范里安 微观经济学现代观点复习参考题

2. The market demand and budget constraint

3. Preference and utility function for a representative consumer

4. The optimal choice of a consumer and the relevant comparative analysis

5. Slutsky decomposition and Hicks decomposition

6. Endowment and the intertemporal choice of a consumer

7. Uncertainty and the relevant indices that measure social welfare

8. Market equilibrium

9. Technology and the framework of producer theory

10. Cost function and the industry

11. Monopoly and price discrimination

12. Oligopoly: Cournot Model and Bertrand Model

13. An introduction to Game theory

14. General equilibrium theory

15. Information economics

Lecture 1¡¡Introduction, the research object of microeconomic

1. Suppose that there were 25 people who had a reservation price of $500, and the 26 th person had a reservation price of $200. What would the demand curve like?

2. In the above example, what would the equilibrium price be if there were 24 apartments to rent? What if there were 26 apartments to rent? What if there were 25 apartments to rent?

3. In the text we assumed that the condominium purchasers came from the inner-ring people-people who were already renting apartments. What would happen to the price of inner-ring apartments if all of the condominium purchasers were outer-ring people- the people who were not currently renting apartments in the inner ring?

4. Suppose now that the condominium purchasers were all inner-ring people, but that each condominium was constructed from two apartments. What would happen to the price of apartments?

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Lecture 2¡¡The market demand and budget constraint1. If the price of good 1 doubles and the price of good 2 increases triples, dose the budge line become flatter or steeper?

2. What is the definition of a numeraire good?

3. If the income of the consumer increases and one of the prices decreases at the same time, will the consumer necessarily be at least as well-off?

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Lecture 3¡¡Preference and utility function for a representative consumer

1. A college football coach says that given any two linemen A and B, he always prefers the one who is bigger and faster. Is this preference relation transitive? Is it complete?

2. Can an indifference curve across itself? For example, would figure

3.2 depict a single indifference curve?

3. If both pepperoni and anchovies are bads, will the indifference curve have a positive or a negative slope?

4. Think of some other goods for which your preference might be concave?

5. We claimed in the text that if preference were monotonic, then a diagonal line through the origin would intersect each indifference curve exactly once. Can you prove this rigorously?

6. Can you explain why taking a monotonic transformation of a utility doesn't change the marginal rate of substitution?

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Lecture 4¡¡The optimal choice of a consumer and the relevant comparative analysis

1. If a consumer has a utility function ¦Ì(x1,x2)= x1*(x2^4), what fraction of her income will she spend on good 2?2. If two goods are perfect substitutes, what is the demand function for good 2?

3. For what kind of preferences will the consumer be just as well-off facing a quantity tax as an income tax?

4. If the preferences are concave will the consumer ever consumer both of the goods together?

5. Are all hamburgers and buns complements or substitutes?

6. What is the form of the inverse demand function for good 1 in the case of perfect complements?

7. True of false? If the demand function is x1=-p1, then the inverse demand function is x=-1/p1.

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Lecture 5¡¡Slutsky decomposition and Hicks decomposition

1. Suppose a consumer has preferences between two goods that are perfect substitutes. Can you change prices in such a way that the entire demand response is due to the income effect?

2. Suppose that preferences are concave. Is it still the case that the substitution effect is negative?

3. In the case of the gasoline tax, what would happen if the rebate to the consumers were based on their original consumption of gasoline, x, rather than on their final consumption of gasoline, x'?

4. In this case described in the preceding question, would the government be paying out more or less than it received in tax revenues?

5. In this case would the consumers be better off or worse off if the tax with rebate based on original consumption were in effect?

·µ»Ø¶¥²¿Lecture 6¡¡Endowment and the intertemporal choice of a consumer

1. The prices are (p1,p2)=(2,3), and the consumer is currently consuming (x1,x2)=(4,4). There is a perfect market for the two goods in which they can be bought and sold costlessly. Will the consumer necessarily prefer consuming the bundle (y1,y2)=(3,5)? Will she necessarily prefer having the bundle (y1,y2)?

2. The U.S. currently imports about half of the petroleum that it uses. The rest of its needs are met by domestic production. Could the price of oil rise so much that the U.S. would be made better off?

3. Suppose that by some miracle the number of hours in the day increased from 24 to 30 hours. How would this affect the budget constraint?

4. If leisure is an inferior good, what can you say about the slope of the labor supply curve?

5. Would the assumption that goods are perfect substitutes be valid in a study of intertemporal food purchases?

6. A consumer, who is initially a lender, remains a lender even after

a decline in interest rates. Is this consumer better off or worse off after the change in interest rate? if the consumer becomes a borrower after the change is he better off or worse off?

