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課程名稱︰個體經濟學下
課程性質︰經濟系必修
課程教師︰黃貞穎
開課學院：社會科學院
開課系所︰經濟系
考試日期（年月日）︰2007.6.18
考試時限（分鐘）：120分鐘
是否需發放獎勵金：Y
（如未明確表示，則不予發放）
試題 :
1.The Groves-Clarke mechanism can be used to decide whether a public garden
will be built. Suppose there are three persons,A,B and C in the society. The
total construction cost of the garden is 300 dollars. The gross value of
personsA,B and C for the garden is 50,50 and 250 dollars respectively. As in
the class, we assume that A,B and C all have quasilinear utilities.
(a)(10%)
Describe, in your own words, the Groves-Clarke mechanism.
(b)(10%)
Explain, in your own words, thy truth-telling is an quilibrium when the Groves
-Clarke mechanism is used.
(c)(10%)
Find a way to allocate the total construction cost of 300 dollars to persons A,
B and C so that both the public good and the private good are allocated
efficiently. Explain.
(d)(10%)
Discuss the possible drawbacks of the Groves-Clarke mechanism.
2.Consider a competitive economy with two frims and two consumers. The only
endowment in this economy is oil.
Firm 1 is owned by consumer 1,therefore, its profit becomes part of the income
for consumer 1. Firm 1 produces guns from oil via the production function
g=2x where g is the number of guns produced and x is the number of oil used.
Firm 2 is entirely owned by consumer 2, therefore, its profit becomes part of
the income for consumer 2. Firm 2 produces butter from oil via the production
function b=3x where b is the number of butter produced and x is the number of
oil used.
Each consumer owns 10 units of oil.
Consumer 1's utility is u(g,b)=g^(0.4)*b^(0.6) where g is the number of guns
consumed and b is the number fo butter consumed. Consumer 2's utility is
u(g,b)=10+0.5ln g +0.5 ln b where g is the number of guns consumed and b is
the number of butter consumed.
Note that both firms, consumers are assumed to be price takers in every market.
Recall that a competitive equilibrium is one in which every consumer maximizes
his utility, every firm maxmizes its profit and in every market, the quantity
supplied equals the quantity demanded at the equilibrium price.
下面都是一題10分
(a)State Walras'law
(b)Find the equilibrium price for guns, butter, and oil. (Hint:Note that both
firms exhibit constant return to scale technology and this implies that they
should earn zero profit in equilibrium. Also take into account of what Walras'
law implies about equilibrium prices.)
(c)Suppose the equilibrium price of oil is Po, that of guns Pg and that of
buffer is Pb. Write down consumer 1's budget constraint.
(d)How many guns and how much butter does each consumer consume?
(e)How much oil does each frim use?
(f)State, in your own words, the first fundamental welfare theorem.
(g)State, in your own words, the second fundamental welfare theorem.
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