范里安中级微观经济学第八版习题

希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXX1BUDGETCONSTRAINTApoorpersonwhohasanincomeof$1000receives$100worthoffoodstamps.Drawthebudgetconstraintifthefoodstamprecipientcansellthesecouponsontheblackmarketforlessthantheirfacevalue.Since1979,recipientshavebeengivenfoodstamps.Before1979,however,peopleboughtfoodstampsatasubsidizedrate.Forexample,toget$1worthoffoodstamps,ahouseholdpaidabout15￠(theexactamountvariedbyhouseholdcharacteristicsandotherfactors).Whatisthebudgetconstraintfacinganindividualifthatindividualmaybuyupto$100permonthinfoodstampsat15￠pereach$1coupon.Duringhisfirstyearatschool,Ximingbuyseightnewcollegetextbooksatacostof$50each.Usedbookscost$30each.Whenthebookstoreannouncesa20%increaseinnewtextsanda10%increaseinusedtextsnextyear,Ximing’sfatheroffershim$80extra.IsXimingbetteroff,thesame,orworseoffafterthepricechange?Why?2PREFERENCES1.Juliaconsumescansofanchovies,A,andboxesofbiscuits,B.Eachofherindifferencecurvesreflectsstrictlydiminishingmarginalratesofsubstitution.希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXWhereA=2andB=2,hermarginalrateofsubstitutionbetweencansofanchoviesandboxesofbiscuitsequals-1.Willshepreferabundlewiththreecansofanchoviesandaboxofbiscuitstoabundlewithtwoofeach?Why?2.Whatassumptionorassumptionsruleoutthefollowingphenomenon:Geoffreyhasabundleconsistingof6applesand8raspberries.Hestatesthatifheisgiven1moreapple,hewillaskfor3moreraspberriestokeephimindifferentbetweenhisoldbundleandthenewbundlethathewillhaveafterhereceivesthe1additionalapple.3.Drawindifferencecurvesforthefollowingpeople:a)Johnsays:“Igetnosatisfactionfrom1ounceofvermouthor3ouncesofgin,but1ounceofvermouthand3ouncesofgin(amartini)reallyturnmeon.”b)Stevesays:“Iwillnotcutmyhairtopleasemybossunlessshepaysme.Mypriceis$300plus$1forevery1/8inchofhairthatiscut.Inotherwords,forevery$1above$300thatthebosspaysme,Iwillcut1/8inchoffmyhair.”c)InPartbofthisproblem,whatisthemarginalrateofsubstitutionbetweendollarsandhairintheregionbelowandabove$300?希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXd)Annsays:“Ienjoybeerandpretzels,butafter12beers,anyadditionalbeermakesmesick.”4.Jeffreyisfiveyearsold.Helikescandyandhatesspinach.Heisallowed2candybarsaday,buthismotheroffershim1additionalcandybarforevery2ounceofspinachheeats.a)Ontheseterms,Jeffreyeats3ouncesofspinachand3.5candybarseachday.Usingindifferencecurves,illustratehisoptionalchoice.b)SupposethatJeffrey’smotherdoesnotgivehim2“free”candybarseachdaybutstillgiveshim1candybarforevery2ounceofspinachheeats.WouldhisspinachconsumptionbegreaterorsmallerthaninParta?Explainyouranswer.4CHOICE1.TarahasautilityfunctionU(B,Z)=ABZβ,WhereA,,andβareconstraints,Bisburritos,andZispizzas.Ifthepriceofburritos,pBis$2andthepriceofpizzas,pZis$1,whatisTara’soptimalbundle?2.Assumethattherearetwogoodsintheworld:applesandraspberries.SaythatGeoffreyhasautilityfunctionforthesegoodsofthefollowingtype,whererdenotesthequantityofraspberriesandathequantityifapples:U=希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXr·a.Drawanindifferencecurvethatisdefinedbythisutilityfunctionandhasautilitylevelof2500.WhatisthemarginalrateofsubstitutionbetweentheraspberriesandtheappleswhenGeoffreyconsumes50raspberriesand50apples?WhatisthemarginalrateofsubstitutionbetweenthesetwogoodswhenGeoffreyconsumes100raspberriesand50apples?Ifthepriceofraspberriesis$1perunitandthepriceofapplesis$1perunitandGeoffreyhas$100tospend,whatbundleofraspberriesandappleswillhebuy?Isthemarginalrateofsubstitutionequaltotheratioofthepricesofthesegoodsintheoptimalbundle?Ifnot,whynot?Iftheunitpricesoftheraspberriesandtheapplesare$4and$3,respectively,whatbundleofraspberriesandappleswillGeoffreybuywithhisincomeof$100?3.Steve’sutilityfunctionisU=BC,whereB=veggieburgersperweekandC=packsofcigarettesperweek.Whatishismarginalrateofsubstitutionifveggieburgersareontheverticalaxisandcigarettesareonthehorizontalaxis?Steve’sincomeis$120,thepriceofaveggieburgeris$2,andthatofapackofcigarettesis$1.HowmanyburgersandhowmanypacksofcigarettesdoesSteveconsumetomaximizehisutility?