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ID:40985088
大小:2.54 MB
页数:526页
时间:2019-08-12
《WORKOUTS IN INTERMEDIATE MICROECONOMICS 8th》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、Chapter1NAMETheMarketIntroduction.Theproblemsinthischapterexaminesomevariationsontheapartmentmarketdescribedinthetext.Inmostoftheproblemsweworkwiththetruedemandcurveconstructedfromthereservationpricesoftheconsumersratherthanthesmoothed"demandcurvethatweusedinthetext.Rememberthatthereserv
2、ationpriceofaconsumeristhatpricewhereheisjustindierentbetweenrentingornotrentingtheapartment.Atanypricebelowthereservationpricetheconsumerwilldemandoneapartment,atanypriceabovethereservationpricetheconsumerwillde-mandzeroapartments,andexactlyatthereservationpricetheconsumerwillbeindiere
3、ntbetweenhavingzerooroneapartment.Youshouldalsoobservethatwhendemandcurveshavethestair-case"shapeusedhere,therewilltypicallybearangeofpriceswheresupplyequalsdemand.Thuswewillaskforthethehighestandlowestpriceintherange.1.1(3)Supposethatwehave8peoplewhowanttorentanapartment.Theirreservatio
4、npricesaregivenbelow.(Tokeepthenumberssmall,thinkofthesenumbersasbeingdailyrentpayments.)Person=ABCDEFGHPrice=402530351018155(a)Plotthemarketdemandcurveinthefollowinggraph.(Hint:Whenthemarketpriceisequaltosomeconsumeri'sreservationprice,therewillbetwodierentquantitiesofapartmentsdemanded
5、,sinceconsumeriwillbeindierentbetweenhavingornothavinganapartment.)2THEMARKET(Ch.1)Price605040302010012345678Apartments(b)Supposethesupplyofapartmentsisxedat5units.Inthiscasethereisawholerangeofpricesthatwillbeequilibriumprices.Whatisthehighestpricethatwouldmakethedemandforapartmentsequ
6、alto5units?$18.(c)Whatisthelowestpricethatwouldmakethemarketdemandequalto5units?$15.(d)Withasupplyof4apartments,whichofthepeopleA{Hendupgettingapartments?A,B,C,D.(e)Whatifthesupplyofapartmentsincreasesto6units.Whatistherangeofequilibriumprices?$10to$15.1.2(3)Supposethatthereareoriginally5
7、unitsinthemarketandthat1ofthemisturnedintoacondominium.(a)SupposethatpersonAdecidestobuythecondominium.Whatwillbethehighestpriceatwhichthedemandforapartmentswillequalthesupplyofapartments?Whatwillbethelowestprice?Enteryouran-swersincolumnA,inthetable.Thencalculateth
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