課程名稱︰個體經濟學一
課程性質︰必修
課程教師︰林明仁
開課系所︰經濟系
考試時間︰2005/1/13
試題 :
第二大題問答:
1.(6 points)Explain why a rent increase at Tony's Pizza Parlor would not cause Tony to raise his prices, but a rent increase at Tony's competitors may cause him to raise prices.
2.(10 points)Suppose labor is a variable input and capital is a fixed input, and consider a firm's short-run average,average variable,and marginal cost curves.
<1>What geometric relationships hold among these three curves?
<2>How would these curves be affected by an increase in the wage rate paid to labor?
<3>How would these three curves be affected by an increase in the rental rate paid to capital?
3.(6 points)Explain why a firm's long-run total cost is no greater than its short-run total cost.Under what circumstances will the two be equal?
4.(10 points) Suppose bicycles are produced by a competitive constant-cost industry, which is initially in a long-run equilibrium.For each of athe following situations, design a supply-demand diagram that shows how market price and quantity will be affected in both the short run and the long run. In your diagrams, show the short-run supply, long-run supply,and demand curves,along with any shifts in these curves.Label the initial long-run equalibrium E0,the new short-run equilibrium E1,and the new
long-run equilibrium E2.
<1>New health regulations require each bicycle firm to purchase an air purification system to reduce hazardous fumes in the workplace.Who pays for this increased cost in the short run? Who pays in the long run?
<2>The cost of titanium alloy rises, which adds $10 to the cost of manufacturing each bicycle frame. Who pays for this increased cost in the short run? Who pays in the long run?
5.(20 points) Kites are manufactured by identical firms.Each firm's long-run average and marginal costs of production are given by:
100
AC=Q+--- and MC=2Q
Q
where Q is the number of kites produced.
<1>In long-run equilibrium, how many kites will each firm produce?Describe the long-run supply curve for kites.
<2>Suppose that the demand for kites is given by the formula:Q=8000-50P
where Q is the quantity demanded and P is the price. How many kites will be sold? How many firms will there be in the kite industry?
<3>Suppose that the demand for kites unexpectedly goes up to :Q=9000-50P
In the short run, it is impossible to manufacture any more kites than those already in existence.What will the price of kites be? How much profit will each kitemaker earn?
<4>In the long run,what will the price of kites be? How many new firms will enter the kite-making industry? How much profit will they earn?
~END~
5.
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