《江西财经大学微观经济学试题库》chapter 11.docVIP

Microeconomics, 10e (Parkin) Chapter 11 Output and Costs 1 Decision Time Frames 1) All the decisions made by people who operate firms have one overriding objective, which is to ________. A) make maximum attainable profit B) maximize the firms total revenue C) maximize the firms market share D) maximize the quantity that the firm sells Answer: A Topic: Goal Skill: Recognition Question history: Previous edition, Chapter 11 AACSB: Reflective Thinking 2) The short run is a period of time in which A) the quantity of at least one factor of production is fixed. B) the amount of output is fixed. C) prices and wages are fixed. D) nothing the firm does can be altered. Answer: A Topic: Short Run Skill: Recognition Question history: Modified 10th edition AACSB: Reflective Thinking 3) The short run is a period of time in which A) the quantity used of at least one factor of production is fixed. B) the quantities used of all factors of production are fixed. C) output prices are fixed. D) factor of production prices are fixed. Answer: A Topic: Short Run Skill: Recognition Question history: Modified 10th edition AACSB: Reflective Thinking 4) A period of time in which the quantity of at least one factor of production used by a firm is fixed is called the A) market period. B) intermediate run. C) short run. D) long run. Answer: C Topic: Short Run Skill: Recognition Question history: Previous edition, Chapter 11 AACSB: Reflective Thinking 5) Economists define the short run as a period of time so short that A) the amount of output cannot be changed except under diminishing marginal returns. B) the amount of output cannot be changed at all. C) only one factor of production can be varied. D) at least one factor of production cannot be varied. Answer: D Topic: Short Run Skill: Recognition Question history: Previous edition, Chapter 11 AACSB: Reflective Thinking 6) The short run is a time frame in which A) at least one factor of production is fixed. B) all facto