资料 练习题 真题 2013考研搜集 专业课 尼科尔森微观基本原理与扩展全套资料 尼克尔森微观经济理论-基本原理与扩展 第九版答案 ch10

Chapter 10/The Partial Equilibrium Competitive Modelv 49CHAPTER 10THE PARTIAL EQUILIBRIUM COMPETITIVE MODELThe problems in this chapter focus on competitive supply behavior in both the short and long runs. For short-run analysis, students are usually asked to construct the industry supply curve (by summing firms marginal cost curves) and then to describe the resulting market equilibrium. The long-run problems (10.5 10.8), on the other hand, make extensive use of the equilibrium condition P = MC = AC to derive results. In most cases, students are asked to graph their solutions because, I believe, such graphs provide considerable intuition about what is going on.Comments on Problems10.1This problem asks students to constructs a marginal cost function from a cubic cost function and then use this to derive a supply curve and a supply-demand equilibrium. The math is rather easy so this is a good starting problem.10.2A problem that illustrates “interaction effects.” As industry output expands, the wage for diamond cutters rises, thereby raising costs for all firms.10.3This is a simple, though at times tedious, problem that shows that any one firms output decision has very little effect on market price. That is shown to be especially true when other firms exhibit an elastic supply response in reaction to any price changes induced by any one firm altering its output. That is, any one firms effect on price is moderated by the induced effect on other firms.10.4This is a tax-incidence problem. It shows that the less elastic the supply curve, the greater the share of tax paid this is paid by firms (for a given demand curve). Issues of tax incidence are discussed in much greater detail in Chapter 11.10.5This is a simple problem that uses only long-run analysis. Once students recognize that the equilibrium price will always be $3.00 per bushel and the typical firm always produces 1,000 bushels, the calculations are trivial.10.6A problem that is similar to 10.5, but now introduces the short-run supply curve to examine differences in supply response over the short and long runs.10.7This problem introduces the concept of increasing input costs into long-sun analysis by assuming that entrepreneurial wages are bid up as the industry expands. Solving part (b) can be a bit tricky; perhaps an educated guess is the best way to proceed.10.8This exercise looks at an increase in cost that also shifts the low point of the typical firms AC curve. Here the increase in cost reduces optimal firm size and has the seemingly odd effect of a cost increase leading to a fall in quantity demanded but an increase in the number of firms.Solutions10.1a.Short run: P = MC P = .01q2 + .4q + 4 100P = q2 + 40q + 400 = (q + 20)2 = 100P, b.Industry: c.Demand: set demand = supply For each firm q = 30, C = 400, AC = 13.3, = 351. 10.2C = q2 + wq a. w = 10 C = q2 + 10qMC = 2q + 10 = P Industry at 20, Q = 5000; at 21, Q = 5500 b.Here, MC = 2q + .002Q for profit maximum, set = P Total P = 20, Q = 5000 Supply is more steeply sloped in this case where expanded output bids up wages. P = 21, Q = 5250 10.3a.Very short run, QS = (100)(1000) = 100,000. Since there can be no supply response, this Q must be sold for whatever the market will bear: 160,000 10,000P = 100,000. P* = 6 b.For any one firm, quantity supplied by other firms is fixed at 99,900. Demand curve facing firm is q = 160,000 10,000P 99,900 = 60,100 10,000P.c.If quantity supplied by the firm is zero, qS = 0 = qD = 60,100 10,000P. P* = 6.01 If quantity supplied by the firm is 200, qS = 200 = qD = 60,100 10,000P P* = 5.99 d.eQ,P = For single firm: eq,P = Demand facing the single firm is “close to” infinitely elastic. Now redo these parts with short-run supply of qi = 200 + 50P a.QS = 1000qi = 200,000 + 50,000P Set supply = demand: Resulting equilibrium price is P* = 6 b.For any one firm, find net demand by subtracting supply by other 999 firms. qD = 160,000 10,000P ( 199,800 + 49,950P) = 359,800 59,950P c.If If d.Elasticity of the industry demand curve remains the same. Demand curve facing the firm is even more elastic than in the fixed supply case: 10.4a.QD = 100 2P QS = 20 + 6P At equilibrium, QD = QS. 100 2P = 20 + 6P P* = $10, Q* = 80 b.Demanders and suppliers are now faced with different prices PS = PD 4. Each will make decisions on quantity based on the price that it is faced with: QD = 100 2PD QS = 20 + 6PS = 20 + 6(PD 4).The new equilibrium: 100 2PD = 20 + 6PD 24 8PD = 104, PD = $13PS = $9, Q = 74 The burden of the tax is shared: demanders pay $3 more for each frisbee while suppliers receive $1 less on each sale. c.QS = 70 + PAt equilibrium, QD = QS.100 2P = 70 + P, P* = $10, Q* = 80 After tax: QD = 100 2PD QS = 70 + PS = 70 + PS 4 100 2PD = 70 + PD 4 3PD = 34, PD = 11.3, PS = 7.3, Q = 77.3 While burden is still shared, in this case suppliers pay relatively more of the tax. 10.5a.QD = 2,600,000 200,000P In the long run, P = $3, so QS = QD = 2,600,000 200,000(3) = 2,000,000.Since QS = 2,000,000 bushels, there are b.QS = QD = 3,200,000 200,000P In the short run, QS = 2,000,000, so 2,000,000 = 3,200,000 200,000P1,200,000 = 200,000P P = $6/bushel c.P = $3/bushel in the long run. QS = QD = 3,200,000 200,000(3) = 2,600,000 bushelsThere will be d. 10.6a.LR supply curve is horizontal at P* = MC = AC = 10. b.Q* = 1500 50P* = 1000. Each firm produces q* = 20, = 0. There are 50 firms. c.MC = q 10, AC = .5q 10 + 200/q AC = min when AC = MC .5q = 200/q, q = 20. d.P = MC = q 10. q = P + 10, for industry e.Q = 2000 50P if Q = 1000, P = 20. Each firm produces q = 20, = 20(20 10) = 200. f.50P + 500 = 2000 50P P = 15, Q = 1250. Each firm produces q = 25, = 25(15 AC) = 25(15 10.5) = 112.5. g.P* = 10 again, Q = 1500, 75 firms produce 20 each. = 0. 10.7a. Equilibrium in the entrepreneur market requires . Hence .MC = q 10 In long run equilibrium: AC = MC so Total output is given in terms of the number of firms by Now in terms of supply-demand equilibrium, QD = 1500 50P and P = MC = q 10, or q = P + 10. QS = nq = n(P + 10). Have 3 equations in Q, n, P. Since and Q = n(P + 10), we have or n = 50 (= # of entrepreneurs) q = Q/n = 20 P = q 10 = 10 w = 4n = 200. b.Algebra as before, , therefore n = 72 q = Q/n = 24 P = q 10 = 14 w = 4n = 288 c. This curve is upward sloping because as new firms enter the industry the cost curves shift up: as n increases, AC increases. 10.8a.If w = $1, C = q2 10q + 100.MC = 2q 10 AC = q 10 + In the long run equilibrium, AC = MC 2q 10 = q 10 + q2 = 100, q =10 = output for typical mushroom producer. b.Constant costs industry means that as new firms enter this low point of average, total cost remains unchanged, resulting