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第11章不确定性一、判断题1．对于两种赌博，不论他们的期望报酬怎样，一个风险厌恶者总会选择方差小的那种。
（）【答案】F【解析】风险厌恶者更加偏好的是财富的期望值，而不是赌博本身。
因此，期望报酬对风险厌恶者的选择是有影响的。
当期望报酬相等，风险厌恶者总会选择方差小的那种。
2．某消费者不属于风险厌恶者。
他有机会通过支付10元去买一张彩票，这张彩票将使他以0.05的概率赢得100元，以0.1的概率赢得50元，有0.85的概率他将一无所获。
如果他明白胜算的可能并且计算没有错误，那么他将买下彩票。
（）【答案】T【解析】买彩票的期望效用为：()()()⨯+⨯+⨯。
买彩票和不买彩0.051000.1500.850u u u票的期望收益是相等的，对于一个非风险厌恶者来说，有：()()()()()u u u u u⨯+⨯+⨯≥⨯+⨯+⨯=0.051000.1500.8500.051000.1500.85010因此他将买下彩票。
3．如果保险费用上升，人们将减少风险厌恶程度。
（）【答案】F【解析】并不是由保险费用来决定风险厌恶程度，而是由风险厌恶程度来决定保险费用。
对于风险厌恶者来说，完全保险是他的最优选择；而风险偏好者对保险的需求并没有前者大。
4．某消费者有冯·诺依曼-摩根斯顿效用函数()()(),,,a b a b a a b b u c c p p p v c p v c =+。
a p 和b p 分别是事件a 和事件b 发生的概率，a c 和b c 分别是以事件a 和事件b 而定的消费。
如果()v c 是一个增函数，这个消费者必定是风险爱好者。
（）【答案】F【解析】()v c 是一个增函数，则()0v'c >。
()()()0a b a b a a b b u'c c p p p v'c p v'c =+>，，，，()()(),,,a b a b a a b b u''c c p p p v''c p v''c =+。
《高级宏观经济学》教学大纲（硕士研究生） - RonaldoCarpio《高级微观经济分析》教学大纲(博士研究生)课程代码:(按本专业或方向培养方案填写)课程名称:(按本专业或方向培养方案填写)英文名称:Advanced Microeconomic Analysis课程性质:(按本专业或方向培养方案填写)学分学时:3学分，48学时授课对象:金融学院一年级博士研究生课程简介:Based on Microeconomics I (for master students), the course will discuss thecontemporary development in microeconomics. This course is also designed to develop andextend the students’ analytical and reading skills in modern microeconomics. A student who haspassed the course should be able to read typical articles in the mainline journals, understand theanalytical derivations and arguments commonly used in the literature, and know how to solve themore widely used models.先修课程:Microeconomics for master students选用教材:1、 Mas-Colell, A., M. D. Whinston, and J. Green, Microeconomic Theory. (MWG)2、 Jehle, Geoffrey A. and Philip J. Reny, Advanced Microeconomic Theory. (JR)考核方式与成绩评定:Final Exam %; Midterm Exam %; Class Participation % 主讲教师:Carpio Ronaldo、颜建晔所属院系:金融学院联系方式:******************、*******************答疑时间及地点:求索楼123,Wednesday 13:30-14:30 (Carpio)，Tuesday 15:00-17:00(颜)第一章:Consumer Theory教学目标和要求:Understand the consumer’s problem and consumer demand.教学时数:6学时教学方式:讲授准备知识:calculus教学内容:Preferences, Utility, and Consumer’s Problem第一节:Consumer’s Problem第二节:Indirect Utility, Demand作业与思考题:JR Ch 1.6参考资料:JR Ch 1, Appendix A1, A21第二章: Topics in Consumer Theory教学目标和要求:Understand duality, integrability, and uncertainty.教学时数:6 学时教学方式:讲授准备知识:statistics教学内容:Duality, Integrability, and Uncertainty 第一节:Duality of Consumer’s Problem第二节:Revealed Preferences & Uncertainty 作业与思考题:JR Ch 2.5 参考资料:JR Ch 2第三章: Theory of the Firm教学目标和要求:Understand the firm’s profit maximization problem.教学时数:6 学时教学方式:讲授准备知识:Chapter 1,2教学内容:Production, Cost, Profit Maximization 第一节:Production Functions & Cost第二节:Duality in Production, Competitive Firms 作业与思考题:JR Ch 3.6参考资料:JR Ch 3第四章: Partial Equilibrium教学目标和要求:Understand partial equilibrium markets. 教学时数:3学时教学方式:讲授准备知识:Chapter 3教学内容:Perfect & Imperfect Competition, Welfare 第一节:Competition 第二节:Equilibrium & Welfare作业与思考题:JR Ch 4.4参考资料:JR Ch 4第五章: Walras’/competitive equilibrium2教学目标和要求:competitive market economies from a Walrasian (general) equilibrium perspective.Let students understand “why the competitive market/equilibrium may work or fail?”教学时数:6学时方式:讲授教学准备知识:consumer theory, production theory教学内容:第一节:Walrasian economy and mathematical language of microeconomics 第二节:competitive equilibria of pure exchange and with production 作业与思考题:JR5.5, exercises of MWG Ch15, 18, 教师自编习题集参考资料:MWG Mathematical Appendix, Ch15, 18; JR5.4第六章: Social choice function/theory and social welfare: normative aspect of microeconomics教学目标和要求:When we judge some situation, such as a market equilibrium, as “good”or “bad”, or “better” or “worse” than another, we necessarily make at least implicit appeal to some underlying ethical standard. Welfare economics helps to inform the debate on social issues by forcingus to confront the ethical premises underlying our arguments as well as helping us to seetheir logical implications.Let students have a systematic framework for thinking about normative and social welfare topics.教学时数:3学时教学方式:讲授准备知识:Walrasian equilibrium教学内容:第一节:social choice, comparability, and some possibilities第二节:Rawlsian, Utiliterian, and flexible forms作业与思考题:JR6.5, exercises of MWG Ch21, 22, 教师自编习题集参考资料:MWG Ch21.A, Ch21.E, Ch22.C; JR Ch6第七章: Strategic Behavior and Asymmetric Information教学目标和要求:A central feature of contemporary microeconomicsafter Walrasian economy is the multi-agent interaction which represents the potential for the presence of strategicinterdependence. Let students grasp classic models of imperfect competition under symmetric and asymmetric information.3教学时数:3学时教学方式:讲授准备知识:perfect competition教学内容:第一节:monopoly and oligopoly under symmetric information第二节:oligopoly under asymmetric information作业与思考题:教师自编习题集参考资料:MWG Ch12; JR Ch4第八章: Theory of Incentives教学目标和要求:The strategic opportunities that arise in the presence of asymmetricinformation typically lead to inefficient market outcomes, a form of market failure. Underasymmetric information, the first welfare theorem no longer holds generally. Thus, the main themeto be explored is to stimulate different agents’ optimal/efficient behaviors in differentinformational settings to achieve the “second-best” market outcomes.