Microeconomics_chapter_16
微观经济学(全部)
第五节 生产可能性曲线和机会成本 一、生产可能性曲线
（Production possibility curve） ） 在生产技术和资源既定的条件下， 在生产技术和资源既定的条件下，生产两种商 品的最大可能组合的轨迹。 品的最大可能组合的轨迹。 1.生产可能性表
各种可能性组合 A B C D E 棉衣(X商品) 产量 0 1 000 2 000 3 000 4 000 棉被(Y商品)产量 200 180 140 80 0
x年x月x日某商品的需求表 年 月 日某商品的需求表
价格数量关系
价格（元）
A
B
C
D
EFG1Fra bibliotek2 600
3 500 P 7 6
4 400
5 300
6
7
需求量（单位数）700
200 100
2) 需求函数 Qd = f（p） （ ） Qd=800-100p 3) 需求曲线
A B C
Qd=800-100p D E F
1. 微观经济学（Microeconomics） 微观经济学（ ） 2. 宏观经济学 （Macroeconomics） ） 3. 国际经济学（International Economics） ） 参考教材： 参考教材： 现代西方经济学教科书》 《现代西方经济学教科书》
全国二十所高校合编 陕西人民出版社
《现代西方经济学习题集指南》 现代西方经济学习题集指南》
微观经济学） 宏观经济学） （微观经济学），（宏观经济学） 尹伯成 主编 复旦大学出版社
《西方经济学习题精编》陈恳 吴卫华 西方经济学习题精编》 《Principles of Economics》 》
主编 高等教育出版社
N.Gregory Mankiw [美] 曼昆 著 梁小民 译 美 曼昆/著 梁小民/译 北京大学出版社
Microeconomics课程试卷A
Microeconomics课程试卷A一、选择题：（共15小题，每小题2分，共30分）1. A Giffen good:A. has an upward-sloping demand curve.B. has a downward-sloping demand curve.C. has a horizontal demand curve.D. has a vertical demand curve.2. The consumer optimum occurs at:A. any point of intersection between the budget line and an indifference curve.B. a point of tangency between the budget line and an indifference curve.C. the point where the slope of the indifference curve equalsthe ratio of the quantities.D. a point where the budget line cuts the curve from below.3. The slope of the budget constraint line is equal to:A. the ratio of marginal utilities.B. the ratio of money income to the price of the good on the horizontal axis.C. the ratio of money income to the price of the good on the vertical axis.D. the relative price of the two goods—the price of one good compared with the price of the other.4.Assume the demand curve for compact discs slopes downwards,and the supply curve slopes upwards. If the price of CD players decreases, then:A. the equilibrium price of compact discs will fallB. the equilibrium price of compact discs will riseC. the equilibrium price of compact discs will stay the sameD. None of the above are correct5. Implicit costs are:A. the payments made to labour only.B. the payments made by the firm to others.C. the opportunity cost of resources owned by the firm.D. the same as accounting profit.6. When a firm's cost curves exhibit economies of scale:A. the long-run average cost curve is horizontal.B. the long-run average cost curve is downward-sloping.C. the long-run average cost curve is upward-sloping.D. the long-run average cost equals the short-run average costfor all levels of output.7. Economic profits for perfectly competitive firms:A. will continue in the long run for a few efficient firms.B. will shift the industry demand function rightward.C. will attract new firms into the industry in the long run.D. will result in an increase in long-run equilibrium price.8.If the demand for milk increases when the price of pickles increases (ceteris paribus), then milk and pickles are(A) normal goods. (B) inferior goods.(C) substitutes in consumption. (D) complements in consumption.9.The quantity that a firm is willing and able to produce and make available for sale at each possible price (in a series of prices) is represented by the(A) demand curve. (B) supply curve.(C) marginal product curve. (D) production possibilities curve10.If the quantity demanded of bananas increases by 10% when its price decreases by 25%, then the price elasticity of banana demand, Ed, is(A) 0.15. (B) 0.35. (C) 0.4. (D) 1.25.11. The demand for a good will be more elastic the(A). More the good is considered a luxury.(B). More narrowly defined the market (e.g. hamburger versus beef).(C). The longer the time period being considered.(D). All of the above12. A government-imposed maximum price at which a good or service can be sold is called a price(A). Ceiling (B). Floor (C). Equilibrium (D). Support13.If, at a given quantity of labor, MPL is greater than APL, then(A) APL is increasing. (B) APL is decreasing.(C) TPL is at a maximum. (D) APL is at a maximum.14. Which of the following industries is closest to perfect competition?A. steelB. autoC. wheatD. aluminum15. An oligopolistic market(A) has a small number of rival firms, and each is large relative to the market.(B) makes the demand for each firm independent of the actions of its rivals.(C) has low entry barriers facing firms that could otherwise enter themarket.(D) is all of the above.二、判断题：（共10小题，每小题1分，共10分）1. According to the Law of Demand, a decrease in the price of soda increases the demand demanded for soda.2. If beer is an inferior good for a consumer named Fred, then (ceteris paribus) a decrease in Fred's income decreases his demand for beer.3. If coffee and tea are substitutes in consumption, then an increase in the price of tea decreases both the quantity demanded and the supply of coffee.4. If cheese demand is relatively inelastic, then an increase in the supply of cheese will increase the income (total revenue) of cheese producers.5 In the long run all costs can vary.6 If average fixed cost is $50 at an output of 20 units, it would decline to $25 if output were increased to 40 units.7. A perfectly competitive firm faces a downward-sloping, relatively elastic demand curve .8. A perfectly competitive firm's SR supply curve is given by the firm's MC curve for market prices above the minimum of the AVC curve.9. A perfectly competitive industry is in LR equilibrium when every firm produces at its profit maximizing output level.10. Monopolists can control the price.三、名词解释（共5小题，每小题3分，共15分）1.Scarcity 2 Total Revenue 3.Marginal Cost4.Consumer surplus 5 A monopoly四、简述题（共2小题，每题9分，共18分）1. What is Indifference Curve? What are the Properties of Indifference Curve?2 A subsidy is the opposite of a tax. With a $0.50 tax on the buyers of ice-cream cones, the government collects $0.50 for each cone purchased; with a $0.50 subsidy for the buyers of ice-cream cones, the government pays buyers $0.50 for each cone purchased.a. Show the effect of a $0.50 per cone subsidy on the demand curve for ice-cream cones, the effective price paid by consumers, the effective price received by sellers, and the quantity of cones sold.b. Do consumers gain or lose from this policy? Do producers gain or lose? Does the government gain or lose?五、计算题（共3小题，每小题9分，共27分）1. Suppose that business travelers and vacationers have the followingelasticity of demand for (i) business travelers and (ii) vacationers? (Use the midpoint method in your calculations.)b. Why might vacationers have a different elasticity than business travelers?2 Suppose a firm has got such short run cost functioin:TC(Q)=Q3-10Q2+17Q+66.(1) Is the firm’s production in the short run or long run? why?(2) What is TVC(Q)? (3) What is AVC(Q)? (4) What is AFC(Q)? (5) What is MC(Q)?produce to maximize profit?b. Calculate marginal revenue and marginal cost for each quantity. Graph them. (Hint: Put the points between whole numbers. For example, the marginal cost between 2 and 3 should be graphed at 2 1/2.) At what quantity do these curves cross? How does this relate to your answer to part (a)?c. Can you tell whether this firm is in a competitive industry? If so, can you tell whether the industry is in a long-run equilibrium?江西农业大学Microeconomics试卷A答案(本试题要求考生尽量用英文回答；如部分考生由于英语水平有限，有的题目用中文答题，也可酌情给分)一、选择题：（共15小题，每小题2分，共30分）1.A2.B3.D4.B5.C6.B7.C8.C9.B 10.C 11.D 12.A 13.A 14.C 15.A二、判断对错：（共10小题，每小题1分，共10分）1.T2.F3.F4.T5.T6.T7.F8.T9.F 10.T三、名词解释（共5小题，每小题3分，共15分）1.Scarcity: means that society has less resources to offer than people wish to have.2 Total Revenue: The sum of the payments that the firm receives from thesale of its output.3.Marginal Cost: MC is the change in total cost due to the production ofone more unit of output4.Consumer surplus:The difference between what a consumer is willing topay and what she has to pay.5.A monopoly is the sole seller of its product and its product does not have close substitutes.四、简述题（共2小题，每题9分，共18分）1. What is Indifference Curve? What are the Properties of Indifference Curve?An indifference curve depicts bundles of goods that leave the consumer equally well-off. It shows the combinations of goods that give the consumer a constant level of utility.