A monopolistically competitive firm chooses its

?Read the following extract from an article about monopolistic competition, and the questions followed.

?For each question 15—20, mark one letter (A, B, C, or D) on your Answer Sheet for the answer you choose.

Is the outcome in a monopolistically competitive market desirable from the standpoint of society as a whole? Can policymakers improve on the market outcome? There are no simple answers to these questions.

One source of inefficiency is the markup of price over marginal cost. Because of the markup, some consumers who value the good at more than the marginal cost of production (but less than the price) will be deterred from buying it. Thus, a monopolistically competitive market has the normal deadweight loss of monopoly pricing.

Although this outcome is clearly undesirable compared to the first-best outcome of price equal to marginal cost, there is no easy way for policymakers to fix the problem. To enforce marginal-cost pricing, policymakers would need to regulate all firms that produce differentiated products. Because such products are so common in the economy, the administrative burden of such regulation would be overwhelming. Moreover, the regulating monopolistic competitors would entail all the problems of regulating natural monopolies. In particular, because monopolistic competitors are making zero profits already, requiring them [% lower their prices to equal marginal cost would cause them to make losses. To keep these firms in business, the government would need to help them cover these losses. Rather than raising taxes to pay for these subsidies, policymakers may decide it is better to live with the inefficiency of monopolistic pricing.

Another way in which monopolistic competition may be socially inefficient is that the number of firms in the market may not be the "ideal" one. That is, there may be too much or too little entry. One way to think about this problem is in terms of the externalities associated with entry. Whenever a new firm considers entering the market with a new product, it considers only the profit it would make. Yet its entry would also have two external effects: a) The product-variety externality: Because consumers get some consumer surplus from the introduction of a new product, there is a positive externality associated with entry; b) The business-stealing externality: Because other firms lose customers and profits from the entry of a new competitor, there is a negative externality associated with entry. Thus in a monopolistically competitive market, there are both positive and negative externalities associated with the entry of new firms. Depending on which externality is larger, a monopolistically competitive market could have either too few or too many products. Both of these externalities are closely related to the conditions for monopolistic competition. The former arises because a new firm would offer a product different from those of the existing firms. The latter arises because firms post a price above marginal cost and, therefore, are always eager to sell additional units. Conversely, because perfectly competitive firms produce identical goods and charge a price equal to marginal cost, neither of these externalities exists under perfect competition.

In the end, we can conclude only that monopolistically competitive markets do not have all the desirable welfare properties of perfectly competitive markets. That is, the invisible hand does not ensure that total surplus is maximized under monopolistic competition. Yet because the inefficiencies are subtle, hard to measure, and hard to fix, there is no easy way for public policy to improve the market outcome.

Who will be prevented from buying the good?

A．Some consumers who also estimate the value of the good at more than the marginal cost of production.

B．Some consumers who estimate the price of the good at more than the marginal cost of the production.

C．Some consumers who have a high opinion of the good at more than the marginal cost of the production.

D．Some consumers who estimate the worth of the good at more than the marginal cost of the production.

Is the outcome in a monopolistically (垄断地) competitive market desirable from the standpoint of society as a whole? Can policymakers improve on the market outcome? There are no simple answers to these questions.

One source of inefficiency is the markup (涨价) of price over marginal cost. Because of the markup, some consumers who value the good at more than the marginal cost of production (but less than the price) will be deterred (被阻止) from buying it. Thus, a monopolistically competitive market has the normal deadweight loss of monopoly .pricing.

Although tins outcome is clearly undesirable compared to the first-best outcome of price equal to marginal cost, there is no easy way for policymakers to-fix the problem. To enforce marginal-cost pricing, policymakers would need to regulate all firms that produce differentiated products. Because such products are so common in the economy, the administrative burden of such regulation would be overwhelming. Moreover, the regulating monopolistic competitors would entail all the problems of regulating natural monopolies. In particular, because monopolistic competitors are making zero profits already, requiring them to lower their prices to equal marginal cost would cause them to make losses. To keep these firms in business, the government would need to help them cover these losses. Rather than raising taxes to pay for these subsidies, policymakers may decide it is better to live with tile inefficiency of monopolistic pricing

Another way in which monopolistic competition may be socially inefficient is that the number of firms in the market may not be the "ideal" one. That is, there may be too much or too little entry. One way to think about this problem is in terms of the externalities associated with entry. Whenever a new firm considers entering the market with a new product, it considers only the profit it would make. Yet its entry would also have two external effects: a) The product-variety externality: Because consumers get some consumer surplus from the introduction of a new product, there is a positive externality associated with entry b) The business-stealing externality: Because other firms lose customers and profits from the entry of a new competitor, there is a negative externality associated with entry. Thus in a monopolistically competitive market, there are both positive and negative externalities associated with the entry of new firms. Depending on which externality is larger, a monopolistically competitive market could have either too few or too many products. Both of these externalities are closely related to the conditions for monopolistic competition. The former arises because a new firm would offer a product different from those of the existing firms. The latter arises because firms post a price above marginal cost and, therefore, are always eager to sell additional units. Conversely, because perfectly competitive firms produce identical goods and charge a price equal to marginal cost, neither of these externalities exists under perfect competition.

