经济学原理第三版习题答案(II)
《经济学原理》习题(附答案)
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《经济学原理》习题(附答案)1、下列哪一种弹性是度量沿着需求曲线的移动而不是曲线本身的移动()。
A、需求的价格弹性B、需求的收入弹性C、需求的预期价格弹性D、需求的交叉弹性答案:A2、总利润达到最大是在( )。
A、TR=TC 处B、TR 曲线和 TC 曲线斜率平行C、TR 曲线和 TC 曲线斜率平行且 TC 超过 TR 处D、TR 曲线和 TC 曲线斜率平行,且 TR 超过 TC 处答案:D3、在下面各种情况下,厂商不能够实现生产要素最优组合的是()。
A、在某点的要素的边际技术替代率等于要素价格之比B、在扩展线上任何一点扩大生产时C、两种要素的价格之比等于两种要素的边际产量之比D、等成本线与某一条等产量线的相交点答案:D4、生产者预期某物品未来价格要下降,则对该物品当前的供给会()。
A、增加B、不变C、减少D、上述三种情况都可能答案:A5、在统计中,社会保险税增加对( )项有影响。
A、国民收入NIB、国内生产总值GDPC、个人收入PID、国内生产净值NDP答案:C6、如果厂商在短期内供应量既定,则该商品的价格()。
A、仅由市场需求曲线决定B、仅由市场供给曲线决定C、由市场需求曲线和供给曲线共同决定D、以上任一条都不能决定答案:A7、按国民收入核算体系,在一个只有家庭、企业和政府构成的三部门经济中,一定有( )。
A、家庭储蓄加折旧等于总投资加政府购买支出B、家庭储蓄加税收等于总投资加政府购买支出C、家庭储蓄等于总投资D、家庭储蓄等于净投资答案:B8、微观经济学是经济学的一个分支,主要研究()。
A、市场经济B、个体行为C、总体经济活动D、失业和通货膨胀等答案:B9、劳动(L)的总产量下降时()。
A、MPL为负B、APL是递增的C、APL为零D、MPL为零答案:A10、基数效用与序数效用的主要差别在于两种商品的( )。
A、边际替代率是否不变B、边际替代率是否递增C、效用是否可加D、边际替代率是否递减答案:C11、稀缺资源的含义是指()。
经济学原理练习试卷2(题后含答案及解析)
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经济学原理练习试卷2(题后含答案及解析) 题型有:1. 单项选择题 3. 判断题 4. 名词解释 6. 计算题7. 案例分析题单项选择题1.已知某商品的收入弹性=0.6,则这种商品是( )。
A.低档商品B.一般的正常商品C.奢侈品D.吉芬商品正确答案:B 涉及知识点:经济学原理2.已知某商品的收入弹性=-0.8,则这种商品是( )。
A.低档商品B.一般的正常商品C.奢侈品D.必需品正确答案:A 涉及知识点:经济学原理3.关于影响需求价格弹性的因素,下面的表述不正确的是( )。
A.一种商品的替代品越少,该商品的需求价格弹性就越小B.一种商品具有多种用途,它的需求价格弹性就可能越大C.生活必需品的需求价格弹性较大D.耐用品的需求价格弹性较小正确答案:C 涉及知识点:经济学原理4.某商品的需求函数为Q=12000-25P,在需求数量Q为2000件时的价格弹性是( )。
A.25B.10C.5D.1正确答案:C 涉及知识点:经济学原理5.已知某商品的需求弹性系数为0.5,当价格为每公斤3.2元时,销售量为1000公斤,若其价格下降10%,销售量是( )。
A.50(公斤)B.1000(公斤)C.1050(公斤)D.2050(公斤)正确答案:C 涉及知识点:经济学原理6.已知某商品的需求弹性系数为0.5,当价格为每公斤3.2元时,销售量为1000公斤,若其价格下降10%,该商品降价后总收益( )。
A.总收益减少,共减少了176元B.总收益增加,共增加了176元C.总收益减少,共减少了2864元D.总收益增加,共增加了2864元正确答案:A 涉及知识点:经济学原理7.已知某两种商品的交叉弹性=-0.4,则这两种商品是( )。
A.独立品B.替代品C.互补品D.完全替代品正确答案:C 涉及知识点:经济学原理8.已知某两种商品的交叉弹性=1.8,则这两种商品是( )。
A.独立品B.替代品C.互补品D.完全互补品正确答案:B 涉及知识点:经济学原理9.某商品的价格下降导致其互补品的( )。
西方经济学(第三版)微观经济学-第二篇习题解答
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第二篇 家庭经济行为一、是非题(对者打√,错者打×,并说明理由)1.湖南人不怕辣,贵州人辣不怕,四川人怕不辣,可见四川人最能吃辣椒。
[答] ×。
根据效用理论,主观效用只能自我比较,难以相互比较,也就是说,无法比较辣椒对湖南、贵州、四川等地人的不同效用。
2.若广柑每公斤2元,白兰瓜每公斤3元,广柑的边际效用为24utils ,白兰瓜的边际效用为36utils ,在既定收入限制下,追求效用最大的消费者将保持现有的消费量不变。
[答]√。
效用最大化的一阶条件是Y YX X P MU P MU =,已知12=广柑广柑P MU ,12=白兰瓜白兰瓜P MU 两者相等,因此,消费者将保持现有消费量不变。
3.某君仅消费X 、Y 两种商品,其效用函数为aaY X U =,为求效用最大化,他总是把收入的一半花在X 上。
[答]√。
由题意可知1Y 1X --==a aa a YX MU Y X MU αα由YYX X P MU P MU =可得 即Y1X1αP Y X P Y X --=αααααYX P XP Y = Y P X P Y X =因为某君仅消费X ,Y 两种产品,两种产品的支出相等,所以总是把收入的一半花在X 上。
4.若某产品需求曲线向右下方倾斜,则可判定它必为正常品。
[答] ×。
通常,正常品符合需求法则,需求曲线向右下方倾斜。
但是,当劣等品的价格发生变动时,替代效应大于收入效应,总效应与价格反向变动,需求曲线也向右下方倾斜。
5.某君对货币的效用函数为5()U I I =,则对他来说,货币的边际效用是递增的。
[答]√。
因为4232d ()5d dM d ()20d d U I MU I IU U I I I I==== 二、选择题(选择正确答案,并说明理由)1.在特定时期内,猪肉需求曲线左移的原因可能是( )。
A .猪肉价格上涨 B .猪肉预期价格上涨 C .鸡蛋价格上涨 D .预期鸡蛋价格上涨 E .猪肉成本提高[答] D 。
《经济学基础(第三版)》课后参考答案1-6章
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经济学基础(第三版)课后参考答案第一章经济学的基本概念1. 经济学是研究人们如何分配有限的资源来满足无限的需求的一门学科。
它包括如何分配资源,如何决定价格,如何确定收入,如何影响和调节供求关系,以及如何分析和评估政府的经济政策。
2. 经济学的基本原理包括:(1) 供求原理:当价格上升时,供应量减少,需求量增加;当价格下降时,供应量增加,需求量减少。
(2) 收入效应:当收入增加时,需求量增加;当收入减少时,需求量减少。
(3) 同质性效应:当价格上升时,对于同一商品的需求量减少;当价格下降时,对于同一商品的需求量增加。
(4) 替代性效应:当价格上升时,对于一种商品的需求量减少,而对另一种商品的需求量增加;当价格下降时,对于一种商品的需求量增加,而对另一种商品的需求量减少。
3. 经济学的两个基本问题是:(1) 如何分配有限的资源来满足无限的需求。
(2) 如何决定价格。
4. 经济学的三个基本方法是:(1) 比较分析法:这种方法通过比较不同经济体之间的差异来研究经济问题。
(2) 实证分析法:这种方法通过实证数据来衡量不同变量之间的关系,以此来研究经济问题。
(3) 模型分析法:这种方法通过分析不同变量之间的关系来说明经济问题的本质。
5. 经济学的三个主要分支是:(1) 微观经济学:这是一门关于个体或小团体如何分配有限资源来满足无限需求的学科。
它包括如何决定价格、如何影响供求关系、如何影响市场竞争、如何决定企业的生产效率、以及企业如何进行市场营销等。
(2) 宏观经济学:这是一门关于整个国家或地区如何分配有限资源来满足无限需求的学科。
它包括如何影响国民总收入、如何影响国民总产出、如何影响通货膨胀、如何影响失业率、以及如何分析和评估政府的经济政策等。
(3) 社会经济学:这是一门关于整个国家或地区如何分配有限资源来促进公平、正义和可持续发展的学科。
它包括如何影响人民生活水平、如何促进包容性发展、如何保障人权、以及如何应对气候变化、能源危机、贫困问题、人口问题等。
经济学原理(二)考试题
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1.阿尔弗雷德·马歇尔Alfred M arshall是近代英国最著名的经济学家,新古典学派的创始人。
T2.人们在进行决策时,必须做出某种选择,这是因为:( B )。
A、 选择会导致短缺B、 人们在决策时面临的资源是有限的C、 人是自私的,所做出的选择会实现自身利益的最大化D、 个人对市场的影响是微不足道的范里安的著作。
T3.《微观经济学——现代观点》是哈尔·R·4.我的答案:D经济学是研究如何将稀缺资源用于最有效的用途(简称资源配置问题)的一门学科。
T5.社会会面临平等与效率之间的权衡。
T1.边际变动( B )。
A、 对公共政策并不重要B、 是对现有计划的微小增量改变C、 使结果无效率D、 并不影响激励6.机会成本是指将一种资源用于某种用途,而未用于其他用途所放弃的最小预期收益。
F7.有经济学家提出,整个经济学的内容可以简单的概括为:人们会对激励做出反应,其余的内容都是对此的解释。
T8.人们会对激励做出反应,激励不仅是正向的激励,还包括负向的激励。
T9.在国际贸易中,国与国之间如果根据各自的优势进行分工并交易,将提高全球福利。
T10.帕累托效应是由意大利经济学家、社会学家维弗雷多·帕累托提出来的。
T11.由市场配置资源意味着(B )。
A、 所有的人都会得到他想要的东西B、 资源的配置是由市场机制实现的C、 政府能够决定谁获得多少消费品D、 要得到急需的物品你只能“走后门”12.市场经济中,中央计划者的决策对众多企业和家庭决策取代,他们在市场上相互交易,决策不再受价格引导。
F13.外部性可能导致市场失灵。
T14.政府可能为了( D )而对市场经济进行干预。
A、 保护产权B、 纠正外部性引起的市场失灵C、 达到更为平等的收入分配D、 以上全对15.当政府发型了过多货币时,物价会上升。
T16.沉没成本又称沉淀成本,是指已发生或承诺、无法回收的成本。
T17.经济学是一门社会科学。
人大版微观经济学(第三版)课后答案第1-2章
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第一章引论第一部分教材配套习题本习题详解1.西方经济学的研究对象是什么?2.人类历史上的资源配置方式有哪几类?3.什么是理性人假定?4.怎样正确认识和对待西方经济学?第二章需求、供给和均衡价格第一部分教材配套习题本习题详解1. 下列各事件对x商品的需求有何影响?(1)x商品的生产厂商投入大量资金做广告宣传。
(2)生产x商品的工人的工资增加了。
(3)y商品是x商品的替代品,y商品的价格下降了。
(4)消费者的收入增加了。
解答:(1)x 商品的生产厂商投入大量资金做广告宣传,提高商品的知名度和消费者对商品的偏好,导致在每一价格下,消费者对商品需求量增加,使需求曲线向右移动。
(2)生产x 商品的工人的工资增加了。
对x商品的需求没有直接影响,需求曲线不变,但是工人的工资增加,增加了生产成本,使供给曲线向左上移动,需求不变供给减少,导致均衡价格上升,均衡数量减少。
(3)y 商品是x 商品的替代品,y 商品的价格下降了,x 商品相对贵了,消费者用y商品替代x商品,导致在每一价格下,消费者对商品需求量减少,使需求曲线向左移动。
(4)若消费者消费的是正常商品,消费者的收入增加了,在每一价格下,消费者对商品需求量增加,使需求曲线向右移动;若消费者消费的是劣商品(抵挡商品),导致在每一价格下,消费者对商品需求量减少,使需求曲线向左移动。
2. 下列各事件对棉花供给有何影响?(1)气候恶劣导致棉花歉收。
(2)种植棉花所需的化肥的价格上升。
(3)政府对种植棉花的农户实施优惠政策。
(4)棉花价格上升。
下列事件对棉花供给有何影响?(1)气候恶劣导致棉花歉收。
解答:(1)棉花的供给曲线会左移。
因为恶劣气候导致的棉花歉收, 在棉花价格不变的情况下,会使棉花的供给数量减少,棉花的供给曲线会左移。
(2)棉花的供给曲线会左移。
因为化肥价格上升使得棉花的生产成本上升、利润下降,在任一价格水平下,农户都会缩小棉花种植面积,导致棉花供给数量下降, 棉花的供给曲线会左移。
《经济学原理》习题+参考答案
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《经济学原理》习题+参考答案一、单选题(共60题,每题1分,共60分)1、经济周期中的萧条阶段的特征是()。
A、国民收入与经济活动高于正常水平B、国民收入与经济活动等于正常水平C、国民收入与经济活动低于正常水平D、生产迅速增加,投资增加,信用扩张正确答案:C2、财政政策是指()。
A、周期性变动的预算B、为使政府收支相抵的手段C、政府管理价格的手段D、利用税收、支出和债务管理等政策来实现宏观经济目标正确答案:D3、按货币单位衡量的变量()。
A、名义GDPB、名义汇率C、名义利率D、名义变量正确答案:D4、按实物单位衡量的变量()。
A、真实GDPB、真实利率C、真实汇率D、真实变量正确答案:D5、在以下四种情况下,可称为通货膨胀的是()。
A、一种物品或几种物品的价格水平上升而且持续了一定时期B、物价总水平的上升持续了一个星期后又下降了C、物价总水平上升而且持续了一定时期D、物价总水平下降而且持续了一定时期正确答案:C6、当消费者对商品X的消费达到饱和点时,则边际效用MUx为()。
A、正值B、不确定C、零D、负值正确答案:C7、要缓和结构性失业,应该实行()。
A、人力政策B、财政政策C、收入政策D、货币政策正确答案:A8、中央银行在公开市场卖出政府债券是企图()。
A、减少流通中基础货币以紧缩货币供给B、收集一笔资金帮助政府弥补财政赤字C、通过买卖债券获得差价利益D、减少商业银行在中央银行的存款正确答案:D9、公共产品具有以下哪个特征()。
A、排他性B、竞争性C、非排他性和非竞争性D、以上全对正确答案:C10、在总需求不变时,短期总供给的增加会引起 ( )。
A、国民收入减少,价格水平下降B、国民收入增加,价格水平上升C、国民收入减少,价格水平上升D、国民收入增加,价格水平下降正确答案:D11、投资乘数等于()。