(1)Higher indifference curves are preferred to lower ones. (The further from the origin, the higher the utility)(2)Indifference curves are downward sloping. (Negatively sloped--slope is MRS)(3)Indifference curves do not cross. (Cannot intersect)(4)Indifference curves are bowed inward. (Convex shaped-------diminishing MRS)2 A subsidy is the opposite of a tax. With a $0.50 tax onthe buyers of ice-cream cones, the government collects $0.50 for each cone purchased; with a $0.50 subsidy forthe buyers of ice-cream cones, the government pays buyers $0.50 for each cone purchased.a. Show the effect of a $0.50 per cone subsidy on the demand curve for ice-cream cones, the effective price paid by consumers, the effective price received by sellers, and the quantity of cones sold.b. Do consumers gain or lose from this policy? Do producers gain or lose? Does the government gain or lose?a. The effect of a $0.50 per cone subsidy is to shift the demand curve up by $0.50 at each quantity, since at each quantity a consumer's willingness to pay is $0.50 higher. The effects of such a subsidy are shown in Figure 14. Before the subsidy, the price is P1. After the subsidy, the price received by sellers is PS and the effective price paid by consumers is PD, which equals PS minus 50 cents. Before the subsidy, the quantity of cones sold is Q1; after the subsidy the quantity increases to Q2.b. Because of the subsidy, consumers are better off, since they consume more at a lower price. Producers are also better off, since they sell more at a higher price. The government loses, since it has to pay for the subsidy.五、计算题（共3小题，每小题9分，共27分）1. a. For business travelers, the price elasticity of demand when the price of tickets rises from $200 to $250 is [(2,000 -1,900)/1,950]/[(250 - 200)/225] = 0.05/0.22 = 0.23. For vacationers, the price elasticity of demand when the price of tickets rises from $200 to $250 is [(800 - 600)/700] / [(250 - 200)/225] = 0.29/0.22 = 1.32.b. The price elasticity of demand for vacationers is higher than the elasticity for business travelers because vacationers can choose more easily a different mode of transportation (like driving or taking the train). Business travelers are less likely to do so since time is more important to them and their schedules are less adaptable.2 (1)The firm’s production is in the short run. Because there is fixed cost 66, which doesn't change with the quantity of output.(2)TVC(Q)= Q3-10Q2+17Q (3)AVC(Q)= Q2-10Q+17(4) AFC(Q)= 66/Q (5) MC(Q)=3Q2-20Q+173.Here’a.b. Marginal revenue and marginal cost are graphed in Figure 3. The curves cross atquantity between 5 and 6 units, yielding the same answer as in part (a).c.This industry is competitive since marginal revenue is the same foreach quantity. The industry is not in long-run equilibrium, since profit is positive.。
MicroeconomicPETITION教材教学课件
寡头市场
定义与特点
寡头市场是指市场上存在少数几个卖者，产品具有一定差异性，市场进入存在较高障碍的 市场结构。
均衡价格与数量
在寡头市场下，均衡价格和数量由少数几个卖者之间的竞争关系决定。这些卖者通常会采 取策略性行为来影响市场价格和数量。
厂商行为
在寡头市场下，厂商之间的竞争通常表现为非价格竞争，如广告、品牌、产品质量等方面 的竞争。厂商也会采取价格歧视、合谋等策略性行为来获取更多利润。
04
生产者行为理论
生产函数与边际产量
01
02
03
生产函数
描述在一定技术条件下， 生产要素的投入量与最大 产出量之间的函数关系。
边际产量
在其他生产要素投入量不 变的情况下，增加一单位 某种生产要素投入所带来 的总产量的增加量。
生产函数的类型
线性生产函数、二次生产 函数、柯布-道格拉斯生产 函数等。
微观经济政策与实践
介绍价格管制、税收、补贴等微 观经济政策及其在实践中的应用 。
02
市场供需与价格机制市场需求与供给8Fra bibliotek%市场需求
指在一定时间内和一定价格条件 下，消费者对某种商品或服务愿 意而且能够购买的数量。
100%
市场供给
指在一定时间内和一定价格条件 下，生产者愿意并可能出售的某 种商品或服务的数量。
08
总结与展望
本课程重点内容回顾
微观经济学基本概念
包括需求、供给、市场均衡、 消费者行为、生产者行为等。
市场结构分析
完全竞争、垄断、寡头和垄断 竞争市场的特点、效率和定价 策略。
博弈论与竞争策略
博弈论的基本概念、纳什均衡 、囚徒困境以及竞争策略的应 用。
Intermediate+Microeconomics英文讲义Chapter16
Chapter 16EquilibriumA.Supply curves —measure amount the supplier wants to supply at each price()pSS=.1.It is not really necessary to know where the supply curve or the demand curvecomes from in terms of the optimizing behavior that generates the curves. See Figure 6.11. It is enough to know that a functional relationship between the price and the quantity that consumers want to demand or supply.2.Through the summation of horizontal individual demand curves, we obtainmarket demand curve. Similarly, we can add up their individual supply curves to get the market supply curve.3.With market demand curve and market supply curve, we find the equilibriumprice and quantity.B.EquilibriumThe market we talk about is competitive market.petitive market — each agent takes prices as outside of his or her control.a)many small agents, they have a negligible effect on the market price.b) a few agents who think that the others keep fixed prices2.equilibrium price— that price where desired demand equals desired supply.a)D(p*) = S(p*), solve this equation, we can obtain the equilibrium price *p,and equilibrium quantity *q.3.special cases — Figure 16.1.a)vertical supply—quantity determined by supply, price determined by demandb)horizontal supply—quantity determined by demand, price determined by ?c)In these two special cases, the determination of price and quantity can beseparated. In the general cases, equilibrium price and equilibrium quantity arejointly determined by the demand and supply curves.16.014.an equivalent definition of equilibrium: where inverse demand curve crossesinverse supply curvea)*)(*)(qPqPsd=, the left hand side is inverse demand function, the right hand side is inverse supply curve.5.examples with linear curvesSuppose the demand function: ()bpapD-=, inverse demand function:()b qaqPd -=; Supply curve: ()dpcpS+=, inverse supply curve: ()dcqqPs-=.Setting the demand price equal to the supply price and solving for the equilibrium quantity we have()()q P d cq b q a q P s d =-=-=d b bcad q ++=* and d b c a p +-=*C. Comparative staticsWe can see how equilibrium will change as the demand and supply curves change.1. shift each curve separatelythe demand curve shifts to the right in a parallel way ―some fixed amount more is demanded at every price. The equilibrium price and equilibrium quantity must both rise.2. shift both curves togetherBoth shift to the left by the same amount m . The equilibrium price will not change and the equilibrium quantity sold simply drops by m. 16.02()()mp S m p D -=- So the equilibrium price will not change.D. Taxes — nice example of comparative statics1. demand price and supply price — different in case of taxes2. quantity tax : a tax levied per unit of quantity bought or sold. The demander ispaying d P per unit, the supplier is getting t P P d s -=, or t P P s d +=. So when atax is imposed, there are always two prices: the price paid by the demanders and the price received by the suppliers. The difference is the amount of the tax.3. equilibrium happens when )()(s d p S p D =The amount supplied will depend on the supply price —the amount the supplier actually gets after paying the tax, and the amount demanded will depend on the demand price ―the amount that the demand er pays. When these two quantities are equal, we have the equilibrium.4. put equations together:a) )()(s s p S t p D =+b) or )()(t p S p D d d -=5. can also solve using inverse demands:a) t q P q P s d +=)()(**, we can find equilibrium quantity *qb) or )()(**q P t q P s d =-6. see Figure 16.3. and Figure 16.4.In A, shift the demand curve down by t . In B: shift the supply curve up by the same amount of the tax. 16.03Let us represent the tax t by a vertical line segment and slide it along the supplycurve until it just touches the demand curve. That point is our equilibrium quantity! 16.047. to summarize : There are really four variables in a taxation problem: the demandprice d p , the supply price s p , the amount demanded d q , and the amountsupplied s q ; the relationship among them:t p p s d +=s d q q =E. Passing along a tax — Figure 16.5.Tax shouldn’t be regarded as a tax on firms or on consumers. Rather, taxes are on transactions between firms and consumers. In general, a tax will both raise the price paid by consumers and lower the price received by firms. How much of a tax gets passed along will therefore depend on the characteristics of demand and supply.1. flat supply curveThis is a perfectly elastic supply. Imposing a tax is just like shifting the supply curve by the amount of the tax, as shown in Figure 16.5. Originally, both consumers and suppliers pay or receive *p ; after taxation, suppliers receive the same *p , but consumers have to pay t p +*. Therefore, the demanders end up paying the entire tax.2. vertical supply curveThe consumers end up paying *p , and suppliers end up receiving t p -*. The entire amount of the tax is paid by the suppliers.16.053.In-between casesThe amount of tax that gets passed along will depend on the steepness of the supply curve relative to the demand curve.If the supply curve is nearly horizontal (elastic), nearly all of the tax gets passed along to the consumers.If the supply curve is nearly vertical (inelastic), nearly all of the tax gets passed along to the suppliers.16.06F.Deadweight loss of a tax — Figure 16.7.1.benefits to consumers: −A−B2.benefits to producers: −C−Dernment tax revenue: +A+C4.Deadweight