[开课学院]: 商学院 [开课系所]: 经济系 [课程名称]: 个体经济学（一） [老师名称]: 陈善瑜 老师 [开课学期]: [类型]: 98-1期中考 1.(36%)Suppose that the demand function for renting a beachfront property in Ocean City,New Jersey,during the first week of August is Qd=450-10P+I/20 ,Where I is the median annual income of the people involved in this market ,Q is quantity,and P is rental price.The supply curve is Qs=20P+I/40 (a)Derive the equilibrium price P* and　Q* quantity, in terms of I. (b)Find dP*/dI and dQ*/dI (c)If I=1200,calculate the equilibrium price and quantity. (d)Calculate the price elasticity of demand, the price elasticity of supply and the income elasticity of demand for the equilibrium. 2.(16%)What effect does a $1 specific tax have on equilibrium price and quantity,and what is the incidence on consumers,if (a)the demand curve is perfectly inelastic (b)the supply curve is perfectly elastic 3.(24%)Karl's preference over pizza(q1)and burrito(q2)are described by the utility function:U=q1(平方)q2.His monthly income is Y dollars,and he only buys these two goods out of his income. Denote the price of pizza by P1 and of burrito by P2. (a)Derive Karl's demand function for pizza and for burrito as a function of P1 ,P2 and Y (b)Determine Karl's optimal basket given P1=$2,P2=$8 and her income I=240 (c)Derive Karl's demand function for pizza if P1=$2 ,P2=$8 and her income I=240 (d)Derive Karl's Engel function for pizza if P1=$2 and P2=$8 4.(24%)Susan considers chocolate and ice cream to be perfect subsititutes.The price of chocolate Pc is less than that of ice cream Pi. (a)Show her indifference curve map. (b)What is her utility function. (c)What is Susan's optimal bundle?Show your answer by the diagram of indifference curves and budget constraints (d)What happens to Susan's optimal choice if all prices and her income double? (e)What does Susan's Engel curve look like? Show your answer by a diagram. (f)What is Susan's optimal bundle, given Pc=$4, Pi=$5 and her income I=200? 附加连结: (图片请尽量以BBS作图呈现,或简单说明,当然亦可提供相关连结) --

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