经济学原理微观第五版测试题库解析

1、Chapter7Consumers,Producers,andtheEfficiencyofMarketsTRUE/FALSEWelfareeconomicsisthestudyofthewelfaresystem.ANS:FDIF:1REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:WelfareMSC:DefinitionalThewillingnesstopayisthemaximumamountthatabuyerwillpayforagoodandmeasureshowmuchthebuyervaluesthegood.ANS:TDIF:1REF:7

2、-1NAT:AnalyticLOC:SupplyanddemandTOP:WillingnesstopayMSC:DefinitionalForanygivenquantity,thepriceonademandcurverepresentsthemarginalbuyerswillingnesstopay.ANS:TDIF:2REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:WillingnesstopayMSC:InterpretiveAbuyeriswillingtobuyaproductatapricegreaterthanorequaltohiswi

3、llingnesstopay,butwouldrefusetobuyaproductatapricelessthanhiswillingnesstopay.ANS:FDIF:1REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:WillingnesstopayMSC:DefinitionalConsumersurplusistheamountabuyeractuallyhastopayforagoodminustheamountthebuyeriswillingtopayforit.ANS:FDIF:1REF:7-1NAT:AnalyticLOC:Supplya

4、nddemandTOP:ConsumersurplusMSC:DefinitionalConsumersurplusistheamountabuyeriswillingtopayforagoodminustheamountthebuyeractuallyhastopayforit.ANS:TDIF:1REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:DefinitionalConsumersurplusmeasuresthebenefittobuyersofparticipatinginamarket.ANS:TDIF:1

5、REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:InterpretiveConsumersurpluscanbemeasuredastheareabetweenthedemandcurveandtheequilibriumprice.ANS:TDIF:1REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:InterpretiveConsumersurpluscanbemeasuredastheareabetweenthedemandcurveandth

6、esupplycurve.ANS:FDIF:1REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:InterpretiveJoelhasa1966Mustang,whichhesellstoSusie,anavidcarcollector.Susieispleasedsinceshepaid$8,000forthecarbutwouldhavebeenwillingtopay$11,000forthecar.Susiesconsumersurplusis$2,000.IfDarbyvaluesasoccerballat$50

7、,andshepays$40forit,herconsumersurplusis$10.ANS:TDIF:1REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:ApplicativeIfDarbyvaluesasoccerballat$50,andshepays$40forit,herconsumersurplusis$90.ANS:FDIF:1REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:ApplicativeAllelseequal,anincr

8、easeinsupplywillcauseanincreaseinconsumersurplus.ANS:TDIF:2REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:ApplicativeSupposethereisanincreaseinsupplythatreducesmarketprice.Consumersurplusincreasesbecause(1)consumersurplusreceivedbyexistingbuyersincreasesand(2)newbuyersenterthemarket.AN

9、S:TDIF:2REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:InterpretiveIfthegovernmentimposesabindingpricefloorinamarket,thentheconsumersurplusinthatmarketwillincrease.ANS:FDIF:2REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:ApplicativeIfthegovernmentimposesabindingpricefloor

10、inamarket,thentheconsumersurplusinthatmarketwilldecrease.ANS:TDIF:2REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:ApplicativeEachsellerofaproductiswillingtosellaslongasthepriceheorshecanreceiveisgreaterthantheopportunitycostofproducingtheproduct.ANS:TDIF:1REF:7-2NAT:AnalyticLOC:Supplya

11、nddemandTOP:OpportunitycostMSC:InterpretiveAtanyquantity,thepricegivenbythesupplycurveshowsthecostofthelowest-costseller.ANS:FDIF:2REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:OpportunitycostMSC:InterpretiveInacompetitivemarket,salesgotothoseproducerswhoarewillingtosupplytheproductatthelowestprice.ANS:

12、TDIF:1REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:EfficiencyMSC:InterpretiveProducersurplusistheamountasellerispaidminusthecostofproduction.ANS:TDIF:1REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:DefinitionalProducersurplusisthecostofproductionminustheamountasellerispaid.Allelseequal,an

13、increaseindemandwillcauseanincreaseinproducersurplus.ANS:TDIF:2REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:ApplicativeAllelseequal,adecreaseindemandwillcauseanincreaseinproducersurplus.ANS:FDIF:2REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:ApplicativeIfproducingasocc

14、erballcostsJake$5,andhesellsitfor$40,hisproducersurplusis$45.ANS:FDIF:1REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:ApplicativeIfproducingasoccerballcostsJake$5,andhesellsitfor$40,hisproducersurplusis$35.ANS:TDIF:1REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:Applicati