教学时数:9学时教学方式:讲授准备知识:Strategic Behavior and Asymmetric Information教学内容:第一节:Adverse selection第二节:Moral hazard*第三节:Task separation/integration,第三节:Career concern作业与思考题:exercises of MWG Ch13, 14, 教师自编习题集参考资料:JR Ch8; MWG Ch13, 14第九章前沿研究讲座:待定邀请校外老师(待定)给学生们讲演最新研究，引导学生讨论;在学生掌握现代微观经济学基本模型之后能够接触到前沿研究。
第一部分 消费者选择理论1.有两种商品，x1和x2，价格分别为p1和p2，收入为m 。
当11x x ≥时，政府加数量税t,画出预算集并写出预算线2. 消费者消费两种商品（x1，x2），如果花同样多的钱可以买（4，6）或（12，2），写出预算线的表达式。
3．重新描述中国粮价改革（1）假设没有任何市场干预，中国的粮价为每斤0。
4元，每人收入为100元。
把粮食消费量计为x ，在其它商品上的开支为y ，写出预算线，并画图。
（2）假设每人得到30斤粮票，可以凭票以0。
2元的价格买粮食，再写预算约束，画图。
（3）假设取消粮票，补贴每人6元钱，写预算约束并画图。
4． 证两条无差异曲线不能相交5． 一元纸币（x1）和五元纸币（x2）的边际替代率是多少？ 6． 若商品1为中性商品，则它对商品2的边际替代率？7. 写出下列情形的效用函数，画出无差异曲线，并在给定价格（p 1，p 2）和收入（m ）的情形下求最优解。
（1）x 1=一元纸币，x 2=五元纸币。
（2）x 1=一杯咖啡，x 2=一勺糖, 消费者喜欢在每杯咖啡加两勺糖。
8. 解最优选择 （1）21212(,)u x x x x =⋅（2）2u x =+9. 对下列效用函数推导对商品1的需求函数，反需求函数，恩格尔曲线；在图上大致画出价格提供曲线，收入提供曲线；说明商品一是否正常品、劣质品、一般商品、吉芬商品，商品二与商品一是替代还是互补关系。
（1）212x x u += （2）()212,m in x x u =（3）ba x x u 21⋅=（4） 12ln u x x =+,10. 当偏好为完全替代时，计算当价格变化时的收入效用和替代效用（注意分情况讨论）。
11. 给定效用函数 (,)x y xy =，p x =3，p y =4，m=60，求当p y 降为3时价格变化引起的替代效应和收入效应。
12. 用显示偏好的弱公理说明为什么Slutsky 替代效应为负。
⾼级微观经济学-教学⼤纲《⾼级微观经济学》教学⼤纲“Advanced Microeconomics” Course Outline课程编号：151193A课程类型：专业选修课总学时：48 讲课学时：48学分：3适⽤对象：经济学、统计学、⾦融学先修课程：经济学原理、中级微观经济学、线性代数、微积分Course Code: 151193ACourse Type: Specialized elective coursePeriods: 48 Lecture: 48Credits: 3Applicable Subjects: Economics, Statistics, FinancePreparatory Courses: Principles of Microeconomics, Introductory Microeconomics, Linear Algebra, Mathematical Analysis⼀、课程的教学⽬标本课程作为本科学⽣的专业选修课旨在通过介绍微观经济学中的主要模型、原理和证明使学⽣具备进⾏微观经济学研究的基本⽅法与技能,为后续专业课程的学习奠定基础。
This specialized elective course is offered to undergraduate students majoring in Economics, Statistics, and Finance. This course builds the foundation for the study of subsequent major courses and trains the students in the micro – economic research skills.⼆、教学基本要求本课程的教学内容⼤致可以分为四⼤部分。
第⼀部分为个⼈决策理论。
第⼆部分为博弈论。
第三部分为市场均衡和市场失效理论。
第21章均衡分析1．有两个当事人，有着相同的、严格凸的偏好和均等的禀赋。
描述经济的核,并把它从埃奇沃思方框图中描绘出来。
There are two agents with identical,strictly convex preferences and equal endowments.Describe the core of this economy and illustrate it in an Edgeworth box.答：经济的核是指这样一种资源配置的状态，在该经济系统中任意一些消费者都不能通过联合的方式来提高自己的境况。
若x属于核，则x必定为帕累托有效。
因为若x不是帕累托有效，则包括所有当事人的联合会改进x。
在此意义上，核是帕累托有效集的推广。
若一个分配属于核，每组当事人都从交易中得到部分收获——没有一组有背叛的激励。
核中的平等对待。
假设当事人的偏好是严格凸，严格单调和连续的。
则若x是给定经济的r——核中的分配，则同类的任何两个当事人必须接受相同的商品束。
核直接是初始禀赋。
如图21-1所示，图中E点既是初始禀赋又是经济的核。
图21-12．考虑一个单纯交换经济，所有消费者具有形式为的可微拟线性效用函数。
假定是严格凹的。
证明均衡唯一。
Consider a pure exchange economy in which all consumers have differentiable quasilinear utility functions of the form ()10n u x x x +，…，.Assume that ()1n u x x ，…，is strictly concave.Show that equilibrium must be unique.证明：均衡的唯一性。
假设z 是一个定义于价格单形上的具有连续导函数的总超额需求函数，且当0i p =时，有()0i z p ＞。
3Where Prices Come From: The Interaction of Demandand SupplyChapter SummaryThe model of demand and supply explains how prices are determined in a market system. The main factor affecting the demand for a product is its price. A demand schedule lists various prices of a product and the quantities demanded at those prices. A demand curve shows this same relationship in a graph. The law of demand is the negative relationship between price and quantity demanded, holding everything else constant. Other factors that affect demand include prices of related goods (substitutes and complements), income, tastes, population and demographics, and expected future prices. Responses to changes in any of these shift a product’s demand curve and are called changes in demand.The most important factor affecting the supply of a product is its price. A supply schedule lists various prices of a product and the quantities supplied at those prices. A supply curve shows this same relationship in a graph. The law of supply is the positive relationship between price and quantity supplied, holding everything else constant. Other factors that affect supply include prices of inputs, technological change, prices of substitutes in production, expected future prices, and the number of firms in the market. In response to a change in any one of these factors there will be a change in supply or a shift in the supply curve.The intersection of demand and supply creates an equilibrium