TEST BANK L
Intermediate Microeconomics L
NINTHLEDITION
TEST BANK L
Intermediate Microecon L
omics
NINTH EDITION L
Hal R. Varian
L L
Theodore C. BergstromJ L L L
ames E. West L L
W • W • NORTON & COMPANY • NEW YORK • LONDON
L L L L L L L L L L L
,W.LW.LNortonL&LCompanyL hasL beenLindependent L sinceL itsLfoundingL inL1923,LwhenLWilliamLWarderL NortonLandL
MaryLD.LHerterLNortonLfirstLpublishedLlecturesLdeliveredLatLtheLPeople’sLInstitute,LtheLadultLeducationLdivisio
nLofLNewLYorkLCity’sLCooperLUnion.LTheLfirmLsoonLexpandedLitsLprogramLbeyondLtheLInstitute,LpublishingL book
sL byL celebratedL academics L fromL AmericaL andL abroad.L ByL midcentury,L theL twoL majorL pillars LofLNorton’sLpubli
shingLprogram—tradeLbooksLandLcollegeLtexts—
wereLfirmlyLestablished.LInLtheL1950s,LtheLNortonLfamilyLtransferredLcontrolL ofLtheLcompany LtoLitsLemployees
,LandLtoday—
withLaLstaffLofLfourL hundredLandLaLcomparableLnumberLofLtrade,Lcollege,LandLprofessional L titles LpublishedLeac
hLyear—
W.LW.LNortonL&LCompanyLstandsLasLtheLlargestLandLoldestLpublishing LhouseLownedLwhollyLbyLitsLemployees.
CopyrightL ©L 2014L byL W.L W.L NortonL &L Company,L Inc.L
AllLrightsLreserved.
PrintedLinLtheLUnitedLStatesLofLAmerica.LI
SBNL978-0-393-93675-9
W.LW.LNortonL&LCompany,LInc.
500LFifthLAvenue,LNewLYork,LN.Y.L10110-
0017Lwwnorton.com
W.LW.LNortonL&LCompanyLLtd.
CastleL House,L75/76LWellsLStreet,LLondonL W1TL3QTL1L
2L3L4L5L6L7L8L9L0
,CONTENTS
Preface vii
PartLI TestLBank
ChapterL 2L L BudgetL Constraint 3
ChapterL3L L Preferences 11
ChapterL 4L L Utility 17
ChapterL5L L Choice 24
ChapterL 6L L Demand 32
ChapterL 7L L RevealedLPreference 41
ChapterL 8L L SlutskyL Equation 49
ChapterL 9L L BuyingL andL Selling 55
ChapterL 10L L IntertemporalL Choice 65
ChapterL 11L L AssetL Markets 72
ChapterL 12L L Uncertainty 79
ChapterL 13L L RiskyL Assets 86
ChapterL 14L L Consumer’sL Surplus 89
ChapterL 15L L MarketL Demand 94
ChapterL 16L L Equilibrium 105
ChapterL 17L L Measurement 112
ChapterL 18L L Auctions 113
ChapterL 19L L Technology 119
ChapterL 20L L ProfitL Maximization 125
ChapterL 21L L CostL Minimization 132
ChapterL 22L L CostLCurves 143
ChapterL 23L L FirmL Supply 150
ChapterL 24L L IndustryL Supply 155
ChapterL 25L L Monopoly 162
ChapterL 26L L MonopolyL Behavior 172
, ChapterL 27L L FactorL Markets 177
ChapterL 28L L Oligopoly 181
ChapterL 29L L GameL Theory 189
ChapterL 30L L GameL Applications 195
ChapterL 31L L BehavioralL Economics 202
ChapterL 32L L Exchange 207
ChapterL 33L L Production 217
ChapterL 34L L Welfare 224
ChapterL 35L L Externalities 228
ChapterL 36L L InformationL Technology 235
ChapterL 37L L PublicL Goods 239
ChapterL 38L L Asymmetric L Information 243
PartLII AlternativeL Quizzes
ChapterL 2L L BudgetL Constraint 251
ChapterL 3L L Preferences 256
ChapterL 4L L Utility 261
ChapterL5L L Choice 266
ChapterL 6L L Demand 270
ChapterL 7L L RevealedL Preference 275
ChapterL 8L L SlutskyL Equation 280
ChapterL 9L L BuyingL andL Selling 285
ChapterL 10L L IntertemporalL Choice 290
ChapterL 11L L AssetL Markets 294
ChapterL 12L L Uncertainty 299
ChapterL 13L L RiskyL Assets 304
ChapterL 14L L Consumer’sL Surplus 306
ChapterL 15L L MarketL Demand 311
ChapterL 16L L Equilibrium 315
ChapterL 17L L Measurement 319
