范里安《微觀經(jīng)濟(jì)學(xué)：現(xiàn)代觀點(diǎn)》練習(xí)冊答案

1、Chapter1NAMETheMarketIntroduction.Theproblemsinthischapterexaminesomevariationsontheapartmentmarketdescribedinthetext.Inmostoftheproblemswewkwiththetruedemcurveconstructedfromthereservationpricesoftheconsumersratherthant

2、he“smoothed”demcurvethatweusedinthetext.Rememberthatthereservationpriceofaconsumeristhatpricewhereheisjustindifferentbetweenrentingnotrentingtheapartment.Atanypricebelowthereservationpricetheconsumerwilldemoneapartmentat

3、anypriceabovethereservationpricetheconsumerwilldemzeroapartmentsexactlyatthereservationpricetheconsumerwillbeindifferentbetweenhavingzerooneapartment.Youshouldalsoobservethatwhendemcurveshavethe“staircase”shapeusedhereth

4、erewilltypicallybearangeofpriceswheresupplyequalsdem.Thuswewillaskfthethehighestlowestpriceintherange.1.1(3)Supposethatwehave8peoplewhowanttorentanapartment.Theirreservationpricesaregivenbelow.(Tokeepthenumberssmallthink

5、ofthesenumbersasbeingdailyrentpayments.)Person=ABCDEFGHPrice=402530351018155(a)Plotthemarketdemcurveinthefollowinggraph.(Hint:Whenthemarketpriceisequaltosomeconsumeri’sreservationpricetherewillbetwodifferentquantitiesofa

6、partmentsdemedsinceconsumeriwillbeindifferentbetweenhavingnothavinganapartment.)2THEMARKET(Ch.1)012345678102030406050PriceApartments(b)Supposethesupplyofapartmentsisfixedat5units.Inthiscasethereisawholerangeofpricesthatw

7、illbeequilibriumprices.Whatisthehighestpricethatwouldmakethedemfapartmentsequalto5units$18.(c)Whatisthelowestpricethatwouldmakethemarketdemequalto5units$15.(d)Withasupplyof4apartmentswhichofthepeopleA–Hendupgettingapartm

8、entsABCD.(e)Whatifthesupplyofapartmentsincreasesto6units.Whatistherangeofequilibriumprices$10to$15.1.2(3)Supposethatthereareiginally5unitsinthemarketthat1ofthemisturnedintoacondominium.(a)SupposethatpersonAdecidestobuyth

9、econdominium.WhatwillbethehighestpriceatwhichthedemfapartmentswillequalthesupplyofapartmentsWhatwillbethelowestpriceEnteryouranswersincolumnAinthetable.ThencalculatetheequilibriumpricesofapartmentsifBC...decidetobuytheco

10、ndominium.NAME3PersonABCDEFGHHighprice1818181825252525Lowprice1515151518151818(b)Supposethatthereweretwopeopleateachreservationprice10apartments.Whatisthehighestpriceatwhichdemequalssupply18.Supposethatoneoftheapartments

11、wasturnedintoacondominium.IsthatpricestillanequilibriumpriceYes.1.3(2)Supposenowthatamonopolistownsalltheapartmentsthatheistryingtodeterminewhichpricequantitymaximizehisrevenues.(a)Fillintheboxwiththemaximumpricerevenuet

12、hatthemonopolistcanmakeifherents12...8apartments.(Assumethathemustgeonepricefallapartments.)Number12345678Price403530251815105Revenue40709010090907040(b)WhichofthepeopleA–FwouldgetapartmentsABCD.(c)Ifthemonopolistwerereq

13、uiredbylawtorentexactly5apartmentswhatpricewouldhegetomaximizehisrevenue$18.(d)WhowouldgetapartmentsABCDF.(e)Ifthislldcouldgeeachindividualadifferentpriceheknewthereservationpricesofalltheindividualswhatisthemaximumreven

14、uehecouldmakeifherentedall5apartments$148.(f)If5apartmentswererentedwhichindividualswouldgettheapartmentsABCDF.1.4(2)Supposethatthereare5apartmentstoberentedthatthecityrentcontrolboardsetsamaximumrentof$9.Furthersupposet