loss: the summation of the above three items: −B−DDeadweight loss means the loss that can never be recovered.5.value of lost output: also the loss from the reduced output.16.07We start from the old equilibrium and start moving to the left. The first unit lost was one where the price that someone was willing to pay for it was just equal to the price that someone was willing to sell it for. No social loss.Now move a little farther to the left. Some consumer was willing to pay more than that some supplier was willing to sell. So there is a trade. Through this trade, both of them were better off without hurting anyone else. Due to the tax, this trade cannot be carried out, this is a loss. Finally all the loss from the reduced output is the deadweight loss.G.Pareto efficiencyAn economic situation is Pareto efficient if there is no way to make any person better off without hurting anyone else. Efficiency has almost nothing to say about income distribution or economic justice.1.efficient output is where demand equals supply2.because that is where demand price equals supply price.3.that is, the marginal willingness to buy equals the marginal willingness to sell.4.deadweight loss measures loss due to inefficiency.16.095.At any amount of output less than the competitive amount *q, there is someonewho is willing to supply an extra unit of the good at a price that is less than the price that someone is willing to pay for an extra unit of the good. If the good were produced and exchanged between these two people at any price between the demand price and supply price, they would both be made better off. Thus any amount less than the equilibrium amount cannot be Pareto efficient, since there will be at least two people who could be made better off.Similarly, at any output larger than *q, we cannot find any way to make someone better off without hurting anyone else.Only at *q, all the “gains from trade” have been exhausted.H.Exercises1.The demand curve for salted codfish is ()p= and the supply curve200-D5p()pp=.S5(a)Please draw the demand curve and supply curve. What are the equilibriummarket price and quantity?(b)A quantity tax of $2 per unit sold is placed on salted codfish. Please draw thenew supply curve. What is the demand price? What is the supply price? Andwhat is the equilibrium quantity?(c)What is the deadweight loss due to this tax? On your graph, shade in the areathat represents the deadweight loss.2.The number of bottles of chardonnay demanded per year is $1,000,000-60,000P,where P is the price per bottle (in U.S. dollars). The number of bottles supplied is 40,000P.(a)What is equilibrium price? What is the equilibrium quantity?(b)Suppose the government introduces a new tax such that the wine maker mustpay a tax of $5 per bottle for every bottle that he produces. What is newequilibrium price paid by consumers? What is the new price received by suppliers? What is new equilibrium quantity?。
Microeconomics 微观经济学
Microeconomics
4
所以： 所以：
经济学研究社会如何管理自己的稀 经济学研究社会如何管理自己的稀 缺资源。 缺资源。 社会:指经济主体 家庭（个人）、 指经济主体， 社会 指经济主体，家庭（个人）、 企业、 企业、政府等
“天下没有白吃的午餐 !”
Aetna School of Management, Shanghai Jiao Tong University
Microeconomics
11
人们面临选择
选择 对学生自己来说 对一个家庭来说 对一个国家来说 稀缺资源
学习,娱乐 睡觉 学习 娱乐,睡觉 时间 娱乐 食物,衣服 度假 食物 衣服,度假 家庭收入 衣服 黄油,大炮 黄油 大炮 国民收入
Microeconomics
22
原理五： 原理五： 贸易能使每个人状况更好
人们能从与其他人交易的活动中获得各 种商品和劳务； 种商品和劳务； 贸易可以使人们 专门从事自己最擅长的 活动。 活动。
Aetna School of Management, Shanghai Jiao Tong University
Aetna School of Management, Shanghai Jiao Tong University
Microeconomics
24
“看不见的手” 看不见的手”
由于家庭和企业在决定购买什么和出卖 什么时关注价格， 什么时关注价格，所以他们不知不觉地 考虑了他们行动的社会收益和成本； 考虑了他们行动的社会收益和成本； 结果， 结果，价格指引个别决策者在大多数情 况下实现了整个社会福利最大化的结果 。
范里安-微观经济学现代观点(第7版)-16均衡(含习题解答)-东南大学-曹乾
Chapter 16: EquilibriumIntermediate Microeconomics:A Modern Approach (7th Edition)Hal R. Varian(University of California at Berkeley)第16章:均衡（含习题详细解答）含习题详细解答）中级微观经济学:现代方法（第7版）范里安著（加州大学伯克利）曹乾译（东南大学caoqianseu@）简短说明：翻译此书的原因是教学的需要，当然也因为对现行中文翻译版教材的不满。
市场中的翻译版翻译生硬错误百出。
此次翻译的错误是微不足道的，但仍欢迎指出。
仅供教学和学习参考。
16均衡在前面章节，我们已知道如何根据偏好和价格信息构建个人需求曲线。
在第15章，我们把这些个人需求曲线加总从而得到市场需求曲线。
在本章，我们介绍如何使用这些市场需求曲线来决定均衡的市场价格。
我们在第1章曾说过，微观经济学基本原理有两条，一条是最优化原理，另外一条是均衡原理。
直到目前，我们研究的都是最优化原理的例子：我们假设消费者在预算集内选择最优的消费束，然后研究根据这个假设能推导出什么结论。
在后面章节，我们还会使用最优化这种分析方法研究厂商的利润最大化行为。
最后，我们将消费者行为和厂商行为放在一起一起进行分析，因为他们在市场中会互相作用，所以我们要看看这种互相作用能导致什么样的均衡结果。
在详细分析市场均衡结果之前，我们有必要简单说明如何使用均衡分析这个工具，即分析价格如何变动才能使经济主体（economic agents）的需求和供给决策相容（compatible）。
我们已介绍过需求，在介绍如何使用均衡分析之前，我们需要先介绍供给，因为均衡分析涉及需求和供给这两个方面。
16.1供给事实上，我们已经看到过若干供给曲线的例子。
例如，我们在第1章学过公寓的供给曲线，这条曲线是垂直的。
在第9章，我们研究过消费者是否决定成为某种商品的净供给者或净需求者，我们还分析过劳动供给决策。
哈尔滨师范大学2012-2013学年第二学期期末考试安排(含选修课)
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请公共选修课任课教师于2013年6月10日前,将A、B两套打印、粘贴好的试卷密封后送考务中心（江北行知楼811）。
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AP Microeconomics
Sample Questions for Microeconomicssample Multiple-Choice QuestionsThe following are examples of the kinds of multiple-choice questions found on the exam . The distribution of topics and the levels of difficulty approximate the composition of the exam as a whole . Multiple-choice scores are based on the number of questions answered correctly . Points are not deducted for incorrect answers, and no points are awarded for unanswered questions . Because points are not deducted for incorrect answers, students are encouraged to answer all multiple-choice questions . On any questions students do not know the answer to, students should eliminate as many choices as they can, and then select the best answer among the remaining choices . An answer key follows the multiple-choice questions on page 19 . Directions: Each of the questions or incomplete statements below is followed by five suggested answers or completions . Select the one that is best in each case .1 . Scarcity is correctly described by which of the following statements?I . Scarcity exists if there are more uses for resources than can be satisfied at one time .II . Scarcity exists if decisions must be made about alternative uses for resources . III . Scarcity would not exist in a society in which people wanted to help others instead of themselves .( a) I only(b) II only(c) III only(d) I and II only(e) I, II, and III2 . Which of the following situations would necessarily lead to an increase in the price of peaches?(a) The wage paid to peach farm workers rises at the same time that medical researchers find that eating peaches reduces the chances of a person’s developing cancer .(b) While the wages of peach farm workers fall drastically, the peach industry launches a highly successful advertising campaign for peaches .(c) A breakthrough in technology enables peach farmers to use the same amount of resources as before to produce more peaches per acre .(d) The prices of apples and oranges fall .(e) Weather during the growing season is ideal for peach production3 . The diagram above shows the demand and supply curves for a normal good . The equilibrium price could rise from P1 to P2 if(a) consumers’ incomes increased(b) P2 were set as a legal maximum(c) subsidies on the product increased(d) the price of a complementary product increased(e) costs of production were substantially lowered4 . A perfectly competitive producer of steel rods and steel beams employs 100 workers with identical skills . If steel rods and steel beams sell for the same price, which of the following rules should the producer always follow to use the 100 workers efficiently?I . Allocate workers so that the average cost of producing beams equals the average cost of producing rods .II . Allocate workers so that the marginal product of labor is the same in both rod production and beam production .III . Allocate half the workers to rod production and half the workers to beam production .(a) I only(b) II only(c) III only(d) II and III only(e) I, II, and III5 . Assume a consumer finds that his total expenditure on compact disks stays thesame after the price of compact disks declines, other things being equal . Which ofthe following is true for this price change?(a) Compact disks are inferior goods to this consumer .(b) The consumer’s demand for compact disks increased in response to the pricechange .(c) The consumer’s demand for compact disks is perfectly price elastic .(d) The consumer’s demand for compact disks is perfectly price inelastic .(e) The consumer’s demand for compact disks is unit price elastic .6 . As its output increases, a f irm’s short-run marginal cost will eventually increasebecause of(a) diseconomies of scale(b) a lower product price(c) inefficient production(d) the firm’s need to break even(e) diminishing returns7 . For a firm hiring labor in a perfectly competitive labor market, the marginalrevenue product curve slopes downward after some point because as more of afactor is employed, which of the following declines?