微观经济学英文课件Eercise1.doc

Exercise The statement that an increase in the demand for notebooks raises the quantity of notebooks demanded, but not the quantity supplied, in general, is false. As Figure 10 shows, the increase in demand for notebooks results in an increased quantity supplied. The only way the statement would be true is if the supply curve was a vertical line, as shown in Figure 11. Figure 10 Figure 11 5. Technological advances that reduce the cost of producing computer chips represent a decline in an input price for producing a computer. The result is a shift to the right in the supply of computers, as shown in Figure 16. The equilibrium price falls and the equilibrium quantity rises, as the figure shows. Figure 16 Since computer software is a complement to computers, the lower equilibrium price of computers increases the demand for software. As Figure 17 shows, the result is a rise in both the equilibrium price and quantity of software. Figure 17 Since typewriters are substitutes for computers, the lower equilibrium price of computers reduces the demand for typewriters. As Figure 18 shows, the result is a decline in both the equilibrium price and quantity of typewriters. Figure 18 12. a. As Figure 1 shows, the supply curve is vertical. The constant quantity supplied makes sense because the basketball arena has a fixed number of seats no matter what the price. Figure 1 b. Quantity supplied equals quantity demanded at a price of $8. The equilibrium quantity is 8,000 tickets. c. Price Quantity Demanded Quantity Supplied $ 4 14,000 8,000 8 11,000 8,000 12 8,000 8,000 16 5,000 8,000 20 2,000 8,000 The new equilibrium price will be $12, which equates quantity demanded to quantity supplied. The equilibrium quantity is 8,000 tickets. 13. Equilibrium occurs where quantity demanded is equal to quantity supplied. Thus: Qd = Qs 380 – 20P = -120+ 30P P = 10 Qd = 380 – 20P = 280 Qs = -120+ 30P =180