曼昆微观经济学课后练习英文答案完整版

曼昆微观经济学课后练

习英文答案

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the link between buyers’ willingness to pay for a good and the demand

curve.

how to define and measure consumer surplus.

the link between sellers’ costs of producing a good and the supply curve.

how to define and measure producer surplus.

that the equilibrium of supply and demand maximizes total surplus in a

market.

CONTEXT AND PURPOSE:

Chapter 7 is the first chapter in a three-chapter sequence on welfare economics and market efficiency. Chapter 7 employs the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. These concepts are then utilized in Chapters 8 and 9 to determine the winners and losers from taxation and restrictions on international trade.

The purpose of Chapter 7 is to develop welfare economics—the study of how the allocation of resources affects economic well-being. Chapters 4 through 6 employed supply and demand in a positive framework, which focused on the question, “What is the equilibrium price and quantity in a market” This chapter now addresses the normative question, “Is the equilibrium price and quantity in a market the best possible solution to the resource allocation problem, or is it simply the price and quantity that balance supply and demand” Students will discover that under most circumstances the equilibrium price and quantity is also the one that maximizes welfare.

KEY POINTS:

Consumer surplus equals buyers’ willingness to pay for a good minus the amount they actually pay for it, and it measures the benefit buyers get from participating in a market. Consumer surplus can be computed by finding the area below the demand curve and above the price.

Producer surplus equals the amount sellers receive for their goods minus their costs of production, and it measures the benefit sellers get from participating in a market. Producer surplus can be computed by finding the area below the price and above the supply curve.

An allocation of resources that maximizes the sum of consumer and producer surplus is said to be efficient. Policymakers are often concerned with the efficiency, as well as the equality, of economic outcomes.

The equilibrium of supply and demand maximizes the sum of consumer and

producer surplus. That is, the invisible hand of the marketplace leads

buyers and sellers to allocate resources efficiently.

Markets do not allocate resources efficiently in the presence of market failures such as market power or externalities.

CHAPTER OUTLINE:

I. Definition of welfare economics: the study of how the allocation of resources affects economic well-being.

A. Willingness to Pay

1. Definition of willingness to pay: the maximum amount that a buyer will pay for a good.

2. Example: You are auctioning a mint-condition recording of Elvis Presley’s first album. Four buyers show up. Their willingness to pay is as follows:

If the bidding goes to slightly higher than $80, all buyers

drop out except for John. Because John is willing to pay

more than he has to for the album, he derives some benefit

from participating in the market.

3. Definition of consumer surplus: the amount a buyer is willing to pay

for a good minus the amount the buyer actually pays for it.

4. Note that if you had more than one copy of the album, the price in the auction would end up being lower (a little over $70 in the case of two albums) and both John and Paul would gain consumer surplus.

B. Using the Demand Curve to Measure Consumer Surplus

1. We can use the information on willingness to pay to derive a demand

marginal buyer . Because the demand curve shows the buyers’ willingness to pay, we can use the demand curve to measure c onsumer surplus.

C. How a Lower Price Raises Consumer Surplus

surplus because they are paying less for the product than before (area A on the graph).

b. Because the price is now lower, some new buyers will enter the market and receive consumer surplus on these additional units of output purchased (area B on the graph).

D. What Does Consumer Surplus Measure?

1. Remember that consumer surplus is the difference between the amount that buyers are willing to pay for a good and the price that they actually pay.

2. Thus, it measures the benefit that consumers receive from the good as the buyers themselves perceive it.

III. Producer Surplus

A. Cost and the Willingness to Sell

1. Definition of cost: the value of everything a seller must give up to produce a good .

2. Example: You want to hire someone to paint your house. You accept bids

for the work from four sellers. Each painter is willing to work if the price

you will pay exceeds her opportunity cost. (Note that this opportunity cost

thus represents willingness to sell.) The costs are:

sellers will drop out except for Grandma. Because Grandma receives more than she would require to paint the house, she derives some benefit from producing in the market.

4. Definition of producer surplus: the amount a seller is paid for a good minus the seller’s cost of providing it.

5. Note that if you had more than one house to paint, the price in the auction would end up being higher (a little under $800 in the case of two houses) and both Grandma and Georgia would gain producer surplus.

ALTERNATIVE CLASSROOM EXAMPLE:

Review the material on price ceilings from Chapter 6. Redraw the

market for two-bedroom apartments in your town. Draw in a price

ceiling below the equilibrium price.