price. A surplus exists when the price charged is above the equilibrium price. A shortage exists when the price charged is below the equilibrium price. When the price charged equals the equilibrium price both consumers and producers are willing to exchange the same quantity of the product and there is no further movement in the market price.An increase in demand increases equilibrium price and increases the equilibrium quantity. A decrease in demand decreases equilibrium price and decreases the equilibrium quantity. An increase in supply decreases equilibrium price and increases the equilibrium quantity. A decrease in supply increases equilibrium price and decreases the equilibrium quantity.Learning ObjectivesWhen you finish this chapter you should be able to:1.Understand the factors that influence the demand for goods and services. Many factorsinfluence the willingness of consumers to buy a particular product. Among these factors are theincome they have to spend and the effectiveness of advertising campaigns of the companies that sellproducts consumers want. The most important factor in consumer decisions, though, is the price ofthe product. It is important to note that demand refers not to what a consumer wants to buy but whatWhere Prices Come From: The Interaction of Demand and Supply 33 the consumer is both willing and able to buy. In other words it’s not only what consumers want butalso what they can afford.2.Understand the factors that influence the supply of goods and services. Just as many variablesinfluence consumer demand, many variables influence the willingness and ability of firms to sell agood or service. Among these variables are the prices of inputs used in production and the number offirms in the market. The most important variable that affects firms is the price of whatever they sell.3.Explain how equilibrium in a market is reached, and use a graph to illustrate marketequilibrium. Economists use graphs to show how demand and supply interact in a competitivemarket to establish equilibrium. The graph of a competitive market shows that quantity demandedequals quantity supplied at the equilibrium price. When the price is greater than the equilibriumprice, a surplus exists. In response to the surplus the market price will fall to the equilibrium level.When the price is less than the equilibrium price, a shortage exists. In response to the shortage themarket price will rise to the equilibrium level.e demand and supply graphs to predict changes in prices and quantities. Demand and supplyin most markets change constantly. As a result, equilibrium prices and quantities change constantly.Graphs show the impact on competitive market equilibrium of increases and decreases in demandand supply.Chapter ReviewChapter Opener: How Hewlett-Packard Manages the Demand for PrintersHewlett-Packard (H-P) is a leading selling of printers in the United States. The firm’s success depends on the ability of its executives to analyse and react to changes in the demand and supply of its products. HP’s ability to sell printers is closely tied to the sales of computers and digital cameras. The strength of the overall economy also affects H-P’s business. For example, when the U.S. economy experienced a recession in 2000, sales of computers and printers fell.Helpful Study HintHewlett-Packard and the market for printers are used throughout the chapter to demonstrate changes in demand and supply and how they affect prices. At the end of this chapter An Inside Look describes the competition the company faces in the markets for personal computers and printers.The Demand Side of the MarketAlthough many factors influence the willingness of consumers to buy a particular product the main influence on consumer decisions is the product’s price. The quantity demanded of a good or service is the amount that a consumer is willing and able to purchase at a given price. A demand schedule is a table showing the relationship between the price of a product and the quantity of the product demanded. A demand curve shows this same relationship in a graph. Because quantity demanded always increases in response to a decrease in34 Chapter 3price, this relationship is called the law of demand. The law of demand is explained by the substitution and income effects. The substitution effect is the change in quantity demanded of a good that results from a change in price, making the good more or less expensive relative to other goods that are substitutes for it. The income effect is the change in the quantity demanded of a good that results from the effect of a change in the good’s price on consumer purchasing power.Ceteris paribus (“all else equal”) is the requirement that when