科目：個體經濟學
教授：鄭秀玲
試別：92學年度下學期第二次期中考
時間：2004年05月13日
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範圍：Industry Supply、Monopoly、Monopoly Behavior、Oligopoly
（課本：Intermediate Microeconomics，Hal R. Varian，第六版，ch23.24.25.27）
Midterm ExaminationⅡ 5/13/2004
1. (20 points) Consider a market with one large firm and many firms.
The supply curve of the small firms taken together is S(p)=100+p.
The demand curve for the product is D(p)=200-p. The cost function for
the one large firm is c(y)=30y
(1.1) Suppose that the large firm attempts exploit its market power and
set a profit-maximizing price. In order to model this we assume that
customers always go first to the competitive firms and buy as much as
they are able to and then go the large firm. In this situation, what
will be the equilibrium price? What will be the quantity supplied by
the large firm? What will be the equilibrium quantity supplied by the
competitive firms? What will be the large firm's profit?
(1.2) Suppose that the large firm could force the competitive firms out of
the business and behave as a real monopolist. What will be the
equilibrium price? What will be the equibrium quantity? What will be
the large firm's profits?
2. (15points) A duopoly faces the inverse demand curve p=160-2q.
Firm 1's total cost funcition is given by C1(q1)=8q1 and firm 2's total
cost function is given by C2(q2)=10q2. In a Cournot equilibrium,
how many units of outputs are produced by firm 1 and firm 2 repectively?
3. (15 points) Mr. Kandle is about to open his newest amusement
park, Crazy World. Crazy World features a number of exciting attractions.
Mr. Kandle figures that Crazy World will attract 1000 people per day, and
each person will take x=40-40p rides, where p is the price of a ride.
Everyone who visits Crazy World is pretty much the same and negative rides
are not allowed. The marginal cost of a ride is essentially zero.
(3.1) If Mr. Kandle sets the price (not a two-part tariff) to maximize
profit, how many rides will be taken per day by a typical visitor?
What will be the price of a ride? What will Mr. Kandle's profits be
per person?
(3.2) What is the Pareto efficient price of a ride? If Mr. Kandle charged
the Pareto efficient price for a ride, how many rides would be purchased?
How much consumers's surplus would be generated at this price and
quantity?
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