Then go through:

consumer surplus before the price ceiling is put into place. consumer surplus after the price ceiling is put into place. You will need to take some time to explain the relationship between the producers’ willingness to sell and the cost of producing the good. The relationship between cost and the supply curve is not as apparent as the relationship between the It is important to stress that consumer surplus is measured in

monetary terms. Consumer surplus gives us a way to place a

monetary cost on inefficient market outcomes (due to government

B. Using the Supply Curve to Measure Producer Surplus

1. We can use the information on cost (willingness to sell) to derive a

2.

the cost of the marginal seller. Because the supply curve shows the sellers’ cost (willingness to sell), we can use the supply curve to measure producer surplus.

C. How a Higher Price Raises Producer Surplus

surplus because they are receiving more for the product than before (area C on the graph).

b. Because the price is now higher, some new sellers will enter the market and receive producer surplus on these additional units of output sold (area D on the graph).

D. Producer surplus is used to measure the economic well-being of producers,

ALTERNATIVE CLASSROOM EXAMPLE:

Review the material on price floors from Chapter 6. Redraw the market

for an agricultural product such as corn. Draw in a price support

above the equilibrium price.

Then go through:

producer surplus before the price support is put in place.

producer surplus after the price support is put in place.

Make sure that you discuss the cost of the price support to

much like consumer surplus is used to measure the economic well-being of consumers.

IV. Market Efficiency

A. The Benevolent Social Planner

1. The economic well-being of everyone in society can be measured by total surplus, which is the sum of consumer surplus and producer surplus:

Total Surplus = Consumer Surplus + Producer Surplus

Total Surplus = (Value to Buyers – Amount Paid by

Buyers) +

(Amount Received by Sellers – Cost to Sellers)

Because the Amount Paid by Buyers = Amount Received by

Sellers:

2. Definition of efficiency: the property of a resource allocation of maximizing the total surplus received by all members of society .

3. Definition of equality: the property of distributing economic

prosperity uniformly the members of society .

a. Buyers who value the product more than the equilibrium price will

purchase the product; those who do not, will not purchase the product. In

other words, the free market allocates the supply of a good to the buyers who value it most highly, as measured by their willingness to pay.

b. Sellers whose costs are lower than the equilibrium price will produce the product; those whose costs are higher, will not produce the product. In

other words, the free market allocates the demand for goods to the sellers who can produce it at the lowest cost.

value of the product to the marginal buyer is greater than the cost to the marginal seller so total surplus would rise if output increases.

Pretty Woman, Chapter 6. Vivien (Julia Roberts) and Edward

(Richard Gere) negotiate a price. Afterward, Vivien reveals she

would have accepted a lower price, while Edward admits he would

have paid more. If you have done a good job of introducing

consumer and producer surplus, you will see the light bulbs go

b. At any quantity of output greater than the equilibrium quantity, the value of the product to the marginal buyer is less than the cost to the

marginal seller so total surplus would rise if output decreases.

3. Note that this is one of the reasons that economists believe Principle #6: Markets are usually a good way to organize economic activity.

C. In the News: Ticket Scalping

1. Ticket scalping is an example of how markets work to achieve an

efficient outcome.

2. This article from The Boston Globe describes economist Chip Case’s

experience with ticket scalping.

D. Case Study: Should There Be a Market in Organs?

1. As a matter of public policy, people are not allowed to sell their organs.

a. In essence, this means that there is a price ceiling on organs of $0.

b. This has led to a shortage of organs.

2. The creation of a market for organs would lead to a more efficient

allocation of resources, but critics worry about the equity of a market system for organs.

V. Market Efficiency and Market Failure

A. To conclude that markets are efficient, we made several assumptions about how markets worked.

1. Perfectly competitive markets.

2. No externalities.

B. When these assumptions do not hold, the market equilibrium may not be efficient.

C. When markets fail, public policy can potentially remedy the situation. SOLUTIONS TO TEXT PROBLEMS:

Quick Quizzes

1. Figure 1 shows the demand curve for turkey. The price of turkey is P 1

and the consumer surplus that results from that price is denoted CS. Consumer surplus is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it. It measures the benefit to buyers of

participating in a market.

Figure 1 Figure 2

2. Figure 2 shows the supply curve for turkey. The price of turkey is P 1

and the producer surplus that results from that price is denoted PS. Producer surplus is the amount sellers are paid for a good minus the sellers’ cost of providing it (measured by the supply curve). It measures the benefit to

sellers of participating in a market.