A、收入变化除以投资变化B、投资变化除以收入变化C、MPC的倒数D、1-MPS的倒数正确答案:D12、下面哪一项不是政府职能()A、在市场上决定产品的价格B、提供公共物品C、用行政与法律手段解决市场失灵D、对自然垄断实行价格管制正确答案:A13、货币数量论认为,可得到的()决定物价水平。
宏观经济学第三版答案(除计算题外,已整理)
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第二章习题答案二、BCACB CBCAB1.B。
最终产品是指最终供人们使用或消费而不是为了转卖或为进一步加工所购买的商品和服务。
3.A.从支出的角度,政府给贫困家庭发放的一笔救济金属于政府对居民的转移支付,并没有相应的新价值被创造;从收入的角度,这笔救济金也并不属于劳动创造的要素收入。
因此不能计入GDP中。
6.C. 判断一个变量是流量还是存量,一个简单的标准就是看它是否可以相加.7.B.GDP是包括折旧的,所以其中的投资表示的是总投资而非净投资。
9.A.净投资=总投资—折旧。
10.B.第六年的名义GDP=第六年的价格×第六年的产量=2第一年的价格×1.4第一年的产量=2.8第一年的名义GDP=2.8×500=1400.三、×√√√×××1. ×。
根据统计局的核算估计原则,农民生产且用于自己消费的产品是应该以估算价值计入GDP的.2.√.3.√.4.√.自己房屋以虚拟租金记入GDP主要考虑的是机会成本的问题。
5.×.名义GDP上升的幅度超过价格上升的幅度,实际GDP应该是上升的。
6.×。
收入法之“收入”,是国民收入初次分配形成的收入而非最终收入。
个人从公司债券中获得的利息被视为要素报酬的一种,计入GDP;而政府公债利息属转移支付,属国民收入的再分配。
7.×.GNP=GDP+本国居民在国外的收入-外国居民在本国的收入四、简答题1. 简述国内生产总值、国内生产净值、国民收入、个人收入、个人可支配收入之间的关系。
答:国内生产总值GDP是指一个国家在一定时期内所生产的最终产品和劳务的市场价值总额,是一个地域的概念;国内生产净值NDP是指国内生产总值扣除折旧后的余额,即NDP=GDP—折旧;而国民收入NI是指一国生产要素所有者在一定时期内从生产中所获得的全部收入,狭义NI=NDP—间接税。
个人收入PI,是指经过收入再分配后的国民收入,PI=NI-公司留存利润-公司所得税+政府对个人的转移支付;而个人可支配收入DPI是指个人收入扣除个人所得税之后的余额,即DPI=PI-个人所得税。
《经济学原理Ⅱ》练习题
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宏观练习题第十二章宏观经济的基本指标及其衡量一、单项选择题1、一国的国内生产总值大于国民生产总值,则该国公民从国外取得的收入()外国公民从该国取得的收入。
A、大于B、小于C、等于D、不能确定2、在四部门经济中,GDP是指()的总和。
A、消费、净投资、政府购买和净出口B、消费、总投资、政府购买和净出口C、消费、总投资、政府购买和总出口D、消费、净投资、政府购买和总出口3、在一般情况下,国民收入核算体系中,数值最小的是()。
A、国民生产净值B、个人收入C、个人可支配收入D、国民收入4、按百分比计算,如果名义GDP上升()价格上升的幅度,则实际GDP 将()。
A、小于,下降B、超过,不变C、小于,不变D、超过,下降5、经济增长问题以实际GDP的数值来衡量的,这是因为()。
A、产出逐年变化B、收入法与支出法得出的数字并不相等C、逐年的名义GDP差别太大D、价格水平逐年变化6、在GDP统计中,负的总投资数字()。
A、不可能出现B、可能出现,若折旧足够大的话C、可能由于库存大幅度减少而引起D、将意味着经济中所生产的超过其消费的7、已知,C=3000亿元,I=800亿元,G=960亿元,X=200亿元,M=160亿元,折旧=400亿元,则()不正确。
A、GDP=3800亿元B、NDP=4400亿元C、净出口=40亿元D、GDP=4800亿元8、下列哪一项不列入国内生产总值的核算()?A、出口到国外的一批贷物B、政府给困难家庭发放的一笔救济金C、经纪人为一座旧房买卖收取一笔佣金D、保险公司收到一笔家庭财产保险费9、经济学上的投资是指()。
A、企业增加一笔存货B、建造一座住宅C、企业购买一台计算机D、以上都是10、在下列项目中,()不属于政府购买。
A、地方政府办三所中学校B、政府给低收入者提供一笔住房补贴C、政府订购一批军火D、政府给劳务人员增加薪水11、所谓净出口是指()。
A、出口减进口B、进口减出口C、出口加进口D、GDP减出口12、在国民收入核算体系中,计入GDP的政府支出是指()。
经济学原理第三版习题答案
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SOLUTIONS TO TEXT PROBLEMS:Quick Quizzes1. When a competitive firm doubles the amount it sells, the price remains the same, so its totalrevenue doubles.2. The price faced by a profit-maximizing firm is equal to its marginal cost because if price were abovemarginal cost, the firm could increase profits by increasing output, while if price were belowmarginal cost, the firm could increase profits by decreasing output.A profit-maximizing firm decides to shut down in the short run when price is less than averagevariable cost. In the long run, a firm will exit a market when price is less than average total cost.3. In the long run, with free entry and exit, the price in the market is equal to both a firm’s marginalcost and its average total cost, as Figure 1 shows. The firm chooses its quantity so that marginal cost equals price; doing so ensures that the firm is maximizing its profit. In the long run, entry into and exit from the industry drive the price of the good to the minimum point on theaverage-total-cost curve.Figure 1Questions for Review1. A competitive firm is a firm in a market in which: (1) there are many buyers and many sellers inthe market; (2) the goods offered by the various sellers are largely the same; and (3) usually firms can freely enter or exit the market.2. Figure 2 shows the cost curves for a typical firm. For a given price (such as P*), the level of outputthat maximizes profit is the output where marginal cost equals price (Q*), as long as price is greater than average variable cost at that point (in the short run), or greater than average total cost (in the long run).Figure 23. A firm will shut down temporarily if the revenue it would get from producing is less than thevariable costs of production. This occurs if price is less than average variable cost.4. A firm will exit a market if the revenue it would get if it stayed in business is less than its total cost.This occurs if price is less than average total cost.5. A firm's price equals marginal cost in both the short run and the long run. In both the short runand the long run, price equals marginal revenue. The firm should increase output as long asmarginal revenue exceeds marginal cost, and reduce output if marginal revenue is less thanmarginal cost. Profits are maximized when marginal revenue equals marginal cost.6. The firm's price equals the minimum of average total cost only in the long run. In the short run,price may be greater than average total cost, in which case the firm is making profits, or price may be less than average total cost, in which case the firm is making losses. But the situation isdifferent in the long run. If firms are making profits, other firms will enter the industry, which will lower the price of the good. If firms are making losses, they will exit the industry, which will raise the price of the good. Entry or exit continues until firms are making neither profits nor losses. At that point, price equals average total cost.7. Market supply curves are typically more elastic in the long run than in the short run. In acompetitive market, since entry or exit occurs until price equals the minimum of average total cost, the supply curve is perfectly elastic in the long run.Problems and Applications1. A competitive market is one in which: (1) there are many buyers and many sellers in the market;(2) the goods offered by the various sellers are largely the same; and (3) usually firms can freelyenter or exit the market. Of these goods, bottled water is probably the closest to a competitive market. Tap water is a natural monopoly because there's only one seller. Cola and beer are not perfectly competitive because every brand is slightly different.2. Since a new customer is offering to pay $300 for one dose, marginal revenue between 200 and 201doses is $300. So we must find out if marginal cost is greater than or less than $300. To do this, calculate total cost for 200 doses and 201 doses, and calculate the increase in total cost.Multiplying quantity by average total cost, we find that total cost rises from $40,000 to $40,401, so marginal cost is $401. So your roommate should not make the additional dose.3. a. Remembering that price equals marginal cost when firms are maximizing profit, we knowthe marginal cost must be 30 cents, since that is the price.b. The industry is not in long-run equilibrium since price exceeds average total