(a) Marginal product(b) Marginal factor cost(c) Marginal cost(d) Total output(e) Wage rates8 . Which of the following is always true of the relationship between average andmarginal costs?(a) Average total costs are increasing when marginal costs are increasing .(b) Marginal costs are increasing when average variable costs are higher thanmarginal costs .(c) Average variable costs are increasing when marginal costs are increasing .(d) Average variable costs are increasing when marginal costs are higher thanaverage variable costs .(e) Average total costs are constant when marginal costs are constant . SampleQuestions for MicroeconomicsQuestions 9–10 refer to the following diagram and assume a perfectly competitivemarket structure .9.At the price 0A, economic profits are(a) ABJG (b) ABKH (c) ABLI (d) ACMG (e) C0FM10 . In the short run, the firm will stop production when the price falls below(a) 0A (b) 0B (c) 0C(d) 0D (e) 0ESample Questions for Microeconomics11 . If the marginal cost curve of a monopolist shifts up, which of the following willoccur to the monopolist’s price and output?Price Output(a) Decrease Increase(b) Decrease Decrease(c) Increase No change(d) Increase Increase(e) Increase Decrease12 . If firms in a perfectly competitive industry have been dumping toxic waste free of charge into a river, government action to ensure a more efficient use of resources woul d have which of the following effects on the industry’s output and product price? Output Price(a) Decrease Decrease(b) Decrease Increase(c) Increase Decrease(d) Increase Increase(e) Increase No change13 . A market is clearly NOT perfectly competitive if which of the following is true in equilibrium?(a) Price exceeds marginal cost .(b) Price exceeds average variable cost .(c) Price exceeds average fixed cost .(d) Price equals opportunity cost .(e) Accounting profits are positive .Sample Questions for MicroeconomicsQuestions 14–16 are based on the following information and diagram .Assume that the original supply and demand curves of a commodity are S and D, respectively . Also assume that the government imposes an excise tax (per unit tax) of t dollars on the commodity, which shifts the supply curve to Sl .14 . The total amount of tax collected by the government is equal to(a) P1GQ10(b) P1GIP2(c) P0P1JK(d) P0P1GH(e) P0P2IH15 . Which of the following bears the total tax burden?(a) The consumers bear it .(b) The producers bear it .(c) The consumers and the producers each bear a part of it .(d) The group that legally pays the tax bears it .(e) The government bears it .16 . The deadweight efficiency loss created by the tax is equal to(a) P1GHP0(b) P1GKP0(c) GHK(d) GKI(e) zero17 . If a perfectly competitive industry is in long-run equilibrium, which of the following is most likely to be true?(a) Some firms can be expected to leave the industry .(b) Individual firms are not operating at the minimum points on their average total cost curves .(c) Firms are earning a return on investment that is equal to their opportunity costs .(d) Some factors are not receiving a return equal to their opportunity costs .(e) Consumers can anticipate price increases .18 . From the point of view of economic efficiency, a monopolist produces(a) too much of a good and charges too low a price(b) too much of a good and charges too high a price(c) too little of a good and charges too low a price(d) too little of a good and charges too high a price(e) the socially optimal amount of a good19 . The payoff matrix above shows the profits associated with the strategic decisions of two oligopoly firms, Bright Company and Sparkle Company . The first entries in each cell show the profits to Bright and the second the profits to Sparkle . What are the dominant strategies for Bright and Sparkle, respectively?Bright Sparkle(a) Strategy 1 Strategy 1(b) Strategy 1 Strategy 2(c) Strategy 2 Strategy 1(d) Strategy 2 No dominant strategy(e) No dominant Strategy Strategy 1Questions 20–22 are based on the chart below, which gives a firm’s total cost of producing different levels of output .Output Total Cost0 $131 202 253 284 325 436 6020 . The marginal cost of producing the fourth unit of output is (a) $ 4(b) $11(c) $19(d) $32(e) impossible to determine from the information given21 . The total variable cost of producing five units of output is(a) $ 6(b) $11(c) $30(d) $43(e) impossible to determine from the information given22 . The profit-maximizing level of output for this firm is(a) 2(b) 3(c) 4(d) 5(e) impossible to determine from the information given23 . The graph above shows the market for good X . The letters in the graph denote the enclosed areas . If the government imposes an excise tax of t dollars on each unit of good X, which of the following represents the consumer surplus producer surplus, and deadweight loss after the imposition of the tax?Consumer Surplus Producer Surplus Deadweight Loss(a) A G D+E(b) A F+E D+E(c) A+B G+F+E C+D(d) A+B+H G+F D+E(e) A+B+H G+F+C E24 . A Lorenz curve can be used to evaluate which of the following economic issues?(a) The allocative and technical efficiency of markets(b) The comparative advantage of trading partners and the terms of trade(c) The degree of specialization and growth within countries(d) The degree of equity in income distribution(e) The equilibrium of market prices and quantities throughout the worldanswers to Multiple-Choice Questions1 – d 4 – b 7 – a 10 – d 13 – a 16 – d 19 – e 22 – e2 – a 5 – e 8 – d 11 – e 14 – b 17 – c 20 – a 23 – a3 – a 6 – e 9 – b 12 – b 15 – c 18 – d 21 – c 24 – d Free-response QuestionsIn the free-response section of the exam, students have a 10-minute reading period and 50 minutes to answer one long and two short free-response questions . These questions generally require students to interrelate different content areas and may ask them to analyze a given economic situation and to set forth and evaluate general microeconomics principles . Students are expected to show both analytical and organizational skills in writing their responses and to incorporate explanatory diagrams that clarify their analyses . Some questions will require students tointerpret graphs that are provided as part of the questions; other questions will require students to draw their own graphs as part of their answers . All graphs should be clearly labeled . The longer free-response question will generally require students to interrelate several content areas; the two shorter questions will typically focus on a specific topic in a given content area . The score on the long question will accountfor one-half of the student’s total free-response score; the scores on the shorter questions will each account for one-quarter of the student’s total free-response score .Planning Time — 10 minutesWriting Time — 50 minutesDirections: You have 50 minutes to answer all three of the following questions . It is suggested that you spend approximately half your time on the first question and divide the remaining time equally between the next two questions . In answering the questions, you should emphasize the line of reasoning that generated your results; it is not enough to list the results of your analysis . Include correctly labeled diagrams, if useful or required, in explaining your answers . A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes . Use a pen with black or dark blue ink .1 . J & P Company operates in a perfectly competitive market for smoke alarms . J & P is currently earning short-run positive economic profits .(a) Using correctly labeled side-by-side graphs for the smoke alarm market and J & P Company, indicate each of the following for both the market and the J & P Company . (i) Price(ii) Output(b) In the graph in part (a) for J & P, indicate the area of economic profits that J & P Company is earning in the short run .(c) Using a new set of correctly labeled side-by-side graphs for the smoke alarm market and J & P Company, show what will happen in the long run to each of the following .(i) Long-run equilibrium price and quantity in the market(ii) Long-run equilibrium price and quantity for J & P Company(d) Assume that purchases of smoke alarms create positive externalities . Draw a correctly labeled graph of the smoke alarm market .(i) Label the market equilibrium quantity as Qm .(ii) Label the socially optimum equilibrium quantity as Qs .(e) Identify one government policy that could be implemented to encouragethe industry to produce the socially optimum level of smoke alarms .2 . (a) Draw a correctly labeled graph showing a typical monopoly that is maximizing profit and indicate each of the following .(i) Price(ii) Quantity of output(iii) Profit(b) Describe and explain the relationship between the monopolist’s demandcurve and marginal revenue curve .(c) Label each of the following on your graph in part (a) .(i) Consumer surplus(ii) Deadweight loss3 . Assume that Company XYZ is a profit-maximizing firm that hires its labor in aperfectly competitive labor market and sells its product in a perfectly competitive output market .(a) Define the marginal revenue product of labor (MRPL) .(b) Using correctly labeled side-by-side graphs, show each of the following .(i) The equilibrium wage in the labor market(ii) The labor supply curve the firm faces(iii) The number of workers the firm will hire(c) Company XYZ develops a new technology that increases its labor productivity . Currently this technology is not available to any other firm . For Company XYZ, explain how the increased productivity will affect each of the following .(i) Wage rates(ii) Number of workers hired。