It would be a good idea to remind students that there are circumstances when the market process does not lead to the most efficient outcome. Examples include situations such as when a firm (or buyer) has market power over price or when there are

Figure 3

3. Figure 3 shows the supply and demand for turkey. The price of turkey is P

, consumer surplus is CS, and producer surplus is PS. Producing more turkeys 1

than the equilibrium quantity would lower total surplus because the value to the marginal buyer would be lower than the cost to the marginal seller on those additional units.

Questions for Review

1. The price a buyer is willing to pay, consumer surplus, and the demand curve are all closely related. The height of the demand curve represents the willingness to pay of the buyers. Consumer surplus is the area below the demand curve and above the price, which equals the price that each buyer is willing to pay minus the price actually paid.

2. Sellers' costs, producer surplus, and the supply curve are all closely related. The height of the supply curve represents the costs of the sellers. Producer surplus is the area below the price and above the supply curve, which equals the price received minus each seller's costs of producing the good.

Figure 4

3. Figure 4 shows producer and consumer surplus in a supply-and-demand diagram.

4. An allocation of resources is efficient if it maximizes total surplus, the sum of consumer surplus and producer surplus. But efficiency may not be the only goal of economic policymakers; they may also be concerned about equitythe fairness of the distribution of well-being.

5. The invisible hand of the marketplace guides the self-interest of buyers and sellers into promoting general economic well-being. Despite decentralized decision making and self-interested decision makers, free markets often lead to an efficient outcome.

6. Two types of market failure are market power and externalities. Market power may cause market outcomes to be inefficient because firms may cause price and quantity to differ from the levels they would be under perfect competition, which keeps total surplus from being maximized. Externalities are side effects that are not taken into account by buyers and sellers. As a result, the free market does not maximize total surplus.

Problems and Applications

1. a. Consumer surplus is equal to willingness to pay minus the price paid. Therefore, Melissa’s willingness to pay must be $200 ($120 + $80).

b. Her consumer surplus at a price of $90 would be $200 $90 = $110.

c. If the price of an iPod was $250, Melissa would not have purchased one because the price is greater than her willingness to pay. Therefore, she would receive no consumer surplus.

2. If an early freeze in California sours the lemon crop, the supply curve for lemons shifts to the left, as shown in Figure 5. The result is a rise in the price of lemons and a decline in consumer surplus from A + B + C to just A. So consumer surplus declines by the amount B + C.

Figure 5 Figure 6

In the market for lemonade, the higher cost of lemons reduces the supply of lemonade, as shown in Figure 6. The result is a rise in the price of lemonade and a decline in consumer surplus from D + E + F to just D, a loss of E + F. Note that an event that affects consumer surplus in one market often

has effects on consumer surplus in other markets.

3. A rise in the demand for French bread leads to an increase in producer surplus in the market for French bread, as shown in Figure 7. The shift of the demand curve leads to an increased price, which increases producer surplus

from area A to area A + B + C.

Figure 7

The increased quantity of French bread being sold increases the demand

for flour, as shown in Figure 8. As a result, the price of flour rises, increasing producer surplus from area D to D + E + F. Note that an event that affects producer surplus in one market leads to effects on producer surplus in related markets.

Figure 8

4. a.

Figure 9

b. When the price of a bottle of water is $4, Bert buys two bottles of water. His consumer surplus is shown as area A in the figure. He values his

first bottle of water at $7, but pays only $4 for it, so has consumer surplus of $3. He values his second bottle of water at $5, but pays only $4 for it, so has consumer surplus of $1. Thus Bert’s total consumer surplus is $3 + $1 = $4, which is the area of A in the figure.

c. When the price of a bottle of water falls from $4 to $2, Bert buys three bottles of water, an increase of one. His consumer surplus consists of both areas A and B in the figure, an increase in the amount of area B. He gets consumer surplus of $5 from the first bottle ($7 value minus $2 price), $3

from the second bottle ($5 value minus $2 price), and $1 from the third bottle ($3 value minus $2 price), for a total consumer surplus of $9. Thus consumer surplus rises by $5 (which is the size of area B) when the price of a bottle of water falls from $4 to $2.

5. a.

Figure 10

b. When the price of a bottle of water is $4, Ernie sells two bottles of water. His producer surplus is shown as area A in the figure. He receives $4 for his first bottle of water, but it costs only $1 to produce, so Ernie has producer surplus of $3. He also receives $4 for his second bottle of water, which costs $3 to produce, so he has producer surplus of $1. Thus Ernie’s total producer surplus is $3 + $1 = $4, which is the area of A in the figure.

c. When the price of a bottle of water rises from $4 to $6, Ernie sells three bottles of water, an increase of one. His producer surplus consists of both areas A and B in the figure, an increase by the amount of area B. He gets producer surplus of $5 from the first bottle ($6 price minus $1 cost), $3 from the second bottle ($6 price minus $3 cost), and $1 from the third bottle ($6 price minus $5 price), for a total producer surplus of $9. Thus producer surplus rises by $5 (which is the size of area B) when the price of a bottle of water rises from $4 to $6.