analysing the relationship between two variables - such as price and quantity demanded - other variables must be held constant. When one of the non-price factors that influence demand changes a shift in demand - an increase or decrease in demand - results. The most important non-price influences on demand are prices of related goods (substitutes and complements), income, tastes, population and demographics and expected future prices.Substitutes are goods and services that can be used for the same purpose while complements are goods that are used together. A decrease in the price of a substitute for good A causes the quantity of the substitute demanded to increase, shifting the demand curve for good A to the left. An increase in the price of a substitute for good A causes the quantity of the substitute demanded to decrease, shifting the demand curves for good A to the right. Changes in prices of complements have the opposite effect. A decrease in the price of a complement for good B causes the quantity of the complement demanded to increase, shifting the demand curve for good A to the right. An increase in the price of a complement for good B causes the quantity of the complement demanded to decrease, shifting the demand curve for good A to the left.The income that consumers have available to spend affects their willingness to buy a good. A normal good is a good for which demand increases as income rises and decreases as income falls. An inferior good is a good for which demand increases as income falls and decreases as income rises. When consumers’ tastes for a product increase, the demand curve for the product will shift to the right, and when consumers’ tastes for a product decrease, the demand curve for the product will shift to the left.As population increases, the demand for most products increases. Demographics are the characteristics of a population with respect to age, race, and gender. As demographics change the demand for particular goods will increase or decrease because different categories of people will have different preferences for those goods. If enough consumers become convinced that a good will be selling for a lower price in the near future, the demand for the good will decrease in the present. If enough consumers become convinced that the price of a good will be higher in the near future, the demand for the good will increase in the present.Helpful Study HintStudents often confuse a change in quantity demanded with a change in demand. Only one variable, the price of a good or service, can cause changes in quantity demanded. This change is described as a movement along a demand curve. Changes in demand are caused by changes in non-price factors. Constant repetition is essential to understand this important difference. Use Making the Connection 3.1 (page 68) and Making the Connection 3.2 (page 81) to find examples of factors that change demand. Be sure you understand why it is demand and not quantity demanded that changes.The Supply Side of the MarketMany variables influence the willingness of firms to sell a good or service. The most important of these variables is price. Quantity supplied is the amount of a good or service that a firm is willing to sell at a givenWhere Prices Come From: The Interaction of Demand and Supply 35 price. A supply schedule is a table that shows the relationship between the price of a product and the quantity of the product supplied. A supply curve shows this same relationship in a graph. The law of supply states that, holding everything else constant, increases in price cause increases in the quantity supplied and decreases in price cause decreases in the quantity supplied.Variables other than price affect supply. When any of these variables change, a shift in supply - an increase or a decrease in supply - results. The following are the most important variables that shift supply: prices of inputs used in production, technological change, prices of substitutes in production, expected future prices and the number of firms in the market.If the price of an input (for example, labour or energy) used to produce a good rises, the supply for the good will decrease and the supply curve will shift to the left. If the price of an input decreases, the supply for the good will increase and the supply curve will shift to the right. Technological change is a positive or negative change in the ability of a firm to produce a given level of output with a given amount of inputs. A positive technological change will shift a firm’s supply curve to the right while a negative technological change will shift a firm’s supply curve to the left.An increase in the price of an alternative good (B) that a firm could produce