經濟學原理第三次作業
授課教授：莊慧玲
注意：請把選擇題答案寫在下面格子裡，問答題寫在空白處務必標清楚題號
一、 問答題：40%
1.
2.
Demonstrate the welfare loss of:
a.
A restriction on output when supply is perfectly elastic.
b.
A tax t placed on suppliers that shifts up a supply curve.
c.
A subsidy s given to suppliers that shifts down a supply curve.
d.
A restriction on output when demand is perfectly elastic.
Dental bills in Yellowville rose again last year.
The City Council is considering a bill to place a ceiling on
fees that dentists can charge for teeth cleaning.
The supply curve and demand curve for teeth cleanings are
given in Table below.
Demand
Supply
Price
Quantity
Price
Quantity
$65
100
65
190
60
120
60
180
55
140
55
170
50
160
50
160
45
180
45
150
40
200
40
140
a.
Find the equilibrium price and quantity for teeth cleanings in Yellowville.
b.
The City Council passes a price ceiling ordinance, setting the maximum price at $40 per cleaning.
Use supply and demand analysis to determine the effects of the price control.
二、選擇題：60%
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1)
All of the following statements about marginal benefit are correct EXCEPT
A)
the marginal benefit is the benefit a person receives from consuming one more unit of a good or
service.
B)
the marginal benefit of a good or service is measured as the maximum amount that a person is
willing to pay for one more unit of it.
C) the marginal benefit of a good is equal to zero when resource use is efficient.
D) the marginal benefit of a good decreases as the quantity consumed of the good increases.
2)
If the marginal benefit of the fifth slice of pizza is greater than the marginal cost of the fifth slice of
pizza then the output level is
A)
efficient and more pizza should be produced.
B)
efficient and less pizza should be produced.
C)
inefficient and more pizza should be produced.
D)
inefficient and less pizza should be produced.
3)
In the above figure, what is the efficient quantity of hotdogs to produce?
A)
2 thousand per day
B)
4 thousand per day
C)
6 thousand per day
D)
The efficient quantity cannot be determined without knowing the PPF for this economy
4)
Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4,
for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1. What is the
value of Nick’s consumer surplus?
A)
$2
B)
$9
C)
$3
D)
$10
5)
Producer surplus is the
A)
value of a good minus the price paid for it.
B)
price paid for a good minus the value of the good.
C)
price paid for a good minus the opportunity cost of making it.
D)
opportunity cost of making a good minus the price paid for it.
6)
The figure above shows Clara’s demand for CDs. If the price of a CD were to increase from $15 to
$25, Clara’s total consumer surplus for all the CDs she buys would
A)
decrease by $40.
B)
remain unchanged.
C)
decrease by $90.
D)
increase by $80.
7)
In the above figure, suppose the quantity produced is 40. Then
A)
the marginal social cost of the 40th unit is 1.
B)
the willingness to pay for the 30th unit is 1.
C)
production is not efficient because MSB > MSC.
D)
production is not efficient because MSC>MSB
8)
In the above figure, at the equilibrium price and quantity, producer surplus is ____.
A)
$90.
B)
$60.
C)
$45.
D)
$30.
9)
In the market for CDs, the producer surplus will decrease if ____.
A)
the supply of CDs increases
B)
the demand for CDs decreases
C)
the opportunity cost of a CD decreases
D)
the market price of a CD increases
10) The short-run impact of the San Francisco earthquake on the housing market shifted the
A)
short-run supply curve of housing leftward.
B)
long-run supply curve of housing leftward.
C)
short-run supply curve of housing rightward.
D)
long-run supply curve of housing rightward.
11) The effect of a rent ceiling set above the equilibrium price
A)
is powerful, eliminating price as a regulator of quantity supplied and quantity demanded.
B)
is powerful, strengthening price as a regulator of quantity supplied and quantity demanded.
C)
encourages the development of black markets.
D)
is essentially nonexistent. (has no effect)
12) A price ceiling set below the equilibrium price ____ search activity and ____ the use of black
markets.
A)
increases; increases
B)
increases; decreases
C)
decreases; increases
D)
decreases; decreases
13) The price ceiling depicted in the above figure results in
A)
consumer surplus increasing from $30 thousand to $34.5 thousand.
B)
producer surplus decreasing from $24 thousand to $6 thousand.
C)
a deadweight loss of $16 thousand.
D)
Both answers A and B are correct.
14)
In the absence of a minimum wage, a decrease in the demand for low-skilled labor will ____ the
wage rate when the supply of low-skilled labor is ____.
A)
lower; inelastic
B)
lower; perfectly elastic
C)
raise; inelastic
D)
raise; perfectly elastic
15) An effective minimum wage is a price ____ that ____ the quantity of low-skilled labor demanded.
A)
ceiling; decreases
B)
ceiling; increases
C)
floor; decreases
D)
floor; increase
Wage rate (dollars per hour)
Labor supplied (millions of workers)
Labor demanded (millions of workers)
7
6
4
6
5
5
5
4
6
4
3
7
3
2
8
16) In the table above, what is the equilibrium wage rate in an unregulated market?
A)
$4.00 per hour.
B)
$5.00 per hour.
C)
$6.00 per hour.
D)
$7.00 per hour.
17)
In the table above, the market is in equilibrium. Then a minimum wage is set at $7 per hour. The
number of unemployed workers will be
A)
0.
B)
2 million.
C)
4 million.
D)
6 million.
18) In the table above, what is the level of unemployment (in millions of workers) if the minimum wage
is set at $4 per hour?
A)
0.
B)
1.
C)
3.
D)
4.
19) The more elastic the demand for a good, the
A)
less a sales tax lowers the price paid by buyers.
B)
more a sales tax lowers the price paid by buyers.
C)
less a sales tax raises the price paid by buyers.
D)
more a sales tax raises the price paid by buyers.
20) The above figure shows the market for neckties. Based on the graph, how much tax per necktie has
been imposed by the government?
A)
$1.25 per tie.
B)
$1.00 per tie.
C)
$0.75 per tie.
D)
More information is needed to determine the tax that the government has imposed.