6. a. From Ernie’s supply schedule and Bert’s demand schedule, the

an equilibrium quantity of two.

b. At a price of $4, consumer surplus is $4 and producer surplus is $4, as shown in Problems 3 and 4 above. Total surplus is $4 + $4 = $8.

c. If Ernie produced one less bottle, his producer surplus would decline to $3, as shown in Problem 4 above. If Bert consumed one less bottle, his

consumer surplus would decline to $3, as shown in Problem 3 above. So total surplus would decline to $3 + $3 = $6.

d. If Ernie produced one additional bottle of water, his cost would be $5, but the price is only $4, so his producer surplus would decline by $1. If Bert consumed one additional bottle of water, his value would be $3, but the price is $4, so his consumer surplus would decline by $1. So total surplus declines by $1 + $1 = $2.

7. a. The effect of falling production costs in the market for stereos results in a shift to the right in the supply curve, as shown in Figure 11. As a result, the equilibrium price of stereos declines and the equilibrium

quantity increases.

Figure 11

b. The decline in the price of stereos increases consumer surplus from area A to A + B + C + D, an increase in the amount B + C + D. Prior to the shift in supply, producer surplus was areas B + E (the area above the supply curve and below the price). After the shift in supply, producer surplus is areas E + F + G. So producer surplus changes by the amount F + G – B, which may be positive or negative. The increase in quantity increases producer surplus, while the decline in the price reduces producer surplus. Because consumer surplus rises by B + C + D and producer surplus rises by F + G – B, total surplus rises by C + D + F + G.

c. If the supply of stereos is very elastic, then the shift of the supply curve benefits consumers most. To take the most dramatic case, suppose the supply curve were horizontal, as shown in Figure 12. Then there is no producer surplus at all. Consumers capture all the benefits of falling production costs, with consumer surplus rising from area A to area A + B.

Figure 12

8. Figure 13 shows supply and demand curves for haircuts. Supply equals demand at a quantity of three haircuts and a price between $4 and $5. Firms A, C, and D should cut the hair of Ellen, Jerry, and Phil. Oprah’s willingness

to pay is too low and firm B’s costs are too high, so they do not participate. The maximum total surplus is the area between the demand and supply curves, which totals $11 ($8 value minus $2 cost for the first haircut, plus $7 value minus $3 cost for the second, plus $5 value minus $4 cost for the third).

Figure 13

9. a. The effect of falling production costs in the market for computers results in a shift to the right in the supply curve, as shown in Figure 14. As a result, the equilibrium price of computers declines and the equilibrium quantity increases. The decline in the price of computers increases consumer surplus from area A to A + B + C + D, an increase in the amount B + C + D.

Figure 14 Figure 15

Prior to the shift in supply, producer surplus was areas B + E

(the area above the supply curve and below the price). After the

shift in supply, producer surplus is areas E + F + G. So producer

surplus changes by the amount F + G – B, which may be positive or

negative. The increase in quantity increases producer surplus,

while the decline in the price reduces producer surplus. Because

consumer surplus rises by B + C + D and producer surplus rises by

F +

G – B, total surplus rises by C + D + F + G.

b. Because typewriters are substitutes for computers, the decline in the price of computers means that people substitute computers for typewriters, shifting the demand for typewriters to the left, as shown in Figure 15. The result is a decline in both the equilibrium price and equilibrium quantity of typewriters. Consumer surplus in the typewriter market changes from area A + B to A + C, a net change of C – B. Producer surplus changes from area C + D + E to area E, a net loss of C + D. Typewriter producers are sad about technological advances in computers because their producer surplus declines.

c. Because software and computers are complements, the decline in the price and increase in the quantity of computers means that the demand for software increases, shifting the demand for software to the right, as shown in Figure 16. The result is an increase in both the price and quantity of software. Consumer surplus in the software market changes from B + C to A + B, a net change of A – C. Producer surplus changes from E to C + D + E, an increase of C + D, so software producers should be happy about the technological progress in computers.

