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BM.05.TA
FOREIGN TRADE UNIVERSITY
HCMC CAMPUS
FACULTY OF ECONOMICS AND LAW
_________________________
FINAL EXAM QUESTIONS
MICROECONOMICS 2 KTEE401
__________________________________
Semester: II Academic year: 2021– 2022
Full-time/Part-time: Full-time
Class code: ML54, ML55, ML56, ML57
Form of Exam: Written Exam
Duration: 60 minutes (excluding paper distribution time)
PART 1: MULTIPLE CHOICE QUESTIONS
20 QUESTIONS
TOTAL 7.0 POINTS
0.35 POINT FOR EACH QUESTION
Question 1:
First-degree price discrimination in the Law services:
B) practice of charging different prices per unit for different quantities of the same good or
service.
C) practice of dividing consumers into two or more groups with separate demand curves and
charging different prices to each group
D) none of the above
Question 2:
The Taxi technology (Bee car, Grab, TNet, Gojek…) in Vietnam becomes inferior services
when an increase in the consumer’s income leads to less consumption of the services and the
B) shifts outward
C) shifts inward
D) none of the above
Question 3:
With the level of utility held constant, substitution effect is the change in consumption of a
good associated with a change in
A) its price.
B) .
C) purchasing power of the consumer.
D) all of the above.
Question 4:
The decrease in the price of one good (for example: Clothes) in the good basket (Clothes and
Food) of the consumer, for example: has
A) only income effect.
B) only substitution effect.
.
D) none of the above.
Expansion path is the curve passing through
A) the minimum point of isocost line.
B) .
C) points of tangency between a firm’s isocost lines and its isoquants.
D) none of the above
Question 6:
A feedback effect can be of Vietnam caused by
A) in the gas market of Vietnam
B) in the oil market of Vietnam.
C) in the Iphone market of Vietnam.
D) none of the above
Question 7:
Pareto efficient allocation: Allocation of goods in which no one can be made better off unless ………
A) every one is made worse off.
B) someone else is made better off.
C) someone else is made worse off
D) none of the above
Question 8:
Diagram showing all possible allocations of either two goods between two people or of two inputs
between two production processes is
A) the indifferent curve.
B) the production possilibity frontier.
D) none of the above
Question 9:
The allocations in the contract curve are
A) inefficient.
B) efficient.
C) feed back effects.
D) none of the above.
Question 10:
The long-run production is
B) production with one variable input
C) production in the longer period of time
D) none of the above
Question 11:
The OPEC Cartel can drive price above the competitive price level because
A) it has monopoly power
B) it is a monopolist in oil market
D) none of the above.
Question 12:
Riskless asset(s) is/are
A) the treasury bonds
B) the short-term certificates of deposit
C) both A and B.
D) none of the above.
Question 13:
Real return equals to
A) normal return less the rate of inflation
B) normal return less the cost of investment
C) both A and B
D) none of the above
Question 14:
A job working as a senior manager at Microsoft pays a certain income I
S
= $20,000 per
month. The expected income of job working as junior manager at Microsoft is: E(I
J
) =
$16,000.
The utility U = E(U ). In this case, the risk premium for a risk averse is
S J
A) $ 4000
B) $ 5000
C) $ 6000
D) $ 7000
Question 15:
Assumed a project for Vinfast electric car is valued at 1 million USD that can be invested
today to yield 1(1+R) million USD a year from now. R is the interest rate. Therefore, 1(1+R)
million USD are the
A) future value of 1 million USD today
B) discounted present value of 1 million USD today
C) both A and B are correct
D) none of the above
Question 16:
Various combinations of inputs necessary for the firm to produce a given output is visualized
in
B) the average cost curve
C) the average fixed cost curve
D) the average variable cost curve
Question 17:
The slope of the isoquant at any point measures
A) the ratio of production cost
B) the marginal rate of substitution
C)
D) none of the above
Question 18:
Second-degree price discrimination in Whole sale market for air tickets of Vietnam Airlines:
A) practice of charging each customer her reservation price.