希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXWhenanewtaxraisesthepriceofaburgerto$3,whatishisnewoptimalbundle?Illustrateyouranswersinagraph.5DEMANDRoger’sutilityfunctionisU=B1/4Z3/4,hisincomeisY,thepriceofBispB,andthepriceofZispZ.Derivehisdemandcurves.DeriveRoger’sEngelcurveforBfortheutilitygiveninproblem2.7CONSUMER’SSUPPLUSIftheinversedemandfunctionisp=a–bQ,whatistheconsumersurplusifpriceisa/2?IfthesupplyfunctionisQ=Apη,whatistheproducersurplusifpriceisp*?9EQUILIBRIUMIn1998,aviruskilledmorethanhalftheoystersusedtoproducepearlsintheworld’sbusiestunderseafactory.Useadiagramtoindicatewhythepriceofpearlsrose18%.希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXHowdidtheequilibriumquantitychange?Increasingly,insteadofadvertisinginnewspapers,individualsandfirmsuseWebsitesthatofferfreeclassifiedads,suchasRealtor.com,Jobs.com,Monster.com,andportalslikeYahooandAmericaOnline.Usingasupply-and-demandmodel,explainwhatwillhappentotheequilibriumlevelsofnewspaperadvertisingastheuseoftheInternetgrows.WillthegrowthoftheInternetaffectthesupplycurve,thedemandcurveorboth?Why?TheU.S.supplyoffrozenorangejuicecomesfromFloridaandBrazil.WhatistheeffectofafreezethatdamagesorangesinFloridaonthepriceoffrozenorangejuiceintheU.S.andonthequantitiesoforangejuicesoldbyFloridianandBrazilianfirms?ThesupplyofcornbytheU.S.isQa=a+bp,andthesupplybytherestoftheworldisQr=c+ep.Whatistheworldsupply?Arentcontrollawlimitsthepriceofanapartment.Whatisthelikelyeffectofsuchalawintheshortrun?Whatisthelikelyeffectofthelawinthelongrun?Besuretodiscussthequantityandqualityofapartmentsavailableforrent.希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXThegovernmentwantstodrivethepriceofsoybeansabovetheequilibriumprice,p1top2.ItoffersgrowersapaymentofxtoreducetheiroutputfromQ1(theequilibriumlevel)toQ2,whichisthequantitydemandedbyconsumersatp2.Howlargemustxbeforgrowerstoreduceoutputtothislevel?Whataretheeffectsofthisprogramonconsumers,farmers,andtotalwelfare?Comparethisapproachto(a)offeringapricesupportofp2,(b)offeringapricesupportandaquotasetatQ1,and(c)offeringapricesupportandaquotasetatQ2.10TECHNOLOGYMichelle’sbusinessproducesceramiccupsusinglabor,clay,andakiln.Shecanmanufacture25cupsadaywithoneworkerand35withtwoworkers.Doesherproductionprocessillustratediminishingreturnstoscaleordiminishingmarginalreturnstoscale?Whatisthelikelyexplanationforwhyoutputdoesn’tincreaseproportionatelywiththenumberofworkers?Supposethattheproductionfunctionisq=L3/4K1/4.Whatistheaverageproductoflabor，holdingcapitalfixedat希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXX?Whatisthemarginalproductoflabor?Doesthisproductionfunctionhaveincreasing,constant,ordecreasingreturnstoscale?3.AgoodrecipeforaFrenchdishcalledcevicherequires16ouncesoffilletofredsnapper,3ouncesoflimejuice,1ounceofcoriander,and8ouncesofBermudaonion.Thiscombinationofinputsisexpressedinthefollowingproductionfunction:Inthisproductionfunction,z1isfilletofredsnapper,z2islimejuice,z3iscoriander,andz4isBermudaonion.Theunitofmeasureforeachinputistheounce,andtheunitofmeasureforceviche(theoutput)isthequantityproducedbytherecipe.Ifarestauranthasonhand32ouncesofsnapper,9ouncesoflimejuice,5ouncesofcoriander,and48ouncesofonion,howmany“units”ofcevichecanitproduce?4.Constructatotalproductcurveforafunctionthatexhibitsdiminishingmarginalproductthroughout.Thenconstructanothertotalproductcurveforafunctionthatexhibitsinitiallyconstantandsubsequentlydiminishingmarginalproduct.希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXBelowthegraphsofthesetwototalproductscurve,derivethecorrespondingaverageandmarginalfunctions.Checktoseethatthecurvesyouhavedrawnareconsistentwithwhatyouknowabouttherelationshipbetweentheaverageandmarginalproductcurves.11PROFITMAXIMIZATIONYouhave60minutestotakeanexamwithtwoquestions.Youwanttomaximizeyourscore.Towardtheendoftheexam,themoretimeyouspendoneitherquestion,thefewerextrapointsperminutesyougetforthatquestion.Howshouldyouallocatetimebetweenthetwoquestions?