7. What is the present value of $100 one year from now if the interest rate is 10%? What is the present value if the interest rate is 5%?

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Lecture 7¡¡Uncertainty and the relevant indices that measure social welfare

1. How can one reach the consumption points to the left of the endowment in figure 1

2.1?

2. The risk-averse individual is offered a choice between a gamble that pays $1000 with a probability of 25% and $100 with a probability of 75%, or a payment of $325. Which would he choose?3. What if the payment was $320?

4. Draw a utility function that exhibits risk-loving behavior for small gambles and risk-averse behavior for larger gambles?

5. Why might a neighborhood group have a harder time self insuring for flood damage versus fire damage?

6. A good can be produced in a competitive industry at a cost of $10 per unit. There are 100 consumers are each willing to pay $12 each to consume a single unit of the good (additional units have no value to them.) what is the equilibrium price and quantity sold? The government imposes a tax of $1 on the good. What is the deadweight loss of this tax?

7. Suppose that the demand curve is given by D(p)=10-p. What is the gross benefit from consuming 6 units of the good?

8. In the above example, if the price changes from 4 to 6, what is the change in consumer's surplus?

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Lecture 8¡¡Market equilibrium

1. If the market demand curve is D(p)=100-0.5p, what is the inverse demand curve?

2. If D(p)=12-2p, what price will maximize revenue?

3. Suppose that the demand curve for a good is given by D(p)=100/p. What price will maximize revenue?

4. True or false? In a two good model if one good is an inferior good the other good must be a luxury good.

5. What is the effect of a subsidy in a market with a horizontal supply curve? With a vertical supply curve?

6. Suppose that the demand curve is vertical while the supply curve slopes upward. If a tax is imposed in this market, who ends up paying it?7. Consider the tax treatment of borrowing and lending described in the text. How much revenue does this tax system raise if borrowers and lenders are in the same tax bracket?

8. Does such a tax system raise a positive or negative amount of revenue when tl·µ»Ø¶¥²¿

Lecture 9¡¡Technology and the framework of producer theory

1. Consider the production function f(x1,x2)=(x1*x2)^

2. Dose this exhibit constant, increasing, or decreasing returns to scale?

2. Consider the production function f(x1,x2)=4*(x1^(1/2))*(x2^(1/3)). Dose this exhibit constant, increasing, or decreasing return to scale?

3. True of false? If the law of diminishing marginal product did not hold. The world's food supply could be grown in a flowerpot.

4. In a production process is it possible to have decreasing marginal product in an input and yet increasing returns to scale?

5. In the short run, if the price of the fixed factor is increased, what will happen to profits?

6. A gardener exclaims: ¡°for only $1 in seeds I've grown over $20 in produce.¡± Besides the fact that most of the produce is in the form of zucchini, what other observations would a cynical economist make about this situation?

7. Is maximizing a firm's profits always identical to maximizing the firm's stock market value?

8. A profit-maximizing competitive firm that is making positive profits in long-run equilibrium (may/may not) have a technology with constant returns to scale?

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Lecture 10¡¡Cost function and the industry

1. Prove that a profit ¨Cmaximizing firm will always minimize costs.

2. Suppose that a cost-minimizing firm uses two inputs that are perfect substitutes. If the two inputs are priced the same, what do the conditional factor demands look like for the inputs?

3. A firm produces identical outputs at two different plants, if the marginal cost at the first plant exceeds the marginal cost at the second plant, how can the firm reduce costs and maintain the same level of output?

4. True or false? In the long run a firm always operates at the minimum level of average costs for the optimally sized plant to produce a given amount of output.

5. A firm has a supply function given by S(p)=4p. Its fixed costs are 100. If the price changes from 10 to 20, what is the change in its profits?

6. If the long-run cost function is c(y)=y^2+1, what is the ling-run supply curve of the firm?

7. What is the major assumption that characterizes a purely competitive market?

8. is it ever better for a perfectly competitive firm to produce output even though it is losing money? If so, when?

9. If S1(p)=p-10 and S2(p)=p-15, then at what price does the industry supply curve have a kink in it?

10. In the short run the demand for cigarettes is totally inelastic. In the long run, suppose that it is perfectly elastic, what is the impact of a cigarette tax on the price that consumers pay in the short run and in the long run?

11. True or false? In long ¨Crun industry equilibrium no firm will be losing money.

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