答案和详解如下：
Q6. If the market demand for a product increases in a competitive market, then price:
A) will increase and quantity will decrease.
B) and quantity will increase.
C) will decrease and quantity will increase.
Correct answer is B)
If the market demand for a product increases in a competitive market, then the equilibrium price and equilibrium quantity supplied will increase.
Q7. Which of the following is most likely the long-term adjustment in a perfectly competitive industry that is characterized by firms incurring economic losses?
A) Some existing firms will exit the market.
B) Equilibrium price will decrease.
C) The industry supply curve will shift downward and to the right.
Correct answer is A)
Some of the existing firms will exit the market, leading to a decrease in industry supply and an increase in equilibrium price. Eventually, the remaining firms in the industry will increase output at the higher market price until economic profit equals zero.
Q8. The short-run supply curve for a purely competitive market:
A) is a horizontal line.
B) slopes downward to the right.
C) slopes upward to the right.
Correct answer is C)
The short-run supply curve for a purely competitive market slopes upward to the right. This reflects the fact that firms in the industry will produce more when the price rises.
Q9. For a perfectly competitive firm in the short-run, what will be the effect of an increase in market demand on equilibrium price and quantity, respectively?
A) Decrease; increase.
B) Increase; increase.
C) Increase; decrease.
Correct answer is B)
In the short run, an increase in market demand (a shift to the right) will increase both equilibrium price and quantity.
Q10. The fact that firms can make more adjustments to production methods in the long run gives the firm:
A) a long-run supply curve that is more elastic than its short-run supply curve.
B) the ability to quickly adjust output.
C) a long-run supply curve that is steeper than its short-run supply curve.
Correct answer is A)
Firms can adjust the fixed nature of their production costs in the long run through the purchase or sale of fixed assets. Therefore, it costs less to adjust output slowly in response to a change in demand. In the long run, there will be a greater change in the quantity supplied for a given change in price. This is because in the long run firms can change their production capacity.
Q6. If the market demand for a product increases in a competitive market, then price:
A) will increase and quantity will decrease.
B) and quantity will increase.
C) will decrease and quantity will increase.
Q7. Which of the following is most likely the long-term adjustment in a perfectly competitive industry that is characterized by firms incurring economic losses?
A) Some existing firms will exit the market.
B) Equilibrium price will decrease.
C) The industry supply curve will shift downward and to the right.
Q8. The short-run supply curve for a purely competitive market:
A) is a horizontal line.
B) slopes downward to the right.
C) slopes upward to the right.
Q9. For a perfectly competitive firm in the short-run, what will be the effect of an increase in market demand on equilibrium price and quantity, respectively?
A) Decrease; increase.
B) Increase; increase.
C) Increase; decrease.
Q10. The fact that firms can make more adjustments to production methods in the long run gives the firm:
A) a long-run supply curve that is more elastic than its short-run supply curve.
B) the ability to quickly adjust output.
C) a long-run supply curve that is steeper than its short-run supply curve.
[此贴子已经被作者于2009-1-6 13:50:22编辑过]
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