課程名稱︰個體經濟學一
課程性質︰經濟系大二必修
課程教師︰古慧雯
開課學院：社會科學院
開課系所︰經濟學系
考試日期（年月日）︰2011/1/10
考試時限（分鐘）：100 min
是否需發放獎勵金：Yes, thanks a lot.
（如未明確表示，則不予發放）
試題 :
總分33分。答題皆須附說明，未做解釋的答案概不計分。
1. Good Y is provided by a competitive increasing-cost industry. The total cost
function of manuffacturer i is:
TCi(q) = i^2 + q^2 , i = 1, 2, 3, ......
where q denotes the quantity produced in a year. Let p denote the market price.
The yearly market demand is:
q = 120 - p.
(a) (2 points) What is the break-even price of manufacturer i?
(b) (2 points) What is the long-run supply function of manufacturer i?
(c) (2 points) How many manufacturers will produce Y in the long-run
equilibrium?
(d) (4 points) A lump-sum subsidy $x is given to every manufacturer of good Y,
independent of how many units he produces.How will this subsidy
change the equilibrium price in the short-run and in the long-run?
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2.A's production possibility curve is:
2x + y = 10
and B's production possibility curve is:
x + y = 5
They have the same utility function:
u = xy
(a) (1 point) Please prove that
A's marginal rate of substitution (|dy/dx|) is y/x.
(b) (2 points) If A lives alone and has no opportunity to trade with others,
how many units of x will he produce?
(c) We now turn to consider that A meets B and two of them consider to trade.
Let p denote the relative price of x. For instance, if p =2, one could sell
1 unit of x in exchange for 2 units of y.
(i) (2 points) If p = 3,how many units of x will A produce? And what is A's
budget constraint?
(ii) (1 points) Is p = 3 an equilibrium price? Why?
(iii) (2 points) Let x_i and y_i denote the optimal consumption of i, i = A,B.
Please calculate (y_A + y_B)/(x_A + x_B) when p = 1.5.
(iv) (2 points) Is p = 1.5 an equilibrium price? Why?
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3.Suppose no coffee is produced domestically, and we can buy as much coffee as
we want from foreign producers at a price of $10 per pound.At this price,1000
pounds are consumed per week.The government has decided to make coffee
availible to all citizens at a price of $3 instead.It gets the coffee by
purchasing it from foreigners.
(a)(2 points) Draw a graph to show the deadweight loss of this program.
(b)(2 points) Suppose that the government modifies the program.It will continue
to sell coffee at $3, but will provide only 1000 pounds per week,
choosing randomly those citizens who are permitted to buy them.
Does this revised program have any deadweight loss?
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4.Consider the following commercial:
SAVE認證聯盟除銷售經認證優質中古車輛外，提供引擎、
變速箱及方向機三大系統保固一年或兩萬公里。
(a)(2 points) What problem does SAVE認證聯盟 intend to resolve? Moral hazard or
adverse selection?
(b) Consider a market of second-hand aotomobiles. Though a seller understands
the condition of his car,buyers could not tell its condition.If the car is in
a good condition,it is worth $80000 to the buyer and $70000 to the seller.If
the car is in a bad condition,it is worth $40000 to the buyer and $30000 to
the seller.When a buyer could not tell the condition of a car,he will pay for
its expected value to him.There are 50 good cars and 50 bad cars to be sold.
On the other hand,there are 1000 interested buyers and becarse of the
relatively large number of buyers,when a deal is made,the interested buyers
will bid up the price to their willingness to pay.
(i)(2 points) How many cars will be sold in equilibrium?
(ii)(2 points) The owners of good cars consider to offer a warranty like
SAVE's.This warranty is costless to them.If an owner of a bad car offers
the same warranty,because of the expected repairing fee,the warranty costs
the seller $10000.While a warranty of a good car adds no value to the car,
a warranty of a bad car makes the value to a buyer higher by $10000.In the
end could the good car owners use the warranty to successfully signal the
condition of their cars?
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5.(1 point)Given the following date,which good would David Ricardo (1817) think
England would export? Why did he think so?
In England,to produce 1 unit of cloth,it requires the labour of 100 men
for one year;and to produce 1 unit of wine,it requires labour of 120 men
for the some time.To produce 1 unit of wime in Portugal requires the
labour of 80 men for one year,and to produce 1 unit of cloth in the same
country requires the labour of 90 men for the same time.
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6.(1 point) The following is from Tullock (1971) :
The wealthy have more money,and hence can be subject to heavier taxes.
Thus the cost of admitting a wealthy person into a coalition,which
proposes to transfer money away from the 49 percent of the population
not members,is higher than the cost of permitting the entry of a poor
persen.
What does Tullok (1971) mean here? What kind of cost does he have in mind?
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7.(1 point) What was the odbervation by Adam Smith (1776) about the following
event?
By the reduction of the army and navy at the end of the late war, more
than a hundred thousand soldiers and seamen,a number equal to what is
employed in the greatest manufactures,were all at once thrown out of
their ordinary employment.
Did Adam Smith (1776) sense anysocial disorder,like an increasing number of
vagrants,becarse of this change? Why did Adam Smith (1776) mention this
incident in "Of Restraints upon the Importation from Foreign Countries of
such Goods as can be Produced at Home"?
Exam109.ctx
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