15、veConniecancleanwindowsinlargeofficebuildingsatacostof$1perwindow.Themarketpriceforwindow-cleaningservicesis$3perwindow.IfConniecleans100windows,herproducersurplusis$100.ANS:FDIF:2REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:ApplicativeConniecancleanwindowsinlargeofficebuildingsataco

16、stof$1perwindow.Themarketpriceforwindow-cleaningservicesis$3perwindow.IfConniecleans100windows,herproducersurplusis$200.ANS:TDIF:2REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:ApplicativeTheareabelowthepriceandabovethesupplycurvemeasurestheproducersurplusinamarket.ANS:TDIF:2REF:7-2NAT

17、:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:InterpretiveTheareabelowthedemandcurveandabovethesupplycurvemeasurestheproducersurplusinamarket.ANS:FDIF:2REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:InterpretiveIfthegovernmentimposesabindingpriceceilinginamarket,thentheproducersur

18、plusinthatmarketwillincrease.ANS:FDIF:2REF:7-2NAT:AnalyticLOC:SupplyanddemandTOP:ProducersurplusMSC:ApplicativeWhendemandincreasessothatmarketpriceincreases,producersurplusincreasesbecause(1)producersurplusreceivedbyexistingsellersincreases,and(2)newsellersenterthemarket.ANS:TDIF:2REF:7-2NAT:Analyti

19、cLOC:SupplyanddemandTOP:ProducersurplusMSC:InterpretiveTotalsurplusinamarketisconsumersurplusminusproducersurplus.Totalsurplus=Valuetobuyers-Coststosellers.ANS:TDIF:2REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:TotalsurplusMSC:InterpretiveTotalsurplusinamarketcanbemeasuredastheareabelowthesupplycurvepl

20、ustheareaabovethedemandcurve,uptothepointofequilibrium.ANS:FDIF:2REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:TotalsurplusMSC:InterpretiveProducingasoccerballcostsJake$5.HesellsittoDarbyfor$35.Darbyvaluesthesoccerballat$50.Forthistransaction,thetotalsurplusinthemarketis$40.ANS:FDIF:2REF:7-3NAT:Analytic

21、LOC:SupplyanddemandTOP:TotalsurplusMSC:ApplicativeTheequilibriumofsupplyanddemandinamarketmaximizesthetotalbenefitstobuyersandsellersofparticipatinginthatmarket.ANS:TDIF:2REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:EfficiencyMSC:InterpretiveEfficiencyreferstowhetheramarketoutcomeisfair,whileequalityre

22、ferstowhetherthemaximumamountofoutputwasproducedfromagivennumberofinputs.ANS:FDIF:1REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:Efficiency|EqualityMSC:DefinitionalEfficiencyisrelatedtothesizeoftheeconomicpie,whereasequalityisrelatedtohowthepiegetsslicedanddistributed.ANS:TDIF:1REF:7-3NAT:AnalyticLOC:Su

23、pplyanddemandTOP:Efficiency|EqualityMSC:DefinitionalFreemarketsallocate(a)thesupplyofgoodstothebuyerswhovaluethemmosthighlyand(b)thedemandforgoodstothesellerswhocanproducethematleastcost.ANS:TDIF:2REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:EfficiencyMSC:InterpretiveEconomistsgenerallybelievethat,alth

24、oughtheremaybeadvantagestosocietyfromticket-scalping,thecoststosocietyofthisactivityoutweighthebenefits.ANS:FDIF:2REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:EfficiencyMSC:InterpretiveEconomistsarguethatrestrictionsagainstticketscalpingactuallydriveupthecostofmanytickets.ANS:TDIF:2REF:7-3NAT:AnalyticL

25、OC:SupplyanddemandTOP:EfficiencyMSC:InterpretiveIftheUnitedStateslegallyallowedforamarketintransplantorgans,itisestimatedthatonekidneywouldsellforatleast$100,000.ANS:FDIF:2REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:Efficiency|EqualityMSC:InterpretiveEventhoughparticipantsintheeconomyaremotivatedbysel

26、f-interest,theinvisiblehandofthemarketplaceguidesthisself-interestintopromotinggeneraleconomicwell-being.44.Thecurrentpolicyonkidneydonationeffectivelysetsapriceceilingofzero.ANS:TDIF:2REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:EfficiencyMSC:Interpretive45.ANS:Unlessmarketsareperfectlycompetitive,the

