1、暨南大學2012國際商學院 金融工程 諶江瑞 Outline for Reviewing Microeconomics (2013)The Structure of Examination Paper1. Definition of Terms(65, 30 points)2. Multiple Choice (201, 20 points)3. Short Answer (310, 30 points)4. Calculation (210, 20 points)Outline for Reviewing1. Definition of Term（65，30 points）adverse s

2、election budget LineCoase Theorem complementsconsumer surplus cross-price elasticity of demanddemand curve diminishing marginal utilityeconomies of scale economies of scopeengel curve externalityfirst-degree price discrimination fixed costindifference curve isocost lineisoquant marginal benefitmargi

3、nal cost marginal rate of substitutionmarginal rate of technical substitution marginal utilitymarket failure moral hazard natural monopoly opportunity costprice discrimination price elasticity of demandproducer surplus production possibilities frontierpublic goods returns to scalesunk cost supply cu

4、rvethird-degree price discrimination variable cost2. Multiple Choice（201，20 points）Cover all Chapters 3. Short Answer（310，30 points）Chapter 2questions for review: 5, 6Chapter 3 questions for review:1, 5；exercise: 2Chapter 4 questions for review:1, 3, 11Chapter 6 questions for review:1, 5, 7Chapter 7

5、 questions for review:3, 7, 14Chapter 8 questions for review:3, 4, 11Chapter 10 questions for review:2, 3, 5, 8Chapter 11 questions for review:1, 3, 4Chapter 12 questions for review:2, 6, 8, 10Chapter 14 questions for review:2, 4, 5Chapter 16questions for review:4, 7, 13Chapter 17 questions for revi

6、ew:6, 10；exercise: 3, 4Chapter 18questions for review:1, 2, 3, 104. Caculation（210，20 points）Chapter 2 exercise:11Chapter 3 exercise:14, 16Chapter 4 exercise:9, 13Chapter 6 exercise:7, 8, 9Chapter 7 exercise:3, 9, 11Chapter 8 exercise:4, 5, 6, 7, 11Chapter 10 exercise:6, 7Chapter 11 exercise:4, 5Cha

7、pter 12 exercise:3(a/b/c/d), 4, 6(a/b/c)Chapter 14 exercise:8, 10(a/b/c)Chapter 18 exercise:3一、名詞解釋一般名詞1. complements（互補品）：Two goods for which an increase in the price of one leads to a decrease in the quantity demanded of the other.（一種商品的價格上升會導致另一種商品的需求量下降的兩種商品。）2. public goods（公共品）：Nonexclusive（非排

8、他的） and nonrival（非競爭性的） good：the marginal cost of product to an additional consumer is zero and people cannot be excluded from consuming it.（非排他性和非競爭性的商品：增加一個額外消費者的邊際成本為零，且無法排除人們使用這件商品。）3. externality（外部性）：Action by either a producer or a consumer which affects other producers or consumers，but is no

9、t accounted for in the market price.（對其他生產者或消費者造成影響的某一生產者或消費者的行為，但是這個行為并沒有反映在市場價格中。）4. consumer surplus（消費者剩余）：Difference between what a consumer is willing to pay for a good and the amount actually paid.（消費者為某一商品愿意支付的數額與實際支付的數額之間的差額。）5. producer surplus（生產者剩余）：Sum over all units produced by a firm

10、of differences between the market price of a good and the marginal cost of production.（所有生產產品的邊際生產成本和商品市場價格之間差額的總和。）彈性6. price elasticity of demand（需求價格彈性）：Percentage change in quantity demanded of a good resulting from a 1-percent increase in price.（商品價格上升1%所導致的需求量變動的百分比。）需求曲線導數的負數7. cross-price el

11、asticity of demand（需求的交叉價格彈性）：Percentage change in the quantity demanded of one good resulting from a 1-percent increase in the price of another.(某一種商品價格增加1%所導致的另一種商品需求數量變動的百分比。)規模8. returns to scale（規模報酬）：Rate at which output increases as inputs are increased proportionately.（投入增加時產出也成比例增加。）9. econ