cost.4. Once you have ordered the dinner, its cost is sunk, so it does not represent an opportunity cost.As a result, the cost of the dinner should not influence your decision about stuffing yourself.5. Since Bob’s average total cost is $280/10 = $28, which is greater than the price, he will exit theindustry in the long run. Since fixed cost is $30, average variable cost is ($280 - $30)/10 = $25, which is less than price, so Bob won’t shut down in the short run.6. Here’s the table showing costs, revenues, and profits:a. The firm should produce 5 or 6 units to maximize profit.b. Marginal revenue and marginal cost are graphed in Figure 3. The curves cross at aquantity between 5 and 6 units, yielding the same answer as in part (a).c. This industry is competitive since marginal revenue is the same for each quantity. Theindustry is not in long-run equilibrium, since profit is positive.Figure 37. a. Figure 4 shows the short-run effect of declining demand for beef. The shift of theindustry demand curve from D1 to D2 reduces the quantity from Q1 to Q2 and reduces theprice from P1 to P2. This affects the firm, reducing its quantity from q1 to q2. Before thedecline in the price, the firm was making zero profits; afterwards, profits are negative, asaverage total cost exceeds price.Figure 4b. Figure 5 shows the long-run effect of declining demand for beef. Since firms were losingmoney in the short run, some firms leave the industry. This shifts the supply curve fromS1 to S3. The shift of the supply curve is just enough to increase the price back to itsoriginal level, P1. As a result, industry output falls still further, to Q3. For firms thatremain in the industry, the rise in the price to P1 returns them to their original situation,producing quantity q1 and earning zero profits.Figure 58. Figure 6 shows that although high prices cause an industry to expand, entry into the industryeventually returns prices to the point of minimum average total cost. In the figure, the industry is originally in long-run equilibrium. The industry produces output Q1, where supply curve S1intersects demand curve D1, and the price is P1. At this point the typical firm produces output q1.Since price equals average total cost at that point, the firm makes zero economic profit.Now suppose an increase in demand occurs, with the demand curve shifting to D2. This causes "high prices" in the industry, as the price rises to P2. It also causes the industry to increase output to Q2. With the higher price, the typical firm increases its output from q1 to q2, and now makes positive profits, since price exceeds average total cost.However, the positive profits that firms earn encourage other firms to enter the industry. Their entry, "an expansion in an industry," leads the supply curve to shift to S3. The new equilibrium reduces the price back to P1, "bringing an end to high prices and manufacturers' prosperity," since now firms produce q1 and earn zero profit again. The only long-lasting effect is that industryoutput is Q3, a higher level than originally.Figure 69. a. Figure 7 shows the typical firm in the industry, with average total cost ATC1, marginal costMC1, and price P1.b. The new process reduces Hi-Tech’s marginal cost to MC2 and its average total cost to ATC2,but the price remains at P1 since other firms cannot use the new process. Thus Hi-Techearns positive profits.c. When the patent expires and other firms are free to use the technology, all firms’average-total-cost curves decline to ATC2, so the market price falls to P3 and firms earn noprofits.Figure 710. The rise in the price of petroleum increases production costs for individual firms and thus shifts theindustry supply curve up, as shown in Figure 8. The typical firm's initial marginal-cost curve is MC1 and its average-total-cost curve is ATC1. In the initial equilibrium, the industry supply curve, S1, intersects the demand curve at price P1, which is equal to the minimum average total cost of the typical firm. Thus the typical firm earns no economic profit.The increase in the price of oil shifts the typical firm's cost curves up to MC2 and ATC2, and shifts the industry supply curve up to S2. The equilibrium price rises from P1 to P2, but the price does not increase by as much as the increase in marginal cost for the firm. As a result, price is less than average total cost for the firm, so profits are negative.In the long run, the negative profits lead some firms to exit the industry. As they do so, theindustry-supply curve shifts to the left. This continues until the price rises to equal the minimum point on the firm's average-total-cost curve. The long-run equilibrium occurs with supply curve S3, equilibrium price P3, industry output Q3, and firm's output q3. Thus, in the long run, profits arezero again and there are fewer firms in the industry.Figure 811. a. Figure 9 illustrates the situation in the U.S. textile industry. With no international trade,the market is in long-run equilibrium. Supply intersects demand at quantity Q1 and price$30, with a typical firm producing output q1.Figure 9b. The effect of imports at $25 is that the market supply curve follows the old supply curve upto a price of $25, then becomes horizontal at that price. As a result, demand exceedsdomestic supply, so the country imports textiles from other countries. The typicaldomestic firm now reduces its output from q1 to q2, incurring losses, since the large fixedcosts imply that average total cost will be much higher than the price.c. In the long run, domestic firms will be unable to compete with foreign firms because theircosts are too high. All the domestic firms will exit the industry and other countries willsupply enough to satisfy the entire domestic demand.12. a. Figure 10 shows the current equilibrium in the market for pretzels. The supply curve, S1,intersects the demand curve at price P1. Each stand produces quantity q1 of pretzels, sothe total number of pretzels produced is 1,000 x q1. Stands earn zero profit, since priceequals average total cost.b. If the city government restricts the number of pretzel stands to 800, the industry-supplycurve shifts to S2. The market price rises to P2, and individual firms produce output q2.Industry output is now 800 x q2. Now the price exceeds average total cost, so each firm ismaking a positive profit. Without restrictions on the market, this would