Principles of Microeconomics EX3

《Principles of Microeconomics EX3》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、GlobalSummerSchoolBeijing,2015PrinciplesofMicroeconomics(Chapters7,8,9,10,13)1.Whichofthefollowingstatementsiscorrect?a.Buyersalwayswanttopaylessandsellersalwayswanttobepaidmore.b.Buyersalwayswanttopaylessandsellersalwayswanttobepaidless.c.Buyersalwayswanttopaymoreandsellersalways

2、wanttobepaidmore.d.Buyersalwayswanttopaymoreandsellersalwayswanttobepaidless.2.Welfareeconomicsisthestudyofa.taxesandsubsidies.b.howtechnologyisbestputtouseintheproductionofgoodsandservices.c.governmentwelfareprogramsforneedypeople.d.howtheallocationofresourcesaffectseconomicwell-

3、being.3.Anexampleofpositiveanalysisisstudyinga.howmarketforcesproduceequilibrium.b.whetherequilibriumoutcomesarefair.c.whetherequilibriumoutcomesaresociallydesirable.d.ifincomedistributionsarefair.4.Anexampleofnormativeanalysisisstudyinga.howmarketforcesproduceequilibrium.b.surplu

4、sesandshortages.c.whetherequilibriumoutcomesaresociallydesirable.d.incomedistributions.5.Aresultofwelfareeconomicsisthattheequilibriumpriceofaproductisconsideredtobethebestpricebecauseita.maximizesboththetotalrevenueforfirmsandthequantitysuppliedoftheproduct.b.maximizesthecombined

5、welfareofbuyersandsellers.c.minimizescostsandmaximizesoutput.d.minimizesthelevelofwelfarepayments.Table1BuyerWillingnessToPayLori$50.00Audrey$30.00Zach$20.00Calvin$10.006.RefertoTable1.Ifthepriceoftheproductis$18,thenthetotalconsumersurplusisa.$38.b.$42.c.$46.d.$72.Table7BuyerWill

6、ingnesstoPayMichael$500Earvin$400Larry$350Charles$3007.RefertoTable7.YouhaveanextratickettotheMidwestRegionalSweet16gameinthemen’sNCAAbasketballtournament.Thetableshowsthewillingnesstopayofthefourpotentialbuyersinthemarketforatickettothegame.Youholdanauctiontoselltheticket.Whomake

7、sthewinningbid,andwhatdoesheoffertopayfortheticket?a.Michael;$501b.Michael;morethan$400butlessthanorequalto$500c.Earvin;$400d.Earvin;morethan$350butlessthanorequalto$4008.Billcreatedanewsoftwareprogramheiswillingtosellfor$200.Hesellshisfirstcopyandenjoysaproducersurplusof$150.What

8、isthepricepaidforthesoftware?a.$5