Figure 16

d. Yes, this analysis helps explain why Bill Gates is one the world’s richest people, because his company produces a lot of software that is a complement with computers and there has been tremendous technological advance in computers.

10. a. With Provider A, the cost of an extra minute is $0. With

Provider B, the cost of an extra minute is $1.

b. With Provider A, my friend will purchase 150 minutes [= 150 –

(50)(0)]. With Provider B, my friend would purchase 100 minutes [=

150 – (50)(1)].

c. With Provider A, he would pay $120. The cost would be $100 with Provider B.

Figure 17

d. Figure 17 shows the friend’s demand. With Provider A, he buys 150

minutes and his consumer surplus is equal to (1/2)(3)(150) – 120

= 105. With Provider B, his consumer surplus is equal to

(1/2)(2)(100) = 100.

e. I would recommend Provider A because he receives greater consumer surplus.

11. a. Figure 18 illustrates the demand for medical care. If each procedure has a price of $100, quantity demanded will be Q1 procedures.

Figure 18

b. If consumers pay only $20 per procedure, the quantity demanded will be Q

procedures. Because the cost to society is $100, the number of procedures 2

performed is too large to maximize total surplus. The quantity that maximizes total surplus is Q1 procedures, which is less than Q2.

c. The use of medical care is excessive in the sense that consumers get procedures whose value is less than the cost of producing them. As a result, the economy’s total surplus is reduce

d.

d. To prevent this excessive use, the consumer must bear the marginal cost of the procedur

e. But this would require eliminating insurance. Another possibility would be that the insurance company, which pays most of the marginal cost of the procedure ($80, in this case) could decide whether the procedure should be performed. But the insurance company does not get the benefits of the procedure, so its decisions may not reflect the value to the consumer.

微观经济学试题库(含答案)

一、单选题（70题） 1. 下列哪一种资源是最不具有稀缺性的（） A．医生；B．苹果；C．铁矿石；D．空气； 2. 下列中的哪一个问题是最有可能被微观经济学家所研究的（） A. 一般物价的膨胀； B. 整个经济中的失业； C. 总产出的增长率； D. 汽车行业中的劳动就业； 3. 下列中的哪一个属于规范经济问题（） A. 通货膨胀和失业是由什么引起的 B. 政府应该雇用所有失业的工人吗 C. 消费者如何对较低的价格做出反应 D. 收入与储蓄之间的关系是什么 4. 经济学有时被称作社会科学的皇后，这是因为：（） A.它强调经济增长和经济发展； B. 几乎所有的学生都必须学习经济学； C. 它的边际分析方法广泛应用于其他学科； D. 规范经济学和实证经济学的区别。 5. 经济学家的理性行为假定：（） A.仅仅在其提供有效预测的限度内才是有用的。 B.导致错误的理论，因为人们并非总是理性的。 C.只有当所有人都是理性的，才是有用的。 D.不管人们是否为理性的，都是有效的。 6. 微观经济学研究（），宏观经济学研究（）。 A．现实的经济问题，抽象的经济理论；B．个量经济，总量经济 C．理性行为，非理性行为；D．企业行为，政府行为 7．经济学可定义为（）。 A．政府对市场制度的干预 B.企业赚取利润的活动 C.研究稀缺资源如何有效配置的问题 D.个人的生财之道 8．“资源是稀缺的”是指（） A．资源是不可再生的 B.资源必须留给下一代 C.资源终将被耗费殆尽 D.相对于需求而言,资源总是不足的. 9．失业问题如果反映在生产可能性曲线图上，可记为（） A．生产可能性曲线内的一点 B.生产可能性曲线上的一点

微观经济学试题库(含答案)

第一章引论 一、单选题(70题) 1、下列哪一种资源就是最不具有稀缺性的?( ) A.医生; B.苹果; C.铁矿石; D.空气; 2、下列中的哪一个问题就是最有可能被微观经济学家所研究的?( ) A、一般物价的膨胀; B、整个经济中的失业; C、总产出的增长率; D、汽车行业中的劳动就业; 3、下列中的哪一个属于规范经济问题? ( ) A、通货膨胀与失业就是由什么引起的? B、政府应该雇用所有失业的工人不? C、消费者如何对较低的价格做出反应? D、收入与储蓄之间的关系就是什么? 4、经济学有时被称作社会科学的皇后,这就是因为:( ) A、它强调经济增长与经济发展; B、几乎所有的学生都必须学习经济学; C、它的边际分析方法广泛应用于其她学科; D、规范经济学与实证经济学的区别。 5、经济学家的理性行为假定:( ) A、仅仅在其提供有效预测的限度内才就是有用的。 B、导致错误的理论,因为人们并非总就是理性的。 C、只有当所有人都就是理性的,才就是有用的。 D、不管人们就是否为理性的,都就是有效的。 6、微观经济学研究( ) ,宏观经济学研究( )。

