课程名称︰经济学乙 课程性质︰政治系三组共同必修 课程教师︰江瑞祥 开课学院：社会科学院 开课系所︰政治系 考试日期（年月日）︰97年11月21日 考试时限（分钟）：120分钟+延长15分钟 是否需发放奖励金：please, thank you! 试题 : Midterm Exam 1.(5 pts.) Define opportunity cost. What is the opportunity cost to you of attending college? What was your opportunity cost of coming to exam today? 2.(20 pts.) The only two countries in the world, Alpha and Omega, face the following production possibilities frontiers. Alpha Omega Popcorn | Popcorn | | 300| | | | | | | 150| | | | | | |__________________ |_____________________ 0 250 0 100 Peanuts Peanuts 由於画不出斜线的关系,请自行连接与150和250二点相交的斜线, 以及连接与300和100二点相交的斜线,感谢~ a) Assume that each country decides to use half of its resources in the production of each good. Show these points on the graphs for each country as point A. b) If these countries choose not to trade, what would be the total world production of popcorn and peanuts? c) Now suppose that each country decides to specialize in the good in which each has a comparative advantage. By specializing, what is the total world production of each product now? d) If each country decides to trade 100 units of popcorn for 100 units of peanuts, show on the graphs the gain each country would receive from trade. Label as B. 3.(20 pts.) Based on the demand-supply schedule described below, please answer the questions. ____________________________________________________________ Price of Burrito Quantity Demanded Quantity Supplied ------------------------------------------------------------ 0.0 500 125 ------------------------------------------------------------ 1.0 400 175 ------------------------------------------------------------ 1.5 350 200 ------------------------------------------------------------ 2.0 300 225 ------------------------------------------------------------- 2.5 250 250 ------------------------------------------------------------- 3.0 200 275 -------------------------------------------------------------- 3.5 150 300 -------------------------------------------------------------- 4.0 100 325 --------------------------------------------------------------- 5.0 0 350 ________________________________________________________________ a) What is equilibrium price and quantity? How big is the total economic surplus? b) With a price ceiling of $1.50 per burrito, what is the new equilibrium price and quantity? c) Based on b), who are better off and worse off? d) Based on c), how big is the new total economic surplus and how big the deadweight loss? 4.(10 pts.) Describe the effects of the following events on the supply and/or demand for raisin bran cereal. a) The price of raisin increases. b) The price of milk decreases. c) The price of raisin increases and the price of milk decreases. 5.(25 pts.) Jolin has a budget of $120 a week that she spends on chocolate and music CDs. Let the price of chocolate be Pc=$2 and the price of a music CD be Pcd=$6. a) Draw her budget line on a(preferably large)graph with CDs on the X-axis. b) Assuming that she buys 30 chocolates at her optimum, draw her typical indifference curve at her optimum bundle on the same graph. Label the optimum as A. What is the marginal rate of substitution at point A? Now suppose the price of a CD become cheaper at $4. Yet, on her optimum, she continues to consume the same amount of chocolate, that is, 30 chocolates. c) Draw her new budget line on the same graph. d) Show a typical indifference curve consistent with her new optimum consumption bundle. Label as B. e) Show the substitution and income effects for the consumption of music CDs due to the price change in music CDs as mentioned above. 6.(20 pts.) You won a small town movie theatre. You currently charge $5 per ticket for everyone who comes to your movies. Your friend who took an economics course in college tells you that there may be a way to increase your total revenue. Given the demand curves shown, answer the followling questions. Adult Demand Child Demand Price| Price| $10| $10| 9| 9| 8|------ 8| 7| | 7| 6| | 6|---- 5|--------- 5|---------- 4| | | 4|---------------- 3| | | 3|---------------------- 2|------------ 2| | | | | 1|_____|__|__|______ 1|___|_____|_____|_____|_________ 0 40 50 60 Quantity 5 10 15 20 25 30 35 40 Quantity 我尽力画了> <,附上座标Adult Demand有标出三个点(Quantity,Price)为 (40,8);(50,5);(60,2),而Child Demand有标出四个点为(10,6);(20,5);(30;4);(40;3) 自己画完整一点吧~~~:p a) What is your current total revenue for both groups? b) The elasticity of demand is more elastic in which market? c) Which market has the more inelastic demand? d) What is the elasticity of demand between the prices of $5 and $2 in the adult market? Is this elastic or inelastic? e) What is the elasticity of demand between $5 and $3 in the children's market? Is this elastic or inelastic? -- 倘若说放一次手 就像咳一个嗽 我又何苦在乎得不到的温柔 我坐在公路的出口 等待天黑以後 无边的寂寞 连想你都是种残酷切磋 我目送沿海的日落 紧抱一个醉生梦死的枕头 游不出回忆却学不会放手 怎麽走 SHE <沿海公路的出口> --

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