induce other firmsto enter the market, but they cannot, since the government has limited the number oflicenses.c. The city could charge a license fee for the licenses. Since it is a lump-sum fee for thelicense, not based on the quantity of sales, such a tax has no effect on marginal cost, sowon't affect the firm's output. It will, however, reduce the firm's profits. As long as thefirm is left with a zero or positive profit, it will continue to operate. So the license fee thatbrings the most money to the city is to charge each firm the amount (P2 - ATC2)q2, theamount of the firm's profit.Figure 1013. a. Figure 11 illustrates the gold market (industry) and a representative gold mine (firm).The demand curve, D1, intersects the supply curve at industry quantity Q1 and price P1.Since the industry is in long-run equilibrium, the price equals the minimum point on therepresentative firm's average total cost curve, so the firm produces output q1 and makeszero profit.b. The increase in jewelry demand leads to an increase in the demand for gold, shifting thedemand curve to D2. In the short run, the price rises to P2, industry output rises to Q2,and the representative firm's output rises to q2. Since price now exceeds average totalcost, the representative firm now earns positive profits.c. Since gold mines are earning positive economic profits, over time other firms will enter theindustry. This will shift the supply curve to the right, reducing the price below P2. Butit's unlikely that the price will fall all the way back to P1, since gold is in short supply.Costs for new firms are likely to be higher than for older firms, since they'll have to discovernew gold sources. So it's likely that the long-run supply curve in the gold industry isupward sloping. That means the long-run equilibrium price will be higher than it wasinitially.Figure 1114. a. Figure 12 shows cost curves for a California refiner and a non-California refiner. Since theCalifornia refiner has access to lower-cost oil, its costs are lower.Figure 12b. In long-run equilibrium, the price is determined by the costs of non-California refiners,since California refiners cannot supply the entire market. The market price will equal theminimum average total cost of the other refiners; they will thus earn zero profits. SinceCalifornia refiners have lower costs, they will earn positive profits, equal to (P* - ATC C) xQ C.c. Yes, there is a subsidy to California refiners that is not passed on to consumers. Thesubsidy accounts for the long-run profits of the California refiners. It arises simplybecause the oil cannot be exported.。
经济学原理课后参考答案
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经济学基础第一章1、什么是经济学? 如何理解资源的有限性和人类欲望的无限性?答:(1)经济学是研究社会经济问题的一门社会科学,经济学研究的是社会如何利用稀缺的资源以生产有价值的商品,并将它们分配给不同的人。
(2)资源的有限性和人类欲望的无限性是对立统一的关系,对立性表现在:相对于人类无限多样性的欲望而言,经济资源的数量、质量和种类总是不足的。
统一性表现在:人类欲望的无限性和资源的有限性同时存在,要求人们在有限的资源的多种用途中进行权衡比较,有效地利用资源,更好地满足人们的欲望。
2、试举例说明学习经济学和现实生活的意义。
答:(1)学习经济学能更好地理解经济现象。
例如,今年武汉的苹果、香蕉等外来水果价格出现了显著上涨,并且持续到现在。
水果价格上涨是什么因素引起的?它对人们的生活会产生什么影响?学习了经济学就能合理解释这一现象----由于西南地区出现严重干旱,导致武汉外来水果供应量骤减,使之供不应求,价格上涨。
(2)理解和评价政府的经济政策。
例如,2008年底国家决定投资4万亿对国民经济的拉动作用有多大?2009年号召全国搞低碳经济,低碳经济将如何展开?(3)指导企业经济决策。
例如,企业在不同时期会面临不同决定。
当市场不景气,企业遭受亏损,是停止生产还是继续生产?是否要做广告?做什么样的广告?解决这些问题,需要现代管理决策工具,而经济学是现代决策工具的理论基础。
(4)能避免运用经济理论是常见的错误倾向。
例如,合成谬误的例子,只有一个家庭购买轿车会大大方便出行,而当所有的家庭都拥有了自己的私家车之后,道路、停车场可能车满为患,反而不如大家都乘坐公交方便。
3、微观经济学与宏观经济学之间的关系是什么?答:微观经济学与宏观经济学既相互区别又相互联系。
区别表现在:(1)从研究对象上看,微观经济学研究单个经济单位元,宏观经济学研究整个国民经济的活动;(2)从解决问题上看,微观经济学解决资源的有效配置问题,而宏观经济学解决资源的充分利用问题;(3)从中心理论上看,微观经济学是价格理论,宏观经济学是国民收入决定理论;(4)从研究方法上看,微观经济学是个量分析,宏观经济学是总量分析。
西方经济学第三版课后答案 计算题版
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西经课后答案第二章一、思考题1.什么是需求和供给?影响需求和供给变化的因素有哪些?2.说明需求量变动和需求变动的区别及供给量变动和供给变动的区别。
3.均衡价格是如何形成的?市场价格机制的主要内容是什么?4.如何理解弹性原理在价格机制理论中的作用?5.运用供求原理解释“丰收悖论”(即丰收通常会降低农民的收入)。
6.什么是供求定理?结合现实经济生活的实例给予说明。
7.分析价格管制政策的原因及其影响。
8.什么是恩格尔定律?分析该定律所具有的经济意义。
9.运用蛛网定理解释对农产品的支持价格政策。
二、计算题1.根据统计研究结果,1998年美国小麦生产的供给曲线为:Q s=1944+207P。
对美国生产的小麦的需求曲线为:Q D =3244—283P。
式中,价格是以美元/蒲式耳为单位来计算的;数量是以百万蒲式耳/年为单位的。
(a)该年每蒲式耳小麦的均衡价格是多少?小麦的均衡数量是多少?(b)小麦的需求价格弹性和供给价格弹性分别是多少?(c)假设干旱使小麦的供给曲线向左移动导致小麦的价格上涨至每蒲式耳3美元,计算的需求量和需求的价格弹性分别是多少?(a(b)计算价格在80元~100元之间和在100元~120元价格之间的需求价格弹性。
(c)计算价格在80~100元之间的供给价格弹性。
参考答案:二、计算题1.解:(a)联立小麦的供给曲线和需求曲线的方程Q s=1944+207PQ D=3244-283PQ s =Q D=Q解得Q≈2493,P≈2.65(b)均衡点的需求价格弹性:E d=ΔQ/Q÷ΔP/P=ΔQ/ΔP×P/Q=-283×(2.65/2493)=-0.3均衡点的供给价格弹性:E s=ΔQ/Q÷ΔP/P=ΔQ/ΔP×P/Q=207×(2.65/2493)=0.22(c)将小麦的价格P每蒲式耳3美元代入需求曲线的方程Q D=3244-283P,解得Q D=2395;新均衡点的需求价格弹性:E d=ΔQ/Q÷ΔP/P=ΔQ/ΔP×P/Q=-283×(3/2395)=-0.3542.解:(a)照相机的供给曲线和需求曲线如下图所示:(b)80元~100元之间E D=ΔQ/ΔP×(P1+P2)/(Q1+Q2)=(200-180)/(80-100)×(100+80)/(180+200)=-0.47100元~120元之间E D=ΔQ/ΔP×(P1+P2)/(Q1+Q2)=(180-160)/(100-120)×(120+100)/(160+180)=-0.65(c)80~100元之间E S=ΔQ/ΔP×(P1+P2)/(Q1+Q2)=(180-160)/(100-80)×(80+100)/(160+180)=0.53第三章效用论与消费者行为一、思考题1.分析基数效用论与序数效用论的异同之处。
经济学基础第三版习题答案
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第一章1,一般的,相对于人类社会的无限欲望而言,生产人类所需物品的资源总是不足的。
这就是资源的稀缺性。
资源的稀缺性不是指资源绝对数量的多少,而是指相对于无限的欲望而言,再多的资源也是不足的。
即稀缺性是就相对意义而言的。
欲望的基本特点在于无限性,即人们得欲望永远没有完全得到满足的时候,人的欲望要用各种物品或劳务来满足,而物品要用各种资源来生产,这些资源包括人力资源和自然资源。
然而,人类赖以生存的地球的资源是有限的,这样无限的欲望与有限的资源的矛盾就形成了经济学所说的稀缺性。
2,人类社会作面临的基本问题。
面对资源稀缺性的事实,人类社会都必须面对和解决三个基本的经济问题。
他们是:生产什么,如何生产和为谁生产。
(1)生产什么商品和生产多少。
一个社会必须决定,在诸多可能的物品和劳务中,每一种应该生产多少以及何时生产,生产多少消费品和投资品。
(2)如何生产物品。
一个社会必须决定谁来生产,使用何种资源,以及采用何种生产技术。
(3)为谁生产。
谁来享用经济活动的成果?收入和财富的分配是公平合理的吗?社会产品如何在不同的居民之间进行分配?是否会出现贫富差距?3,微观经济学以单个经济单位为研究对象,通过研究单个经济单位的经济行为和相应的经济变量数值的决定来说明价格机制如何解决社会的资源配置问题。
可见,微观经济学研究的对象是单个经济单位的经济行为,即家庭和企业的经济行为。
微观经济学解决的问题是资源配置。
微观经济学的中心理论是价格理论。
微观经济学的研究方法是个量分析。
相对而言,宏观经济学以整个国民经济为研究对象,通过研究经济中各有关总量的决定及其变化,来说明资源如何才能得到充分利用。
可见,与微观经济学的几个方面相对应的,宏观经济学研究的对象是整个经济。
而不是经济中的各个单位。
宏观经济学解决的问题是资源利用。
它把资源配置最为既定的前提,研究现有资源未能得到充分利用的原因,大到充分利用的途径,以及如何增长等问题。
宏观经济学的中心理论是国民收入决定理论。
西方经济学第三版课后答案(第一至第九章)
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西经课后答案第二章一、思考题1.什么是需求和供给?影响需求和供给变化的因素有哪些?1.答:(1)需求(Demand)是指消费者在某个价格水平下愿意并且能够购买的商品或劳务的数量,它以消费者的支付能力为基础。
对某种商品的需求是受很多因素影响的,如该商品本身的价格高低,与该商品相关商品的价格高低,消费者的收入水平,市场流行的时尚和消费者的偏好,人口以及由此决定的市场范围,历史传统、民族风俗、社会风尚、地理气候、文化习惯、消费示范和攀比、广告的影响,等等。
消费者的收入水平是影响商品需求的一个重要因素。
对多数商品来说,如果消费者的收入提高,即使价格不变,消费者也有能力在每一个价格水平上购买更多的商品。
因此,收入提高将增加对商品的需求量。
然而,对某些商品来说,情况恰好相反。
这些商品主要是穷人赖以为生的食品,如土豆、面包等等。
收入水平提高后,对这些物品的需求量反而会下降,因为当穷人变得更有钱时,他们将会更多地消费更有营养的食品,而相应地减少对价格低廉且营养较差的食品的消费。
如果一种商品的需求随着收入的增加而增加,随着收入的减少而减少,那么我们就称这种商品为正常品(normal good),如果这种商品的需求随着收入的增加而减少,随着收入的减少而增加,那么我们就称这种商品为低档品(inferior good)。