15、hatpeopleABCDEmanagetogetanapartmentwhileFGHarefrozenout.4THEMARKET(Ch.1)(a)Ifsublettingislegal—atleastpracticed—whowillsublettowhominequilibrium(Assumethatpeoplewhosubletcanevadethecityrentcontrolrestrictions.)Ewhoiswil

16、lingtopayonly$10fanapartmentwouldsublettoFwhoiswillingtopay$18.(b)Whatwillbethemaximumamountthatcanbegedfthesubletpayment$18.(c)Ifyouhaverentcontrolwithunlimitedsublettingallowedwhichoftheconsumersdescribedabovewillendup

17、inthe5apartmentsABCDF.(d)HowdoesthiscomparetothemarketoutcomeIt’sthesame.1.5(2)Inthetextwearguedthatataxonlldswouldnotgetpassedalongtotherenters.Whatwouldhappenifinsteadthetaxwasimposedonrenters(a)Toanswerthisquestioncon

18、siderthegroupofpeopleinProblem1.1.Whatisthemaximumthattheywouldbewillingtopaytothelldiftheyeachhadtopaya$5taxonapartmentstothecityFillintheboxbelowwiththesereservationprices.PersonABCDEFGHReservationPrice35202530513100(b

19、)Usingthisinfmationdeterminethemaximumequilibriumpriceifthereare5apartmentstoberented.$13.(c)Ofcoursethetotalpricearenterpaysconsistsofhisherrentplusthetax.Thisamountis$18.(d)Howdoesthiscomparetowhathappensifthetaxislevi

20、edonthelldsIt’sthesame.NAME9(b)Whatistheratioofthepriceofxtothepriceofy12.(c)Ifyouspentallofyourincomeonxhowmuchxcouldyoubuy16.(d)Ifyouspentallofyourincomeonyhowmuchycouldyoubuy8.(e)Writeabudgetequationthatgivesyouthisbu

21、dgetlinewherethepriceofxis1.x2y=16.(f)Writeanotherbudgetequationthatgivesyouthesamebudgetlinebutwherethepriceofxis3.3x6y=48.2.4(1)Murphywasconsuming100unitsofX50unitsofY.ThepriceofXrosefrom2to3.ThepriceofYremainedat4.(a)

22、HowmuchwouldMurphy’sincomehavetorisesothathecanstillexactlyaffd100unitsofX50unitsofY$100.2.5(1)IfAmyspentherentireallowanceshecouldaffd8cybars8comicbooksaweek.Shecouldalsojustaffd10cybars4comicbooksaweek.Thepriceofacybar

23、is50cents.Drawherbudgetlineintheboxbelow.WhatisAmy’sweeklyallowance$6.0816243281624CybarsComicbooks321210BUDGETCONSTRAINT(Ch.2)2.6(0)InasmallcountryneartheBalticSeathereareonlythreecommodities:potatoesmeatballsjam.Prices

24、havebeenremarkablystablefthelast50yearsso.Potatoescost2crownspersackmeatballscost4crownspercrockjamcosts6crownsperjar.(a)WritedownabudgetequationfacitizennamedGunnarwhohasanincomeof360crownsperyear.LetPstfthenumberofsack

25、sofpotatoesMfthenumberofcrocksofmeatballsJfthenumberofjarsofjamconsumedbyGunnarinayear.2P4M6J=360.(b)Thecitizensofthiscountryareingeneralverycleverpeoplebuttheyarenotgoodatmultiplyingby2.Thismadeshoppingfpotatoesexcrucia

26、tinglydifficultfmanycitizens.Therefeitwasdecidedtointroduceanewunitofcurrencysuchthatpotatoeswouldbethenumeraire.Asackofpotatoescostsoneunitofthenewcurrencywhilethesamerelativepricesapplyasinthepast.Intermsofthenewcurren

