1. People making decisions on the margin mean they ().
A. Wait until the last second before making a decision
B. Evaluate the additional benefits and costs of small changes
C. often face significant choices when making decisions
D. Consider the relatively small impact on their economic well-being when making decisions
2. The following are not the ways to reduce risk: ().
B. Buying insurance
C. Get more information
D. Get Less Information
3. If the production function is a production function with a fixed substitution ratio, the following statement is correct ().
A. Marginal technology substitution rate is zero
B. Marginal technology substitution rate is infinite
C. Marginal technology replacement rates remain unchanged
D. All three situations are possible
4. Assuming that the prices of various factors of production, the prices of products, and marginal returns are equal to $ 4 in a completely competitive factor market, and the manufacturer has obtained the maximum profit at this time, the marginal material products of various factors of production are ().
A.2 B.1 C.4 D. Uncertainty
5. If the land is improved ().
A. This is not differential rent
B. This is differential rent Ⅰ
C. This is differential rent Ⅱ
D. This is absolute rent
1. [Answer] B. Analysis: Marginal analysis is that when a company makes management decisions, it does not measure a certain output or benefit based on all cost inputs, but instead benefits from incremental factor inputs, that is, marginal benefits, and costs from incremental factor inputs, that is, margins. Compare costs to judge the pros and cons of a decision.
2. [Answer] D. Analysis: The ways to reduce risks include: diversification, purchase of insurance, and access to more information.
3. [Answer] C. Analysis: The expression of the production function with a fixed substitution ratio is Q = aL + bK, which is a linear function, and its marginal technological substitution rate remains unchanged.
4. [Answer] B. Analysis: According to the principle of using the elements of the completely competitive manufacturers VMP = W, W = 4, so VMP = 4, VMP = MP × P, P = 4, so MP = 1, that is, the marginal material product of the factor is 1.
5. [Answer] C. Analysis: The continuous increase of investment in the same piece of land will inevitably result in a difference in labor productivity for each investment. As long as the productivity level is higher than that of inferior places, excess profits will be generated. This excess profit due to the difference in labor productivity of each successive investment on the same piece of land is converted into land rent, which is differential land rent Ⅱ.
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