12、omies of scale（規模經濟）：Situation in which output can be doubled for less than a doubling of cost.（企業可以以低于雙倍的成本獲得雙倍的產出時的情形。）10. economies of scope（范圍經濟）：Situation in which joint output of a single firm is greater than output that could be achieved by two different firms when each produces a single prod

13、uct.（一家企業生產兩種商品產出超過兩家企業各生產一種產品的總產量時的情形。）規律定理11. adverse selection（逆向選擇）： Form of market failure resulting when products of different qualities are sold at a single price because of asymmetric information，so that too much of the low-quality product are sold.(市場失靈的一種形式。由于存在不對稱信息，不同質量的產品以同一價格出售，結果導致市場上

14、出現太多的低質量產品而較少的高質量產品。)12. Coase theorem(科斯定理)：Principle that when parties can bargain without cost and to their mutual advantage，the resulting outcome will be efficient regardless of how property rights are specified.(當各方能夠無成本地討價還價并對大家都有利時，無論產權是如何界定的，最終結果將是有效率的。)13. diminishing marginal utility（邊際效用遞

15、減）：Principle that as more of a good is consumed，the consumption of additional amounts will yield smaller additions to utility.（隨著某種商品消費量的增多，多消耗一單位商品所帶來的效用的增加減少。）成本類14. opportunity cost（機會成本）：Cost associated with opportunities that are forgone when a firms resources are not put to their best alternat

16、ive use.（與企業未將資源用于其他可供選擇的最佳用途而放棄的機會相聯系的一種成本。）15. fixed cost，FC（固定成本）：Cost that does not vary with the level of output and that can be eliminated only by shutting down.（無論產出水平如何都不會變化的那部分成本；只有企業退出，這部分成本才消失。）16. variable cost，VC（可變成本）：Cost that varies as output varies.（隨產量不同而發生變化的那部分成本。）17. sunk cost（沉

17、淀成本）：Expenditure that has been made and cannot be recovered.（已經發生且無法收回的支出。）曲線combinationrelationship18. demand curve（需求曲線）：Relationship 非常常見between the quantity of a good that consumers are willing to buy and the price of the good.（消費者愿意購買的商品數量和該商品價格之間的關系。）19. supply curve（供給曲線）：Relationship between

18、 the quantity of a good that producers are willing to sell and the price of the good.（描繪生產者愿意出售的商品數量與該商品價格之間關系的曲線。）20. indifference curve（無差異曲線）：Curve representing all combinations 非常常見of market baskets that provide a consumer with the same level of satisfaction.（代表所有能提供相同滿足程度的所有市場籃子的曲線。）21. budget

19、Line（預算線）：All combinations of goods for which the total amount of money spent is equal to income.（花完個人的全部收入所能購買的所有商品組合。）22. isocost line（等成本線）：Graph showing all possible combinations of labor and capital that can be purchased for a given total cost.（給定總成本條件下購買的資本和勞動的所有可能組合。）23. production possibilit

20、ies frontier（生產可能性邊界）：Curve showing the combinations of two goods that can be produced with fixed quantities of inputs.（在給定數量的投入下，兩種產品的各種可能生產組合的曲線。）24. isoquant（等產量線）：Curve showing all possible combinations of inputs that yield the same output.（由生產出同一產量的所有可能的投入品組合形成的曲線。）25. Engel curve（恩格爾曲線）：Curve

21、relating the quantity of a good consumed to income.（表示食品消費和收入之間關系的曲線。）邊際26. marginal benefit（邊際收益）：Benefit from the consumption of one additional unit of a good.（多消費一單位商品所帶來的效用增加。）27. marginal cost（邊際成本）：Cost of one additional unit of a good.（多生產額外的一單位商品產出而引起的成本的增加。）28. marginal utility（邊際效用）：Additi

