课程名称︰个体经济学一 课程性质︰必修 课程教师︰黄景沂 开课学院：社科院 开课系所︰经济系 考试日期（年月日）︰2008/11/10 考试时限（分钟）：180 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : You have to provide explanations for all of your answers. 1.In September 2008, several milk products produced in China were found to contain melamine (三聚氰胺) and caused illness of several thousand infants. Let us consider the market for powdered milk. (a) (5%) What is the effect on the demand for the powdered milk produced in other countries, such New Zealand? (b) (5%) What is the effect on the price of powdered milk produced in other countries? 2.Suppose Alice, Bill, Charlie have well-behaved indifference curves. Alice consumes beef 10 KG per month and pork 5 KG per month when the price of beef is $50 per KG and the price of pork is $60 per KG. Bill consumes beef 5 KG per month and pork 8 KG per month when the price of beef is $60 per KG and the price of pork is $40 per KG. Charlie consumes beef 12 KG per month and pork 8 KG per month when the price of beef is $40 per KG and the price of pork is $30 per KG. (a) (5%) Is it possible that Alice has the same indifference curves as Bill? (b) (5%) Is it possible that Bill has the same indifference curves as Charlie? 3.Dean's utility on (X) and (Y) can be expressed as u(x,y)=(x^2)y (a) (10%) Does Dean have well-behaved indifference curves? (b) (10%) How much milk does Dean consume when the price of milk is px=10, the price of juice is py=8, and he plans to spend $120 on these two good? (c) (10%) Now suppose the police does nit allow people to carry X on the road. As a result, whenever you buy X, half of them would be discovered by the police and destroyed, and you can only consume the other half. For example, if you buy two units of X, you can consume only one unit. What are the substitution and income effects on the consumption of X when you no longer have the freedom to carry X on thr road? (Assume the price are the same as in part(b), and Dean still spends $120 on these two good.) Please use Hick's definition to decompose the effects. 4.(10%) Is it possible for a product to be a normal good and a Giffen good at the same time? Why or why not? 5.The demand for high speed rail in Taiwan is D(p)=30-p. The total cost of providing Q units of high speed rail service is TC(Q)=Q^2. (a) (10%) What is the marginal revenue of the high speed rail company when it provides Q units of service? (b) (10%) If the high speed rail company wants to maximize its profit, what is the optimal quantity of high speed rail service? 6.(10%) Suppose you have well-behaved indifference curves. Your parents want to give you some money by using one of the following two methods. Method (a): Every time you buy a textbook, they subsidize you half of the expense. Method (b): They give you a fixed amount of money regardless what you purchase with the money. If the two methods happen to cost your parents the same amount of money, which one will make you happier? 7.Helen consumes only two goods, X and Y. Her indifference curves are well-behaved. She prefers the consumption choice (3,3) tothe choice (4,2). (a) (5%) Is it possible to tell whether Helen prefers (5,1) to (4,2)? (b) (5%) Is it possible to tell whether Helen prefers (2,4) to (3,3)? --

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