当一种商品本身的价格保持不变,而和它相关的其他商品的价格发生变动时,这种商品本身的需求量也会发生变化。
西方经济学把相关商品分为两种:替代品(substitutes)和互补品(complements)。
一种商品的替代品是指可以替代这种商品消费的另外一种商品,如茶是咖啡的替代品,猪肉是牛肉的替代品,等等。
一种商品的互补品是指必须和该商品一起消费的另外一种商品,如汽油是汽车的互补品,显示器是电脑主机的互补品,左手套是右手套的互补品,等等。
如果某种商品的替代品价格上升,那么该商品的需求增加;如果某种商品的替代品价格下降,那么该商品的需求减少。
经济学原理练习册答案(第二稿)2
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第七章 国民所得与收入再分配
一、名词解释 1.国民生产总值(GNP):是指一个国家的国民在一年内所生产的最终
产品与劳务的市场价值的总和。 2.国内生产总值(GDP):是指一个国家或地区内的人民在一年内生产的
最终产品与劳务的市场价值的总和。 3.货币政策:是指中央银行通过改变货币供给来调节率,从而影响社会
第九章 经济增长与失业、通货膨胀
一、名词解释 1.失业:是指凡是在一定年龄范围内具有劳动能力、愿意工作而没有工
作的人所处的状况。 2.通货膨胀:是指因纸币的发行量超过商品流通中的实际需要量而引 起的货币贬值和物价水平普遍持续上涨现象。 3.经济周期:是指总体经济活动在增长过程中循环出现持续一段时期的扩
第六章 为谁生产
一、名词解释 1.利息:是厂商在一定时期内使用资本生产力所支付的代价,或者说是资
本所有者在一定时期内因让渡资本使用权而承担风险所获得的报酬. 2地租:是指在一定时期内,使用土地得价格称为土地的租金,也是土
地所有者的收入,由土地的需求和供给所决定。 3级差地租:由于土地本身质量、位置差异而产生或者说由于土地的等
第二 需求和供给反方向变动。需求增加,供给减少,均衡价格上 升。同样需求减少,供给增加均衡价格必然下降。
第五章 交易规则与市场结构
一、名词解释 1.完全竞争:是指市场中没有丝毫的垄断因素,所有市场主体没有任何垄 断意识. 2.生产者剩余:指厂商在提供一定数量的某种产品时,实际接受的总 支付和愿意接受的最小总支付之间的差额。 3垄断竞争:是指在这种市场结构中,既存在竞争因素,又存在着垄断 因素。
答:1.市场经济活动经常受到经济波动的影响,使稀缺资源得不到充 分利用;
经济学原理习题答案 (2)
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第一章经济学十大原理复习题1.列举三个你在生活中面临的重要权衡取舍的例子。
答:①大学毕业后,面临着是否继续深造的选择,选择继续上学攻读研究生学位,就意味着在今后三年中放弃参加工作、赚工资和积累社会经验的机会;②在学习内容上也面临着很重要的权衡取舍,如果学习《经济学》,就要减少学习英语或其他专业课的时间;③对于不多的生活费的分配同样面临权衡取舍,要多买书,就要减少在吃饭、买衣服等其他方面的开支。
2.看一场电影的机会成本是什么?答:看一场电影的机会成本是在看电影的时间里做其他事情所能获得的最大收益,例如:看书、打零工。
3.水是生活必需的。
一杯水的边际利益是大还是小呢?答:这要看这杯水是在什么样的情况下喝,如果这是一个人五分钟内喝下的第五杯水,那么他的边际利益很小,有可能为负;如果这是一个极度干渴的人喝下的第一杯水,那么他的边际利益将会极大。
4.为什么决策者应该考虑激励?答:因为人们会对激励做出反应。
如果政策改变了激励,它将使人们改变自己的行为,当决策者未能考虑到行为如何由于政策的原因而变化时,他们的政策往往会产生意想不到的效果。
5.为什么各国之间的贸易不像竞赛一样有赢家和输家呢?答:因为贸易使各国可以专门从事自己最擅长的活动,并从中享有更多的各种各样的物品与劳务。
通过贸易使每个国家可供消费的物质财富增加,经济状况变得更好。
因此,各个贸易国之间既是竞争对手,又是经济合作伙伴。
在公平的贸易中是“双赢”或者“多赢”的结果。
6.市场中的那只“看不见的手”在做什么呢?答:市场中那只“看不见的手”就是商品价格,价格反映商品自身的价值和社会成本,市场中的企业和家庭在作出买卖决策时都要关注价格。
因此,他们也会不自觉地考虑自己行为的(社会)收益和成本。
从而,这只“看不见的手”指引着千百万个体决策者在大多数情况下使社会福利趋向最大化。
7.解释市场失灵的两个主要原因,并各举出一个例子。
答:市场失灵的主要原因是外部性和市场势力。
高教社经济学基础(第三版)习题答案
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一、单项选择题1.C2.A3.D4.B5.A6.A7.D8.C9.D 10.B二、判断题1.√2.X3.X4.X5.X6.√三、简答题1.稀缺性产生于人类欲望的无限性与资源的有限性这一矛盾。
稀缺性强调的不是资源绝对数量的多少,而是相对于欲望无限性的有限性;稀缺性是人类社会永远存在的问题,任何人在任何社会、任何时候都无法摆脱稀缺性,相对于人们的愿望资源总是稀缺的;经济学正是由于稀缺性的存在而产生的。
没有稀缺性就没有经济学存在的必要。
2.机会成本是指当一项资源被用于某一活动时所放弃的将该项资源用于其他活动中所能获得的最大的收益。
3. 实证分析法不带价值判断,所表述的问题可以用事实、证据或者从逻辑上加以证明或证伪,即“是什么”;而规范分析是以一定的价值判断为基础,提出分析问题的理论标准,并研究如何才能符合这些标准,即“应该是什么”,它研究的内容没有客观性,其结论也无法通过事实来直接检验。
一、单项选择题1.A2.D3.A4.A5.C6.A7.B8.D9.A 10.C二、判断题1.X2.X3.X4.√5.√6.√7.X8.X9.X 10.√三、简答题1.影响需求的因素:商品自身的价格、消费者的收入、相关商品价格、消费者的偏好、消费者的预期;影响供给的因素:商品本身的价格、生产要素的价格、相关商品价格、技术水平、对未来的预期;2.根据凡勃伦效应,消费者购买高档商品大多是为了满足炫耀的需求。
当高档名牌服装在超市打折后,消费者对这种商品的偏好发生了变化,使得需求曲线左移。
所以,一方面,根据需求规律,打折后该商品的需求量有所上升,另一方面,偏好的变化使得需求减少了,如果需求的减少超过了需求量的增加,该商品打折后反而卖不出去。
3.均衡价格是指一种商品需求量与供给量相等时的价格。
供需定理:(1)需求的变动引起均衡价格和均衡数量同方向变动(2)供给的变动引起均衡价格反方向变动和均衡数量的同方向变动(3)需求和供给同方向变动引起均衡数量同方向变动,但均衡价格的变动则不确定(存在上升、下降或不变三种可能)。
经济学原理课后习题参考答案
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政府为了抑制通货膨胀会减少流通中的货币量,人们可用的货币量减少,但商品价格在短期内具有粘性仍居高不下,于是社会消费的商品和劳务量减少,消费量不足又会引起企业开工不足,导致失业。
失业率高,通胀率低;失业率低,通胀率高。
通货膨胀和失业之间是此消彼长、相互交替的关系。
1.描述下列每种情形中当事人面对的权衡:a.某个家庭决定是否购买一辆新车;a tradeoff between the cost of the car and other things they might want to buy.b.国会成员决定对国家公园拨多少款the tradeoff is between parks and other spending items or tax cuts.(不增加拨款可少征税)c.公司总裁决定是否建个新工厂;the decision is based on whether the new factory will increase the firm's profits compared to other alternatives. (upgrade existing equipment or expand existing factories)increase profit the mostd.某个教授决定用多少时间备课between the value of improving the qualityof the lecture compared toother things she could do with her time, such as working on additional research.e.刚毕业的大学生决定是否读研究生2.你正决定是否去度假。
度假的大部分成本(机票、住宿费和放弃的工资)是用货币衡量的,但度假的收益是心理上的。
你如何比较度假的收益和成本?two ways:pare the vacation with what you would do in its place。
《微观经济学》第三版第一章第二章答案
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第一章一、名词解释1.供给价格弹性是指一种商品的供给量的变动对其价格变动的反应程度。
2.均衡价格需求曲线与供给曲线的交点所对应的价格。
3.资源的稀缺性相对于人们无限多样、不断上升的需要来说,用以满足这些需要的手段,即有用的资源,是相对不足的。
4.需求需求是指消费者在一定的时期内,在一定的价格下愿意并能够购买得商品数量。
二、计算题1.某人对消费品X的需求函数P=100-Q,分别计算价格P=60和P=40时的价格弹性系数。
由P=100-Q得Q=(100-P)2(1分)这样Ed=(dQ/dP)·(P/Q) =2(100-P)(-1)P/(100-P)2= -2P/100-P (1分)于是Ed|P=60=-2×60/(100-60)=-120/40=-3 (2分)Ed|P=40=-2×40/(100-40)=-80/60=-4/3 (2分)2.某消费者对商品A的需求函数为Q=(90-P)2,分别计算价格P=60和P=40时的价格弹性系数。
由Q=(100-P)2得Ed=(dQ/dP)·(P/Q) =2(100-P)(-1)P/(100-P)2= -2P/100-P (2分)于是Ed|P=60=-2×60/(100-60)=-120/40=-3 (2分)Ed|P=40=-2×40/(100-40)=-80/60=-4/3 (2分)3.某行业对劳动的需求曲线为L=1200–10W,供给曲线为L=20W,其中L是每天的劳动需求(供给)量,W是工资率,试求其均衡工资率和每天的劳动雇佣量。
L=1200–10WL=20W20W=1200–10W (2分)30W=1200,W=40 (1分)L=1200–10W=1200–10×40=800 (1分)所以均衡工资为40,每天的劳动雇佣量为800 (2分)三、简答题1.试分析说明影响商品供给价格弹性的因素。
经济学原理第三版习题答案(II)
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SOLUTIONS TO TEXT PROBLEMS:Quick Quizzes1. The three key attributes of monopolistic competition are: (1) there are many sellers; (2) each firmproduces a slightly different product; and (3) firms can enter or exit the market freely.Figure 1 shows the long-run equilibrium in a monopolistically competitive market. Thisequilibrium differs from that in a perfectly competitive market because price exceeds marginal cost and the firm doesn’t produce at the minimum point of average total cost.Figure 12. Advertising may make markets less competitive because it manipulates people’s tastes rather thanbeing informative. Advertising gives consumers the perception that there is a greater difference between two products than really exists. That makes the demand curve for a product moreinelastic, so the firms then charge greater markups over marginal cost. However, someadvertising could make markets more competitive, since advertising is just one more method of competition between products and since it sometimes provides useful information to consumers, allowing them to more easily take advantage of price differences. In addition, expensiveadvertising can be a signal of quality. Advertising also allows entry, since advertising can be used to inform consumers about a new product.Brand names may be beneficial because they provide information to consumers about the quality of goods. They also give firms an incentive to maintain high quality, since their reputations are important. But brand names may be criticized because they may simply differentiate productsthat are not really different, as in the case of drugs that are identical but the brand-name drug sells at a much