22、onal satisfaction obtained from consuming one additional unit of a good.（從消費額外一單位某種商品中獲得的額外的滿足。）29. marginal rate of substitution，MRS（邊際替代率）：Maximum amount of a good that a consumer is willing to give up in order to obtain one additional unit of another good.（消費者為獲得額外一單位的某商品而愿意放棄的另一種商品的最大數量。）30. mar

23、ginal rate of technical substitution，MRTS（邊際技術替代率）：Amount by which the quantity of one input can be reduced when one extra unit of another input is used，so that output remains constant.（在保持產出不變的前提下，某一種投入要素增加一單位，另一種要素需要減少的量。）市場31. market failure（市場失靈）：Situation in which an unregulated competitive mar

24、ket is inefficient because prices fail to provide proper signals to consumers and producers.（某些情況下，不受管制的競爭市場是無效率的，因為價格無法向消費者和生產者傳達正確的信號。）32. moral hazard（道德風險）：When a party whose actions are unobserved can affect the probability or magnitude of a payment associated with an event.（當某一方的行為不能被觀察時，他就可以影

25、響與該事件相聯系的支付報酬的概率分布。）33. natural monopoly（自然壟斷）：Firm that can produce the entire output of the market at a cost lower than what it would be if there were several firms.（一個廠商能以低于存在許多廠商時的生產成本生產整個市場全部產量的情形。）價格歧視34. price discrimination（價格歧視）：Practice of charging different prices to different consumers f

26、or similar goods.（對相同商品向不同的消費者索取不同價格的行為。）35. first-degree price discrimination（一級價格歧視）：Practice of charging each customer her reservation price.（向每個顧客都索取其保留價格的行為。）36. third-degree price discrimination（三級價格歧視）：Practice of dividing consumers into two or more groups with separate demand curves and char

27、ging different prices to each group.（根據不同的需求曲線將消費者分成兩組或兩組以上并對每組索取不同價格的行為。）二、選擇題三、簡答題Short answersChapter 2Short-run:there is a limit to how much firms can produce because they face capacity constraints.Longrun:expand capacity.new firms can enter the marketTherefore.1how rapidly consumers respond to

28、price changes and how many substitutes are available.2television3long45Chapter 3Chapter 4Chapter 6Chapter 7Chapter 8Chapter 10Chapter 11Chapter 12Chapter 14Chapter 16Chapter 17Chapter 18四、計算題CalculationChapter 2Chapter 3Chapter 4Chapter 6Chapter 7Chapter 8Chapter 10Chapter 11Chapter 12Chapter 14Chap

29、ter 18五、簡答題 整理后Chapter 25.解釋長期供給的價格彈性大于短期。Short-run:there is a limit to how much firms can produce because they face capacity constraints.Longrun:expand capacity.new firms can enter the marketTherefore6.需求的長期價格彈性和短期價格彈性的區別長期：how rapidly consumers respond to price changes and how many substitutes are

30、 available.Chapter 31.四個個人偏好的假設以及特點Complete: can rank all possible basket of goods and servicesTransitive: ab, bc, so acMore is better than less: all goods are desirable and the preferDiminishing marginal rate of substitution: indifference curves are convex.5.邊際替代率隨著凸性MRS怎么變，線性呢？The slope will incre

31、ase(becomes less negative)The slope does not change2不同偏好不同圖像喜歡A，不喜歡B喜歡A，不喜歡B，不理B不喜歡A，喜歡B，吃A固定比例（類似互補品）喜歡A，無所謂B喜歡A的程度是B的兩倍Chapter 41解釋不同價格消費曲線和需求曲線Price consumption curve: show the quantities of two goods that a consumer will purchase as the price of one of the goods changes.Demand curve: show the qu

32、antity of one good that a consumer will purchase as the price of that good changes個人需求曲線和市場需求曲線An individual demand curve: plots the quantity demanded by one person at various pricesMarket demand curve: is the horizontal sum of the individual demand curves for he product恩格爾曲線和需求曲線Engel curve: the qu

33、antity of one good that will be purchased by a consumer at different income levels: Demand curve: the quantity of one good that wiil be purchased at different prices收入效應和替代效應A change in the priceSE: the change in the quantity demanded of the good, holding the consumers utility constantIE: the change