Microeconomics(8th edition)[Pindyck Rubinfeld]目录
![Microeconomics(8th edition)[Pindyck Rubinfeld]目录](https://img.taocdn.com/s3/m/b9131ad9a8114431b90dd8e6.png)
ixCONTENTS• PART ONEIntroduction: Markets and Prices 11 Preliminaries 31.1 The Themes of Microeconomics 4Trade-Offs 4Prices and Markets 5Theories and Models 5Positive versus Normative Analysis 61.2 What Is a Market? 7Competitive versus Noncompetitive Markets 8Market Price 8Market Definition—The Extent of a Market 91.3 Real versus Nominal Prices 12 1.4 Why Study Microeconomics? 16Corporate Decision Making: The Toyota Prius 16Public Policy Design: Fuel Efficiency Standards for the Twenty-First Century 17Summary 18Questions for Review 19Exerc i ses 192 The Basics of Supply andDemand 212.1 Supply and Demand 22The Supply Curve 22The Demand Curve 232.2 The Market Mechanism 25 2.3 Changes in Market Equilibrium 26 2.4 Elasticities of Supply and Demand 33Point versus Arc Elasticities 362.5 Short-Run versus Long-Run Elasticities 39Demand 40Supply 45*2.6 Understanding and Predicting the Effects ofChanging Market Conditions 482.7 Effects of Government Intervention—PriceControls 58Summary 60Questions for Review 61Exerc i ses 62• PART TWOProducers, Consumers, and Competitive Markets 653 Consumer Behavior 67Consumer Behavior 67 3.1 Consumer Preferences 69Market Baskets 69Some Basic Assumptions about Preferences 70Indifference Curves 71Indifference Maps 72The Shape of Indifference Curves 73The Marginal Rate of Substitution 74Perfect Substitutes and Perfect Complements 753.2 Budget Constraints 82The Budget Line 82The Effects of Changes in Income and Prices 843.3 Consumer Choice 86Corner Solutions 893.4 Revealed Preference 92 3.5 Marginal Utility and Consumer Choice 95Rationing 98*3.6 Cost-of-Living Indexes 100Ideal Cost-of-Living Index 101Laspeyres Index 102Paasche Index 103Price Indexes in the United Statics: Chain Weighting 104Summary 105Questions for Review 106Exerc i ses 107Preface xviix • CONTENTS5 Uncertainty and ConsumerBehavior 1595.1 Describing Risk 160Probability 160Expected Value 161Variability 161Decision Making 1635.2 Preferences Toward Risk 165Different Preferences Toward Risk 1665.3 Reducing Risk 170Diversification 170Insurance 171The Value of Information 174*5.4 The Demand for Risky Assets 176Assets 176Risky and Riskless Assets 177Asset Returns 177The Trade-Off Between Risk and Return 179The Investor’s Choice Problem 1805.5 Bubbles 185Informational Cascades 1875.6 Behavioral Economics 189Reference Points and Consumer Preferences 190Fairness 192Rules of Thumb and Biases in Decision Making 194Summing Up 196Summary 197Questions for Review 197Exerc i ses 1986 Production 201The Production Decisions of a Firm 201 6.1 Firms and Their Production Decisions 202Why Do Firms Exist? 203The Technology of Production 204The Production Function 204The Short Run versus the Long Run 2056.2 Production with One Variable Input (Labor) 206Average and Marginal Products 206The Slopes of the Product Curve 207The Average Product of Labor Curve 209The Marginal Product of Labor Curve 209The Law of Diminishing Marginal Returns 209Labor Productivity 2146.3 Production with Two Variable Inputs 216Isoquants 2164 Individual and MarketDemand 1114.1 Individual Demand 112Price Changes 112The Individual Demand Curve 112Income Changes 114Normal versus Inferior Goods 115Engel Curves 116Substitutes and Complements 1184.2 Income and Substitution Effects 119Substitution Effect 120Income Effect 121A Special Case: The Giffen Good 1224.3 Market Demand 124From Individual to Market Demand 124Elasticity of Demand 126Speculative Demand 1294.4 Consumer Surplus 132Consumer Surplus and Demand 1324.5 Network Externalities 135Positive Network Externalities 135Negative Network Externalities 137*4.6 Empirical Estimation ofDemand 139The Statistical Approach to Demand Estimation 139The Form of the Demand Relationship 140Interview and Experimental Approaches to Demand Determination 143Summary 143Questions for Review 144Exerc i ses 145APPENDIX TO CHAPTER 4:Demand Theory—A Mathematical Treatment 149Utility Maximization 149The Method of Lagrange Multipliers 150The Equal Marginal Principle 151Marginal Rate of Substitution 151Marginal Utility of Income 152An Example 153Duality in Consumer Theory 154Income and Substitution Effects 155Exerc i ses 157CONTENTS • xiAPPENDIX TO CHAPTER 7:Production and Cost Theory—A Mathematical Treatment 273Cost Minimization 273Marginal Rate of Technical Substitution 274Duality in Production and Cost Theory 275The Cobb-Douglas Cost and Production Functions 276Exerc i ses 2788 Profit Maximization andCompetitive Supply 2798.1 Perfectly Competitive Markets 279When Is a Market Highly Competitive? 2818.2 Profit Maximization 282Do Firms Maximize Profit? 282Alternative Forms of Organization 2838.3 Marginal Revenue, Marginal Cost, and ProfitMaximization 284Demand and Marginal Revenue for a Competitive Firm 285Profit Maximization by a Competitive Firm 2878.4 Choosing Output in the Short Run 287Short-Run Profit Maximization by a Competitive Firm 287When Should the Firm Shut Down? 2898.5 The Competitive Firm’s Short-Run SupplyCurve 292The Firm’s Response to an Input Price Change 2938.6 The Short-Run Market Supply Curve 295Elasticity of Market Supply 296Producer Surplus in the Short Run 2988.7 Choosing Output in the Long Run 300Long-Run Profit Maximization 300Long-Run Competitive Equilibrium 301Economic Rent 304Producer Surplus in the Long Run 3058.8 The Industry’s Long-Run SupplyCurve 306Constant-Cost Industry 307Increasing-Cost Industry 308Decreasing-Cost Industry 309The Effects of a Tax 310Long-Run Elasticity of Supply 311Summary 314Questions for Review 314Exerc i ses 315Input Flexibility 217Diminishing Marginal Returns 217Substitution Among Inputs 218Production Functions—Two Special Cases 2196.4 Returns to Scale 223Describing Returns to Scale 224Summary 226Questions for Review 226Exerc i ses 2277 The Cost of Production 2297.1 Measuring Cost: Which Costs Matter? 229Economic Cost versus Accounting Cost 230Opportunity Cost 230Sunk Costs 231Fixed Costs and Variable Costs 233Fixed versus Sunk Costs 234Marginal and Average Cost 2367.2 Cost in the Short Run 237The Determinants of Short-Run Cost 237The Shapes of the Cost Curves 2387.3 Cost in the Long Run 243The User Cost of Capital 243The Cost-Minimizing Input Choice 244The Isocost Line 245Choosing Inputs 245Cost Minimization with Varying Output Levels 249The Expansion Path and Long-Run Costs 2507.4 Long-Run versus Short-Run Cost Curves 253The Inflexibility of Short-Run Production 253Long-Run Average Cost 254Economies and Diseconomies of Scale 255The Relationship between Short-Run and Long-Run Cost 2577.5 Production with Two Outputs—Economies ofScope 258Product Transformation Curves 258Economies and Diseconomies of Scope 259The Degree of Economies of Scope 259*7.6 Dynamic Changes in Costs—The LearningCurve 261Graphing the Learning Curve 261Learning versus Economies of Scale 262*7.7 Estimating and Predicting Cost 265Cost Functions and the Measurement of Scale Economies 267Summary 269Questions for Review 270Exerc i ses 271xii • CONTENTS10.5 Monopsony 382Monopsony and Monopoly Compared 38510.6 Monopsony Power 385Sources of Monopsony Power 386The Social Costs of Monopsony Power 387Bilateral Monopoly 38810.7 Limiting Market Power: The AntitrustL aws 389Restricting What Firms Can Do 390Enforcement of the Antitrust Laws 391Antitrust in Europe 392Summary 395Questions for Review 395Exerc i ses 39611 Pricing with Market Power 39911.1 Capturing Consumer Surplus 400 11.2 Price Discrimination 401First-Degree Price Discrimination 401Second-Degree Price Discrimination 404Third-Degree Price Discrimination 40411.3 Intertemporal Price Discrimination andPeak-Load Pricing 410Intertemporal Price Discrimination 411Peak-Load Pricing 41211.4 The Two-Part Tariff 414 *11.5 Bundling 419Relative Valuations 420Mixed Bundling 423Bundling in Practice 426Tying 428*11.6 Advertising 429A Rule of Thumb for Advertising 431Summary 434Questions for Review 434Exerc i ses 435APPENDIX TO CHAPTER 11:The Vertically Integrated Firm 439Why Vertically Integrate? 