TEST BANK n
Intermediate Microeconomics n
NINTH n EDITION
TEST BANK n
Intermediate Microecon n
omics
NINTH EDITION n
Hal R. Varian
n n
Theodore C. Bergstrom J n n n
ames E. West n n
W • W • NORTON & COMPANY • NEW YORK • LONDON
n n n n n n n n n n n
,W.nW.nNortonn & nCom pany n hasn beenn independentn sincen itsn founding n inn1923,n w henn Williamn Wardern Nortonn and
n MarynD.n H ertern Nortonnfirstn publishednlecturesn delivered natn then People’snI nstitute,n thenad ultn educationn divisi
onnofnNewn Y ork n City’sn Coopern U nion.n T henfirmn soonn ex pand edn itsn programn bey ondn thenI nstitute,n publishing n bo
oksnbyn celebratednacad emicsn fromn A merican andn abroad.n Byn mid century, n then twon majorn pillarsnofn Norton’sn p u
blishing n prog ram — traden book sn andn colleg en tex ts—
werenfirmly n established. nI nn then 1950s,n then Nortonnfamily n transferredn controln ofn then companyn ton itsn employee
s,nandn today—
withn an staffn ofn fourn hundredn andn an comparablen numbern ofn trade,n colleg e, nand n professional n titlesn publishedn ea
chnyear—
W.nW.nNortonn & nCom pany n standsn asn then larg estn andn oldestn publishing n housen ow nedn w holly n byn itsn em ploye
es.
Copyrightn©n2014nbynW. nW. nNortonn&nCompany, nInc. n
All nrightsnreserved.
Printedn innthen United nStatesnofnA merica.nI
SBNn978-0-393-93675-9
W.nW.nNorton n&nCompany, nI nc.
500nFifthnA venue, nN ew nYork ,nN.Y.n10110 -
0017nwwnorton.com
W.nW.nNortonn &nCompanynL td.
CastlenH ouse,n 75/76n Wellsn Street,nL ondonn W1T n3QT n
1n2n3n4n 5n 6n 7 n 8n 9n 0
,CONTENTS
Preface vii
PartnI TestnBank
Chap ter n2 n n Budg e tnConstrain t 3
Chap ter n3 n n Preferences 11
Chapter n 4n n Utility 17
Chap ter n5 n n Choice 24
Chap ter n6 n n Demand 32
Chapter n 7n n R evealedn Preference 41
Chap ter n8 n n Slutsk y nEquation 49
Chap ter n9n n Buying nand nSelling 55
Chapter n 10n n Intertem poraln Choice 65
Chap ter n11n n A sse tn Mark ets 72
Chap ter n12n n Uncer tain ty 79
Chap ter n13n n R isk y nA sse ts 86
Chap ter n14n n Consu mer’s nSurplus 89
Chap ter n15n n Mark e tnDeman d 94
Chap ter n16n n Equilibriu m 105
Chap ter n17n n Measurement 112
Chap ter n18n n A uc tions 113
Chap ter n19n n T echnolog y 119
Chapter n 20n n Profitn Max imization 125
Chapter n 21n n Costn Minimization 132
Chap ter n22n n Cos tnCurves 143
Chap ter n23n n Firm nSupply 150
Chap ter n24n n I ndus tr y nSupply 155
Chap ter n25n n Monopoly 162
Chap ter n26n n Monopoly nB ehavior 172
, Chapter n27 n FactornMark ets 177
Chapter n28 n Oligopoly 181
Chapter n29 n Gamen T he ory 189
Chapter n30 n GamenApplications 195
Chapter n31 n Behavioraln Economics 202
Chapter n32 n Exchang e 207
Chapter n33 n Production 217
Chapter n34 n Welfare 224
Chapter n35 n Externalities 228
Chapter n36 n InformationnT ec hnolog y 235
Chapter n37 n Publicn Good s 239
Chapter n38 n Asymmetricn I nformation 243
PartnII Alternati ve nQuizzes
Chaptern 2n Budgetn Constraint 251
Chaptern 3n Preferences 256
Chaptern 4n Utility 261
Chaptern 5n Choice 266
Chaptern 6n Demand 270
Chaptern 7n Revealedn Preference 275
Chaptern 8n Slutsk yn Equation 280
Chaptern 9n Buying n and n Selling 285
Chapter n10 n Intertem poraln Choice 290
Chapter n11 n Assetn Mark e ts 294
Chapter n12 n Uncertainty 299
Chapter n13 n Riskyn A s sets 304
Chapter n14 n Consum er’sn S urplu s 306
Chapter n15 n Marketn D em and 311
Chapter n16 n Equilibrium 315
Chapter n17 n Measu rem en t 319
