海南大学2009-2010学年度第1学期试卷 科目：《微观经济学》试题(A卷) 姓名： 学号： 学院： 专业班级： 成绩登记表（由阅卷教师用红色笔填写） 大题 三 四 六 八 九 总分 得分 阅卷教师： 20年月日 考试说明：本课程为闭卷考试，可携带计算器一。 得分阅卷教师 Please translate the following terms in Chinese:(每题5分，共50分) 1.Arbitrage 2.Monopolistic competition 3.Budget line 4.Diminishing marginal utility
海南大学 2009-2010 学年度第 1 学期试卷 科目：《微观经济学》试题(A 卷) 姓名： 学 号： 学院： 专业班级： 成绩登记表（由阅卷教师用红色笔填写） 大题 号 一 二 三 四 五 六 七 八 九 十 总分 得分 阅卷教师： 20 年 月 日 考试说明：本课程为闭卷考试，可携带 计算器 。 一、 Please translate the following terms in Chinese：（每题 5 分，共 50 分） 1. Arbitrage 2. Monopolistic competition 3. Budget line 4. Diminishing marginal utility 得分 阅卷教师
5.Economic rent 6.Inferior good 7.Sequential game 8.Intertemporal price discrimination 9Welfare effects 10 Zero economic profit 得分阅卷教师 二、简答题：（共10分） 1.Faced with a reputation for producing automobiles with poor repair records,a number of American companies have offered extensive guarantees to ear purchasers(e.g.a seven-year warranty on all parts and labor associated with mechanical problems) a.In light of your knowledge of the lemons market,why is this a reasonable policy? b.Is the policy likely to create a moral hazard problem?Explain
5. Economic rent 6. Inferior good 7. Sequential game 8. Intertemporal price discrimination 9 Welfare effects 10 Zero economic profit 二、简答题：（共 10 分） 1. Faced with a reputation for producing automobiles with poor repair records, a number of American companies have offered extensive guarantees to car purchasers (e.g., a seven-year warranty on all parts and labor associated with mechanical problems). a. In light of your knowledge of the lemons market, why is this a reasonable policy? b. Is the policy likely to create a moral hazard problem? Explain. 得分 阅卷教师
得分阅卷教师 三、Calculation:(每题20分，共40分) 1 Sal's satellite company broadcasts TV to subscribers in Los Angeles and New York.The demand functions for each of these two groups are Qx=60-0.25P Q=100-0.50P where Qis in thousands of subscriptions per year and P is the subscription price per year.The cost of providing Q units of service is given by C=1,000+40Q whereQ=Qsr+QL What are the profit-maximizing prices and quantities for the New York and Los Angeles markets? b. As a consequence of a new satellite that the Pentagon recently deployed, people in Los Angeles receive Sal's New York broadcasts,and people in New York receive Sal's Los Angeles broadeasts.As a result,anyone in New York or Los Angeles can receiv e Sal's broadcasts by subscribing either city.Thus Sal can charge only a single price.What price shou he charge,and what quantities will he sellin New York and Los Angeles? In which of the above situations,(a)or (b),is Sal better off?In terms of consumer surplus,which situation do people in New York prefer and which do people in Los Angeles prefer?Why? 2 A beekeeper lives adjacent to an apple orchard.The orchard owner benefits from the bees because each hive pollinates about one acre of apple trees.The orchard owner pays nothing for this service,however,because the bees come to the orchard without his having to do anything Because there are not enough bees to pollinate the entire orchard,the orchard owner must complete the pollination by artificial means,at a cost of$10per acre oftrees Beekeeping has a marginal cost of MC =10+5Q,where Q is the number of beehives.Each hive yields $40 worth of honey. a.How many beehives will the beekeepermaintain?
三、Calculation：（每题 20 分，共 40 分） 1 Sal’s satellite company broadcasts TV to subscribers in Los Angeles and New York. The demand functions for each of these two groups are QNY = 60 – 0.25PNY QLA = 100 – 0.50PLA where Q is in thousands of subscriptions per year and P is the subscription price per year. The cost of providing Q units of service is given by C = 1,000 + 40Q where Q = QNY + QLA. a. What are the profit-maximizing prices and quantities for the New York and Los Angeles markets? b. As a consequence of a new satellite that the Pentagon recently deployed, people in Los Angeles receive Sal’s New York broadcasts, and people in New York receive Sal’s Los Angeles broadcasts. As a result, anyone in New York or Los Angeles can receive Sal’s broadcasts by subscribing in either city. Thus Sal can charge only a single price. What price should he charge, and what quantities will he sell in New York and Los Angeles? c. In which of the above situations, (a) or (b), is Sal better off? In terms of consumer surplus, which situation do people in New York prefer and which do people in Los Angeles prefer? Why? 2 A beekeeper lives adjacent to an apple orchard. The orchard owner benefits from the bees because each hive pollinates about one acre of apple trees. The orchard owner pays nothing for this service, however, because the bees come to the orchard without his having to do anything. Because there are not enough bees to pollinate the entire orchard, the orchard owner must complete the pollination by artificial means, at a cost of $10 per acre of trees. Beekeeping has a marginal cost of MC = 10 + 5Q, where Q is the number of beehives. Each hive yields $40 worth of honey. a. How many beehives will the beekeeper maintain? 得分 阅卷教师
b.Is this the economically efficient number of hives? c.What changes would lead to the more efficient operation?
b. Is this the economically efficient number of hives? c. What changes would lead to the more efficient operation?