439Market Power and Double M arginalization 439Transfer Pricing in the Integrated Firm 443Transfer Pricing When There Is No Outside Market 443Transfer Pricing with a Competitive Outside Market 4469 The Analysis of CompetitiveMarkets 3179.1 Evaluating the Gains and Losses fromGovernment Policies—Consumer and Producer Surplus 317Review of Consumer and Producer Surplus 318Application of Consumer and Producer Surplus 3199.2 The Efficiency of a Competitive Market 323 9.3 Minimum Prices 328 9.4 Price Supports and Production Quotas 332Price Supports 332Production Quotas 3339.5 Import Quotas and Tariffs 340 9.6 The Impact of a Tax or Subsidy 345The Effects of a Subsidy 348Summary 351Questions for Review 352Exerc i ses 352• PART THREEMarket Structure and CompetitiveStrategy 35510 Market Power: Monopolyand Monopsony 35710.1 Monopoly 358Average Revenue and Marginal Revenue 358The Monopolist’s Output Decision 359An Example 361A Rule of Thumb for Pricing 363Shifts in Demand 365The Effect of a Tax 366*The Multiplant Firm 36710.2 Monopoly Power 368Production, Price, and Monopoly Power 371Measuring Monopoly Power 371The Rule of Thumb for Pricing 37210.3 Sources of Monopoly Power 375The Elasticity of Market Demand 376The Number of Firms 376The Interaction Among Firms 37710.4 The Social Costs of Monopoly Power 377Rent Seeking 378Price Regulation 379Natural Monopoly 380Regulation in Practice 381CONTENTS • xiii13.6 Threats, Commitments, and Credibility 505Empty Threats 506Commitment and Credibility 506Bargaining Strategy 50813.7 Entry Deterrence 510Strategic Trade Policy and International Competition 512*13.8 Auctions 516Auction Formats 517Valuation and Information 517Private-Value Auctions 518Common-Value Auctions 519Maximizing Auction Revenue 520Bidding and Collusion 521Summary 524Questions for Review 525Exerc i ses 52514 Markets for Factor Inputs 52914.1 Competitive Factor Markets 529Demand for a Factor Input When Only One Input Is Variable 530Demand for a Factor Input When Several Inputs Are Variable 533The Market Demand Curve 534The Supply of Inputs to a Firm 537The Market Supply of Inputs 53914.2 Equilibrium in a Competitive FactorMarket 542Economic Rent 54214.3 Factor Markets with Monopsony Power 546Monopsony Power: Marginal and Average Expenditure 546Purchasing Decisions with Monopsony Power 547Bargaining Power 54814.4 Factor Markets with Monopoly Power 550Monopoly Power over the Wage Rate 551Unionized and Nonunionized Workers 552Summary 555Questions for Review 556Exerc i ses 55615 Investment, Time, and CapitalMarkets 55915.1 Stocks versus Flows 560 15.2 Present Discounted Value 561Valuing Payment Streams 562Transfer Pricing with a Noncompetitive Outside M arket 448Taxes and Transfer Pricing 448A Numerical Example 449Exerc i ses 45012 Monopolistic Competition andOligopoly 45112.1 Monopolistic Competition 452The Makings of Monopolistic Competition 452Equilibrium in the Short Run and the Long Run 453Monopolistic Competition and Economic Efficiency 45412.2 Oligopoly 456Equilibrium in an Oligopolistic Market 457The Cournot Model 458The Linear Demand Curve—An Example 461First Mover Advantage—The Stackelberg M odel 46312.3 Price Competition 464Price Competition with Homogeneous Products— The Bertrand Model 464Price Competition with Differentiated Products 46512.4 Competition versus Collusion: The Prisoners’Dilemma 46912.5 Implications of the Prisoners’ Dilemma forOligopolistic Pricing 472Price Rigidity 473Price Signaling and Price Leadership 474The Dominant Firm Model 47612.6 Cartels 477Analysis of Cartel Pricing 478Summary 482Questions for Review 482Exerc i ses 48313 Game Theory and CompetitiveStrategy 48713.1 Gaming and Strategic Decisions 487Noncooperative versus Cooperative Games 48813.2 Dominant Strategies 490 13.3 The Nash Equilibrium Revisited 492Maximin Strategies 494*Mixed Strategies 49613.4 Repeated Games 498 13.5 Sequential Games 502The Extensive Form of a Game 503The Advantage of Moving First 504xiv • CONTENTS16.4 Efficiency in Production 613Input Efficiency 613The Production Possibilities Frontier 614Output Efficiency 615Efficiency in Output Markets 61716.5 The Gains from Free Trade 618Comparative Advantage 618An Expanded Production Possibilities Frontier 61916.6 An Overview—The Efficiency of CompetitiveMarkets 62316.7 Why Markets Fail 625Market Power 625Incomplete Information 625Externalities 626Public Goods 626Summary 627Questions for Review 628Exerc i ses 62817 Markets with AsymmetricInformation 63117.1 Quality Uncertainty and the Market forL emons 632The Market for Used Cars 632Implications of Asymmetric Information 634The Importance of Reputation and Standardization 63617.2 Market Signaling 638A Simple Model of Job Market Signaling 639Guarantees and Warranties 64217.3 Moral Hazard 643 17.4 The Principal–Agent Problem 645The Principal–Agent Problem in Private Enterprises 646The Principal–Agent Problem in Public Enterprises 648Incentives in the Principal–Agent Framework 650*17.5 Managerial Incentives in an IntegratedFirm 651Asymmetric Information and Incentive Design in the Integrated Firm 652Applications 65417.6 Asymmetric Information in Labor Markets:Efficiency Wage Theory 654Summary 656Questions for Review 657Exerc i ses 65715.3 The Value of a Bond 564Perpetuities 565The Effective Yield on a Bond 56615.4 The Net Present Value Criterion for CapitalInvestment Decisions 569The Electric Motor Factory 570Real versus Nominal Discount Rates 571Negative Future Cash Flows 57215.5 Adjustments for Risk 573Diversifiable versus Nondiversifiable Risk 574The Capital Asset Pricing Model 57515.6 Investment Decisions by Consumers 578 15.7 Investments in Human Capital 580 *15.8 Intertemporal Production Decisions—Depletable Resources 584The Production Decision of an Individual Resource Producer 584The Behavior of Market Price 585User Cost 585Resource Production by a Monopolist 58615.9 How Are Interest Rates Determined? 588A Variety of Interest Rates 589Summary 590Questions for Review 591Exerc i ses 591• PART FOURInformation, Market Failure, andthe Role of Government 59316 General Equilibrium and EconomicEfficiency 59516.1 General Equilibrium Analysis 595Two Interdependent Markets—Moving to General Equilibrium 596Reaching General Equilibrium 597Economic Efficiency 60116.2 Efficiency in Exchange 602The Advantages of Trade 602The Edgeworth Box Diagram 603Efficient Allocations 604The Contract Curve 606Consumer Equilibrium in a Competitive Market 607The Economic Efficiency of Competitive M arkets 60916.3 Equity and Efficiency 610The Utility Possibilities Frontier 610Equity and Perfect Competition 612CONTENTS • xv18.7 Private Preferences for Public Goods 694Summary 696Questions for Review 696Exerc i ses 697APPENDIX:The Basics of Regression 700An Example 700Estimation 701Statistical Tests 702Goodness of Fit 704Economic Forecasting 704Summary 707Glossary 708Answers to Selected Exercises 718Photo Credits 731Index 73218 Externalities and PublicGoods 66118.1 Externalities 661Negative Externalities and Inefficiency 662Positive Externalities and Inefficiency 66418.2 Ways of Correcting Market Failure 667An Emissions Standard 668An Emissions Fee 668Standards versus Fees 669Tradeable Emissions Permits 671Recycling 67518.3 Stock Externalities 678Stock Buildup and Its Impact 67918.4 Externalities and Property Rights 684Property Rights 684Bargaining and Economic Efficiency 685Costly Bargaining—The Role of Strategic Behavior 686A Legal Solution—Suing for Damages 68618.5 Common Property Resources 687 18.6 Public Goods 690Efficiency and Public Goods 691Public Goods and Market Failure 692。
巴德 微观经济学原理(英文版第8版)教学课件Econ_Ch16
16.1 Monopoly and How it Arises (5 of 9)
3. This same total output costs 10 cents a kilowatt-hour with two firms,
4. and 15 cents a kilowatt-hour with four firms.
