曼昆微观经济学课后练习英文答案(第七章)

121©2012CengageLearning.AllRightsReserved.Maynotbescanned,copiedorduplicated,orpostedtoapubliclyaccessiblewebsite,inwholeorinpart.rketsWHAT’SNEWINTHESIXTHEDITION:Therearenomajorchangestothischapter.LEARNINGOBJECTIVES:Bytheendofthischapter,studentsshouldunderstand:thelinkbetweenbuyers’willingnesstopayforagoodandthedemandcurve.howtodefineandmeasureconsumersurplus.thelinkbetweensellers’costsofproducingagoodandthesupplycurve.howtodefineandmeasureproducersurplus.thattheequilibriumofsupplyanddemandmaximizestotalsurplusinamarket.CONTEXTANDPURPOSE:Chapter7isthefirstchapterinathree-chaptersequenceonwelfareeconomicsandmarketefficiency.Chapter7employsthesupplyanddemandmodeltodevelopconsumersurplusandproducersurplusasameasureofwelfareandmarketefficiency.TheseconceptsarethenutilizedinChapters8and9todeterminethewinnersandlosersfromtaxationandrestrictionsoninternationaltrade.ThepurposeofChapter7istodevelopwelfareeconomics—thestudyofhowtheallocationofresourcesaffectseconomicwell-being.Chapters4through6employedsupplyanddemandinapositiveframework,whichfocusedonthequestion,“Whatistheequilibriumpriceandquantityinamarket?”Thischapternowaddressesthenormativequestion,“Istheequilibriumpriceandquantityinamarketthebestpossiblesolutiontotheresourceallocationproblem,orisitsimplythepriceandquantitythatbalancesupplyanddemand?”Studentswilldiscoverthatundermostcircumstancestheequilibriumpriceandquantityisalsotheonethatmaximizeswelfare.7CONSUMERS,PRODUCERS,ANDTHEEFFICIENCYOFMARKETS122❖Chapter7/Consumers,Producers,andtheEfficiencyofMarkets©2012CengageLearning.AllRightsReserved.Maynotbescanned,copiedorduplicated,orpostedtoapubliclyaccessiblewebsite,inwholeorinpart.KEYPOINTS:Consumersurplusequalsbuyers’willingnesstopayforagoodminustheamounttheyactuallypayforit,anditmeasuresthebenefitbuyersgetfromparticipatinginamarket.Consumersurpluscanbecomputedbyfindingtheareabelowthedemandcurveandabovetheprice.Producersurplusequalstheamountsellersreceivefortheirgoodsminustheircostsofproduction,anditmeasuresthebenefitsellersgetfromparticipatinginamarket.Producersurpluscanbecomputedbyfindingtheareabelowthepriceandabovethesupplycurve.Anallocationofresourcesthatmaximizesthesumofconsumerandproducersurplusissaidtobeefficient.Policymakersareoftenconcernedwiththeefficiency,aswellastheequality,ofeconomicoutcomes.Theequilibriumofsupplyanddemandmaximizesthesumofconsumerandproducersurplus.Thatis,theinvisiblehandofthemarketplaceleadsbuyersandsellerstoallocateresourcesefficiently.Marketsdonotallocateresourcesefficientlyinthepresenceofmarketfailuressuchasmarketpowerorexternalities.CHAPTEROUTLINE:I.Definitionofwelfareeconomics:thestudyofhowtheallocationofresourcesaffectseconomicwell-being.II.ConsumerSurplusA.WillingnesstoPay1.Definitionofwillingnesstopay:themaximumamountthatabuyerwillpayforagood.2.Example:Youareauctioningamint-conditionrecordingofElvisPresley’sfirstalbum.Fourbuyersshowup.Theirwillingnesstopayisasfollows:Table1Studentsoftenareconfusedbytheuseoftheword“welfare.”Remindthemthatwearetalkingaboutsocialwell-beingandnotpublicassistance.StudentswillunderstandconsumersurplusifyoutakethetimetoworkthroughtheElvisPresleyexample.Ifyoustartwiththissimpleexample,studentswillhavenotroubleunderstandinghowtofindconsumersurplusonagraph.Chapter7/Consumers,Producers,andtheEfficiencyofMarkets❖123©2012CengageLearning.AllRightsReserved.Maynotbescanned,copiedorduplicated,orpostedtoapubliclyaccessiblewebsite,inwholeorinpart.BuyerWillingnesstoPayJohn$100Paul$80George$70Ringo$50Ifthebiddinggoestoslightlyhigherthan$80,allbuyersdropoutexceptforJohn.BecauseJohniswillingtopaymorethanhehastoforthealbum,hederivessomebenefitfromparticipatinginthemarket.3.Definitionofconsumersurplus:theamountabuyeriswillingtopayforagoodminustheamountthebuyeractuallypaysforit.4.Notethatifyouhadmorethanonecopyofthealbum,thepriceintheauctionwouldendupbeinglower(alittleover$70inthecaseoftwoalbums)andbothJohnandPaulwouldgainconsumersurplus.Activity1—ValueofaTimeMachineType:In-classdemonstrationTopics:ConsumersurplusMaterialsneeded:NoneTime:10minutesClasslimitations:WorksinanysizeclassPurposeConsumersurpluscanbeahardconceptforstudentsbecauseitisbasedonavoidedexpenseratherthanonmoneythatisactuallyexchanged.Thisexampleputsaspecificdollarvalueonconsumersurplus.InstructionsTelltheclass,“Anewtechnologyhasbeendevelopedthatallowsindividualstotravelbackwardorforwardintime.Wewanttoidentifythevaluethistimemachineprovidestoconsumers.Let’sassumethefourconsumerswhomostdesirethisproductareinthisclass.”Choosefourstudentnamesandusetheminthefollowingexample:“Scottistheconsumerwhomostvaluesthisproduct.Hewantstogobacktothetimeofthedinosaurs.Heiswillingtopay$3,000.”“Carolistheconsumerwiththenexthighestwillingnesstopay.Shewouldliketosee200yearsinthefuture.She’dpay$2,500.”“Steveisthenexthighestbidder.He’dliketorelivethisentiresemester.He’llpayupto$800.”“Jeanneisourfourthconsumer.She’dpay$200tomovetheclockforwardtotheendofthisclassperiod.”Ontheboardwrite:Scott$3,000Carol$2,500Steve$800Jeanne$200124❖Chapter7/Consumers