92上 李顯峰經濟學原理期末考題

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1.(16%)Firm A is the only seller of the product X in the Big City,and faces
  the demand function:
                Q = 80 - 2P
  where Q is the quantity demanded,P is th unit of X.The marginal cost MC of
  X is 20.Find:(1)the optimal price Pm,quantity produced Qm,and economic
                  profit F,respectively.
               (2)Consumer surplus at optimal price CS.
               (3)If this market becomes perfectly competitive,compare the
                  optimal quantity produced in perfect competition Qc and
                  monopoly market Qm.
               (4)social welfare deadweight loss at Qm.

2.(14%)What is rent seeking?In which ways rent seekers pursue their goals?
  Are the firm's rent seeking cost variable or fixed cost?Illustrate and
  answer how does rent seeking influence the inefficiency of monopoly?

3.(10%)Illustrate and show what is the distinction between an economic rent
  and an opportunity cost for excellent singers?When a firm earns only normal
  profit,is its economic rent equal to producer's surplus?What determine the
  size of economic rent of the factor income,namely,perfectly inelastic or
  elastic supply or demnded curve?

4.(5%)When the government imposes a lump-sum excise tax T on the producer of
  the commodity X,what factors determine the tax shifting on consumers?

5.(5%)The Article 5 and 5.1 of the Fair Trade Law (公平交易法) prescribe the
  definition of a monopoly in Taiwan.Even one of several forms has dominant
  position and can crowd out competitive possibility in a specific market,is
  defined as a monopoly by the Law.Do you agree it?

6.(20%)Two firms,Faster and Quicker,are the only two producers of sports cars
  on an island that has no contact with the outside world.The firms collude
  and agree to share the market equally.If neither firm cheats on the
  agreement,each firm makes 2.5 million economic profit.If either firm cheats,
  the cheater can increase its economic profit to 4 million,while the firm
  that abides by the agreement incurs an economic loss of 1 million.Neither
  firm has any way of polocing the actions of the other.
  a.What is the payoff matrix of a game that is played just once?
  b.Describe the best strategy for each firm in a game that is played once.
  c.What is the equilibrium if the game is played once?
  d.If this game can be played many times,what are two strategies that could
    be adopted?

7.(20%)Barry makes party ice.He employs workers to bag the ice who can produce
  the following quantities in an hour:

       Number of workers    Quantity of ice(bags)
     -----------------------------------------------
              1                      20
              2                      50
              3                      90
              4                     120
              5                     145
              6                     165
              7                     180
              8                     190

   Barry can sell ice for 0.5 a bag and the wage rate of baggers is 10 an hour
   a.Calculate the marginal product of the workers and draw the marginal
     procuct curve.
   b.Calculate the marginal revenur product of the workers and draw the
     marginal revenur product curve.
   c.Find Barry's demand for labor curve.
   d.How much ice does Barry sell?

8.(10%)Alternative ways of making 100 shirts a day are:

            Method       Labor(hours)       Capital(machines)
               A              5                    25
               B             10                    20
               C             25                    10
               D             50                     5

   a.Which methods are technologically efficient?
   b.Which method is economically efficient if the wage rate is 1 an hour and
     the rental cost of a machine is 100 an hour?