A.现实的经济问题,抽象的经济理论; B.个量经济,总量经济 C.理性行为,非理性行为; D.企业行为,政府行为 7.经济学可定义为( )。 A.政府对市场制度的干预B、企业赚取利润的活动 C、研究稀缺资源如何有效配置的问题 D、个人的生财之道 8.“资源就是稀缺的”就是指( ) A.资源就是不可再生的B、资源必须留给下一代 C、资源终将被耗费殆尽 D、相对于需求而言,资源总就是不足的、 9.失业问题如果反映在生产可能性曲线图上,可记为( ) A.生产可能性曲线内的一点B、生产可能性曲线上的一点 C、生产可能性曲线以外的一点 D、不在该平面直角坐标系上、 10.下列哪一项会导致一国生产可能性曲线的外移？( ) A.股市持续走强B、通货膨胀 C、有用资源被发掘或技术进步 D、消费品生产增加,资本品生产下降、 11.一个经济体系必须作出的基本选择就是( )。 A.生产什么,生产多少B、如何生产C、为谁生产D、以上都包括 12.计划经济体制解决资源配置问题的方式有( )。 A.分散决策B、竞争生产C、纵向传递信息D、要素市场定价 13.在市场经济体制中,价格不发挥哪个功能( )？ A.激励功能B、集中资源办大事C、收入再分配功能D、信息传递功能 14、下列哪个陈述不属于实证主义陈述( )? A、1990年的海湾危机引起石油价格上升,并导致了汽油消费的下降。

最新版微观经济学精品习题英文版 (with answer) (9)

Chapter 9 Application: International Trade 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. _ __ 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. _ __ 1. Nations would gain from trade if a(n) ________ exists. ( c ) a.absolute advantage b.specialization https://www.wendangku.net/doc/5511693238.html,parative advantage d.infant industry 2. If Canada has a comparative advantage over Denmark in the production of wood, this implies that ( b ) a.it requires fewer resources in Canada than in Denmark to produce wood. b.the opportunity cost of producing wood in Canada is lower than in Denmark. c.Denmark does not benefit by trading with Canada. d.Canada should buy wood from Denmark. 3. Domestic producers gain from the opportunity to export goods to foreign countries because ( a ) a.the free-trade price of the good is higher than the domestic price in the absence of trade. b.producers are able to reach a wider market. c.although the free-trade price is lower than in the absence of trade, producers are able to sell a greater quantity. d.production rises, although there is no change in the price of the good compared to the no-trade situation. 4. If at the world equilibrium price the U.S. quantity demanded is greater than the U.S. quantity supplied, then ( a ) a.the United States will import the good. b.the United States will export the good. c.the world price will fall. d.the world price will ris e.

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Ch 1 Ten Principles of economic ?Scarcity: the limited nature of society’s resources ?Economics: the study of how society manages its scarce resources, e.g. ?There are 10 principle of economic which are needed to be remember throughout. ?People face trade-off 1. Individual(time,money) and society(efficiency vs equality). ?Cost of something is what your give up to get it.\ 1. The opportunity cost of any item is whatever must be given up to obtain it. ?Rational people thinking at margin(effect of one additional item) 1. This principle assume that everyone is rational people(made their decision base on their interests) this was addressed on Adam Smith's Wealth of Nation. ?People respond to incentives(诱惑物） 1. This statement reveals that human psychology is a important feature in economic study. ?Trade can make everyone better-off 1.Ex: trade of agricultural product and technology between Japan and America, it will break the law of PPF. It involved absolute advantages(low input) and comparative advantage(low opportunity cost win) ?Markets are usually a good way to organize economy activity. 1.Markets can balance the price. ?Government can sometime improve market outcome. ? A country's standard of living depends on its ability to produce goods and services. ?Price rise when government print too much money.

