课程名称︰ 个体经济学二 课程性质︰ 必修 课程教师︰ 黄贞颖 开课学院： 社科院 开课系所︰ 经济系 考试日期（年月日）︰ 2010/04/19 考试时限（分钟）：120 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : 1. Nokia, a mobile phone producer, uses three inputs, capital (K), labor (L), and natural resource (N). Nokia’s production function is characterized by y = min{K,(L*N)^0.5}, where y is the number of phones produced. Nokia is a profit-maximizing firm. (a) (10%) Does Nokia’s production function exhibit increasing return to scale? Explain. (b) (15%) Assume that Nokia is a price-taker in input markets. Suppose the unit price of K, L, N is r, w, t respectively. In the short run, K is fixed at a level K'. Derive Nokia’s short run cost function. Is the short run average cost constant in y? Explain. (c) (20%) Assume that Nokia is a price-taker in input markets. Suppose the unit price of K, L, N is r, w, t respectively. Derive Nokias long run cost function. Is the long run average cost constant in y? Explain. (d) (15%) Assume that Nokia is a price taker in the mobile phone industry. Can you predict what the price of a mobile phone is based on your answer to (c)? 2.Airliner Bar sells drinks in a perfectly competitive market. Bars take input prices as constant, independent of their production of drinks. Their production costs are all the same. For each of the following situations, illustrate using graphs regarding how the circumstances being described might affect the price and quantity of drinks sold at the Airliner Bar and the bar industry as a whole in the short rub (when the number of firms is fixed) and in the long run (when entry and exit have completed) respectively (a) (20%) The wholesale price of liquor goes up. (Hint: This case is similar to the situatiob where a quantity tax is imposed.) (b) (20%) The yearly price of liquor licenses goes up. (Hint: Interpret the price of liquor license as the quasi fixed cost which will not affect the marginal cost of a firm.) --

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