instead of producing good A will shift the firm’s supply curve for good A to the left. If a firm expects the price of its product will rise in the future, the firm has an incentive to decrease supply in the present and increase supply in the future. When firms enter a market, the market supply curve shifts to the right. When firms exit a market, the market supply curve shifts to the left.Helpful Study HintThe law of supply may seem logical because producers earn more profit when the price they sell their products for rises. But consider Figure 3.7 (pages 72-73) and the following question: “If Hewlett-Packard can earn a profit from selling 9 million printers per month at a price of $125, why not increase quantity supplied to 10 million and make even more profit?” The upward slope of the supply curve is due not only to the profit motive but the increasing marginal cost of printers. (Increasing marginal costs were discussed in Chapter 2.) Hewlett-Packard will increase its quantity supplied from 9 to 10 million in Figure 3.7 only if the price it will receives is $175 because the cost of producing one million more printers is greater than the cost of the last one million printers.As with demand and quantity demanded, be careful not to confuse a change in quantity supplied (due only to a change in the price of a product) and a change in supply (a shift of the supply curve in response to one of the non-price factors). Constant reinforcement of this is necessary. Be careful not to refer to an increase in supply as “a downward shift” or a decrease in supply as “an upward shift.” Because demand curves are downward-sloping, an increase in demand appears in a graph as an “upward shift.” But because supply curves are upward-sloping, a decrease in supply appears in a graph as an “upward shift.” You should always refer to both changes in demand and supply as being “shifts to the right” and “shifts to the left” to avoid confusion.36 Chapter 3Market Equilibrium: Putting Demand and Supply TogetherThe purpose of markets is to bring buyers and sellers together. The interaction of buyers and sellers in markets results in firms producing goods and services consumers both want and can afford. At market equilibrium the price of the product makes quantity demanded equal quantity supplied. A competitive market equilibrium is a market equilibrium with many buyers and many sellers. The market price (the actual price you would pay for the product) will not always be the equilibrium price. A surplus is a situation in which the quantity supplied is greater than the quantity demanded. When there is surplus the market price is above the equilibrium price. Firms have an incentive to increase sales by lowering price. As the market price is lowered, quantity demanded will rise and quantity supplied will fall until the market reaches equilibrium.A shortage is a situation in which quantity demanded is greater than the quantity supplied. When there is a shortage the market price is below the equilibrium price. Some consumers will want to buy the product at a higher price to make sure they get what they want. As the market price rises the quantity demanded will fall - not everyone will want to buy at a higher price - and quantity supplied will rise until the market reaches equilibrium. At the competitive market equilibrium there is no reason for the price to change unless either the demand curve or the supply curve shifts.Helpful Study HintIt’s very important to understand how demand and supply interact to reach equilibrium. Remember that adjustments to a shortage and a surplus reflect changes in quantity demanded (not demand) and quantity supplied (not supply). Solved Problem 3.1 (page 80-81) addresses this. Market or actual prices are easy to understand because these are the prices consumers are charged. You know the price you paid for a CD because it is printed on the receipt. But no receipt has “equilibrium price” written on it.To help you understand what an equilibrium price and quantity are, it may help to use an analogy. Suppose you were to push an inflated ball under the surface of a sink filled with water. If you were to release the ball it would move quickly to the surface. If you were to hold the ball above the sink and drop it, the ball would fall to the surface. The surface of the water is the equilibrium position for the ball. A market equilibrium is the position a market will move towards if there is a shortage or surplus.The Effect of Demand and Supply Shifts on EquilibriumWhen the supply curve shifts, the equilibrium price and quantity change in the opposite direction. Increases in supply result from the following non-price factor changes: a decrease in an