In the end, we can conclude only that monopolistically competitive markets do not have all the desirable welfare properties of perfectly competitive markets. That is, the invisible hand does not ensure that total surplus is maximized under monopolistic competition. Yet because the inefficiencies are subtle, hard to measure, and hard to fix, there is no easy way for public policy to improve the market outcome.

Who will be prevented from buying the good?

A．Some consumers who also estimate the value of the good at more than the marginal cost of production.

B．Some consumers who estimate the price of the good at more than the marginal cost of the production.

C．Some consumers who have a high opinion of the good at more than the marginal cost of the production.

D．Some consumers who estimate the worth of the good at more than the marginal cost of the production.

Language is fantastically complex. Its built-in means of combining and recombining(nesting)of its various levels have【M1】______ suggested to many leading linguists that language is theoretically infinite though not practical so in everyday usage.【M2】______ It almost sounds too complex to be able to detect any significant leveling out of language any more than one could detect by observation that the sun is burning itself out. As far as I am conscious no linguist seriously purports that【M3】______ the restructuring process of language overrides the streamlining process resulted in a qualitative positive development of【M4】______ language. If we decide that language did originally develop, possibly evolving animal communication, we can only do【M5】______ so by assuming evolution to be a universally valid principle This type【M6】______ of a priori reasoning was the basic fallacy of pre-Nineteenth Century "speculative grammar" which was pre-scientific in modern【M7】______ sense of the word. However, the observable data neither indicate that such a【M8】______ period of pre-historic development even existed, nor they【M9】______ suggest a cause of the subsequent state of equilibrium or process of simplification that would have to have come into operation at some time after such a pre-historic development. Noam Chomsky, one of the most prominent linguists of the twentieth century, has indicated that human language and animal communication are not even comparative entities, they are so【M10】______ different.

【M1】

To stay economically competitive on a global scale, the United States needs 8 million more college graduates ___36___ That may sound impossible, ___37___ according to Education at a Glance 2013, the ___38___ international report on the state of education ___39___ Tuesday by the Organization for Economic Cooperation and Development (OECD), the ___40___ is still the world leader in producing college graduates. ___41___ , OECD data ___42___ that almost half of the world ’s university graduates come from three countries — the United States, China and Japan.

___43___ the 34 OECD countries, ___44___ 26 percent of the total 255 million college-educated ___45___ between the ages of 25 and 64 come from the United States. China comes in a distant second at 12.1 percent and Japan is a ___46___ third at 11.4 percent.

Global prosperity( 繁荣) won’t increase if only three nations ___47___ higher education output, so it ’s exciting to see that the number of students ___48___ to college increased 25 percent across all OECD countries ___49___ 1995 and 2012. If that ___50___ continues, 59 percent of young adults in those countries will go on to college, ___51___ 19 percent will enter vocational programs over their lifetimes.

The number of students who actually graduate ___52___ college has increased as well. In 2012, an average of 39 percent of students in OECD nations ___53___ college, up from 20 percent in 1995. Since college dropouts ___54___ the U.S. economy billions of dollars every year, an international increase in graduation ___55___ is good news for the entire planet.

36()

A.at

B.since

C.from

D.by

37()A.if

B.so

C.but

D.for

40()A.university

B.organization

C.nation

D.continent

42()A.appeals

B.exposes

C.emerges

D.shows

44()A.nearly

B.really

C.rarely

D.necessarily

45()A.objects

B.individuals

C.subjects

D.targets

46()A.close

B.counter

C.further

D.forward

48()A.confronting

B.encountering

C.longing

D.heading

49()A.including

B.between

C.excluding

D.toward

50()A.trend

B.currency

C.direction

D.distinction

51()A.so

B.while

C.before

D.because

52()A.for

B.against

C.from

D.in

53()A.tried

B.hunted

C.left

D.completed

54()A.give

B.cost

C.bring

D.plan

55()A.fee

B.benefits

C.rates

D.advantages

39()A.recovered

B.released

C.recommended

D.required

41()A.However

B.Otherwise

C.In fact

D.By the way

43()A.Above

B.Among

C.Beyond

D.Beneath

47()A.demonstrate

B.occupy

C.dominate

D.reach

38()A.annual

B.average

C.advanced

D.available

请帮忙给出每个问题的正确答案和分析，谢谢！

The author holds optimistically that with the aid of our knowledge and technology, we will eventually be able to find ways to prevent sudden changes in climates and avoid natural disasters.

A．Y

B．N

C．NG

Some men have been virtuous blindly, others have speculated fantastically, and others have been shrewd to bad purposes. (拆译法)

According the theory of kin selection, humans tend to act altruistically ______.

A．for the sake of desired reproduction.

B．out of self-interest.

C．on the request of natural selection.

D．because of kind nature.

According the theory of kin selection, humans tend to act altruistically ______.

A．for the sake of desired reproduction.

B．out of self-interest.

C．on the request of natural selection.

D．because of kind nature.

Noble gases are not very chemically