(B) make the demand for its product less price elastic
(C) make its product more similar to its competitors’
(D) increase its positive externalities
(E) reduce the industry’s barriers to entry
16. Instead of being employed at a printing company at a salary of $25,000 per year, Sally starts her own printing firm. Rather than renting a building that she owns to someone else for $10,000 per year, she uses it as the location for her company. Her costs for workers, materials, advertising, and energy during her first year are $125,000. If the total revenue from her printing company is $155,000, her total economic profit is (2012,第28题，AP微观, Answer: A)
(A) -$5,000
(B) $5,000
(C) $20,000
(D) $30,000
(E) $120,000
17. The use of game theory to explain strategic behavior among firms is most associated with which of the following market structures? (2013, 第9题，AP微观. Answer:C)
(A) Perfect competition
(B) Monopolistic competition
(C) Oligopoly
(D) Monopoly
(E) Monopsony
18. All of the following are essential characteristics of a perfectly competitive industry EXCEPT: (2013, 第10题，AP微观. Answer:D)
(A) All products produced by the firms in the industry are homogeneous.
(B) All firms in the industry are price takers.
(C) All consumers and firms are completely aware of the prices at which transactions take place in the
industry.
(D) There are barriers to entry into and exit from the industry.
(E) Price is equal to marginal revenue for every firm in the industry.
19. Which of the following indicates that a perfectly competitive firm is in long-run equilibrium? (2013, 第13题，AP微观. Answer:C)
(A) Price equals marginal cost.
(B) Price equals average revenue.
(C) Price equals marginal cost, which equals average total cost.
(D) Price equals average revenue, which equals marginal revenue.
(E) Price equals average fixed cost.
20. If a perfectly competitive firm is producing where marginal cost is rising and greater than marginal revenue, to maximize profits it should (2013, 第16题，AP微观. Answer:B)
(A) increase the level of production
(B) decrease the level of production
(C) maintain current level of production
(D) increase price
(E) decrease price
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