曼昆微观经济学课后练习英文答案(第七章).doc

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1、7CONSUMERS,PRODUCERS,ANDTHEEFFICIENCYOFMARKETSrketsWHAT’SNEWINTHESIXTHEDITION:Therearenomajorchangestothischapter.LEARNINGOBJECTIVES:Bytheendofthischapter,studentsshouldunderstand:Øthelinkbetweenbuyers’willingnesstopayforagoodandthedemandcurve.Øhowtodefineandmeasureconsumersurplus.Øthelinkbetweens

2、ellers’costsofproducingagoodandthesupplycurve.Øhowtodefineandmeasureproducersurplus.Øthattheequilibriumofsupplyanddemandmaximizestotalsurplusinamarket.CONTEXTANDPURPOSE:Chapter7isthefirstchapterinathree-chaptersequenceonwelfareeconomicsandmarketefficiency.Chapter7employsthesupplyanddemandmodeltode

3、velopconsumersurplusandproducersurplusasameasureofwelfareandmarketefficiency.TheseconceptsarethenutilizedinChapters8and9todeterminethewinnersandlosersfromtaxationandrestrictionsoninternationaltrade.ThepurposeofChapter7istodevelopwelfareeconomics—thestudyofhowtheallocationofresourcesaffectseconomic

4、well-being.Chapters4through6employedsupplyanddemandinapositiveframework,whichfocusedonthequestion,“Whatistheequilibriumpriceandquantityinamarket?”Thischapternowaddressesthenormativequestion,“Istheequilibriumpriceandquantityinamarketthebestpossiblesolutiontotheresourceallocationproblem,orisitsimply

5、thepriceandquantitythatbalancesupplyanddemand?”Studentswilldiscoverthatundermostcircumstancestheequilibriumpriceandquantityisalsotheonethatmaximizeswelfare.KEYPOINTS:·Consumersurplusequalsbuyers’willingnesstopayforagoodminustheamounttheyactuallypayforit,anditmeasuresthebenefitbuyersgetfromparticip

6、atinginamarket.Consumersurpluscanbecomputedbyfindingtheareabelowthedemandcurveandabovetheprice.·Producersurplusequalstheamountsellersreceivefortheirgoodsminustheircostsofproduction,anditmeasuresthebenefitsellersgetfromparticipatinginamarket.Producersurpluscanbecomputedbyfindingtheareabelowtheprice

7、andabovethesupplycurve.·Anallocationofresourcesthatmaximizesthesumofconsumerandproducersurplusissaidtobeefficient.Policymakersareoftenconcernedwiththeefficiency,aswellastheequality,ofeconomicoutcomes.·Theequilibr