翻译好的微观期末考题库.docVIP

1、The U.S. Department of Agriculture is interested in analyzing the domestic market for corn. The USDAs staff economists estimate the following equations for the demand and supply curves: Qd = 1,600  125P Qs = 440 + 165P Quantities are measured in millions of bushels; prices are measured in dollars per bushel. Calculate the equilibrium price and quantity that will prevail under a completely free market. Calculate the price elasticities of supply and demand at the equilibrium values. The government currently has a $4.50 bushel support price in place. What impact will this support price have on the market? Will the government be forced to purchase corn under a program that requires them to buy up any surpluses? If so, how much? 1、美国农业部有兴趣分析国内玉米市场。美国农业部的经济学家为需求和供给曲线预估的等式如下： Qd = 1,600  125P Qs = 440 + 165P 算式以百万蒲式耳为单位，价格以每蒲式耳的美元价格计算。 a.请计算在完全竞争市场条件下的均衡价格和数量。 b.请计算该均衡价格下的供应和需求的价格弹性。 c.政府目前实行有每蒲式耳4.50美元的支持性价格。请问在市场上，这个支持性价格会对市场有什么样的影响？政府是否会受一个将要求他们购买所有盈余的计划影响，而被迫购买玉米？如果是这样，需要购买有多少？ （参考：微观经济学第二章22-55页） Solution: Set Qd = Qs to determine price. 1600 - 125P = 440 + 165P 1160 = 290P P = 4 令Qd = Qs来确定价格 Obtain Q by substituting into either expression. Qd = 1600 - 125(4) Qd = 1600 – 500 Q = 1100 P* = $4, Q* = 1100 将P代回原式任一个来获得Q b. For the Own Price Elasticity of Demand (approximately) For the Own Price Elasticity of Supply c. Calculate Qd and Qs at the $4.50 price Qd = 1600 - 125(4.5) Qd = 1037.5 Qs = 440 + 165(4.5) Qs = 1182.5 surplus = Qs - Qd = 1182.5 - 1037.5 = 145 The support price would create an excess supply of 145 million bushels that the government would be forced to buy. 由支持性价格带来的供应过剩为1.45亿蒲式耳，这是政府将被迫购买的数量。 2、American Mining Company is interested in obtaining quick estimates of the supply and demand curves for coal. The firms research department informs you that the elasticity of supply is approximately 1.7, the elasticity of demand is approximately -0.85, and the current price and quantity are $41 and 1,206, respectively. Price is measured in dollar