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计算题: 1、 已知某厂商的生产函数为:Q=L 3/8K 5/8,又设P L =3,P K =5。 ⑴、 求产量Q=10时的最低成本支出与使用的L 与K 的数量。(5分) ⑵、 求产量Q=25时的最低成本支出与使用的L 与K 的数量。(5分) 求总成本为160时,厂商均衡的Q 、K 、L 的值。(5分) 2、 已知生产函数为:Q=L 0、 5K 0、 5,试证明: ⑴、 该生产过程就是规模报酬不变。(7分)⑵它受边际报酬递减规律的支配。 3、甲、乙两公司的产品的需求曲线分别为Q 1=200-0、2P 1,Q 2=400-0、25P 2,这两家公司现在的销售量分别为100与250。 (1)求甲、乙两公司当前的价格弹性？ (2)假定乙公司降价后,使乙公司的销售量增加到300,同时又导致甲公司的销售量下降到75,问甲公司产品的交叉弹性就是多少？ 4、垄断厂商的成本函数为TC=Q 2+2Q,产品的需求函数为P=10-3Q,求: (1)利润极大的销售价格、产量与利润; (2)若政府试图对该垄断厂商采取限价措施,迫使其按边际成本定价,求此时的价格与厂商的产量、利润; (3)求解收支相抵的价格与产量。 5、 假设某完全竞争厂商使用劳动与资本两种生产要素进行生产,在短期内,劳动的数量可变,资本的数量固定。厂商的成本曲线为322()161803 LTC Q Q Q Q =-+与 32 ()224120400STC Q Q Q Q =-++,试计算:(1)厂商预期的长期最低价格就是多少？ (2)如果要素价格不变,在短期内,厂商会维持经营的最低产品价格就是多少？ (3)如果产品价格就是120元,那么在达到短期均衡时,厂商将生产多少产品？获得的利润就是多少？ 6、 、 已知某消费者的效用函数U ＝XY,她打算购买X 与Y 两种商品,当其每月收入为120元,Px=2元,Py=3元时,试问: (1)为获得最大的效用,该消费者应如何选择商品X 与Y 的消费数量？ (2)假设商品X 的价格提高44％,商品Y 的价格保持不变,该消费者必须增加多少收入才能保持原有的效用水平？ 7、已知某一时期内商品的需求函数为Q d =50-5P ,供给函数为Q s =-10+5P 。 (1)求均衡价格P e 与均衡数量Q e ,并作出几何图形。 (2)假定供给函数不变,由于消费者收入水平提高,使需求函数变为Q d=60-5P 。求出相应的均衡价格P e 与均衡量Q e ,并作出几何图形。 (3)假定需求函数不变,由于生产技术水平提高,使供给函数变为Q s =-5+5P 。求出相应的均衡价格P e 与均衡量Q e ,并作出几何图形。 8、假定表2—5就是需求函数Q d =500-100P 在一定价格范围内的需求表: (2)根据给出的需求函数,求P=2元时的需求的价格点弹性。 9假定表2—6就是供给函数Qs=-3+2P 在一定价格范围内的供给表: (1)求出价格3元与5元之间的供给的价格弧弹性。 (2)根据给出的供给函数,求P=4元时的供给的价格点弹性。

微观经济学试卷及答案

微观经济学试卷一 一、单项选择题（每题2分，共30分） 1．资源稀缺是指（）。 A．世界上大多数人处于贫困之中B．相对于人们的欲望而言，资源是不足的 C．资源要保留给我们的未来D．资源最终会被耗光 2．已知某商品的需求函数和供给函数分别为：QD=14-3P，QS=2+6P,该商品的均衡价格是（）。A．4/3 B．4/5 C．2/5 D．5/2 3．总效用曲线达到顶点时（） A．边际效用曲线达到最大点B．边际效用为零 C．边际效用为正D．边际效用为负 4．假定某企业全部成本函数为TC=30000+5Q-Q2，Q为产出数量。那么TVC为（）A．30000 B．5Q-Q2 C．5-Q D．30000/Q 5．生产要素的需求曲线之所以向右下方倾斜，是因为（） A．要素的边际产品价值递减B．要素生产的产品的边际效用递减 C．要素参加生产的规模报酬递减D．以上均不正确 6．在完全竞争市场上（） A．产品有差别B．产品无差别C．有的有差别，有的无差别D．以上说法都对7．完全竞争市场的厂商短期供给曲线是指（） A．A VC >SMC中的那部分A VC曲线B．AC > SMC中的那部分AC曲线 C．SMC≥A VC那部分SMC曲线D．SMC≥AC那部分SMC曲线 8．已知一元钱的边际效用为3个单位，一支钢笔的边际效用为36个单位，则消费者愿意花（）购买这支钢笔A．12元B．36元C．3元D．108元 9．一般来说，香烟的蛛网形状是（） A．收敛型B．发散型C．封闭型D．不确定 10．已知X、Y两种商品的交叉弹性为1.8，则这两种商品为 A．独立品B．替代品C．补充品D．不能确定 11．如果商品的需求弹性为0.6供给弹性为1.5，则销售税（） A．主要由消费者承担B．主要由生产者负担 C．由生产者和消费者均等地负担D．全部由生产者负担 12．某旅游景点，对一般参观者门票为50元，对中小学生门票为25元，这种价格策略为( )。A．一级差别价格B．二级差别价格C．三级差别价格D．无差别价格13．当X商品的价格下降时，替代效应=+2，收入效应=-1，则该商品很可能是（）。A．正常商品B．一般低档商品C．吉芬商品D．奢侈品 14．已知某商品的需求量增加80%，而同期消费者的收入却增加了40%，则该商品很可能是（）。A．必需品B．奢侈品C．一般低档商品D．吉芬商品15．已知某商品的需求价格弹性为1.2，供给价格弹性为1，则价格波动形成的蛛网形状是（）。A．收敛型B．发散型C．封闭型D．不能确定 二、名词解释（每题5分，共40分） 1．需求的价格弹性（Price elasticity of demand） 2．边际效用（Marginal Utility） 3．消费者均衡（Consumer`s equilibrium） 4．无差异曲线（Indifference curve） 5．吉芬物品（Giffen good）