higher price than the generic drug.Questions for Review1. The three attributes of monopolistic competition are: (1) there are many sellers; (2) each sellerproduces a slightly different product; and (3) firms can enter or exit the market without restriction.Monopolistic competition is like monopoly because firms face a downward-sloping demand curve, so price exceeds marginal cost. Monopolistic competition is like perfect competition because, inthe long run, price equals average total cost, as free entry and exit drive economic profit to zero.2. In Figure 2, a firm has demand curve D1 and marginal-revenue curve MR1. The firm is makingprofits because at quantity Q1, price (P1) is above average total cost (ATC). Those profits induce other firms to enter the industry, causing the demand curve to shift to D2 and the marginal-revenue curve to shift to MR2. The result is a decline in quantity to Q2, at which point the price (P2) equals average total cost (ATC), so profits are now zero.Figure 2Figure 33. Figure 3 shows the long-run equilibrium in a monopolistically competitive market. Price equalsaverage total cost. Price is above marginal cost.4. Since, in equilibrium, price is above marginal cost, a monopolistic competitor produces too littleoutput. But this is a hard problem to solve because: (1) the administrative burden of regulating the large number of monopolistically competitive firms would be high; and (2) the firms are earning zero economic profits, so forcing them to price at marginal cost means that firms would lose money unless the government subsidized them.5. Advertising might reduce economic well-being because it is costly, manipulates people's tastes, andimpedes competition by making products appear more different than they really are. Butadvertising might increase economic well-being by providing useful information to consumers and fostering competition.6. Advertising with no apparent informational content might convey information to consumers if itprovides a signal of quality. A firm won't be willing to spend much money advertising alow-quality good, but will be willing to spend significantly more advertising a high-quality good.7. The two benefits that might arise from the existence of brand names are: (1) brand namesprovide consumers information about quality when quality cannot be easily judged in advance; and(2) brand names give firms an incentive to maintain high quality to maintain the reputation of theirbrand names.Problems and Applications1. a. The market for #2 pencils is perfectly competitive since pencils by any manufacturer areidentical and there are a large number of manufacturers.b. The market for bottled water is monopolistically competitive because of consumers'concerns about quality. As a result, each producer has a slightly different product.c. The market for copper is perfectly competitive, since all copper is identical and there are alarge number of producers.d. The market for local telephone service is monopolistic because it is a natural monopoly—itis cheaper for one firm to supply all the output.e. The market for peanut butter is monopolistically competitive because different brandnames exist with different quality characteristics.f. The market for lipstick is monopolistically competitive because lipstick from different firmsdiffers slightly, but there are a large number of firms who can enter or exit withoutrestriction.2. A monopolistic firm produces a product for which there are no close substitutes, but amonopolistically competitive firm produces a product that is only somewhat different fromsubstitute goods. So the goods differ in terms of the degree to which substitutes exist.3. Monopolistically competitive firms don't increase the quantity they produce to lower the averagecost of production because doing so would require them to lower their price. The loss in revenue from the lower price outweighs the benefits of the lower cost of production.4. a. Figure 4 illustrates the market for Sparkle toothpaste in long-run equilibrium. Theprofit-maximizing level of output is Q M and the price is P M.Figure 4b. Sparkle's profit is zero, since at quantity Q M, price equals average total cost.c. The consumer surplus from the purchase of Sparkle toothpaste is area A + B. Theefficient level of output occurs where the demand curve intersects the marginal-cost curve,at Q C. So the deadweight loss is area C, the area above marginal cost and below demand,from Q M to Q C.d. If the government forced Sparkle to produce the efficient level of output, the firm wouldlose money because average cost would exceed price, so the firm would shut down. Ifthat happened, Sparkle's customers would earn no consumer surplus.5. Since each firm in a monopolistically competitive market produces a product that is slightlydifferent from other products, a monopolistically competitive market has a large number ofproducts. But whether that number is optimal or not depends on two key externalities: theproduct-variety externality and the business-stealing externality. The product-variety externality is a positive externality to consumers from the introduction of a new product. Thebusiness-stealing externality is a negative externality because other firms lose customers andprofits from the addition of a new product. Since the entrant doesn't take these externalities into account in deciding whether or not to enter the market, it isn't clear whether the actual number of products will be optimal, above optimal, or below optimal.6. By sending Christmas cards to their customers, monopolistically competitive firms are advertisingthemselves. Since they are in a position in which price exceeds marginal cost, they would likemore customers to come in, as shown in Figure 5. Since the price, P M, exceeds marginal cost, MC M, any additional customer who pays the existing price increases the firm's profits.Figure 57. If you were thinking of entering the ice-cream business, you would want to make ice cream that isslightly different from the existing brands. By differentiating your product from others, you gain some market power.8. Many answers are possible. The answers should explain that commercials are socially useful tothe extent that they provide consumers information about the product or demonstrate from the existence of the commercial that the product is worth advertising, and thus is not of low