Big Apple Music, Inc., enjeys an exclusive copyright on music written and produced by
the Fab Four, a legendary British rock group. Total revenne for the group's records is
given by the relation:
TR = $15Q − $0.000005Q2
Marginal costs for production and distribution are stable at $5 per unit. All other costs
have been fully amortixed.
(1) As a monopoly, calculate Big Apple's output, price, and profits at the profitmaximixing
activity level.
(2) What record price and profit levels would prevail following expiration of copyright
protection based on the assumption that perfectly competitive pricing would
result?
何謂“次級房貸”?請說明最近半年來美國次級房貸風暴對全球股市(例如:美
國股市、歐洲股市及台灣股市等)及全球重要的總體經濟變數(例如:經濟成長、
就業率、房價等)有何影響?其道理及原因何在?請說明及評論之。
解釋名詞
Isoquant
解釋名詞
Asymmetric Information
解釋名詞
Money Multiplier
解釋名詞
Cost-push Inflation
Which of the following is NOT held constant when constructing a demand curve for
good X?
Consumer income
Consumer testes
Price of good X
Prices of other goods
Consumer expectations
Bacon and eggs are most likely
complements
substitutes
beds
overproduced in a competitive market
free goods
If an increase in the price of good X comes the deamed for good Y to decrease, it can
be concluded that
X and Y are substituted
X and Y are coemplemens
X and Y are inferior goods.
X and Y are superior goods
there is collesion in the marketplace.
Assume MUx = 1,000 utils, MUy = 200 , Px = $50 , and Py = $20 . This consumer
should buy less of X and less of Y.
should buy more of X and less of Y.
is in equilibrium.
should buy more of X and more of Y.
should buy more of X because MUx > MUy .
Assume that a consumer purchsses a conbination of products X and Y and the
MUx / Px = 75 utils per dollar and MUy / Py = 50 utils per dollar. To maximize utility
without spending more dollars, the consumer should buy
more of both X and Y.
less of X only if the price of X increases.
more of Y and less of X.
more of X and less of Y.
less of both X and Y.
A perfectly inelastic demand curve is expressed graphically as
a downward-sloping demand curve.
an upward-sloping demand curve.
a horizontal line.
a vertical line.
bowed-out curve.
When the price of a good increases, total revenue earned from selling that good also
increases. From this, we can correctly conclude that demand is
elastic
unit-elastic
inelastic
perfectly inelastic
perfectly elastic
When income elasticity of demand is a negative sumber, one can correctly conclude that
the good is normal
the good is inferior
the good is a substitute
the good is a complement
total revenue will decrease when the price increases
Which curve passes through the minimum point of the average-total-cost curve?
The total-fixed-cost curve
The long-run average-total-cost curve
The demand curve
The marginal-cost curve
The average-variable-cost curve
A firm that cannot take any influence on setting prices is
a natural monopoly.
a local monopoly.
in a monopolistically competitive market structure.
in a perfectly competitive market structure.
in an oligopolistic market structure.
Real GDP measures
personal income adjusted for taxes paid to the government.
national output adjusted for changes in the quality of products.
national output adjusted for price level changes.
nominal output adjusted for changes in national income because of economic booms.
national output adjusted for uaemployment.
Depreciation of the dollar means that
the value of the dollar has increased in relation to other currencies.
the prices of U.S. products to foreigners have risen.
foreign product prices are now lower.
foreign product prices are now higher.
the United States will sell fewer products to foreigners.
If the nominal interest rate is 12 percent and the inflation rate is 7 percent, then the real
interest rate equals
-5 percent
+5 percent
+7 percent
+12 percent
+19 percent
The consumption function describes the relationship between house-hold spending and
disposable income.
prices.
planned investment.
wages.
saving.
If the reserve requirement is 25 percent, what is the deposit expansion multiplier?
100
25
10
4
2
Raising the reserve requirement will
reduce the deposit expansion multiplier.
lower the discount rate.
reduce interest rate ceilings.
increase excess reserves.
increase the money supply.
When total leakages exceed total injections, then
aggregate expenditures also exceed total income.
the economy is operating at its equilibrium level.
unplanned inventory reduction occur.
there is pressure on national income to decline.
there is pressure on business production to rise.
The larger the MPS,
the smaller the spending multiplier.
the larger the spending multiplier.
the smaller the slope of the saving curve.
the smaller the leakage out of the income stream when autonomous expenditures
increase.
the larger the slope of the consumption function.
A person keeps some cash assets in order to be prepared for unforeseen future events.
This reflects
a speculative demand for money.
a transactions demand for money.
a precautionary demand for money.
a liquidity demand for money.
a risk-neutral demand for money.
The transactions demand for money
rises when nominal income falls.
rises when nominal income rises.
falls when the price level rises.
falls when real GDP rises.
falls when the money supply rises.
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