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1、INTERMEDIATEMICROECONOMICSExerciseI1.ThedemandcurveofmovieisQ=500−5P.Ifthecurrentpriceofticketsis35,thepriceelasticityofdemandatthecurrentpriceisa.-0.2b.-0.54c.-0.68d.-12.Whichofthefollowingutilityfunctionswouldnotbeconsistentwiththenotionthatxandyar
2、eboth“goods”withpositivemarginalutilities?a..b.U(x,y)=x+y.c..d.U(x,y)=x/y.3.Iftwogoodsareperfectcomplements:a.thereisablisspointandtheindifferencecurvessurroundthispoint.b.consumerswillonlybuythecheaperofthetwogoods.c.indifferencecurveshaveapositives
3、lope.d.noneoftheabove.4.Accordingtothegraphshown,ifthegovernmentimposesapriceceilinginthismarketatapriceof$5.00,theresultwouldbea.ashortageof20units.b.ashortageof30units.c.asurplusof20units.d.asurplusof40units.5.Ifutilityisgivenby,thisperson’sindiffe
4、rencecurvesarea.parabolas.（抛物线）b.hyperbolas.（双曲线）c.concentriccircles.（同心圆）d.straightlines.6.Whichofthefollowingisanexampleofanormative,asopposedtopositive,statement?a.Thepriceofgasolinecamedownsharplyduringthesecondhalfof2006.b.Ifthegovernmentweretos
5、etamaximumlegalpriceongasoline,thentherewouldbeashortageofgasoline.c.Incometaxesshouldbereduced.d.Thefederalgovernmentobtainsmuchofitsrevenuefromincometaxes.7.Ifanindividual’sutilityfunctionforcoffee(x)andcream(y)isgivenbyU(x,y)=min(x,5y),thedemandfu
6、nctionforcoffeeisgivenbya.X=I/2px.b.X=I/(px+py).c.X=I/(px+0.2py).d.X=I/(px+py)2.I.TrueorFalse.Pleasewriteyouranswerinthetable.123451.Engelcurvesalwaysslopeupwards.2.Iftherearetwogoods,ifaconsumerprefersmoreofeachgoodtoless,andifshehasdiminishingmargi
7、nalrateofsubstitution,thenherpreferencesareconvex.3.IfsomeonehasautilityfunctionU=2min{x,y},thenxandyareperfectsubstitutesforthatperson.4.Anincreaseinanindividual’sincomewithoutchangingrelativepriceswillshifttheindifferencecurvesoutward.5.Tangencieso
8、findifferencecurvestothebudgetconstraintmustbepointsofutilitymaximization.II.CalculationandGraph1.Drawgraphswithquantitiesofpizzaonthehorizontalaxisandcocaontheverticalaxistoillustratethefollowingsituations.Ineachcasedrawtwodifferentindifferencecurve