(Hint:Thinkaboutproducinganoutputofascoreontheexamusinginputsoftimespentoneachoftheproblem)2.Acompetitivefirm’sproductionfunctionisy=L+2LK+K.Whatisitsmarginalrevenueproductoflabor?Afirm’sproductionfunctionisy=ALαKβ.Whatisthefirm’smarginalrevenueproductoflabor?AcompetitivefirmhastheproductionoffunctionQ=20L–L2,whereQisthenumberofunitsofoutputproducedandListhenumberofunitsoflabor(theonlyinput)used.Theoutputpriceis$2,thewagerateis$1,andthefirmfacesafixedcostof$100.希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXWhatistheprofit-maximizingquantityoflabordemandedbythefirm?Whatisthefirm’sprofitintheshortrun?If,inthelongrun,theoutputpricechangessothatprofitsarezero,whatisthequantityoflabordemandedinthelongrun?Acompetitivefirmhastheproductionfunction.Q=LαKβ,whereQisthenumberofunitsofoutputproduced,Listhenumberofunitsoflaborused,andKisthenumberofunitsofcapitalused.Theoutputpricep,thewageratew,andthecostofcapitalraregiven.Assumethatα>0,β>0,and0<(α+β)<1.Whatisthefirm’sprofit-maximizingquantityoflaborifthequantityofcapitalisfixedatK?Whatisthefirm’sprofit-maximizinglevelofcapitalifbothcapitalandlaborarevariable?(Hint:Usetheprofit-maximizingcapital-laborratioK/Ltosubstitutefortheleveloflabor.)12COSTMINIMIZATIONAssumethatafirmproduces90unitsofoutputusing9unitsofinput希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXXand9unitsofinputY.Thefirm’stechnologicalpossibilitiescanberepresentedbytheproductionfunctionQ=10X1/2Y1/2.IfthepriceofXis$8andthepriceofYis$16,istheinputcombinationof9unitsofXand9unitsofYthemostefficientwaytoproduce90unitsofoutput?Whatmusttheratioofinputpricesbeforthisinputcombinationtobeefficient?AssumethatthepriceofXis$1andthepriceofYis$2.Derivetheleast-costwaytoproduce400unitsofoutput.Amedicalcenterproduceshealthservicesusingtwoinputs:hospitalbedsandlabor.ThereisagovernmentregulationrestrictingthenumberofbedstoB.AssumethatthemedicalcenteriscurrentlyusingBbedsandLunitsoflabortoproduceQ1unitsofhealthservices.AlsoassumethatthemedicalcenterplanstoexpanditsoutputtoQ2unitsofhealthservices.Prepareadiagramtoshowhowthisgovernmentregulationrestrictingthenumberofhospitalbedswouldaffecttheefficiencyofdeliveringhealthservices.Atruckingfirm’soutputismeasuredbythenumbermoftruck-milesmovedperday.Thefirm’soperatingcostsareasfollows:希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXwagesoftrucks,$wperhourcostofgasoline,$ppergallonfuelconsumption,g=A+Bs,wheregisgallonsofgasolinepertruck-mile,sisthespeedatwhichatruckisdriven,andAandBareconstantsDerivethetotalvariablecostfunctionofthefirmifithasanunlimitednumberoftrucks.Whatdoesthecostfunctionlooklikeifthefirmhasonlyonetruckandthattruckcanbedrivenforamaximumoftenhoursperday?Acollegestudentisconsideringwhethertooperatealawn-mowingbusinessforthesummerorworkinabusinessownedbyherfamily.Hertimeisworth$w1perhourandshecanworkasmanyhoursasshechoosesinthefamilybusinessatthisrate.Ifshestartsherownbusiness,shewillhavetobuygasolineforherlawnmoweratapriceof$w2pergallon.Shecanrentasmallmowerfor$w3perhour.Themowercutsa12-inchswathoflawnanduses1/3gallonofgasolineperhour.Withthismower,shecancut10,000squarefeetoflawninanhour.(Use10,000squarefeetastheunitsofmeasurementforoutput.)Ourcollegestudentcanrentalargemowerfor$w4希望对大家有所帮助，多谢您的浏览！希望对大家有所帮助，多谢您的浏览！授课：XXX授课：XXX希望对大家有所帮助，多谢您的浏览！授课：XXXperhour.Thismoweruses1gallonofgasolineperhourandcuts3unitsoflawnperhour.Verifythattheproductionfunctionforthetwomowersareasfollows:y=min{z1,3z2,z3}y=3min{z1,z2,z4}Assumethatz1ishoursoflabor,z2isgallonsofgasoline,andz3andz4arethehoursofthesmallmowerandthelargemower,respectively.Derivethecostfunctions.Showthatusingthesmallmowerisacheaperwaytocutgrassif2w1