TEST BANK Intermediate Microeconomics NINTH EDITION Hal R. Varian Theodore C. Bergstrom James E. West (complete, answered, workouts)

TEST BANK Intermediate Microeconomics NINTH EDITION TEST BANK Intermediate Microeco-nomics NINTH EDITION Hal R. Varian Theodore C. Bergstrom James E. West W • W • NORTON & COMPANY • NEW YORK • LONDON W. W. Norton & Company has been independent since its founding in 1923, when William Warder Norton and Mary D. Herter Nor-ton first published lectures delivered at the People’s Institute, the adult education division of New York City’s Cooper Union. The firm soon expanded its program beyond the Institute, publishing books by celebrated academics from America and abroad. By midcentury, the two major pillars of Norton’s publishing program—trade books and college texts—were firmly established. In the 1950s, the Norton family transferred control of the company to its employees, and today—with a staff of four hundred and a compara-ble number of trade, college, and professional titles published each year—W. W. Norton & Company stands as the largest and oldest publishing house owned wholly by its employees. Copyright © 2014 by W. W. Norton & Company, Inc. All rights reserved. Printed in the United States of America. ISBN 978-0-393-93675-9 W. W. Norton & Company, Inc. 500 Fifth Avenue, New York, N.Y. 10110-0017 wwnorton.com W. W. Norton & Company Ltd. Castle House, 75/76 Wells Street, London W1T 3QT 1 2 3 4 5 6 7 8 9 0 CONTENTS Preface vii Part I Test Bank Chapter 2 | Budget Constraint 3 Chapter 3 | Preferences 11 Chapter 4 | Utility 17 Chapter 5 | Choice 24 Chapter 6 | Demand 32 Chapter 7 | Revealed Preference 41 Chapter 8 | Slutsky Equation 49 Chapter 9 | Buying and Selling 55 Chapter 10 | Intertemporal Choice 65 Chapter 11 | Asset Markets 72 Chapter 12 | Uncertainty 79 Chapter 13 | Risky Assets 86 Chapter 14 | Consumer’s Surplus 89 Chapter 15 | Market Demand 94 Chapter 16 | Equilibrium 105 Chapter 17 | Measurement 112 Chapter 18 | Auctions 113 Chapter 19 | Technology 119 Chapter 20 | Profit Maximization 125 Chapter 21 | Cost Minimization 132 Chapter 22 | Cost Curves 143 Chapter 23 | Firm Supply 150 Chapter 24 | Industry Supply 155 Chapter 25 | Monopoly 162 Chapter 26 | Monopoly Behavior 172 Chapter 27 | Factor Markets 177 Chapter 28 | Oligopoly 181 Chapter 29 | Game Theory 189 Chapter 30 | Game Applications 195 Chapter 31 | Behavioral Economics 202 Chapter 32 | Exchange 207 Chapter 33 | Production 217 Chapter 34 | Welfare 224 Chapter 35 | Externalities 228 Chapter 36 | Information Technology 235 Chapter 37 | Public Goods 239 Chapter 38 | Asymmetric Information 243 Part II Alternative Quizzes Chapter 2 | Budget Constraint 251 Chapter 3 | Preferences 256 Chapter 4 | Utility 261 Chapter 5 | Choice 266 Chapter 6 | Demand 270 Chapter 7 | Revealed Preference 275 Chapter 8 | Slutsky Equation 280 Chapter 9 | Buying and Selling 285 Chapter 10 | Intertemporal Choice 290 Chapter 11 | Asset Markets 294 Chapter 12 | Uncertainty 299 Chapter 13 | Risky Assets 304 Chapter 14 | Consumer’s Surplus 306 Chapter 15 | Market Demand 311 Chapter 16 | Equilibrium 315 Chapter 17 | Measurement 319 Chapter 18 | Auctions 320