quality.Commercials are socially wasteful to the extent that they manipulate people's tastes and try tomake products seem more different than they really are.9. a. A family-owned restaurant would be more likely to advertise than a family-owned farmbecause the output of the farm is sold in a perfectly competitive market, in which there isno reason to advertise, while the output of the restaurant is sold in a monopolisticallycompetitive market.b. A manufacturer of cars is more likely to advertise than a manufacturer of forklifts becausethere is little difference between different brands of industrial products like forklifts, whilethere are greater perceived differences between consumer products like cars. Thepossible return to advertising is greater in the case of cars than in the case of forklifts.c. A company that invented a reliable watch is likely to advertise more than a company thatinvented a less reliable watch that costs the same amount to make because the companywith the reliable watch will get many repeat sales over time to cover the cost of theadvertising, while the company with the less reliable watch will not.10. a. Perdue created a brand name for chicken by advertising. By doing so, he was able todifferentiate his product from other chicken, gaining market power.b. Society gained to the extent that Perdue has a great incentive to maintain the quality of hischicken. Society lost to the extent that the market for chicken became less competitive,with the associated deadweight loss.11. a. Figure 6 shows Tylenol's demand, marginal revenue, and marginal cost curves. Tylenol'sprice isP T, its marginal cost is MC T, and its markup over marginal cost is P T - MC T.Figure 6b. Figure 7 shows the demand, marginal revenue, and marginal cost curves for a maker ofacetaminophen. The diagrams differ in that the acetaminophen maker faces a horizontaldemand curve, while the maker of Tylenol faces a downward-sloping demand curve. Theacetaminophen maker has no markup of price over marginal cost, while the maker ofTylenol has a positive markup, because it has some market power.Figure 7c. The maker of Tylenol has a bigger incentive for careful quality control, because if qualitywere poor, the value of its brand name would deteriorate, sales would decline, and itsadvertising would be worth less.(注:可编辑下载,若有不当之处,请指正,谢谢!)。
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SOLUTIONS TO TEXT PROBLEMS:Quick Quizzes1. The three key attributes of monopolistic competition are: (1) there are many sellers; (2) each firmproduces a slightly different product; and (3) firms can enter or exit the market freely.Figure 1 shows the long-run equilibrium in a monopolistically competitive market. Thisequilibrium differs from that in a perfectly competitive market because price exceeds marginal cost and the firm doesn’t produce at the minimum point of average total cost.Figure 12. Ad vertising may make markets less competitive because it manipulates people’s tastes rather thanbeing informative. Advertising gives consumers the perception that there is a greater difference between two products than really exists. That makes the demand curve for a product moreinelastic, so the firms then charge greater markups over marginal cost. However, someadvertising could make markets more competitive, since advertising is just one more method of competition between products and since it sometimes provides useful information to consumers, allowing them to more easily take advantage of price differences. In addition, expensiveadvertising can be a signal of quality. Advertising also allows entry, since advertising can be used to inform consumers about a new product.Brand names may be beneficial because they provide information to consumers about the quality of goods. They also give firms an incentive to maintain high quality, since their reputations are important. But brand names may be criticized because they may simply differentiate productsthat are not really different, as in the case of drugs that are identical but the brand-name drug sells at a much higher price than the generic drug.Questions for Review1. The three attributes of monopolistic competition are: (1) there are many sellers; (2) each sellerproduces a slightly different product; and (3) firms can enter or exit the market without restriction.Monopolistic competition is like monopoly because firms face a downward-sloping demand curve, so price exceeds marginal cost. Monopolistic competition is like perfect competition because, in the long run, price equals average total cost, as free entry and exit drive economic profit to zero.2. In Figure 2, a firm has demand curve D1 and marginal-revenue curve MR1. The firm is makingprofits because at quantity Q1, price (P1) is above average total cost (ATC). Those profits induce other firms to enter the industry, causing the demand curve to shift to D2 and the marginal-revenue curve to shift to MR2. The result is a decline in quantity to Q2, at which point the price (P2) equals average total cost (ATC), so profits are now zero.Figure 2Figure 33. Figure 3 shows the long-run equilibrium in a monopolistically competitive market. Price equalsaverage total cost. Price is above marginal cost.4. Since, in equilibrium, price is above marginal cost, a monopolistic competitor produces too littleoutput. But this is a hard problem to solve because: (1) the administrative burden of regulating the large number of monopolistically competitive firms would be high; and (2) the firms are earning zero economic profits, so forcing them to price at marginal cost means that firms would lose money unless the government subsidized them.5. Advertising might reduce economic well-being because it is costly, manipulates people's tastes, andimpedes competition by making products appear more different than they really are. Butadvertising might increase economic well-being by providing useful information to consumers and fostering competition.6. Advertising with no apparent informational content might convey information to consumers if itprovides a signal of quality. A firm won't be willing to spend much money advertising alow-quality good, but will be willing to spend significantly more advertising a high-quality good.7. The two benefits that might arise from the existence of brand names are: (1) brand namesprovide consumers information about quality when quality cannot