27、cywhatisthepriceofmeatballs2crowns.(c)Intermsofthenewcurrencywhatisthepriceofjam3crowns.(d)WhatwouldGunnar’sincomeinthenewcurrencyhavetobefhimtobeexactlyabletoaffdthesamecommoditybundlesthathecouldaffdbefethechange180cro

28、wns.(e)WritedownGunnar’snewbudgetequation.P2M3J=180.IsGunnar’sbudgetsetanydifferentthanitwasbefethechangeNo.2.7(0)EdmundStenchconsumestwocommoditiesnamelygarbagepunkrockvideocassettes.Hedoesn’tactuallyeatthefmerbutkeepsi

29、tinhisbackyardwhereitiseatenbybillygoatsasstedvermin.Thereasonthatheacceptsthegarbageisthatpeoplepayhim$2persackftakingit.Edmundcanacceptasmuchgarbageashewishesatthatprice.Hehasnoothersourceofincome.Videocassettescosthim

30、$6each.(a)IfEdmundacceptszerosacksofgarbagehowmanyvideocassettescanhebuy0.NAME11(b)Ifheaccepts15sacksofgarbagehowmanyvideocassettescanhebuy5.(c)Writedownanequationfhisbudgetline.6C?2G=0.(d)DrawEdmund’sbudgetlineshadeinhi

31、sbudgetset.0510152051015VideocassettesGarbage20BudgetLineBudgetSet??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

32、??????????????????????????????????????????????????????????????2.8(0)IfyouthinkEdmundisoddconsiderhisbrotherEmmett.Emmettconsumesspeechesbypoliticiansuniversityadministrats.Heispaid$1perhourflisteningtopoliticians$2perhou

33、rflisteningtouniversityadministrats.(Emmettisingreatdemtohelpfillemptychairsatpubliclecturesbecauseofhisdistinguishedappearancehisabilitytorefrainfrommakingrudenoises.)Emmettconsumesonegoodfwhichhemustpay.Wehaveagreednot

34、todisclosewhatthatgoodisbutwecantellyouthatitcosts$15perunitweshallcallitGoodX.InadditiontowhatheispaidfconsumingspeechesEmmettreceivesapensionof$50perweek.0255075100255075PoliticianspeechesAdministratspeeches10012BUDGET

35、CONSTRAINT(Ch.2)(a)WritedownabudgetequationstatingthosecombinationsofthethreecommoditiesGoodXhoursofspeechesbypoliticians(P)hoursofspeechesbyuniversityadministrats(A)thatEmmettcouldaffdtoconsumeperweek.15X?1P?2A=50.(b)On

36、thegraphabovedrawatwodimensionaldiagramshowingthelocusofconsumptionsofthetwokindsofspeechesthatwouldbepossiblefEmmettifheconsumed10unitsofGoodXperweek.2.9(0)JonathanLivingstoneYuppieisaprosperouslawyer.Hehasinhisownwds“o

37、utgrownthoseconfiningtwocommoditylimits.”JonathanconsumesthreegoodsunblendedScotchwhiskeydesignertennisshoesmealsinFrenchgourmetrestaurants.ThepriceofJonathan’sbrofwhiskeyis$20perbottlethepriceofdesignertennisshoesis$80p

38、erpairthepriceofgourmetrestaurantmealsis$50permeal.AfterhehaspaidhistaxesalimonyJonathanhas$400aweektospend.(a)WritedownabudgetequationfJonathanwhereWstsfthenumberofbottlesofwhiskeyTstsfthenumberofpairsoftennisshoesMfthe

39、numberofgourmetrestaurantmealsthatheconsumes.20W80T50M=400.(b)Drawathreedimensionaldiagramtoshowhisbudgetset.Labeltheintersectionsofthebudgetsetwitheachaxis.MTW8520(c)Supposethathedeterminesthathewillbuyonepairofdesigner

40、tennisshoesperweek.Whatequationmustbesatisfiedbythecombinationsofrestaurantmealswhiskeythathecouldaffd20W50M=320.2.10(0)Marthaispreparingfexamsineconomicssociology.Shehastimetoread40pagesofeconomics30pagesofsociology.Int