Intermediate Microeconomics L
NINTHLEDITION
TEST BANK L
Intermediate Microecon L
omics
NINTH EDITION L
Hal R. Varian
L L
Theodore C. BergstromJ L L L
ames E. West L L
W • W • NORTON & COMPANY • NEW YORK • LONDON
L L L L L L L L L L L
,W.LW.LNortonL&LCompanyL hasL beenLindependent L sinceL itsLfoundingL inL1923,LwhenLWilliamLWarderL NortonLandL
MaryLD.LHerterLNortonLfirstLpublishedLlecturesLdeliveredLatLtheLPeople’sLInstitute,LtheLadultLeducationLdivisio
nLofLNewLYorkLCity’sLCooperLUnion.LTheLfirmLsoonLexpandedLitsLprogramLbeyondLtheLInstitute,LpublishingL book
sL byL celebratedL academics L fromL AmericaL andL abroad.L ByL midcentury,L theL twoL majorL pillars LofLNorton’sLpubli
shingLprogram—tradeLbooksLandLcollegeLtexts—
wereLfirmlyLestablished.LInLtheL1950s,LtheLNortonLfamilyLtransferredLcontrolL ofLtheLcompany LtoLitsLemployees
,LandLtoday—
withLaLstaffLofLfourL hundredLandLaLcomparableLnumberLofLtrade,Lcollege,LandLprofessional L titles LpublishedLeac
hLyear—
W.LW.LNortonL&LCompanyLstandsLasLtheLlargestLandLoldestLpublishing LhouseLownedLwhollyLbyLitsLemployees.
CopyrightL ©L 2014L byL W.L W.L NortonL &L Company,L Inc.L
AllLrightsLreserved.
PrintedLinLtheLUnitedLStatesLofLAmerica.LI
SBNL978-0-393-93675-9
W.LW.LNortonL&LCompany,LInc.
500LFifthLAvenue,LNewLYork,LN.Y.L10110-
0017Lwwnorton.com
W.LW.LNortonL&LCompanyLLtd.
CastleL House,L75/76LWellsLStreet,LLondonL W1TL3QTL1L
2L3L4L5L6L7L8L9L0
,CONTENTS
Preface vii
PartLI TestLBank
ChapterL 2L L BudgetL Constraint 3
ChapterL3L L Preferences 11
ChapterL 4L L Utility 17
ChapterL5L L Choice 24
ChapterL 6L L Demand 32
ChapterL 7L L RevealedLPreference 41
ChapterL 8L L SlutskyL Equation 49
ChapterL 9L L BuyingL andL Selling 55
ChapterL 10L L IntertemporalL Choice 65
ChapterL 11L L AssetL Markets 72
ChapterL 12L L Uncertainty 79
ChapterL 13L L RiskyL Assets 86
ChapterL 14L L Consumer’sL Surplus 89
ChapterL 15L L MarketL Demand 94
ChapterL 16L L Equilibrium 105
ChapterL 17L L Measurement 112
ChapterL 18L L Auctions 113
ChapterL 19L L Technology 119
ChapterL 20L L ProfitL Maximization 125
ChapterL 21L L CostL Minimization 132
ChapterL 22L L CostLCurves 143
ChapterL 23L L FirmL Supply 150
ChapterL 24L L IndustryL Supply 155
ChapterL 25L L Monopoly 162
ChapterL 26L L MonopolyL Behavior 172
, ChapterL 27L L FactorL Markets 177
ChapterL 28L L Oligopoly 181
ChapterL 29L L GameL Theory 189
ChapterL 30L L GameL Applications 195
ChapterL 31L L BehavioralL Economics 202
ChapterL 32L L Exchange 207
ChapterL 33L L Production 217
ChapterL 34L L Welfare 224
ChapterL 35L L Externalities 228
ChapterL 36L L InformationL Technology 235
ChapterL 37L L PublicL Goods 239
ChapterL 38L L Asymmetric L Information 243
PartLII AlternativeL Quizzes
ChapterL 2L L BudgetL Constraint 251
ChapterL 3L L Preferences 256
ChapterL 4L L Utility 261
ChapterL5L L Choice 266
ChapterL 6L L Demand 270
ChapterL 7L L RevealedL Preference 275
ChapterL 8L L SlutskyL Equation 280
ChapterL 9L L BuyingL andL Selling 285
ChapterL 10L L IntertemporalL Choice 290
ChapterL 11L L AssetL Markets 294
ChapterL 12L L Uncertainty 299
ChapterL 13L L RiskyL Assets 304
ChapterL 14L L Consumer’sL Surplus 306
ChapterL 15L L MarketL Demand 311
ChapterL 16L L Equilibrium 315
ChapterL 17L L Measurement 319