B) practice of charging different prices per unit for different quantities of the same good or
service.
C) practice of dividing consumers into two or more groups with separate demand curves and
charging different prices to each group
D) none of the above
Question 19:
Way(s) by which the consumers and businesses commonly reduce risk
A) Diversification.
B) Buying insurance.
C) Obtaining more information about choices and payoffs.
D) All of the above.
Question 20:
Increasing return to scale is situation in which
A)
B) output doubles when all inputs are doubled
C) output less than doubles when all inputs are doubled
D) none of the above
PART 2: SHORT-ANSWER QUESTION
02 QUESTIONS
TOTAL 3 POINTS
Question 1:
Assumed that Boeing (firm 1) and Airbus (firm 2) face the following market demand curve
for duopolist in the Stackelberg model: P =30 - Q where Q is the total production of both firms
(Q = Q
1
+ Q
2
), and both firms have zero marginal cost. To maximize profit, each firm will set
its marginal revenue equal its marginal cost. Airbus takes the quantity of Boeing as fixed; the
reaction curve of Airbus is Q = 15 – 0.5 Q .
2 1
What is the production quantity of two firms (in thousand)? (0.5 point)
Why can one firm be the first mover? (1.0 point)
Question 2:
Suppose there is a perfectly competitive Dragon fruit market in Vietnam with a market
demand curve: where P is the market price and Q is the market quantity.
Furthermore, suppose that all the farmers in this market are identical and that a representative
farmers where q is the quantity produced by this
representative farmer. The representative farmers (Unit of Q:
MT, unit of P: USD 1000).
In the long run, what level of output will the ? (0.5 point)
In the long run, what price per unit will the reprentative farmer sell in this market?
(0.5 point)
In the long run, why is the profit of firm zero in the equilibrium of this market? (0.5
point)
-------------------------------------- --------------------------------------End of test
Note: - This paper contains 20 multiple choice questions and 02 short-answer questions.
- Students are to use materials during the examination.allowed
- Invigilators shall not provide further explanation.
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Preview text:

BM.05.TA FOREIGN TRADE UNIVERSITY FINAL EXAM QUESTIONS HCMC CAMPUS MICROECONOMICS 2 KTEE401 FACULTY OF ECONOMICS AND LAW
__________________________________ _________________________
Semester: II Academic year: 2021– 2022 Full-time/Part-time: Full-time
Class code: ML54, ML55, ML56, ML57 Form of Exam: Written Exam
Duration: 60 minutes (excluding paper distribution time)
PART 1: MULTIPLE CHOICE QUESTIONS ● 20 QUESTIONS ● TOTAL 7.0 POINTS
● 0.35 POINT FOR EACH QUESTION Question 1:
First-degree price discrimination in the Law services:
B) practice of charging different prices per unit for different quantities of the same good or service.
C) practice of dividing consumers into two or more groups with separate demand curves and
charging different prices to each group D) none of the above Question 2:
The Taxi technology (Bee car, Grab, TNet, Gojek…) in Vietnam becomes inferior services
when an increase in the consumer’s income leads to less consumption of the services and the B) shifts outward C) shifts inward D) none of the above Question 3:
With the level of utility held constant, substitution effect is the change in consumption of a
good associated with a change in A) its price. B) .
C) purchasing power of the consumer. D) all of the above. Question 4:
The decrease in the price of one good (for example: Clothes) in the good basket (Clothes and
Food) of the consumer, for example: has A) only income effect. B) only substitution effect. . D) none of the above.
Expansion path is the curve passing through
A) the minimum point of isocost line. B) .
C) points of tangency between a firm’s isocost lines and its isoquants. D) none of the above Question 6: A feedback effect can be of Vietnam caused by
A) in the gas market of Vietnam
B) in the oil market of Vietnam.
C) in the Iphone market of Vietnam. D) none of the above Question 7:
Pareto efficient allocation: Allocation of goods in which no one can be made better off unless ………
A) every one is made worse off.
