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TEST BANK For Microeconomics, 9th edition by Jeffrey M. Perloff, Chapters 1 - 20 

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TEST BANK For Microeconomics, 9th edition by Jeffrey M. Perloff, Chapters 1 - 20 

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TEST BANK For Microeconomics, 9th edition
by Jeffrey M. Perloff, Chapters 1 - 20

,Table of contents
54 54




1. Introduction
2. Supply54and54Demand
3. Applying54the54Supply-and-Demand54Model
4. Consumer54Choice
5. Applying54Consumer54Theory
6. Firms54and54Production
7. Costs
8. Competitive54Firms54and54Markets
9. Applying54the54Competitive54Model
10. General54Equilibrium54and54Economic54Welfare
11. Monopoly
12. Pricing54and54Advertising
13. Oligopoly54and54Monopolistic54Competition
14. Game54Theory
15. Factor54Markets
16. Interest54Rates,54Investments,54and54Capital54Markets
17. Uncertainty
18. Externalities,54Open-Access,54and54Public54Goods
19. Asymmetric54Information
20. Contracts54and54Moral54Hazards

,Chapter541 Introduction
1.1 Microeconomics:54The54Allocation54of54Scarce54Resources
1) Microeconomics54studies54the54allocation54of

A) decision54makers.

B) scarce54resources.

C) models.

D) unlimited54resources.
54ANSWER: B

Section:
The54Allocation54of54Scarce54Resour
ces54Question54Status:Old
AACSB: Analytic54thinking


2) Microeconomics54is54often54called

A) price54theory.

B) decision54science.

C) scarcity.

D) resource54theory
.54ANSWER: A
Section:
The54Allocation54of54Scarce54Resour
ces54Question54Status:Old
AACSB: Analytic54thinking


3) Most54microeconomic54models54assume54that54decision54makers54wish54to

A) make54themselves54as54well54off54as54possible.

B) act54selfishly.

C) make54others54as54well54off54as54possible.

D) None54of54the54ab
ove.54ANSWER: A
Section:
The54Allocation54of54Scarce54Resour
ces54Question54Status:Old
AACSB: Analytic54thinking
4) Society54faces54trade-­ ‑offs54because54of

A) government54regulations.

B) profit54motive.

C) faceless54bureaucrats.

, D) scarcity.5
4ANSWER: D

Section:
The54Allocation54of54Scarce54Resour
ces54Question54Status:Old
AACSB: Analytic54thinking

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