27、ymayfailtomaximizethetotalbenefitstobuyersandsellers.TDIF:2REF:7-4NAT:AnalyticLOC:SupplyanddemandTOP:EfficiencyMSC:Interpretive46.ANS:Inordertoconcludethatmarketsareefficient,weassumethattheyareperfectlycompetitive.TDIF:2REF:7-4NAT:AnalyticLOC:SupplyanddemandTOP:EfficiencyMSC:Applicative47.ANS:Marke

28、tswillalwaysallocateresourcesefficiently.FDIF:2REF:7-4NAT:AnalyticLOC:SupplyanddemandTOP:EfficiencyMSC:Applicative48.Whenmarketsfail,publicpolicycanpotentiallyremedytheproblemandincreaseeconomicefficiency.ANS:TDIF:2REF:7-4NAT:AnalyticLOC:SupplyanddemandTOP:MarketfailureMSC:Interpretive49.ANS:Marketp

29、owerandexternalitiesareexamplesofmarketfailures.TDIF:2REF:7-4NAT:AnalyticLOC:SupplyanddemandTOP:MarketfailureMSC:InterpretiveSHORTANSWERAnswereachofthefollowingquestionsaboutdemandandconsumersurplus.Whatisconsumersurplus,andhowisitmeasured?Whatistherelationshipbetweenthedemandcurveandthewillingnesst

30、opay?Otherthingsequal,whathappenstoconsumersurplusifthepriceofagoodfalls?Why?Illustrateusingademandcurve.Inwhatwaydoesthedemandcurverepresentthebenefitconsumersreceivefromparticipatinginamarket?Inadditiontothedemandcurve,whatelsemustbeconsideredtodetermineconsumersurplus?ANS:Consumersurplusmeasurest

31、hebenefittobuyersofparticipatinginamarket.Itismeasuredastheamountabuyeriswillingtopayforagoodminustheamountabuyeractuallypaysforit.Foranindividualpurchase,consumersurplusisthedifferencebetweenthewillingnesstopay,asshownonthedemandcurve,andthemarketprice.Forthemarket,totalconsumersurplusistheareaunde

32、rthedemandcurveandabovetheprice,fromtheorigintothequantitypurchased.Becausethedemandcurveshowsthemaximumamountbuyersarewillingtopayforagivenmarketquantity,thepricegivenbythedemandcurverepresentsthewillingnesstopayofthemarginalbuyer.Whenthepriceofagoodfalls,consumersurplusincreasesfortworeasons.First

33、,thosebuyerswhowerealreadybuyingthegoodreceiveanincreaseinconsumersurplusbecausetheyarepayingless(areaB).Second,somenewbuyersenterthemarketbecausethepriceofthegoodisnowlowerthantheirwillingnesstopay(areaC);hence,thereisadditionalconsumersurplusgeneratedfromtheirpurchases.Thegraphshouldshowthataspric

34、efallsfromP2toP1,consumersurplusincreasesfromareaAtoareaA+B+C.Sincethedemandcurverepresentsthemaximumpricethemarginalbuyeriswillingtopayforagood,itmustalsorepresentthemaximumbenefitthebuyerexpectstoreceivefromconsumingthegood.Consumersurplusmusttakeintoaccounttheamountthebuyeractuallypaysforthegood,

35、withconsumersurplusmeasuredasthedifferencebetweenwhatthebuyeriswillingtopayandwhathe/sheactuallypaid.Consumersurplus,then,measuresthebenefitthebuyerdidnthavetopayfor.DIF: 2REF: 7-1TOP: Consumer surplusNAT:AnalyticLOC:SupplyanddemandMSC:InterpretiveTammylovesdonuts.ThetableshownreflectsthevalueTammyp

36、lacesoneachdonutsheeats:Valueoffirstdonut$0.60Valueofseconddonut$0.50Valueofthirddonut$0.40Valueoffourthdonut$0.30Valueoffifthdonut$0.20Valueofsixthdonut$0.10UsethisinformationtoconstructTammysdemandcurvefordonuts.Ifthepriceofdonutsis$0.20,howmanydonutswillTammybuy?ShowTammysconsumersurplusonyourgra

37、ph.Howmuchconsumersurpluswouldshehaveatapriceof$0.20?Ifthepriceofdonutsroseto$0.40,howmanydonutswouldshepurchasenow?WhatwouldhappentoTammysconsumersurplus?Showthischangeonyourgraph.ANS:a.个 Price1 -0.9-0.8-，0.4-DemandI_II_III-+II-H12345678Quantityb.c.Atapriceof$0.20,Tammywouldbuy5d

