中級微觀經濟學習題及答案_第1頁
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1、1ANSWERS1TheMarket1.Supposethattherewere25peoplewhohadareservationpriceof$500the26thpersonhadareservationpriceof$200.Whatwouldthedemcurvelooklike1.1.Itwouldbeconstantat$500f25apartmentsthento$200.2.Intheaboveexamplewhatw

2、ouldtheequilibriumpricebeiftherewere24apartmentstorentWhatiftherewere26apartmentstorentWhatiftherewere25apartmentstorent1.2.Inthefirstcase$500inthesecondcase$200.Inthethirdcasetheequilibriumpricewouldbeanypricebetween$20

3、0$500.3.Ifpeoplehavedifferentreservationpriceswhydoesthemarketdemcurveslopedown1.3.Becauseifwewanttorentonemeapartmentwehavetoofferalowerprice.Thenumberofpeoplewhohavereservationpricesgreaterthanpmustalwaysincreaseaspdec

4、reases.4.Inthetextweassumedthatthecondominiumpurchaserscamefromtheinnerringpeople—peoplewhowerealreadyrenting3wouldbear.ThiswouldbegivenbythesolutiontoD(p)=100?2p=40whichisp?=30.8.Ifourmodelofrentcontrolallowedfunrestric

5、tedsublettingwhowouldendupgettingapartmentsintheinnercircleWouldtheoutcomebeParetoefficient1.8.EveryonewhohadareservationpricehigherthantheequilibriumpriceinthecompetitivemarketsothatthefinaloutcomewouldbeParetoefficient

6、.(Ofcourseinthelongruntherewouldprobablybefewernewapartmentsbuiltwhichwouldleadtoanotherkindofinefficiency.)2BudgetConstraint1.iginallytheconsumerfacesthebudgetlinep1x1p2x2=m.Thenthepriceofgood1doublesthepriceofgood2beco

7、mes8timeslargerincomebecomes4timeslarger.Writedownanequationfthenewbudgetlineintermsoftheiginalpricesincome.2.1.Thenewbudgetlineisgivenby2p1x18p2x2=4m.2.Whathappenstothebudgetlineifthepriceofgood2increasesbutthepriceofgo

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