管理经济学作业1答案

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1、ManagerialEconomicsHOMEWORKSET#1Name:Class:Student#:(Dueday:Nextclass)Part1:1.Aperfectlycompetitivemarkethas:a)manybuyersandsellers.b)severallargebuyers.c)ameetingplaceforbuyersandsellers.d)a)andb)e)a)andc)Choose:a)Theremustbenumeroussmallbuyersandsellersforamarkettobeperfe

2、ctlycompetitive.Ameetingplaceisunnecessary.2.BoeingCorporationandAirbusIndustriesaretheonlytwoproducersoflong-rangecommercialaircraft.Thismarketisnotperfectlycompetitivebecause:a)Eachcompanyhasannualsalesover$10billion.b)Eachcompanycansignificantlyaffectprices.c)Airbusrecei

3、vessubsidiesfromtheEuropeanUnion.d)AirbuscannotsellaircrafttotheUnitedStatesgovernment.e)Alloftheabove.Choose:b)Thecharacterofmonopolymarketiseachfirmcanaffectprices.3.Iftherealpriceofacollegeeducationhasrisenduringaperiodofinflation:a)itsnominalpricehasnotchanged.b)itsnomi

4、nalpricehasrisenslowerthanageneralindexofprices.c)itsnominalpricehasrisenfasterthanageneralindexofprices.d)itscurrentdollarpricehasnotchanged.e)Noneoftheaboveiscorrect.Choose:c)Whenthenominalpriceofacollegeeducationrisesfasterthantherateofinflation,therealpriceofacollegeedu

5、cationwillrise.4.Theconstantdollarpriceofagood:a)isthesameasitsrealprice.b)isthesameasitsnominalprice.c)adjustsforinflationintheoverallpricelevel.d)b)andc)e)a)andc)Choose:e)Bydefinition,theconstantdollarpriceisequaltotherealprice,andbothadjustthenominalpricefortheeffectsoft

6、heinflation.5.Thepriceofasandwichwas$0.29in1970and$0.99in1993.TheCPIwas38.8in1970and144.0in1993.The1993priceofasandwichin1970dollarsis:a)$0.08.b)$0.27.c)$0.34.d)$3.67.Choose:b)0.99/x=144/38.8x=0.276.Whichofthefollowingwouldshiftthedemandcurvefornewtextbookstotheright?a)Afal

7、linthepriceofpaperusedinpublishingtexts.b)Afallinthepriceofequivalentusedtextbooks.c)Anincreaseinthenumberofstudentsattendingcollege.d)Afallinthepriceofnewtextbooks.Choose:c)non-pricedemand-determiningvariables7.Plasticandsteelaresubstitutesintheproductionofbodypanelsforcer

8、tainautomobiles.Ifthepriceofplasticincreases,withotherthingsremainingthesame,wewou