中级微观经济学模拟试题(10) 一、True or false.(2 points:*10) 1.With quasilinear preferences,the slope of indifference curves is constant along all rays through the origin. 2.If a good is an inferior good,then an increase in its price will increase the demand for it. 3.If a person has no non-labor income,a decrease in wages causes the budget line between leisure and other goods to shift downward in a parallel fashion. 4.If leisure is an inferior good,then an increase in the wage rate will make a person work more. 5.If the amount of money that people are willing to spend on a good stays the same when its price doubles,then demand for that good must have a price elasticity of demand smaller in absolute value than one. 6.If the supply curve is vertical,then the amount supplied is independent of price. 7.It is possible to have decreasing marginal products for all inputs,and yet have increasing returns to scale. 8.If a profit-maximizing competitive firm has constant returns to scale,then its long run profits must be zero. 9.A discriminating monopolist is able to charge different prices in two different markets.If when the same price is charged in both markets,the quantity demanded in market 1 is always greater than the quantity demanded in market 2,then in order to maximize profits,the monopolist should charge a higher price in market 1 than in market 2. 10.If Melody has more classical records than rock and roll records,she is willing to exchange exactly 1 classical record for 2 rock and roll records,but if she has more rock and roll records than classical records,then she is willing to exchange exactly 1 rock and roll record for 2 classical records.Melody has convex preferences
中级微观经济学模拟试题（10） 一、True or false. （2points*10） 1.With quasilinear preferences, the slope of indifference curves is constant along all rays through the origin. 2.If a good is an inferior good, then an increase in its price will increase the demand for it. 3.If a person has no non-labor income, a decrease in wages causes the budget line between leisure and other goods to shift downward in a parallel fashion. 4.If leisure is an inferior good, then an increase in the wage rate will make a person work more. 5.If the amount of money that people are willing to spend on a good stays the same when its price doubles, then demand for that good must have a price elasticity of demand smaller in absolute value than one. 6.If the supply curve is vertical, then the amount supplied is independent of price. 7.It is possible to have decreasing marginal products for all inputs, and yet have increasing returns to scale. 8.If a profit-maximizing competitive firm has constant returns to scale, then its long run profits must be zero. 9.A discriminating monopolist is able to charge different prices in two different markets. If when the same price is charged in both markets, the quantity demanded in market 1 is always greater than the quantity demanded in market 2, then in order to maximize profits, the monopolist should charge a higher price in market 1 than in market 2. 10.If Melody has more classical records than rock and roll records, she is willing to exchange exactly 1 classical record for 2 rock and roll records, but if she has more rock and roll records than classical records, then she is willing to exchange exactly 1 rock and roll record for 2 classical records. Melody has convex preferences
Fill in the blanks for the following questions (2points*10): (1)Preferences are said to be monotonic if (2)Pablo insists on consuming 4 times as much y as he consumes of x(so he always has y=4x )He will consume these goods in no other ratio.The price of x is 5 times the price of y.Pablo has an endowment of 15 x's and 60 y's which he can trade at the going prices.He has no other source of income.What is Pablo's gross demand for x? (3)Heidi has income $500 in period 1 and will have income $625 in period 2.Her utility function is U(c,c2)=c2cs where cl is her consumption in period 1 and c2 is her consumption in period 2.The interest rate is 0.25.If she unexpectedly won a lottery which pays its prize in period 2 so that her income in period 2 would be $1,250 and her income in period 1 would remain $500,then her consumption in period 1 would increase by the amount (4)A profit-maximizing competitive firm uses just one input,x.Its production function is g=8x2.The price of output is 16 and the factor price is 8.The amount of the factor that the firm demands is (⑤5)A」 monopoly occurs when a firm gains ownership of the entire stock of some natural resource and thus is able to exclude other producers. 三、Calculation(25 points) 1.For a perfect substitute utility u(x1,x2 )x1+x2,roughly graph and accurately calculate the income effect and substitution effect as relative price pl/p2 changes from 2 to 1/2.(10 points) 2.Suppose a monopoly with a constant MC=30,is facing a market demand D(P)= 2000-50P,Calculate the Deadweight Loss of a monopoly compared to the case of equilibrium,then calculate the Deadweight Loss of a tax t=10 imposed on the firm, compared to the case of the untaxed monopoly.(15 points) IV.Graphing and Analysis (35 points) 1.Graph to show that international trade (or open-door policy)leads an economy to production specialization and to welfare improvement.(10 points)
二、Fill in the blanks for the following questions（2points*10）: (1)Preferences are said to be monotonic if __________________________. (2)Pablo insists on consuming 4 times as much y as he consumes of x (so he always has y = 4x ). He will consume these goods in no other ratio. The price of x is 5 times the price of y. Pablo has an endowment of 15 x’s and 60 y’s which he can trade at the going prices. He has no other source of income. What is Pablo's gross demand for x? __________ (3)Heidi has income $500 in period 1 and will have income $625 in period 2. Her utility function is 0.8 2 0.2 1 2 1 U(c ,c ) = c c where c1 is her consumption in period 1 and c2 is her consumption in period 2. The interest rate is 0.25. If she unexpectedly won a lottery which pays its prize in period 2 so that her income in period 2 would be $1,250 and her income in period 1 would remain $500, then her consumption in period 1 would increase by the amount ____________. (4)A profit-maximizing competitive firm uses just one input, x. Its production function is 2 1 q = 8x . The price of output is 16 and the factor price is 8. The amount of the factor that the firm demands is ______________________. (5)A ________________ monopoly occurs when a firm gains ownership of the entire stock of some natural resource and thus is able to exclude other producers. 三、Calculation (25 points) 1. For a perfect substitute utility u(x1, x2 ) = x1+x2, roughly graph and accurately calculate the income effect and substitution effect as relative price p1/p2 changes from 2 to 1/2. (10 points) 2. Suppose a monopoly with a constant MC=30, is facing a market demand D(P)= 2000-50P, Calculate the Deadweight Loss of a monopoly compared to the case of equilibrium, then calculate the Deadweight Loss of a tax t=10 imposed on the firm, compared to the case of the untaxed monopoly. (15 points) IV. Graphing and Analysis (35 points) 1.Graph to show that international trade (or open-door policy) leads an economy to production specialization and to welfare improvement. (10 points)
2.Graph the equilibrium in an Edgeworth Box with one person as a monopoly.(10 points) 3.Here's the case of John and Joan.John loves football game and is indifferent to ballet,while Joan'd like to go to the latter and is indifferent to football. Both would like to be together with the other. Suppose John's utility to watching football game is +1,at ballet 0,Joan the opposite.Let's suppose,with Joan at his side,John's utility will be +2 at football,and +1 at ballet.And without her,the utility of John's will be subtracted 1 in both cases,that is,0 football,-1 ballet.Joan's utility will revise the circumstance of football and ballet,other things the same. Now please derive all the simultaneous Nash equilibrium of the case.(15 points)
2.Graph the equilibrium in an Edgeworth Box with one person as a monopoly. (10 points) 3.Here’s the case of John and Joan. John loves football game and is indifferent to ballet, while Joan’d like to go to the latter and is indifferent to football. Both would like to be together with the other. Suppose John’s utility to watching football game is +1, at ballet 0, Joan the opposite. Let’s suppose, with Joan at his side, John’s utility will be +2 at football, and +1 at ballet. And without her, the utility of John’s will be subtracted 1 in both cases, that is, 0 football, -1 ballet. Joan’s utility will revise the circumstance of football and ballet, other things the same. Now please derive all the simultaneous Nash equilibrium of the case. (15 points)