Copyright © 2018, 2015, 2013 Pearson Education, Inc. All Rights Reserved
One firm can meet the market demand at a lower cost than two or more firms can, and the market is a natural monopoly.
Copyright © 2018, 2015, 2013 Pearson Education, Inc. All Rights Reserved
Foundations of Microecon
Monopoly
Copyright © 2018, 2015, 2013 Pearson Education, Inc. All Rights Reserved
Are Microsoft’s Prices Too High?
16.1 Monopoly and How it Arises (6 of 9)
Legal Barrier to Entry A legal barrier to entry creates legal monopoly. A legal monopoly is a market in which competition and entry are restricted by granting of a public franchise, government license, patent, or copyright.
清华大学中级微观经济学(清华 李稻葵 助教等)
/portalweb/appmanager/portal/semTSINGHUA UNIVERSITYSCHOOL OF ECONOMICS AND MANAGEMENT中级微观经济学2004年秋季学期Intermediate MicroeconomicsFall Semester 2004星期三Wednesday9:50 am —12:15pm六教 6A018任课教师:清华大学经济管理学院教授李稻葵Professor David D. Li助教:姜超, 冯俊新，江红平，梅松课程网页Course Web-Page:→分类讨论→中级微观经济学用户名: s311 密码：pe4028联系方式:李稻葵E-mail: lidk@电话: 6277-2126;办公室: 舜德楼南211H答疑时间: 预约姜超S972260@ 冯俊新fengjx@江宏平jianghp@ 梅松meis@习题课以及答疑时间: 星期一 & 星期二Monday & Tuesday19:00 pm —21:00 pm伟伦楼北5081.课程简介微观经济学是现代经济学的基础. 其核心理论体系之完美, 可以和物理学的牛顿力学相媲美; 其主要研究方法广泛应用于经济学的各个分支; 其思维方式,渗透了现代社会科学的主要学科. 本课程的目的就是给学生打下一个扎实的微观经济学基础, 欣赏其理论之完美和独特的思维方式, 并熟练地掌握微观经济学系统的分析工具.2.教学风格本课程属于经济学核心课程, 力求与国际最高标准接轨. 教学的文字材料(包括教材, 讲稿, 习题和考试等), 以英文为主; 口头表达以汉语为主.3.教材教材为:Hal R. Varian: Intermediate Microeconomics A Modern Approach. Sixth Edition W.W. Norton & Company. New York, NY. 2003.习题来自其附本:Theodore C. Bergstrom and Hal R. Varian: Workouts in Intermediate Microeconomics. Sixth Edition W.W. Norton & Company. New York, NY. 2003.4.习题课对大多数同学而言, 参加习题课是学好本课程的关键. 习题课上还会布置随堂习题, 成绩计入总成绩. 如果有的同学感到可以比较轻松地完全掌握教学内容, 可以选择不参加少量习题课和部分随堂习题, 不会影响总成绩, 总成绩地计算办法见下.除第一周和国庆节长周末之外, 每周将安排两节内容相同但时间不同的习题课, 大家可以任选其一参加. 具体时间另行通知.5.课程要求及考核标准微观经济学的特点是思想性与方法性并重, 要学好这门课, 学生们一定要下功夫彻底理解基本概念和基本原理, 不仅懂, 而且会讲,会用, 然后练习解题. 解题时要举一反三, 多动脑筋总结经验.根据微观经济学的这些特点, 本课程采取以下考核方式:1)随堂习题 (比重 20%) : 在习题课上进行. 题目来自Theodore C.Bergstrom and Hal R. Varian: Workouts in Intermediate MicroeconomicsSixth Edition W.W. Norton & Company. New York, NY. 2003.随堂习题的目的是鼓励学生在课下做习题, 多练习.随堂习题的总成绩是每人8个最高的随堂习题的平均值.2)期中考试 (比重 30%): 题目也将与上述习题集有关.3)期末考试 (比重 50%): 按清华大学的给定时间进行.Class ScheduleNote:Chapters refer to Hal R. Varian: Intermediate Microeconomics AModern Approach. Sixth Edition W.W. Norton & Company. New York, NY. 2003.September 15 Introduction and Overview of the CourseChapter 1 The MarketChapter 2 Budget ConstraintSeptember 22 Chapter 3 PreferencesChapter 4 UtilityChapter 5 ChoiceSeptember 29 Chapter 6 DemandChapter 7 Revealed PreferenceOctober 6 (No Class --- National Day Long Weekend)October 13Chapter 8 Slutsky EquationChapter 9 Buying and sellingOctober 20 Chapter 10 Intertemporal ChoiceChapter 11 Asset MarketsChapter 12 UncertaintyChapter 13 Risky AssetsOctober 27 Chapter 14 Consumer’s SurplusChapter 15 Market DemandChapter 16 EquilibriumNovember 3 Mid-Term ExamNovember 10Chapter 18 TechnologyChapter 19 Profit MaximizationChapter 20 Cost MinimizationNovember 17Chapter 21 Cost CurvesChapter 22 Firm SupplyChapter 23 Industry Supply November 24Chapter 24 MonopolyChapter 25 Monopoly BehaviorChapter 26 Factor Markets December 1 Chapter 27 OligopolyChapter 28 Game Theory December 8 Chapter 30 ExchangeChapter 31 ProductionDecember 15 Chapter 32 WelfareChapter 33 ExternalitiesChapter 35 Public Goods December 22 Chapter 36 Asymmetric InformationChapter 17 AuctionsDecember 29 Course Integration任课教师简介李稻葵(David D. Li) 1985年毕业于清华大学经济管理学院管理信息系统专业,同年由学院推荐参加国家教委组织的留美经济学考试(即, 邹至庄经济学留学计划),出国留学. 1985到1986,为美国哈佛大学国际发展研究所(HIID)访问学者. 1986年入该校经济系攻读博士, 从师艾里克马斯金,安德烈史莱法,以及亚诺什科尔耐, 主修经济理论,公司金融, 和比较经济学. 1992年获哈佛大学哲学博士(经济学)学位. 1992至1999任美国安娜堡密西根大学经济系助理教授并兼任该校中国研究中心研究员. 1997至1998, 从密西根大学请假,任美国斯坦福大学胡佛研究所国家研究员,从事中国经济改革的制度变迁研究. 1999至2004年长期聘为香港科技大学经济系副教授,并任该校经济发展研究中心副主任.李稻葵曾兼任世界银行中国社会保障体制改革研究项目顾问 (1989), 国际<<比较经济学杂志>> (Journal of Comparative Economics)编委 (2000-03), 中国留美经济学会(CES)会长 (2001-02), 清华大学经济管理学院特聘教授(2002-03). 现兼任(欧洲)经济政策研究中心(CEPR), 美国密西根大学威廉戴维森研究所 (The William Davidson Institute)研究员; 国际《经济学通報》(Economics Bulletin),中国<<经济研究>>,香港《中国评论》(The China Review)等学术杂志的编委; 国际比较经济研究会执行理事; 南开大学,四川大学,西南财经大学兼职教授。
《微观经济学》课程教学大纲
《微观经济学》课程教学大纲一、课程基本信息课程代码：16143103课程名称：西方经济学（微观部分）英文名称：Microeconomics课程类型：学科基础课学时：48学时学分：3学分适应对象：全院经济管理类各本科专业考核方式：考试先修课程：高等数学二、课程简介中文简介：（附内容结构图）微观经济学研究单个经济单位的活动规律。
具体地说，微观经济学研究单个消费者、单个生产者、单个市场的的经济行为，其对单个经济单位的考察，是在三个逐步深入的层次上进行：第一层次考察单个消费者、单个生产者的均衡；第二层次考察单个的市场均衡；第三层次考察所有单个市场均衡价格的决定。
正因为其分析涉及的变量都是经济个量，它才被称为微观经济学。
价格分析是微观经济学分析的核心，微观经济学也被称为价格理论。
本书关于价格理论的讲述是按以下层次展开：开篇简介西方经济学；第二章介绍价格的确定是由于供需两种因素均衡的结果，当然，作为必备知识，本章也介绍了供给、需求函数及相关曲线、供求的各种弹性；第三章介绍了决定商品价格的需求因素，需求曲线之所以向右下方倾斜，是由于效用最大化原则的要求；为说明供给曲线，第四章、第五章介绍了生产函数和成本函数，得到了一定产量时厂商成本最小化的条件和长短期成本曲线。
通过第六章的学习，可以得到完全竞争的市场条件下，厂商的商品供给曲线即是其边际成本线（高于平均可变成本最低点以上部分）。
第七章介绍了三种不完全竞争市场条件下都不存在规律的供给曲线。
至此，商品的供求及价格决定的内容已完整。
第八章、第九章介绍了要素的供求，从而确定了要素均衡时的价格。
第十章将单个市场均衡推广到多个市场，并讨论了生产和交换的最优条件；第十一章则从价格失灵的角度讨论其失灵原因及相应的对策。
英文简介：The conomics behaviors of single unit are studies in the subject of Microeconomics.In details,a cosumer、a poductor or a market is studied.Three contends are included in the book.The first one describes the conomics equilibrium behaviors of single cosumer andsingle cosumer;the second part explains how some market turning equilibrium;the equilibrium price and quantity of all markets was discussed in the third one.Because single unit is discussed,the subject was called as Microeconomics.The price analyses is the core of Microeconomics.What is Economics is introduced in the first chaptes;how the price deing decided is explained in the second chapter;demanding is described in the third;how to get supply curve is the main contend from the fourthchapter to the seventh one.The discussion about the factors demand and supply was introduced.The contend of the tenth chapter is market equilibrium and the production optimization and exchange optimization;Externalities、public goods、asymmetric information and Microeconomics policy are discussed in the eleventh.微观经济学内容结构图第一章：引论第四章：生产论第三章：效用论第二章：需求曲线和供给曲线概述以及有关的基本概念第十章：一般均衡论和福利经济学第九章：生产要素价格决定的供给方面第五章：成本论第六章：完全竞争市场第七章：不完全竞争市场第八章：生产要素价格决定的需求方面第十一章：市场失灵和微观经济政策在本课程体系中的功能章次及内容简介“西方经济学”范畴价格的形成机制——供求均衡的结果商品需求曲线的形成：消费者效用最大化的结果完全竞争时商品供给曲线的形成：生产者利润最大化的结果生产函数成本函数利润最大化条件不完全竞争条件下无有规律的商品供给曲线商品价格的形成：供求均衡生产要素的需求因素：边际要素收益=边际要素成本生产要素的供给因素：要素自用效用=要素供给效用所有市场的均衡价要素价格的形成：供求均衡价格失灵，不能起资源调配作用，采用相关经济政策生产和交换的最优条件实证经济学规范经济学三、课程性质与教学目的课程性质：作为西方经济学的组成部分,微观经济学是对西方发达资本主义国家二百多年市场经济发展中的单个经济单位活动规律的一般抽象和概括。