38、onuts.ThefigurebelowshowsTammysconsumersurplus.Atapriceof$0.20,Tammysconsumersurpluswouldbe$1.00.个Price0.9 -0.1 m.i0.30.1 0.1 0.1 mbijijgj| taj |g 0.1 0.1 -J?0.111123DemandI1-+_I1H45678 Quantityd.Ifthepriceofdonutsroseto$0.40,Tammysconsumersurpluswouldfallto$0.30andshewo

39、uldpurchaseonly3donuts.DIF:2REF:7-1NAT:AnalyticLOC:SupplyanddemandTOP:ConsumersurplusMSC:ApplicativeAnswereachofthefollowingquestionsaboutsupplyandproducersurplus.Whatisproducersurplus,andhowisitmeasured?Whatistherelationshipbetweenthecosttosellersandthesupplycurve?Otherthingsequal,whathappenstoprod

40、ucersurpluswhenthepriceofagoodrises?Illustrateyouransweronasupplycurve.ANS:Producersurplusmeasuresthebenefittosellersofparticipatinginamarket.Itismeasuredastheamountasellerispaidminusthecostofproduction.Foranindividualsale,producersurplusismeasuredasthedifferencebetweenthemarketpriceandthecostofprod

41、uction,asshownonthesupplycurve.Forthemarket,totalproducersurplusismeasuredastheareaabovethesupplycurveandbelowthemarketprice,betweentheoriginandthequantitysold.Becausethesupplycurveshowstheminimumamountsellersarewillingtoacceptforagivenquantity,thesupplycurverepresentsthecostofthemarginalseller.When

42、thepriceofagoodrises,producersurplusincreasesfortworeasons.First,thosesellerswhowerealreadysellingthegoodhaveanincreaseinproducersurplusbecausethepricetheyreceiveishigher(areaA).Second,newsellerswillenterthemarketbecausethepriceofthegoodisnowhigherthantheirwillingnesstosell(areaB);hence,thereisaddit

43、ionalproducersurplusgeneratedfromtheirsales.ThegraphshouldshowthataspricerisesfromP1toP2,producersurplusincreasesfromareaCtoareaA+B+C.DIF:2REF:7-2TOP:ProducersurplusGiventhefollowingequationstwoequations:TotalSurplus=ConsumerSurplus+ProducerSurplusTotalSurplus=ValuetoBuyers-CosttoSellersShowhowequat

44、ion(1)canbeusedtoderiveequation(2).ANS:Startwiththeequation:TotalSurplus=ConsumerSurplus+ProducerSurplus.Then,sinceConsumerSurplus=Valuetobuyers-Amountpaidbybuyers,andsinceProducerSurplus=Amountreceivedbysellers-Costsofsellers,thenTotalSurpluscanbewrittenas:Valuetobuyers-Amountpaidbybuyers+Amountrec

45、eivedbysellers-Costsofsellers.SincetheAmountpaidbybuyersequalstheAmountreceivedbysellers,themiddletwotermscanceloutandtheresultis:TotalSurplus=Valuetobuyers-Costsofsellers.DIF:2REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:TotalsurplusMSC:AnalyticalAnswerthefollowingquestionsbasedonthegraphthatrepresent

46、sJ.R.sdemandforribsperweekofribsatJudysribshack.Attheequilibriumprice,howmanyribswouldJ.R.bewillingtopurchase?HowmuchisJ.R.willingtopayfor20ribs?WhatisthemagnitudeofJ.R.sconsumersurplusattheequilibriumprice?Attheequilibriumprice,howmanyribswouldJudybewillingtosell?HowhighmustthepriceofribsbeforJudyt

47、osupply20ribstothemarket?Attheequilibriumprice,whatisthemagnitudeoftotalsurplusinthemarket?Ifthepriceofribsroseto$10,whatwouldhappentoJ.R.sconsumersurplus?Ifthepriceofribsfellto$5,whatwouldhappentoJudysproducersurplus?Explainwhythegraphthatisshownverifiesthefactthatthemarketequilibrium(quantity)maxi

48、mizesthesumofproducerandconsumersurplus.ANS:40$10.00$80.00.40$5$200Itwouldfallfrom$80toonly$20.Itwouldfallfrom$120toonly$30.Atquantitieslessthantheequilibriumquantity,themarginalvaluetobuyersexceedsthemarginalcosttosellers.Increasingthequantityinthisregionraisestotalsurplusuntilequilibriumquantityis

