題目： Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4, for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1. What is the value of Nick's consumer surplus? 答案： 3
【題目】：A profit-maximizing firm in a competitive market is able to sell its product for $7. At its current level of output, the firm’s average total cost is $10. The firm’s marginal cost curve crosses its marginal revenue curve at an output level of 9 units. The firm experiences a 【答案】：l ...
題目：In long-run equilibrium of a competitive market, the number of firms in the markets adjusts so that all of the market demand is satisfied at a price equal to 答案：minimum average total cost
【題目】： Suppose the price elasticity of demand for tickets of Taiwan High Speed Railway (THSR) is 1.5.Ceteris paribus, when THSR reduces its prices, its revenue 【解答】： will go up.
題目：Raisin bran and milk are complementary goods. A decrease in the price of raisins will 答案：increase consumer surplus in the market for raisin bran and increase producer surplus in the market for milk.
題目：If price exceeds average costs under pure competition, in the long run ,______ firms will enter the industry, supply will ______, and price will be driven ______. 答案：more; increase; down
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