microeconomics Preliminaries
11 of 17
1.3 REAL VERSUS NOMINAL PRICES
● nominal price Absolute price of a good, unadjusted for inflation.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall • Microeconomics • Pindyck/Rubinfeld, 8e.
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Chapter 1: Preliminaries
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall • Microeconomics • Pindyck/Rubinfeld, 8e.
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Chapter 1: Preliminaries
1.1 THE THEMES OF MICROECONOMICS
Theories and Models In economics, explanation and prediction are based on theories. Theories are developed to explain observed phenomena in terms of a set of basic rules and assumptions.
Market definition is important for two reasons:
微观经济学Microeconomics
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微观经济学Microeconomics
什么是经济学？
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• Economic Man 经济人
• 如果说，稀缺是社会存在的经济概括， 那么，经济人这个概念就是对社会意 识的经济学概括。
• 经济学并不研究稀缺本身，而是研究 在稀缺条件下人的行为，也就是研究 经济人的行为。
微观经济学Microeconomics
• 人类社会的基础是合作。
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微观经济学Microeconomics
（1）The Definition of Economic Institutions经济制度的定义
• 制度，首先是人们行为的规范或规则。 • 制度是人们形成合作关系中所必要的共信。 • 拥有了必要的共信，才使人类得以组织成社会，
A
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E
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微观经济学Microeconomics
什么是经济学？
• （3）Production-Possibilities Frontier 生产可能性边界
• 按上述表，给出几何的表达，就形 成生产可能性边界。
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微观经济学Microeconomics
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必须减少黄油的生产为代价。 • 反之也然。
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微观经济学Microeconomics
什么是经济学？
• E、progressively increase
机会成本的递增：
• 从图和表中可见到，替代的成本，分别为1、2、3、4。 • 成本递增法则，是源于“资产专用性”，由于最适合生
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Chapter 16
Slide 7
Two Interdependent Markets: Movie Tickets and Videocassette Rentals
Price Assume the government imposes a $1 tax on each movie ticket. Price General Equilibrium Analysis: Increase in movie ticket prices increases demand for videos.
S*M
SM
$3.50 $3.00
SV
$6.35
$6.00
D’V
DM
Q’M QM
Number of Movie Tickets
DV
QV Q’V
Number of Videos
Two Interdependent Markets: Movie Tickets and Videocassette Rentals
Chapter 16 Slide 12
The Interdependence of International Markets Partial Analysis
Brazilian domestic soybean price will fall and domestic demand for soybean products would increase.
Chapter 16
Slide 10
Two Interdependent Markets: Movie Tickets and Videocassette Rentals
Questions
What would be the feedback effect of a tax increase on one of two complementary goods? What are the policy implications of using a partial equilibrium analysis compared to a general equilibrium in this scenario?
Chapter 16
Slide 6
General Equilibrium Analysis
Two Interdependent Markets--Moving to General Equilibrium
Scenario The competitive markets of:
Videocassette rentals Movie theater tickets
General equilibrium analysis determines the prices and quantity in all markets simultaneously and takes the feedback effect into account.
Chapter 16
Slide 5
Chapter 16
Slide 11
The Interdependence of International Markets Brazil and the United States export soybeans and are, therefore, interdependent. Brazil limited exports in the late 1960’s and early 1970’s. Eventually the export controls were to be removed, and Brazilian exports were expected to increase.
Chapter 16 Slide 17
Efficiency in Exchange
The Edgeworth Box Diagram
Which trades can occur and which allocation will be efficient can be illustrated using a diagram called an Edgeworth Box.
Chapter 16
Slide 2
Topics to be Discussed
The Gains from Free Trade On Overview--The Efficiency of Competitive Markets Why Markets Fail
Chapter 16
Slide 3
Observation
Without considering the feedback effect with general equilibrium, the impact of the tax would have been underestimated This is an important consideration for policy makers.
Chapter 16
Slide 13
The Interdependence of International Markets General Analysis
In the U.S. the price of soybeans and output would increase; U.S. exports would increase and Brazilian exports would fall (even after regulations ended).
Chapter 16
Slide 20
Efficiency in Exchange
10F 6C
A: UJ1 = UK1, but the MRS is not equal. All combinations in the shaded area are preferred to A.
Karen’s Food
Trade between two parties is mutually beneficial.
Chapter 16
Slide 15
Efficiency in Exchange
Assumptions
Two consumers (countries) Two goods Both people know each others preferences Exchanging goods involves zero transaction costs James & Karen have a total of 10 units of food and 6 units of clothing.
Efficient Allocations
If James’s and Karen’s MRS are the same at B the allocation is efficient. This depends on the shape of their indifference curves.
Chapter 16
Slide 14
Efficiency in Exchange
Exchange increases efficiency until no one can be made better off without making someone else worse off (Pareto efficiency). The Advantages of Trade
Chapter 16
Slide 18
Exchange in an Edgeworth Box
Karen’s Food
10F 6C
The initial allocation before trade is A: James has 7F and 1C & Karen has 3F and 5C. James’s Clothing
0K
James’s Clothing
D C B
Karen’s Clothing
UJ3
A
Gains from trade
UJ2 UJ1 10F
Slide 21
UK3 UK2 0J
Chapter 16 James’s Food
UK1
6C
Efficiency in Exchange
10F 6C Is B efficient? Hint: is the MRS equal at B?
General Equilibrium Analysis
Partial equilibrium analysis presumes that activity in one market is independent of other markets.
Chapter 16
Slide 4
General Equilibrium Analysis
Price The increase in the price of videos increases the demand for movies. Price The Feedback effects continue.
S*M
$6.82 $6.75 $6.35
SM
$3.58 $3.50 $3.00
4F
3F
0K
The allocation after trade is B: James has 6F and 2C & Karen has 4F and 4C.
Karen’s Clothing B +1C
2C 1C
4C 5C
-1F A
6C 0J
James’s Food
6F
7F
10F
Efficiency in Exchange