34、 in the utility due to the change in purchasing power.3.是否正確MRS隨著需求曲線下降而下降TrueFood demand decrease. Pf decrease.MRS=pf/pc變小效用隨著需求曲線下降而上升TrueThe Price of food decreaseThe budget line pivots outward恩格爾曲線總是向上FalseInferior good11哪個價格彈性更高需求：有商標的牙膏和一般牙膏有商標的：substitute需求：汽油在短期和長期長期: response to change. sub

35、stituteChapter 61.生產函數？長期和短期生產函數不同之處？Represents how inputs are transformed into outputs by a firm.Desecribe the maximum output that a firm can produce for each combination of inputs.Short run, fixed input constantLong run, all inputs are variable5.生產函數和等產量曲線The maximum output that can be achieved wi

36、th any given combination of inputsAll of the different combinations of inputs that can be used to produce in one particular level of output.7.等產量曲線可以凸，直線，或者L型。這些告訴了生產函數什么？MRTS的什么？Convex: some inputs can be substituted. MRTS is diminishingLinear: the slope and MRTS is constant. The input are perfect

37、substitutesL-shaped: the input are perfect complements.Chapter 73.判斷正誤企業家沒給自己薪水，會計成本為0.但是經濟成本是正數TrueHe could be employed elsewhere, there is an economic cost.一個公司有會計利潤，不一定有經濟利潤TrueAccounting profit considers only the explicit, monetary costs.No consider opportunity costs如果公司雇傭現在失業的工人，利用工人的機會成本是0Fals

38、eThe opportunity cost is equal to the wage because it would have had to hire someone else.For worker. Time. 7.假設MC增加。你能確定AVC增加或減少嗎？No, it can be either increasing or decreasing.17,14經濟規模和規模報酬的區別When the output double, the cost change less than double.All inputs are doubled , the output double?Chapte

39、r 83.長期均衡下，所有公司的經濟利潤為0，為什么？Free entry or exit.Positive economic profits induce new entrantsSupply curve shifts to the rightPrice fall4.經濟利潤和生產使者剩余的區別？Economic profit is the difference between total revenue and total cost.Producer surplus is the difference between total revenue and total variable cos

40、tSo, PS=EP+FC11.完全競爭市場的假設是什么？為什么假設重要？All firms in the industry are price takersAll firms produce identical productsFree entry and exit to firmsFirst two: No firm has any market power and faces a horizontal demand curve.Positive economic profits encourage firms to enter the industry.Price equals long

41、-run average cost.Chapter 10 市場勢力2. 壟斷公式，需求曲線的彈性？為什么這個組成能衡量壟斷勢力？PP-MC/P=-1/EdAd demand becomes more elastic, the markup percentage becomes smallerThe firm has less power to mark up its price above MC when it faces a more elastic demand.3.為什么在壟斷時沒有供給曲線？Output depends not only on MC, but also on the d

42、emand curve.We dont know the Q change as changes in price.Shift in demand curve lead to changes in price, output, or both.There is no correspondence between price to sellers quantily 5.進入壁壘，導致壟斷勢力的形式。各舉例Exclusive rights: patents copyrightsControl of an essential resource:Economies of cale: (because

43、the largest producer can charge a lower price)8.為什么當政府強制降價時，壟斷者的產出會增加？如果想要產出最大化，價格應在什么地方？The government can change the shape of the firms MR curve.MR 變成折線.Demand curve and the MC intersect. D=MC.Monopolist to produce the competitive level of output.Chapter 11 有市場勢力的定價1.一級價格歧視。最低價格是多少。總產量是多少？Each uni

44、t is sold at the reservation price of each consumerMR=P. so D curve is the firms MR curveOutput: MC=D and the price of the last unit sold will =MC of producing that unit3.電力設備經常二級價格歧視。為什么能提高消費者福利？Diagraph.根據統一商品不同用量所定的不同價格。Consumer surplus may be higher because more output is producedBlock pricing u

