海南大学2007-08学年度第1学期《微观经济学》答案(A卷) 一、Please ex plain the following terms:(每题5分，共50分) 1Zero econm profit Afirm is earning return on its investment-ie,that it is doing as well as it could by investing its money. 2 Welfare economies Normative evaluation of markets and economic policy Welfare effeets Gains and losses caused by government intervention in the market 3 User cost of capital (Page 215)Sum of the annual cost of owning and using a capital asset. equal to economic depreciation plus forgone interest. 4Two-part tariff Form of pricing in which consumers are charged both an entry and a usage fee- 5 Theory of the firm Explanation of how a firm makes cost-minimizing production decisions and hw with its oupu 6Theory of consumer behavior Description of how consumers allocate incomes among different goods and services to maximize their well-being. 7Tit-for-tat strategy Repeated-game strategy in which a player responds in kind to an opponent's previous play,cooperating with cooperative opponents and retaliating against uncooperative ones. 8 Transferable emissions permits Syste em of marketable pemits,allocatod among firms specifying the maximum level of emissions that can be generated 9Rent seeking Spending money in socially unproductive efforts to acquire,maintain,or exercise monopoly power. 10 Reservation price Maximum price that a customer is willing to pay for a good. 二、简答题：（共10分） 1.Medical research has shown the negative health effects of "secondhand"smoke Recent social trends point to growing intolerance of smoking in public areas.If you are a smoker and you wish to continue smoking despite tougher anti smoking laws,describe the effect of the following legislative proposals on your behavior. e programs,do you,the individual smoker,benefit? Does society benefit as a whole? Since smoking in public areas is similar to polluting the air,the programs proposed here are similar to those examined for air pollution.A bill to lower tar and nicotine levels is similar to an emissions standard, and a tax on cigarettes is similar to an 海南大学 2007-08 学年度第 1 学期《微观经济学》答案(A 卷) 一、Please explain the following terms：（每题 5 分，共 50 分） 1 Zero economic profit A firm is earning a normal return on its investment-i.e., that it is doing as well as it could by investing its money elsewhere. 2 Welfare economics Normative evaluation of markets and economic policy Welfare effects Gains and losses caused by government intervention in the market. 3 User cost of capital (Page 215) Sum of the annual cost of owning and using a capital asset, equal to economic depreciation plus forgone interest. 4 Two-part tariff Form of pricing in which consumers are charged both an entry and a usage fee. 5 Theory of the firm Explanation of how a firm makes cost-minimizing production decisions and how its cost varies with its output. 6 Theory of consumer behavior Description of how consumers allocate incomes among different goods and services to maximize their well-being. 7 Tit-for-tat strategy Repeated-game strategy in which a player responds in kind to an opponent’s previous play, cooperating with cooperative opponents and retaliating against uncooperative ones. 8 Transferable emissions permits System of marketable permits, allocat6d among firms, specifying the maximum level of emissions that can be generated. 9 Rent seeking Spending money in socially unproductive efforts to acquire, maintain, or exercise monopo1y power. 10 Reservation price Maximum price that a customer is wi1ling to pay for a good. 二、简答题：（共 10 分） 1. Medical research has shown the negative health effects of “secondhand” smoke. Recent social trends point to growing intolerance of smoking in public areas. If you are a smoker and you wish to continue smoking despite tougher anti smoking laws, describe the effect of the following legislative proposals on your behavior. As a result of these programs, do you, the individual smoker, benefit? Does society benefit as a whole? Since smoking in public areas is similar to polluting the air, the programs proposed here are similar to those examined for air pollution. A bill to lower tar and nicotine levels is similar to an emissions standard, and a tax on cigarettes is similar to an