input price, positive technological change, a decrease in the price of a substitute in production, a lower expected future product price and an increase in the number of firms in the market. A decrease in supply results in a higher equilibrium price and a lower equilibrium quantity. Decreases in supply result from the following non-price factor changes: an increase in an input price, negative technological change, an increase in the price of a substitute in production, a higher expected future product price and a decrease in the number of firms in the market.When the demand curve shifts, the equilibrium price and quantity shift in the same direction. Increases in demand can be caused by any change in a variable that affects demand except price. For example, demand willWhere Prices Come From: The Interaction of Demand and Supply 37 increase if the price of a substitute rises, the price of a complement falls, income rises (for a normal good), income falls (for an inferior good), population increases or the expected future price of the product rises. A decrease in demand results in a lower equilibrium price and lower equilibrium quantity. Decreases in demand can be caused by any change in a variable that affects demand except price. For example, demand will decrease if the price of a substitute falls, the price of a complement rises, income falls (for a normal good), incomes rises (for an inferior good), population decreases, or the expected future price of the product falls.Helpful Study HintMaking the Connection 3.2 (page 81), Solved Problem 3.2 (pages 83-85) and questions 11-14 of the Problems and Applications can be used to conduct your own research on how changes in supply and demand affect prices in your community for products such as flat-screen televisions, watermelons and housing. For example, visit stores that sell flat-screen televisions and find out their market prices. Compare the market price you find with the expected prices as described in Making the Connection 3.2. For watermelons ask sellers how current prices compare with prices at different times of the year. Draw demand and supply diagrams that represent the market conditions you observe. You can ask your instructor if your analysis is correct.Solved ProblemChapter 3 of the textbook includes two Solved Problems that support learning objectives 1 (“Use a graph to illustrate market equilibrium”) and 4 (“Use demand and supply graphs to predict changes in prices and quantities”). The following is an additional Solved Problem that supports another learning objective from this chapter.Solved Problem 3.3 Supports Learning Objective 3.2: Understand the factors that influence the supply of goods and services.‘A farmer went to market to market to sell a…’Television programming in many parts of regional Australia features many commercials aimed at farmers. Ads for fertiliser, seed, and farm equipment are as common as commercials for laundry soap and soft drinks. Much of the nation’s wheat is grown in areas where the climate and soil conditions are well-suited for growing barley as well. Each year a farmer must decide how many acres of land to plant with wheat and how many acres to plant with barley.a)If both crops can be grown on the same land, why would a farmer choose to produce wheat ratherthan barley?b)Which of the variables that influence supply would explain a farmer’s choice to produce barley orwheat?Solving the ProblemStep 1: Review the chapter material. This problem refers to factors variables that affect supply, so you may want to review the section “Variables That Shift Supply,” which begins on pages 72-75 of the textbook.38 Chapter 3Step 2: Answer question (a) by explaining why a farmer would choose to produce wheat rather than barley. Among the factors that would influence a farmer’s choice is the expected profitability of the two crops.A farmer will grow wheat rather than barley if he expects the profits from growing wheat will be greater than those earned from growing barley.Step 3: Answer question (b) by explaining which variables may affect the farmer’s choice. Other things being equal, as the price of barley falls relative to the price of wheat, the supply of wheat would rise. Because wheat and barley are substitutes in production the variable “prices of substitutes in production” is the variable that would explain the farmer’s choice.Self-Test(Answers are provided at the end of the Self-Test.)Multiple-Choice Questions1.What does the term quantity demanded refer to?a.The total amount of a good that a consumer is willing to spend per month.b.The quantity of a good or service demanded that corresponds to the quantity supplied.c.The quantity of a good or service that