问题


There is a single choice question about high school microeconomics. Answer the question by replying A, B, C or D.
Question: Which of the following correctly illustrates why price (P) equals marginal revenue (MR) under perfect competition, and why price (P) is greater than marginal revenue under monopoly or imperfect competition? I. MR = P = demand on horizontal function for perfect competition. II. P > MR as downward sloping functions for imperfect competition. III. Demand and Price are represented as a vertical function for imperfect competition.
A. I, II, and III.
B. I and II.
C. I only.
D. I and III.
Answer:

答案

模型 模型答案 正确答案
金声玉亮2.0

B. I and II.

Explanation:

I. Under perfect competition, the demand curve is horizontal, and the marginal revenue (MR) curve coincides with the demand curve. Since the firm is a price-taker, the price (P) is equal to the marginal revenue (MR). This is because the firm can sell any quantity it wants at the market price, and the additional revenue from selling one more unit is equal to the market price.

II. Under imperfect competition (including monopoly), the demand curve is downward sloping. This means that as the firm increases its output, the price it can charge decreases. As a result, the marginal revenue (MR) curve lies below the demand curve, and the price (P) is greater than the marginal revenue (MR). This is because the firm has to lower its price to sell more units, so the additional revenue from selling one more unit is less than the price.

III. This statement is incorrect. Under imperfect competition, the demand curve is downward sloping, not vertical. A vertical demand curve would imply that the quantity demanded is fixed and does not respond to changes in price, which is not a characteristic of imperfect competition.
B
deepseekr1

The correct answer is **B. I and II.**

**Explanation:**
- **Statement I** correctly states that under perfect competition, the demand curve is horizontal, making MR = P. This is because firms are price takers and selling additional units does not lower the price.
- **Statement II** is valid for imperfect competition (e.g., monopoly), where the demand curve is downward-sloping. To sell more units, the firm must lower the price for all units, resulting in MR < P.
- **Statement III** is incorrect because demand in imperfect competition is not vertical; it is downward-sloping. A vertical demand curve would imply no responsiveness to price changes, which does not apply here.

Thus, only **I and II** are correct, making **B** the right choice.
B
gpto1 B B
GPT-4o B. I and II. B
llama3.1-70B-Instruct

B
B
llama3.1-405B-Instruct

B. I and II.
The best answer is B.
B
DeepSeek-Coder-V2 B. I and II. B
Qwen2-72B-Instruct B. I and II. B
baichuan4 B. I and II. B
doubao B. I and II.

In perfect competition, the demand curve is horizontal, so MR = P. In monopoly or imperfect competition, the demand curve is downward sloping, and P > MR. Statement III is incorrect as demand is not a vertical function in imperfect competition.
B
minimax B. I and II. B
kimi B. I and II.

Under perfect competition, a firm is a price taker and cannot affect the market price. The marginal revenue (MR) is equal to the price (P) because the firm sells at the market price for every unit it produces. The demand curve is perfectly elastic and horizontal, which is represented by statement I.

Under monopoly or imperfect competition, firms have some degree of market power and can affect the market price. They face a downward sloping demand curve, which means that to sell more units, they must lower the price. As a result, the marginal revenue (MR) is less than the price (P) because the marginal revenue curve lies below the demand curve. This is represented by statement II.

Statement III is incorrect because it suggests that demand and price are represented as a vertical function for imperfect competition, which is not true. Imperfect competition does not necessarily imply a vertical demand curve; rather, it implies a downward sloping demand curve that is not perfectly elastic like in perfect competition.
B
wenxinyiyan B. I and II.

Explanation:

I. MR = P = demand on horizontal function for perfect competition.
This statement is correct. Under perfect competition, each firm faces a horizontal demand curve (i.e., demand is perfectly elastic). This means that no matter how much the firm produces, it can sell its output at the market price. Since the firm can sell any additional unit at the same price, its marginal revenue (MR) is equal to the price (P).

II. P > MR as downward sloping functions for imperfect competition.
This statement is also correct. Under imperfect competition (such as monopoly or monopolistic competition), the firm faces a downward-sloping demand curve. This means that to sell more output, the firm must lower its price. As a result, the marginal revenue (MR) from selling an additional unit of output is less than the price (P) of that unit. This is because when the firm sells more, it has to reduce the price of all its units, not just the additional one.

III. Demand and Price are represented as a vertical function for imperfect competition.
This statement is incorrect. A vertical demand curve would imply that the firm could sell any amount of output at the same price, which is the case under perfect competition. Under imperfect competition, the demand curve is downward-sloping, indicating that the firm must lower its price to sell more output.

Therefore, statements I and II correctly illustrate why price (P) equals marginal revenue (MR) under perfect competition and why price (P) is greater than marginal revenue under monopoly or imperfect competition.
B
zhipu B. I and II.

Explanation:
- Statement I is correct because under perfect competition, the firm is a price taker, and the demand curve is perfectly elastic (horizontal), meaning that the price (P) equals marginal revenue (MR).
- Statement II is correct because under monopoly or imperfect competition, the firm faces a downward-sloping demand curve, which means that to sell more units, the firm must lower the price, causing marginal revenue (MR) to be less than the price (P).
- Statement III is incorrect because the demand curve is not represented as a vertical function in imperfect competition; it is downward sloping.

Therefore, the correct answer is B, which includes statements I and II.
B
gpto1 B B