Intermediate Microeconomics n
NINTH n EDITION
TEST BANK n
Intermediate Microecon n
omics
NINTH EDITION n
Hal R. Varian
n n
Theodore C. Bergstrom J n n n
ames E. West n n
W • W • NORTON & COMPANY • NEW YORK • LONDON
n n n n n n n n n n n
,W.nW.nNortonn & nCom pany n hasn beenn independentn sincen itsn founding n inn1923,n w henn Williamn Wardern Nortonn and
n MarynD.n H ertern Nortonnfirstn publishednlecturesn delivered natn then People’snI nstitute,n thenad ultn educationn divisi
onnofnNewn Y ork n City’sn Coopern U nion.n T henfirmn soonn ex pand edn itsn programn bey ondn thenI nstitute,n publishing n bo
oksnbyn celebratednacad emicsn fromn A merican andn abroad.n Byn mid century, n then twon majorn pillarsnofn Norton’sn p u
blishing n prog ram — traden book sn andn colleg en tex ts—
werenfirmly n established. nI nn then 1950s,n then Nortonnfamily n transferredn controln ofn then companyn ton itsn employee
s,nandn today—
withn an staffn ofn fourn hundredn andn an comparablen numbern ofn trade,n colleg e, nand n professional n titlesn publishedn ea
chnyear—
W.nW.nNortonn & nCom pany n standsn asn then larg estn andn oldestn publishing n housen ow nedn w holly n byn itsn em ploye
es.
Copyrightn©n2014nbynW. nW. nNortonn&nCompany, nInc. n
All nrightsnreserved.
Printedn innthen United nStatesnofnA merica.nI
SBNn978-0-393-93675-9
W.nW.nNorton n&nCompany, nI nc.
500nFifthnA venue, nN ew nYork ,nN.Y.n10110 -
0017nwwnorton.com
W.nW.nNortonn &nCompanynL td.
CastlenH ouse,n 75/76n Wellsn Street,nL ondonn W1T n3QT n
1n2n3n4n 5n 6n 7 n 8n 9n 0
,CONTENTS
Preface vii
PartnI TestnBank
Chap ter n2 n n Budg e tnConstrain t 3
Chap ter n3 n n Preferences 11
Chapter n 4n n Utility 17
Chap ter n5 n n Choice 24
Chap ter n6 n n Demand 32
Chapter n 7n n R evealedn Preference 41
Chap ter n8 n n Slutsk y nEquation 49
Chap ter n9n n Buying nand nSelling 55
Chapter n 10n n Intertem poraln Choice 65
Chap ter n11n n A sse tn Mark ets 72
Chap ter n12n n Uncer tain ty 79
Chap ter n13n n R isk y nA sse ts 86
Chap ter n14n n Consu mer’s nSurplus 89
Chap ter n15n n Mark e tnDeman d 94
Chap ter n16n n Equilibriu m 105
Chap ter n17n n Measurement 112
Chap ter n18n n A uc tions 113
Chap ter n19n n T echnolog y 119
Chapter n 20n n Profitn Max imization 125
Chapter n 21n n Costn Minimization 132
Chap ter n22n n Cos tnCurves 143
Chap ter n23n n Firm nSupply 150
Chap ter n24n n I ndus tr y nSupply 155
Chap ter n25n n Monopoly 162
Chap ter n26n n Monopoly nB ehavior 172
, Chapter n27 n FactornMark ets 177
Chapter n28 n Oligopoly 181
Chapter n29 n Gamen T he ory 189
Chapter n30 n GamenApplications 195
Chapter n31 n Behavioraln Economics 202
Chapter n32 n Exchang e 207
Chapter n33 n Production 217
Chapter n34 n Welfare 224
Chapter n35 n Externalities 228
Chapter n36 n InformationnT ec hnolog y 235
Chapter n37 n Publicn Good s 239
Chapter n38 n Asymmetricn I nformation 243
PartnII Alternati ve nQuizzes
Chaptern 2n Budgetn Constraint 251
Chaptern 3n Preferences 256
Chaptern 4n Utility 261
Chaptern 5n Choice 266
Chaptern 6n Demand 270
Chaptern 7n Revealedn Preference 275
Chaptern 8n Slutsk yn Equation 280
Chaptern 9n Buying n and n Selling 285
Chapter n10 n Intertem poraln Choice 290
Chapter n11 n Assetn Mark e ts 294
Chapter n12 n Uncertainty 299
Chapter n13 n Riskyn A s sets 304
Chapter n14 n Consum er’sn S urplu s 306
Chapter n15 n Marketn D em and 311
Chapter n16 n Equilibrium 315
Chapter n17 n Measu rem en t 319