B) someone else is made better off.
C) someone else is made worse off D) none of the above Question 8:
Diagram showing all possible allocations of either two goods between two people or of two inputs
between two production processes is A) the indifferent curve.
B) the production possilibity frontier. D) none of the above Question 9:
The allocations in the contract curve are A) inefficient. B) efficient. C) feed back effects. D) none of the above. Question 10: The long-run production is
B) production with one variable input
C) production in the longer period of time D) none of the above Question 11:
The OPEC Cartel can drive price above the competitive price level because A) it has monopoly power
B) it is a monopolist in oil market D) none of the above. Question 12: Riskless asset(s) is/are A) the treasury bonds
B) the short-term certificates of deposit C) both A and B. D) none of the above. Question 13: Real return equals to
A) normal return less the rate of inflation
B) normal return less the cost of investment C) both A and B D) none of the above Question 14:
A job working as a senior manager at Microsoft pays a certain income IS = $20,000 per
month. The expected income of job working as junior manager at Microsoft is: E(IJ) = $16,000.
The utility US = E(UJ). In this case, the risk premium for a risk averse is A) $ 4000 B) $ 5000 C) $ 6000 D) $ 7000 Question 15:
Assumed a project for Vinfast electric car is valued at 1 million USD that can be invested
today to yield 1(1+R) million USD a year from now. R is the interest rate. Therefore, 1(1+R) million USD are the
A) future value of 1 million USD today
B) discounted present value of 1 million USD today C) both A and B are correct D) none of the above Question 16:
Various combinations of inputs necessary for the firm to produce a given output is visualized in B) the average cost curve
C) the average fixed cost curve
D) the average variable cost curve Question 17:
The slope of the isoquant at any point measures
A) the ratio of production cost
B) the marginal rate of substitution C) D) none of the above Question 18:
Second-degree price discrimination in Whole sale market for air tickets of Vietnam Airlines:
A) practice of charging each customer her reservation price.
B) practice of charging different prices per unit for different quantities of the same good or service.
C) practice of dividing consumers into two or more groups with separate demand curves and
charging different prices to each group D) none of the above Question 19:
Way(s) by which the consumers and businesses commonly reduce risk A) Diversification. B) Buying insurance.
C) Obtaining more information about choices and payoffs. D) All of the above. Question 20:
Increasing return to scale is situation in which A)
B) output doubles when all inputs are doubled
C) output less than doubles when all inputs are doubled D) none of the above PART 2: SHORT-ANSWER QUESTION ● 02 QUESTIONS ● TOTAL 3 POINTS Question 1:
Assumed that Boeing (firm 1) and Airbus (firm 2) face the following market demand curve
for duopolist in the Stackelberg model: P =30 - Q where Q is the total production of both firms
(Q = Q1 + Q2), and both firms have zero marginal cost. To maximize profit, each firm will set
its marginal revenue equal its marginal cost. Airbus takes the quantity of Boeing as fixed; the
reaction curve of Airbus is Q2 = 15 – 0.5 Q1.
● What is the production quantity of two firms (in thousand)? (0.5 point)
● Why can one firm be the first mover? (1.0 point) Question 2:
Suppose there is a perfectly competitive Dragon fruit market in Vietnam with a market demand curve:
where P is the market price and Q is the market quantity.
Furthermore, suppose that all the farmers in this market are identical and that a representative farmer’s
where q is the quantity produced by this
representative farmer. The representative farmer’s (Unit of Q: MT, unit of P: USD 1000).
● In the long run, what level of output will the ? (0.5 point)
● In the long run, what price per unit will the reprentative farmer sell in this market? (0.5 point)
● In the long run, why is the profit of firm zero in the equilibrium of this market? (0.5 point)
--------------------------------------End of test--------------------------------------
Note: - This paper contains 20 multiple choice questions and 02 short-answer questions.
- Students are allowedto use materials during the examination.
- Invigilators shall not provide further explanation.