49、reached.Atquantitiesgreaterthantheequilibriumquantity,themarginalcosttosellersexceedsthemarginalvaluetobuyersandtotalsurplusfalls.DIF:3REF:7-3NAT:AnalyticLOC:SupplyanddemandTOP:Consumersurplus|Producersurplus|TotalsurplusMSC:AnalyticalSec00-Consumers,Producers,andtheEfficiencyofMarketsMULTIPLECHOICE

50、Welfareeconomicsisthestudyofhowtheallocationofresourcesaffectseconomicwell-being.apriceceilingcomparestoapricefloor.thegovernmenthelpspoorpeople.aconsumersoptimalchoiceaffectshdemandcurve.Wer

51、nmentwelfareprogramsforneedypeople.howtheallocationofresourcesaffectseconomicwell-being.ANS:DDIF:1REF:7-0NAT:AnalyticLOC:SupplyanddemandTOP:WelfareMSC:DefinitionalWelfareeconomicsisthestudyofthewell-beingoflessfortunatepeople.welfareprogramsintheUnitedStates.howtheallocationofresourcesaffectseconomi

52、cwell-being.theeffectofincomeredistributiononworkeffort.ANS:CDIF:1REF:7-0NAT:AnalyticLOC:SupplyanddemandTOP:WelfareMSC:DefinitionalThestudyofhowtheallocationofresourcesaffectseconomicwell-beingiscalleda.consumereconomics.macroeconomics.willingness-to-payeconomics.welfareeconomics.ANS: DDIF: 1REF: 7-

53、0NAT: Analytic LOC: Supply and demandMSC: DefinitionalAn example of positive analysis is studyinghow market forces produce equilibrium.whether equilibrium outcomes are fair.whether equilibrium outcomes are socially desirable.if income distributions are fair.ANS: ADIF: 1REF: 7-0NAT: Analytic LOC: Sup

54、ply and demand MSC: DefinitionalAn example of normative analysis is studyinghow market forces produce equilibrium.surpluses and shortages.whether equilibrium outcomes are socially desirable.income distributions.ANS: CDIF: 1REF: 7-0NAT: Analytic LOC: Supply and demandMSC: DefinitionalTOP: WelfareTOP:

55、 Positive statementsTOP: Normative statementsANS: BNAT: AnalyticMSC: InterpretiveWhichoftheTenPrinciplesofEconomicsdoeswelfareeconomicsexplainmorefully?Thecostofsomethingiswhatyougiveuptogetit.Marketsareusuallyagoodwaytoorganizeeconomicactivity.Tradecanmakeeveryonebetteroff.Acountrysstandardofliving

56、dependsonitsabilitytoproducegoodsadservices.DIF:2REF:7-0TOP: WelfareLOC:SupplyanddemandWhichoftheTenPrinciplesofEconomicsdoeswelfareeconomicsexplainmorefully?Thecostofsomethingiswhatyougiveuptogetit.Rationalpeoplethinkatthemargin.Marketsareusuallyagoodwaytoorganizeeconomicactivity.Peoplerespondtoinc

57、entives.ANS:CDIF:2REF:7-0NAT:AnalyticLOC:SupplyanddemandTOP:WelfareMSC:InterpretiveOneofthebasicprinciplesofeconomicsisthatmarketsareusuallyagoodwaytoorganizeeconomicactivity.Thisprincipleisexplainedbythestudyofa.factormarkets.energymarkets.welfareeconomics.laboreconomics.ANS:CDIF:1REF:7-0NAT:Analyt

58、icLOC:SupplyanddemandTOP:WelfareMSC:InterpretiveAresultofwelfareeconomicsisthattheequilibriumpriceofaproductisconsideredtobethebestpricebecauseitmaximizesboththetotalrevenueforfirmsandthequantitysuppliedoftheproduct.maximizesthecombinedwelfareofbuyersandsellers.minimizescostsandmaximizesoutput.minim

59、izesthelevelofwelfarepayments.ANS:BDIF:2REF:7-0NAT:AnalyticLOC:SupplyanddemandTOP:WelfareMSC:InterpretiveTheparticularpricethatresultsinquantitysuppliedbeingequaltoquantitydemandedisthebestpricebecauseitmaximizescostsoftheseller.maximizestaxrevenueforthegovernment.maximizesthecombinedwelfareofbuyers

60、andsellers.minimizestheexpenditureofbuyers.ANS:CDIF:2REF:7-0NAT:AnalyticLOC:SupplyanddemandTOP:WelfareMSC:InterpretiveWelfareeconomicsexplainswhichofthefollowinginthemarketforDVDs?ThegovernmentsetsthepriceofDVDs;firmsrespondtothepricebyproducingaspecificlevelofoutput.ThegovernmentsetsthequantityofDV