a consumer is willing to purchase at a given price.d.None of the above2.Which of the following is the textbook’s definition of demand curve?a.The quantity of a good or service that a consumer is willing to purchase at a given price.b. A table showing the relationship between the price of a product and the quantity of theproduct demanded.c. A curve that shows the relationship between the price of a product and the quantity of theproduct demanded.d.The demand for a product by all the consumers in a given geographical area.Where Prices Come From: The Interaction of Demand and Supply 39 3.Refer to the graph below. What happens to quantity demanded in this graph?a.It increases as the price increases.b.It increases as the price decreases.c.It may increase or decrease as the price increases.d.It is not related to price.4.When the price of a printer rises, the quantity of printers demanded by Kate falls. According to thisstatement, what do we call Kate’s demand curve for printers?a.Unpredictableb.Upward slopingc.Downward slopingb.An exception to the law of demand5.If there are three consumers in a market, how can market demand be obtained?a.By adding the prices that consumers are willing to pay for a given quantity of output.b. b.By adding the quantities that consumers are willing to purchase at a given price, forvarious price levels.c.By adding both the prices consumers are willing to pay and the quantities consumers arewilling to purchase.d.By dividing the quantity demanded in the market by three.40 Chapter 36.What is the law of demand?a.The law of demand states that a change in the quantity demanded, caused by changes inprice, makes the good more or less expensive relative to other goods.b.The law of demand states that a change in the quantity demanded, caused by changes inprice, affects a consumer’s purchasing power.c.The law of demand states that, holding everything else constant, when the price of goodfalls, the quantity demanded will increase.d.The law of demand is the requirement that when analysing the relationship between priceand quantity demanded, other variables must be held constant.7.Which of the following best describes how consumers consider buying other goods when the price ofa good rises?a.The law of demandb.The substitution effectc.The income effectb.The term ceteris paribus8.Refer to the graphs below. Each graph refers to the demand for printers. Which of the graphs bestd escribes the impact of an increase in the price of a substitute good?a.The graph on the leftb.The graph on the rightc.Both graphsd.Neither graphWhere Prices Come From: The Interaction of Demand and Supply 41 9.Refer to the graphs below. Each graph refers to the demand for printers. Which of the graphs bestdescribes the impact of an increase in income, assuming that printers are a normal good?a.The graph on the leftb.The graph on the rightc.Both graphsb.Neither graph10.Refer to the graphs below. Each graph refers to the demand for printers. Which of the graphs bestdescribes the impact of an increase in population?a.The graph on the leftb.The graph on the rightc.Both graphsd.Neither graph11.When two goods are complements, which of the following occurs?a.The two goods can be used for the same purpose.b.The two goods are used together.c.The demand for each of these goods increases when income rises.d.The demand for each of these goods increases as income falls.12.What is an inferior good?a. A good for which demand increases as income risesb. A good for which demand decreases as income risesc. A good that cannot be used together with another goodb. A good that does not serve any real purpose13.Refer to the graph below. Which of the following moves best describes a change in demand?a.The move from A to Bb.The move from A to Cc.Either the move from A to B or the move from A to Cd.The move from B to A14.Refer to the graph below. Which of the following moves best describes what happens when a changein something other than the price of printers affects the market demand for printers?a.The move from A to Bb.The move from A to Cc.Either the move from A to B or the move from A to Cb.None of the above15.What does the term quantity supplied refer to?a.The quantity of a good or service that a firm is willing to supply at a given priceb. A table that shows the relationship between the price of a product and the quantity of theproduct suppliedc. A curve that shows the relationship between the price of a product and the quantity of theproduct demandedd.None of the above16.Which of the following is the textbook’s definition of supply curve?a.The quantity of a good or service that a firm is willing to supply at a given priceb. A table that shows the relationship between the price