1. If the market demand is mapped by Qd = a-bp, in which of the following cases, there is a change in demand?
a) to increase the revenue the seller reduced the price;
b) in order to maintain the manufacturer's directive is set above the market price;
c) change the price of substitute products;
g) was introduced to the consumer subsidy for each unit of goods purchased.
2. If some limited land will handle five workers, their average product is equal to 8 quintals of grain. Adding the sixth, his marginal product is 2 kilograms. The average product of six workers will be equal to:
a) 10 centners;
b) 6 centners;
c) 7 centners;
d) 42 kilograms.
3. The supply curve of a competitive firm - is:
a) all of the marginal cost curve of the firm;
b) an increasing portion of the marginal cost curve is located above the vehicle;
c) an increasing portion of the curve of average costs;
d) increasing the marginal cost curve plot, located above AVC.
4. Demand for the products displayed monopoly function Q = 80-2P, and the technology of production - function Q = 2L. Monopoly can hire any amount of labor and costs w = 8. How good is sold by the company?
5. Answer "true" or "untrue" the statement and justify your answer:
"In conditions of perfect competition in the market a long period there may be firms receiving positive economic profit."
6. Select those processes in which the prices of production factors play a greater role than the price of the good:
a) the distribution of national income between individuals;
b) inter-sectoral allocation of factors of production;
c) determination of the real income of individuals;
d) the choice of technology of production goods.
7. The function of the public demand for this product has the form: Qd = 8-P, the supply function of the product: Qs = -4 + 2P.
a) determine the equilibrium price and the equilibrium volume of sales;
b) assume that the product is subsidized from the state budget in the amount of 20% of the price paid by the buyer. (Grants seller receives). Determine the price for the buyer and seller, as well as the quantity of goods to be sold on the market.
c) determine the total amount of subsidies and the amount of the net loss, due to its introduction.
d) calculate the surplus of the buyer and the seller before and after the administration of grants. Who benefits from the introduction of subsidies?
Comment on the results.
8. The survey showed that the willingness of residents of three houses to pay for the landscaping of the common yard is expressed by the following features:
P1 = 80-2Q; P2 = 55-Q; P3 = 40-0.5Q, where
Pi - the maximum amount of money you are willing to pay residents of i-house for Qe tree; Q - the number of trees planted. The total costs of planting are determined by the formula: TC = 38 + 4Q + 0.5Q2.
a) to determine the optimal number of trees in the courtyard of the three houses.
b) the same kind of fee for every home need to be set for the financing of landing the optimal number of trees?