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ID:42799867
大小:380.32 KB
页数:14页
时间:2019-09-21
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1、Chapter5
2、ConsumersandIncentives53Chapter5ConsumersandIncentivesQuestions1.Whatarethethreenecessaryingredientsforhelpingaconsumerdecidewhattobuy?Answer:Thefirstingredientiswhatyoulike.Asaconsumerattemptstomaximizethebenefitsfromconsumption,shewouldbuywhatshethinkswill
3、giveherthemostsatisfactionaccordingtohertastesandpreferences.Thesecondingredientispricesofgoodsandservices.Whenaconsumerdecideswhattobuy,shemusttakeaccountofnotonlythepriceofthegoodshewishestopurchasebutthepricesofallothergoodsthatareavailable.Thisallowstheconsumerto
4、formallydefinetherelativepricesofgoods,whichdeterminewhatshegivesupwhenshepurchasessomething.Thethirdingredientishowmuchmoneyyouhavetospend.Althoughaconsumermaywanttobuyasmanygoodsandservicesasshewishes,shecanonlypurchaseasmuchasherlimitedincomeallows.2.Howdoesaconsu
5、mer’sbudgetsetdifferfromhisbudgetconstraint?Foraconsumerwithagivenlevelofincome,willthebudgetsethavemorecombinationsofgoodsorwillthenumberofcombinationsbehigherforthebudgetconstraint?Answer:Thebudgetsetisthesetofallpossiblebundlesofgoodsandservicesthataconsumercanpur
6、chasewithhisincome,irrespectiveofwhethertheentireincomeisused.Thebudgetconstraintrepresentsonlythosebundlesthatexhausttheconsumer’sincome.Therefore,thebudgetsethasmoreconsumptionbundlesthanthebudgetconstraint.3.Considerthefollowingfigureswherethelighterlineistheorigi
7、nalbudgetconstraintforaconsumerandthedarkerlineisthenewone.Examineeachcaseandexplainwhatcouldhavecausedthechange.(a)©2015PearsonEducation,Inc.Chapter5
8、ConsumersandIncentives53(b)(c)Answer:Inpanel(a),thebudgetconstraintpivotsinwardalongthex-axis.Thiscanbeexplainedbyan
9、increaseinthepriceofgoodX.Inpanel(b),thebudgetconstraintpivotsoutwardalongthey-axis.ThiscanbeexplainedbyadecreaseinthepriceofgoodY.Inpanel(c),thebudgetconstraintshiftsoutward.ThismeansthatthetotalincomethattheconsumeriswillingandabletospendongoodsXandYhasincreased.Th
10、isshiftcouldalsobetheresultofanequalpercentagedecreaseinthepriceofbothgoods.Forexample,a100percentincreaseinincomewouldhavethesamee
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