曼昆微观经济学课后练习英文答案完整版

曼昆微观经济学课后练 习英文答案 集团标准化办公室：[VV986T-J682P28-JP266L8-68PNN]

the link between buyers’ willingness to pay for a good and the demand curve. how to define and measure consumer surplus. the link between sellers’ costs of producing a good and the supply curve. how to define and measure producer surplus. that the equilibrium of supply and demand maximizes total surplus in a market. CONTEXT AND PURPOSE: Chapter 7 is the first chapter in a three-chapter sequence on welfare economics and market efficiency. Chapter 7 employs the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. These concepts are then utilized in Chapters 8 and 9 to determine the winners and losers from taxation and restrictions on international trade. The purpose of Chapter 7 is to develop welfare economics—the study of how the allocation of resources affects economic well-being. Chapters 4 through 6 employed supply and demand in a positive framework, which focused on the question, “What is the equilibrium price and quantity in a market” This chapter now addresses the normative question, “Is the equilibrium price and quantity in a market the best possible solution to the resource allocation problem, or is it simply the price and quantity that balance supply and demand” Students will discover that under most circumstances the equilibrium price and quantity is also the one that maximizes welfare.

英文版微观经济学复习提纲Chapter 5. Economic efficiency, government price setting and taxes

5 Economic Efficiency, Government Price Setting, and Taxes Chapter Summary Although rent controls no longer in Australia, many governments around the world, such as Malaysia and the U.S., have placed ceilings on the maximum rent some landlords can charge for some apartments and houses. Governments also impose taxes in some markets. To understand the economic impact of government in markets it is necessary to understand consumer surplus and producer surplus. Consumer surplus is the dollar benefit consumers receive from buying goods and services at market prices less than the maximum prices they would be willing to pay. Producer surplus is the dollar benefit producers receive from selling goods and services at prices greater than the minimum prices they would be willing to accept. In a competitive market with no externalities the equilibrium price for a good or service occurs where the marginal cost of the last unit produced and sold is equal to the marginal benefit consumers receive from the last unit bought. At this same level of output, economic surplus, the sum of consumer and producer surplus, is maximized. Although price controls on rent no longer exist in Australia, there are many other examples of the government setting prices, such as the minimum wage in labour markets (a “floor price”). Compared to the competitive equilibrium, price ceilings and price floors reduce economic efficiency. A tax on the sale of a good or service also reduces economic efficiency. The burden of a tax (or tax incidence) is the degree to which consumers or producers actually pay the tax. The incidence of a tax depends on how responsive producers and consumers are to the price change caused by the tax. Learning Objectives When you finish this chapter you should be able to: 1Understand the concepts of consumer surplus and producer surplus. Consumer surplus is the benefit consumers receive from paying a price lower than the maximum price they would be willing to pay. Producer surplus is the benefit a firm receives from selling a good or a service at a price higher than the minimum the firm would be willing to accept. Economic surplus is the sum of consumer surplus plus producer surplus. 2Understand the concept of economic efficiency, and use a graph to illustrate how economic efficiency is reduced when a market is not in competitive equilibrium. An economically efficient outcome occurs when a competitive market equilibrium is reached. Maximum economic efficiency results when the marginal benefit received by consumers from the last unit bought equals the marginal