平狄克《微觀經(jīng)濟(jì)學(xué)》課后答案 2

1、Chapter2:TheBasicsofSupplyDem4CHAPTER2THEBASICSOFSUPPLYDEMTEACHINGNOTESThischapterdepartsfromthestardtreatmentofsupplydembasicsfoundinmostotherintermediatemicroeconomicstextbooksbydiscussingsomeofthewld’smostimptantmarke

2、ts(wheatgasolineautomobiles)teachingstudentshowtoanalyzethesemarketswiththetoolsofsupplydem.Althoughmostofthediscussionofeconomictheyinthischapterservesasareviewtherealwldapplicationsofthistheywillbeenlighteningfstudents

3、particularlythematerialcoveredinSection2.5Examples2.52.6.Someproblemsplaguetheunderstingofsupplydemanalysis.Oneofthemostcommonsourcesofconfusionisbetweenmovementsalongthedemcurveshiftsindem.Throughadiscussionoftheceteris

4、paribusassumptionstressthatwhenrepresentingademfunction(eitherwithagraphanequation)allothervariablesareheldconstant.Movementsalongthedemcurveoccuronlywithchangesinprice.Astheomittedfactschangetheentiredemfunctionshifts.S

5、tudentsmayalsofindareviewofhowtosolvetwoequationswithtwounknownshelpful.TostressthequantitativeaspectsofthedemcurvetostudentsmakethedistinctionbetweenquantitydemedasafunctionofpriceQ=D(P)theinversedemfunctionwherepriceis

6、afunctionofthequantitydemedP=D1(Q).ThismayclarifythepositioningofpriceontheYaxisquantityontheXaxis.Studentsmayalsoquestionhowthemarketadjuststoanewequilibrium.Onesimplemechanismisthepartialadjustmentcobwebmodel.Adiscussi

7、onofthecobwebmodel(basedontraditionalcnhogcycleanyotherexample)addsacertainrealismtothediscussionismuchappreciatedbystudents.Althoughthischapterintroducesdemincomecrosspriceelasticitiesyoumayfinditmeappropriatetoreturnto

8、incomecrosspriceelasticityafterdemelasticityisreintroducedinChapter4.IfyouwaityoushouldpostponeExercise(7)untilincomecrosspriceelasticitiesarediscussed.REVIEWQUESTIONS1.Supposethatunusuallyhotweathercausesthedemcurvefice

9、creamtoshifttotheright.WhywillthepriceoficecreamrisetoanewmarketclearinglevelAssumethesupplycurveisfixed.Theunusuallyhotweatherwillcausearightwardshiftinthedemcurvecreatingshtrunexcessdematthecurrentprice.Consumerswillbe

10、gintobidagainsteachotherftheicecreamputtingupwardpressureontheprice.Thepriceoficecreamwillriseuntilthequantitydemedthequantitysuppliedareequal.Chapter2:TheBasicsofSupplyDem6DP1P2S2PriceQuantityofButterQ1Q2S1Figure2.2.bc.

11、Adecreaseinaverageincomelevels.Assumethatbutterisanmalgood.AdecreaseintheaverageincomelevelwillcausethedemcurvefbuttertoshiftfromD1toD2.ThiswillresultinadeclineintheequilibriumpricefromP1toP2adeclineintheequilibriumquant

12、ityfromQ1toQ2.SeeFigure2.2.c.D1P1P2SPriceQuantityofButterQ1Q2D2Figure2.2.c3.Supposea3percentincreaseinthepriceofcnflakescausesa6percentdeclineinthequantitydemed.WhatistheelasticityofdemfcnflakesTheelasticityofdemistheper