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

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

,Table of contents

1. Introduction

2. Supply and Demand

3. Applying the Supply-and-Demand Model

4. Consumer Choice

5. Applying Consumer Theory

6. Firms and Production

7. Costs

8. Competitive Firms and Markets

9. Applying the Competitive Model

10. General Equilibrium and Economic Welfare

11. Monopoly

12. Pricing and Advertising

13. Oligopoly and Monopolistic Competition

14. Game Theory

15. Factor Markets

16. Interest Rates, Investments, and Capital Markets

17. Uncertainty

18. Externalities, Open-Access, and Public Goods

19. Asymmetric Information

20. Contracts and Moral Hazards

, Chapter 1 Introduction



1.1 Microeconomics: The Allocation of Scarce Resources




1) Microeconomics studies the allocation of

A) decision makers.

B) scarce resources.

C) models.

D) unlimited
resources. ANSWER:
B
Section: The Allocation of Scarce
Resources Question Status: Old
AACSB: Analytic thinking



2) Microeconomics is often called

A) price theory.

B) decision science.

C) scarcity.

D) resource
theory.
ANSWER: A
Section: The Allocation of Scarce
Resources Question Status: Old
AACSB: Analytic thinking



3) Most microeconomic models assume that decision makers wish to

A) make themselves as well off as possible.

B) act selfishly.