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）︰2009/1/5 考试时限（分钟）：180 min 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : Final Exam You have to provide explanations for all of your answers. 1.The demand for apartment is D(p)=100-20p. The supply for apartment is S(p)=30p. Suppose that the government subsidizes consumers to buy apartment, and the subsidyis $2 for every unit of apartment. (a) (5%) How much is the deadweight loss of the subsidy policy? (b) (5%) Why does the subsidy policy cause deadweight loss? 2.When the market for teachers is competitive, the demand for teachers is D(p)=100-10p and the supply for teachers is S(p)=10p. (a) (5%) How much is the social gain if the market for teachers is perfectly competitive? (b) (10%) Suppose the government is the owner of all schools. It promises to hire anyone who wants to be a teacher at the price $6. How many people are hired as a teacher? Assume that the marginal value of a teacher is the same as that in part (a). How much is the social gain in the market for teachers? How much is the deadweight loss? 3.(10%) Parking space is in short supply at National Taiwan University. At a cost of $10,000, the University has just constructed a new parking lot containing 100 parking spaces. Suppose that the University sell them at a price of $100 apiece. Are the spaces are allocated efficiently? Why or why not? 4.Consider an economy in the Edgeworth box with two persons, A and B, and two goods, X and Y. Suppose the utility function of A and B are both U(x,y)=(xy)^(1/2).<<根号(xy)>> There are 100 units of x and 100 units of y in this economy. (a) (5%) Find out all Pareto-optimal points. (b) (10%) A's the endowment point is (20,50). B's endowment point is (80,50). At what price will the two-person economy achieve an equilibrium? How much will A consume x and y? 5.Suppose that every DRAM company is perfectly competitve. The production function of a DRAM company is q=L+K^(1/2)<<L加根号K>>, where L is the number of labor inputs and K is the number of capital inputs. The wage for one unit of labor is $10 and the rent for one unit of capital is $40. (a) (10%) What is the company's short-run marginal cost curve when it can only adjust the number of labor inputs but its capital is fixed at 16 units? (b) (10%) What is the company's long-run marginal cost curve when both labor and capital are adjustable? (c) (5%) Does the production of DRAM exhibit constant, increasing, or decreasing return to scale? 6.Suppose that X is a perfectly competitive industry. Every firm has the same cost function. It is a constant cost industry. The variable cost of producing q units of X is VC(q)=25q^2 for each firm. Every firm in the industry incurs a fixed cost (for example, a licence fee) of $225, which cannot be avoided even when it shut down. The fixed cost can be avoided only if the firm exits the industry. The demand for X is D(p)=1980-5p. (a) (5%) What is the long-run equilibrium price in the industry? How many firms are there in the industry in the long run? (b) Suppose the government requires every firm to pay $175 as long as the firm produces any positive amount of X. If the firm chooses to shut down or exit, it does not have to make the $175 payment. i. (10%) The number of firms is unchanged in the short run. What is the short-run equilibrium price and quantity in the industry after the policy is implemented? Does any firm choose to shut down? ii. (10%) What is the long-run equilibrium price and quantity in the industry after the policy is implemented? How many firms are there in the new long-run equilibrium? --

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