45、nder these assumptions improves consumer welfare.4.三級價格歧視。如果消費者有不同的需求，但是相同的價格需求彈性，三級價格歧視可以實現嗎？No!The producer separate customers into distinct market segments.P1/P2=（1+1/E1）/（1+1/E2）If customers in the separate markets have the same price elasticities, the prices are the same in all markets.There is

46、 no different for all customers.There is no profit incentive to doChapter 12壟斷競爭和寡頭壟斷2.為什么在壟斷競爭中公司的需求曲線比市場總需求曲線更平？假設壟斷競爭公司在短期中獲利。在長期中需求曲線會如何變化？Flatness or steepness on the demand curve is elasticity.The E of the firms Dcurve is greater than Dcurve in market demandIt is easier for consumer to switch

47、to another firms to buy productsInduces other firms to enter. Demand and MR curve shift inward. reduce the profit until it fall to zero.6古諾和伯特蘭模型有什么共同點？不同點？Common:1. Both are oligopoly models in which firms produce a homogeneous good.2. Rival behavior(quantity or price) as fixedDifferences1:Cournot:

48、 each firm assumes its rivals will not change the quantity produced（D-d2=d1）反應曲線，先發優勢(斯坦克伯格模型)，競爭平衡，古諾平衡，共謀平衡Bertrand: each firm assumes its rivals will mot change the price they charge.Differences2:Cournot: the firms will produce more than the monopoly output but less than the competitive outputBer

49、trand :end up producing where price equals marginal cost.8彎折的需求曲線描述了價格剛性。解釋這個模型。他的限制因素是什么？為什么價格剛性發生在寡頭壟斷的市場？MR and D both are kinked.If it raises its price, the other firms will not raise their prices. a highly elastic demand for price increases.If it lower its price, the other firms will lower thei

50、r prices. a less elastic demand for price decreases than increases.MR discontinuity. Only large changes in MC lead to changes in price10.為什么歐派克卡特爾成果提高價格，而西派克銅卡特爾沒有？成功的條件是什么？有什么組織問題需要解決1. Demand should be relatively inelastic 2. The cartel must be able to control most of the supplyOPEC: demand and su

51、pply of oil were both inelasticCIPEC: both demand and non-CIPEC supply were highly responsive to price.Problems:1. A agreement on a price and a division2. It must monitor and enforce the agreementChapter 14投入要素市場2.為什么勞動供給曲線向后彎曲The income effect of an increase in the wage rate dominates the substitut

52、ion effect.With a larger wage, the individual work less.Income and leisure and work4.比較壟斷性雇主和競爭性雇主對工人的雇傭選擇。哪個會雇傭較多的工人？哪個會支付較高的工資？請解釋MEAEAssume that both firms have the same demand curve for labor壟斷 ME intersects MR input demand less than competitive.AE intersects D競爭性更多，更高.5.搖滾樂手有時每年能掙到好幾百萬美元的收入。你能用

53、經濟租來解釋著一大筆收入嗎？Economic rent is the difference between the actual payment to the factor of production and the minimum amount that the factor is willing to accept.類比賣方生產者剩余Assume a limited number of top-quality rock musicians.Inelastic supply curve. High demand for rock musicChapter 16一般均衡與經濟效率4.由于契約曲

54、線上的所有點都是有效率的，因此從社會的觀點來看它們都是同樣理想的。你同意這種說法嗎？請解釋If concerned with efficiency and not with equity. They are equally desirable.But most societies are also concerned with equity. All points on the contract curve are not equally desirable.7.生產可能性邊界是如何與生產契約曲線相聯系的？13.市場失靈的四個主要來源是什么？請在每種情況下都簡單解釋為什么競爭性市場不能有效率地

55、運作。1. market power: price does not equal marginal cost. The output is low.2. incomplete information: prices do not reflect the marginal cost of production or the change in utility form changes in consumption.3. externalities: a influences other consumption or production and these effects are not reflected in marke