翻译好的微观期末考题库
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1、The U.S. Department of Agriculture is interested in analyzing the domestic marketfor corn. The USDA's staff economists estimate the following equations for the demand and supply curves:Q d = 1,600 - 125P Q s = 440 + 165PQuantities are measured in millions of bushels; prices are measured indollars per bushel.a. Calculate the equilibrium price and quantity that will prevail undera completely free market.b. Calculate the price elasticities of supply and demand at theequilibrium values.c. The government currently has a $4.50 bushel support price inplace. What impact will this support price have on the market? Will the government be forced to purchase corn under a program that requires them to buy up any surpluses? If so, how much?1、美国农业部有兴趣分析国内玉米市场。
美国农业部的经济学家为需求和供给曲线预估的等式如下:Q d = 1,600 - 125P Q s = 440 + 165P算式以百万蒲式耳为单位,价格以每蒲式耳的美元价格计算。
a.请计算在完全竞争市场条件下的均衡价格和数量。
b.请计算该均衡价格下的供应和需求的价格弹性。
c.政府目前实行有每蒲式耳4.50美元的支持性价格。
请问在市场上,这个支持性价格会对市场有什么样的影响?政府是否会受一个将要求他们购买所有盈余的计划影响,而被迫购买玉米?如果是这样,需要购买有多少?(参考:微观经济学第二章22-55页)Solution:a. Set Q d = Q s to determine price.1600 - 125P = 440 + 165P 1160 = 290P P = 4令Q d = Q s 来确定价格Obtain Q by substituting into either expression. Q d = 1600 - 125(4) Q d = 1600 – 500 Q = 1100P * = $4, Q * = 1100将P 代回原式任一个来获得Qb. For the Own Price Elasticity of Demand 0.4511004125E -=⨯-=(approximately)For the Own Price Elasticity of Supply0.6011004165E =⨯=c. Calculate Q d and Q s at the $4.50 price Q d = 1600 - 125(4.5) Q d = 1037.5Q s = 440 + 165(4.5) Q s = 1182.5surplus = Q s - Q d = 1182.5 - 1037.5 = 145The support price would create an excess supply of 145 million bushels that the government would be forced to buy.由支持性价格带来的供应过剩为 1.45亿蒲式耳,这是政府将被迫购买的数量。
2、American Mining Company is interested in obtaining quick estimates of the supply and demand curves for coal. The firm's research department informs you that the elasticity of supply is approximately 1.7, the elasticity of demand is approximately -0.85, and the current price and quantity are $41 and 1,206, respectively. Price is measured in dollars per ton, quantity the number of tons per week.(a) Estimate linear supply and demand curves at the current price and quantity.(b) What impact would a 10% increase in demand have on the equilibrium price and quantity?(c) If the government refused to let American raise the price when demand increased in (b) above, what shortage is created?美国矿业公司有兴趣快速获取煤炭供给和需求曲线的估计。
该公司的研究部门通知你,供给弹性约为1.7,需求的弹性约为-0.85,同时目前的价格是41美元,数量为1,206,其中价格单位是”美元/吨”,数量单位是“吨/星期”。
(a )请在当前的价格和数量情况下估算线性供给和需求曲线。
(b )如果需求增加10%,会给均衡价格和数量带来什么影响?(c )如果政府拒绝让美方提高价格,那么当如上述(b )项中的需求出现增长时,会造成怎样的短缺?(参考:微观经济学第二章22-55页)Solution:a. First we estimate the demand curve Q = a O - b O PElastiticy of demand = QP 0b ⨯1206410b=.85⨯-1025.1 = b O x 41b O = 25Q = a O - b O P1206 = a O - 25(41) 1206 = a O – 1025 a O = 2231Q O = 2231 - 25PNext, we estimate the supply curve Q = a 1 + b 1PElasticity of Supply = QP 1b ⨯1206411b =1.7⨯2050.2x = b 1 x 41 b 1 = 50Q = a 1 + b 1P1206 = a 1 + 50(41) a 1 = -844Q s = -844 + 50PCheck to see if correct: Set Q s = Q d2231 - 25P = -844 + 50P 3075 = 75P P = 41The equations are correct.b. Multiply demand equation by 1.101.10 (2231 - 25P) Q d ' = Q s and solve Q s = -844 + 50P Set Q d ' = Q s and solve. 2454.1 - 27.5P = -844 + 50P 3298.1 = 77.5P P = 42.56Substitute P into Q d ' to find quantity demandedQ d ' = 2454.1 - 27.5(42.56) Q d ' = 1283.7 or 1284c. Since price cannot rise, the shortage will be the quantity demandedwith the new demand minus the quantity supplied with the unchanged supply由于价格不能上升,短缺将是新需求的数量,减去未改变的供给的数量。
Quantity demanded:Q = 2454.1 - 27.5(41) = 1326.6Quantity supplied: Q = -844 + 50(41) = 1206.0Shortage = 1326.6 - 1206.0 = 120.63、The following table presents Mary's marginal utility for each of the four goods sheconsumes to exhaust her income. The price of Good 1 is $1, the price of Good 2 is $2, the price of Good 3 is $3 and the price of Good 4 is $4. Indicate the consumption bundle in the table that maximizes Mary's level of utility. 下表列出了消耗光玛丽收入的四种货物的每种的边际效用。
货物1价格1美元,货物2价格 2美元,货物3价格 3美元,货物4价格 4美元。
请指出表中可最大限度地提高玛丽的效用水平的消费组合。
Solution: In equilibrium, we know that31241234.===MU MU MU MU P P P P Since212,=P Pwe know we need a bundle such that 212.=MU MU Thisonly occurs at bundle C. In fact, the marginal utility per dollar acrossall goods are equivalent for bundle C. Bundle C is the optimal choice.解决方案:我们知道,在均衡处31241234.===MU MU MU MU P P P P 由于212,=P P 我们知道我们需要一个组合,使得212.=MU MU 这只发生在组合C 。