of a product and the quantity of theproduct suppliedc. A curve that shows the relationship between the price of a product and the quantity of theproduct suppliedd.None of the above17.Which of the following statements is correct?a.Once we know the market supply curve, we also know all the individual supply demandcurves.b.To derive a market supply curve, we add the prices that producers must obtain in order toproduce a given quantity of output.c.To derive a market supply curve, we can add horizontally individual supply curves.d.All of the above statements are correct.18.Refer to the graphs below. Each graph refers to the supply for printers. Which of the graphs bestdescribes the impact of an increase in the price of an input?a.The graph on the leftb.The graph on the rightc.Both graphsd.Neither graph19.Refer to the graphs below. Each graph refers to the supply for printers. Which of the graphs bestdescribes the impact of an increase in the price of a substitute in production?a.The graph on the leftb.The graph on the rightc.Both graphsb.Neither graph20.Refer to the graphs below. Each graph refers to the supply for printers. Which of the graphs bestdescribes the impact of an increase in the number of firms in the market?a.The graph on the leftb.The graph on the rightc.Both graphsd.Neither graphShort Answer Questions1.What evidence can be used to support the following statement? “Tickets to the cricketWorld Cup final and the AFL Grand Final do not sell at their equilibrium prices.”2. In response to a surplus, firms will lower a product’s price until the quantity suppliedequals quantity demanded. But prices of some goods will fall more quickly than others.What type of good would firms lower the price of quickly in response to a surplus?3.Explain the difference between a shortage and scarcity.4. During 2005 there were over 80,000 people on waiting lists for kidney, lung and otherorgan transplant operations in the U.S. By law, organ donors and their families in theU.S. may not be paid for the donated organs (as in Australia). If payments for organdonations were made legal in the U.S. would this affect the demand or the quantitydemanded for organ transplants demanded?。
第7章 效用最大化1．考虑由如下关系定义的偏好：()()12121212x x y y x x y y ⇔+<+，，（a ）该偏好是否满足局部非饱和性假设？（b ）若消费集中仅包括两种消费物品，且消费者面临正的价格，消费者会花费其全部收入吗？请解释。
Considerpreferencesdefinedoverthenonnegativeorthantby()()1212x x y y ，， if1212x x y y +<+. Do these preferences exhibit local nonsatiation?If these are the only two consumption goods and the consumer faces positive prices, will the consumer spend all of his income? Explain.答：（a ）由局部非饱和性的定义：给定消费集X 中的任意消费束x 和任意0ε>，消费集X 中总存在消费束y ，满足x y ε-<，使得yx 。
局部非饱和性的含义是：即使仅允许对消费束作微小调整，消费者也可以做得更好一些。
对于任意的消费束()()1200x x ≠ ，，和非常小的正数ε，令：1122y x y x == 那么：12x y εε-≤<所以该偏好满足局部非饱和性，但是在()00 ，这一点除外。
（b ）消费者不会花光他全部的收入，理由如下：对任意花光全部收入的消费束，一定有：1122p x p x m +=对于这样的消费束，消费者只要把每种商品的消费量减少一点就可以提高自己的效用，因此在追求效用最大化的假设条件下，消费者是不会花光他全部收入的。
2．某一消费者具有效用函数(){}1212max u x x x x = ，，。
求消费者对物品1的需求函数，并求消费者的间接效用函数和支出函数。
第3章 消费者选择【练习及思考】参考答案要点1．填空题（1）基数效用论采用的是_边际效用分析 方法，序数效用论采用的是_无差异分析方法。
（2）用公式来表示消费者均衡条件为yy x x P MU P MU =和M Q P Q P y y x x =⋅+⋅。
(3）无差异曲线是用来表示两种商品的不同数量的组合给消费者所带来的_效用_完全相同的一条曲线。
(4)无差异曲线是一条向 右下方 倾斜的线，其斜率为_负__________。
(5）在同一坐标图上，离原点越远的无差异曲线，所代表的效用水平越___高________，离原点越近的无差异曲线，所代表的效用水平越__低_________。
2．判断题（下面判断正确的在括号内打√，不正确的打×）（1）（×）效用是一个客观的概念，因为它就是商品的使用价值。
（2）（×）基数效用论与序数效用论截然相反，分析结果不同。
（3）（√）同样商品的效用因人、因时、因地的不同而不同。
（4）（√）只要商品的数量在增加，边际效用大于零，消费者得到的总效用就一定在增加。
（5）（×）在同一条无差异曲线上，不同的消费者所得到的总效用是无差别的。
（6）（×）在无差异曲线与消费可能线的交点上，消费者所得到的效用达到最大。
（7）（√）需求线上的任何一点消费者都实现了效用最大。
（8）（×）消费者剩余是指消费者花费的货币少，而买到的东西多。
3．选择题（1）无差异曲线（B ）A 向右上方倾斜B 向右下方倾斜C 与纵轴平行D 与横轴平行（2）消费可能线上每一点所反映的可能购买的两种商品的数量组合（ B ）。
A 是相同的B 是不同的C 在某些场合下是相同的D 在某些场合下相同，在某些场合下不相同（3）总效用曲线达到最高点时（ D ）A 边际效用达到最大B 边际效用为负C 边际效用为正D 边际效用为零（4）一个消费者想要一单位X 商品的心情甚于想要一单位Y 商品，原因是（A ）。
第13章竞争市场Let ()v p m +be the indirect utility function of a representative consumer,and let ()p πbe the profit function of a representative firm.Let welfare as a function of price be given by ()()v p p π+.Show that the competitive price minimizes this function.Can you explain why the equilibrium price minimizes this welfare measure rather than maximizes it?答：令福利函数的一阶导数为零，则有：()()0v p p π''+=。
根据罗伊尔定理和霍特林引理，一阶导表达式可写为：()()0x p y p -+=，这完全是需求等于供给的条件，也就是说，均衡时的价格能够满足福利函数的一阶导为零的条件。
同时，这一福利函数的二阶导数表达式为：()()x p y p ''-+，由需求曲线向下倾斜与供给曲线向上倾斜的性质可知它显然是正值。
因此，该福利函数在均衡价格p 处具有极小值而不是极大值。
在任何不同于均衡价格的水平上，厂商供给的数量不同于消费者需求的数量。
因此其他价格无法使得福利达到最大化。
2．证明：当价格从0p 变至1p 时，供给函数在0p 与1p 间积分所给出的利润变化。
Show that the integral of the supply function between 0p and 1p gives the change in profits when price changes from 0p to 1p .证明：由霍特林引理：()()/p w p y p π∂ ∂=，，可以得到利润变化为：3．一个有大量厂商的行业，每一厂商都取如下的成本函数形式（a）找出厂商的平均成本曲线，描述它如何随要素价格w w的变化而移动。