be easily judged in advance; and(2) brand names give firms an incentive to maintain high quality to maintain the reputation of theirbrand names.Problems and Applications1. a. The market for #2 pencils is perfectly competitive since pencils by any manufacturer areidentical and there are a large number of manufacturers.b. The market for bottled water is monopolistically competitive because of consumers'concerns about quality. As a result, each producer has a slightly different product.c. The market for copper is perfectly competitive, since all copper is identical and there are alarge number of producers.d. The market for local telephone service is monopolistic because it is a natural monopoly—itis cheaper for one firm to supply all the output.e. The market for peanut butter is monopolistically competitive because different brandnames exist with different quality characteristics.f. The market for lipstick is monopolistically competitive because lipstick from different firmsdiffers slightly, but there are a large number of firms who can enter or exit withoutrestriction.2. A monopolistic firm produces a product for which there are no close substitutes, but amonopolistically competitive firm produces a product that is only somewhat different fromsubstitute goods. So the goods differ in terms of the degree to which substitutes exist.3. Monopolistically competitive firms don't increase the quantity they produce to lower the averagecost of production because doing so would require them to lower their price. The loss in revenue from the lower price outweighs the benefits of the lower cost of production.4. a. Figure 4 illustrates the market for Sparkle toothpaste in long-run equilibrium. Theprofit-maximizing level of output is Q M and the price is P M.Figure 4b. Sparkle's profit is zero, since at quantity Q M, price equals average total cost.c. The consumer surplus from the purchase of Sparkle toothpaste is area A + B. Theefficient level of output occurs where the demand curve intersects the marginal-cost curve,at Q C. So the deadweight loss is area C, the area above marginal cost and below demand,from Q M to Q C.d. If the government forced Sparkle to produce the efficient level of output, the firm wouldlose money because average cost would exceed price, so the firm would shut down. Ifthat happened, Sparkle's customers would earn no consumer surplus.5. Since each firm in a monopolistically competitive market produces a product that is slightlydifferent from other products, a monopolistically competitive market has a large number ofproducts. But whether that number is optimal or not depends on two key externalities: theproduct-variety externality and the business-stealing externality. The product-variety externality is a positive externality to consumers from the introduction of a new product. Thebusiness-stealing externality is a negative externality because other firms lose customers andprofits from the addition of a new product. Since the entrant doesn't take these externalities into account in deciding whether or not to enter the market, it isn't clear whether the actual number of products will be optimal, above optimal, or below optimal.6. By sending Christmas cards to their customers, monopolistically competitive firms are advertisingthemselves. Since they are in a position in which price exceeds marginal cost, they would likemore customers to come in, as shown in Figure 5. Since the price, P M, exceeds marginal cost, MC M, any additional customer who pays the existing price increases the firm's profits.Figure 57. If you were thinking of entering the ice-cream business, you would want to make ice cream that isslightly different from the existing brands. By differentiating your product from others, you gain some market power.8. Many answers are possible. The answers should explain that commercials are socially useful tothe extent that they provide consumers information about the product or demonstrate from theexistence of the commercial that the product is worth advertising, and thus is not of low quality.Commercials are socially wasteful to the extent that they manipulate people's tastes and try tomake products seem more different than they really are.如有你有帮助,请购买下载,谢谢!9. a. A family-owned restaurant would be more likely to advertise than a family-owned farmbecause the output of the farm is sold in a perfectly competitive market, in which there isno reason to advertise, while the output of the restaurant is sold in a monopolisticallycompetitive market.b. A manufacturer of cars is more likely to advertise than a manufacturer of forklifts becausethere is little difference between different brands of industrial products like forklifts, whilethere are greater perceived differences between consumer products like cars. Thepossible return to advertising is greater in the case of cars than in the case of forklifts.c. A company that invented a reliable watch is likely to advertise more than a company thatinvented a less reliable watch that costs the same amount to make because the companywith the reliable watch will get many repeat sales over time to cover the cost of theadvertising, while the company with the less reliable watch will not.10. a. Perdue created a brand name for chicken by advertising. By doing so, he was able todifferentiate his product from other chicken, gaining market power.b. Society gained to the extent that Perdue has a great incentive to maintain the quality of hischicken. Society lost to the extent that the market for chicken became less competitive,with the associated deadweight loss.11. a. Figure 6 shows Tylenol's demand, marginal revenue, and marginal cost curves. Tylenol'sprice is P T, its marginal cost is MC T, and its markup over marginal cost is P T - MC T.Figure 6b. Figure 7 shows the demand, marginal revenue, and marginal cost curves for a maker ofacetaminophen. The diagrams differ in that the acetaminophen maker faces a horizontaldemand curve, while the maker of Tylenol faces a downward-sloping demand curve. Theacetaminophen maker has no markup of price over marginal cost, while the maker ofTylenol has a positive markup, because it has some market power.Figure 7c. The maker of Tylenol has a bigger incentive for careful quality control, because if qualitywere poor, the value of its brand name would deteriorate, sales would decline, and itsadvertising would be worth less.。