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：社会科学院 开课系所︰经济系 考试日期（年月日）︰100.12.26 考试时限（分钟）：50 min 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : Note: You have to provide explanations for all of your answers. 1.Suppose that rice is a perfect competitive industry. The total cose function of growing "q" units of rice for a farmer is 25q^2 TC(q) = 200 + ------- 2 For simplicity assume the total cost function is the same in the short run and in the long run. Anyone can enter or exit the rice industry in the long run. The demand for rice in the market is D(p) = 20100 - 20p. (a)(10%)What is the long-run supply in the industry? (b)( 5%)What is the equilibrium price of rice in the long run? (c)( 5%)How many farmers are there in the rice industry in the long-run equilibrium? (d)( 5%)How much is the comsumers' surplus in the rice market? (e)( 5%)How much is the producer's surplus for a farmer in the rice market? (f)Suppose the price of bread drops so that the demand for rice reduces to D(p) = 18900 - 20p. Answer the following questions for the short-run equilibrium (i.e. the number of farmers is unchanged after the reduction of rice demand). i. (10%)What is the market supply function S(p) in the short run? ii.(10%)How much does the equilbrium price change? 2.(10%)Suppose that taxi is provided by a competitive constant-cost industry. Suppose that the government lowers the annual license fee. How would a taxi driver's profit change in the long run? How would the long-run equilibrium price change? 3.NTU bakery produces bread by employing bakers to use its ovens. When it employs L bakers and K ovens, it can produces Q=L^0.5*K^0.25 pieces of bread a day. Both L and K can be non-integer numbers. For example, a baker can work only one hour in a day. The wage of a baker is P_L = $2 a day while the rent of an oven is P_K = $1 a day. (a)(15%)The bakery has signed a contract to rent exactly 1 oven in December. Nonetheless, it can change the number of bakers as it wishes. What are its short-run total cost(SRTC(Q)) when it produces Q pieces of bread a day? (b)Now, suppose that the bakery will sign a new contract on ovens in the next month. Consequently, it can choose both L and K to miximize its profits. i. (15%)What are its long-run marginal cost function(LRMC)? ii.(10%)Does the production function exhibit decreasing, constant, or increasing returns to scale? --- --

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