海南大学2006-2007学年度第1学期《微观经济学》答案(4卷) 一、Please ex plain the following terms:(每题5分，共50分) 1 Strategic move Action that gives a player an advantage by constraining his behavior 2 Third-degree price discrimination Practice of dividing consumers into two or more.groups with separate demand curves and charging different prices to each group. 3 Utility possibilities frontier Curve showing all efficient allocations of resources measured in terms of the utility levels of two individuals. 4 Value of complete information Difference between the expectd value of a choice when there is complete information and the expected value when information is incomplete. 5.Transferable emissions permits System of marketable permits,allocated among firms,specifying the maximum level of emissions that can be generated. 6 Substitution effect Cha onsumption of a good associated with a change in its price,with the level of utility held constant 7 Sunk cost Expenditure that has been made and cannot be recovered. 8 Stackelberg mode Oligopoly model in which one firm sets its output before other firms do. 9Shirking mode that iffm pays them a market-clearing wage,because fired workers can be hired somewhere else for the same wage 10 Prospective sunk cost A cost that has not yet been incurred but that cannot be recovered once it is incurred 二、简答题：（共10分） 1.You are in the market for a new house and have deeided to bid for a house a auction.You believe that the value ofthe house is between $125,000 and $150,000. but you are uncertain as to where in the range it might be.You do know,however, that the seller has reserved the right to withdraw the house from the market ifthe winning bid is not satisfactory 海南大学 2006-2007 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 Strategic move Action that gives a player an advantage by constraining his behavior. 2 Third-degree price discrimination Practice of dividing consumers into two or more. groups with separate demand curves and charging different prices to each group. 3 Utility possibilities frontier Curve showing all efficient allocations of resources measured in terms of the utility levels of two individuals. 4 Value of complete information Difference between the expect6d value of a choice when there is complete information and the expected value when information is incomplete. 5．Transferable emissions permits System of marketable permits, allocated among firms, specifying the maximum level of emissions that can be generated. 6 Substitution effect Change in consumption of a good associated with a change in its price, with the level of utility held constant. 7 Sunk cost Expenditure that has been made and cannot be recovered. 8 Stackelberg model Oligopoly model in which one firm sets its output before other firms do. 9 Shirking model Principle that workers still have an incentive to shirk if a firm pays them a market-clearing wage, because fired workers can be hired somewhere else for the same wage. 10 Prospective sunk cost A cost that has not yet been incurred but that cannot be recovered once it is incurred. 二、简答题：（共 10 分） 1. You are in the market for a new house and have decided to bid for a house at auction. You believe that the value of the house is between $125,000 and $150,000, but you are uncertain as to where in the range it might be. You do know, however, that the seller has reserved the right to withdraw the house from the market if the winning bid is not satisfactory