经济学原理 曼昆课后答案 chapter 7

更新时间:2023-06-13 02:23:40 阅读: 评论:0

Problems and Applications
1.    If an early freeze in California sours the lemon crop, the supply curve for lemons shifts to the left, as shown in Figure 7-5.  The result is a ri in the price of lemons and a decline in consumer surplus from A + B + C to just A.  So consumer surplus declines by the amount B + C.
Figure 7-5
In the market for lemonade, the higher cost of lemons reduces the supply of lemonade, as shown in Figure 7-6.  The result is a ri in the price of lemonade and a decline in consumer surplus from D + E + F to just D, a loss of E + F.  Note that an event that affects consumer surplus in one market often has effects on consumer surplus in other markets.
Figure 7-6
2.    A ri in the demand for French bread leads to an increa in producer surplus in the market for
vestige
French bread, as shown in Figure 7-7.  The shift of the demand curve leads to an incread price, which increas producer surplus from area A to area A + B + C.
Figure 7-7
The incread quantity of French bread being sold increas the demand for flour, as shown in Figure 7-8.  As a result, the price of flour ris, increasing producer surplus from area D to D + E + F.  Note that an event that affects producer surplus in one market leads to effects on producer surplus in related markets.
Figure 7-8
3.    a.    Bert’s demand schedule is:         
rpt
Price日久见人心的英文
Quantity Demanded
More than $7
0
$5 to $7
1
$3 to $5
2
$1 to $3
3receive的用法
$1 or less
4
relationalBert’s demand curve is shown in Figure 7-9.
Figure 7-9needyounow歌词
临时翻译
b.    When the price of a bottle of water is $4, Bert buys two bottles of water.  His consumer surplus is shown as area A in the figure.  He values his first bottle of water at $7, but pays only $4 for it, so has consumer surplus of $3.  He values his cond bottle of water at $5, but pays only $4 for it, so has consumer surplus of $1.  Thus Bert’s total consumer surplus is $3 + $1 = $4, which is the area of A in the figure.
c.    When the price of a bottle of water falls from $4 to $2, Bert buys three bottles of water, an increa of one.  His consumer surplus consists of both areas A and B in the figure, an increa in the amount of area B.  He gets consumer surplus of $5 from the first bottle ($7 value minus $2 price), $3 from the cond bottle ($5 value minus $2 price), and $1 from the third bottle ($3 value minus $2 price), for a total consumer surplus of $9.  Thus consumer surplus ris by $5 (which is the size of area B) when the price of a bottle of water falls from $4 to $2.
4.    a.    Ernie’s supply schedule for water is:
Price
Quantity Supplied
More than $7
4
voice of china$5 to $7
3
$3 to $5
2
$1 to $3
1
Less than $1
乐观英文0
Ernie’s supply curve is shown in Figure 7-10.
Figure 7-10
b.    When the price of a bottle of water is $4, Ernie lls two bottles of water.  His producer surplus is shown as area A in the figure.  He receives $4 for his first bottle of water, but it costs only $1 to produce, so Ernie has producer surplus of $3.  He also receives $4 for his cond bottle of water, which costs $3 to produce, so he has producer surplus of $1.  Thus Ernie’s total producer surplus is $3 + $1 = $4, which is the area of A in the figure.
c.    When the price of a bottle of water ris from $4 to $6, Ernie lls three bottles of water, an increa of one.  His producer surplus consists of both areas A and B in the figure, an increa by the amount of area B.  He gets producer surplus of $5 from the first bottle ($6 price minus $1 cost), $3 from the cond bottle ($6 price minus $3 cost), and $1 from the third bottle ($6 price minus $5 price), for a total producer surplus of $9.  Thus producer surplus ris by $5 (which is the size of area B) when the price of a bottle of water ris from $4 to $6.
5.    a.    From Ernie’s supply schedule and Bert’s demand schedule, the quantity demanded and supplied are:
Price
Quantity Supplied
Quantity Demanded
  $ 2
1
3
4
2
2返老还童剧情
6
3
1
Only a price of $4 brings supply and demand into equilibrium, with an equilibrium quantity of 2.
b.    At a price of $4, consumer surplus is $4 and producer surplus is $4, as shown in problems 3 and 4.  Total surplus is $4 + $4 = $8.
c.    If Ernie produced one fewer bottle, his producer surplus would decline to $3, as shown in problem 4.  If Bert consumed one fewer bottle, his consumer surplus would decline to $3, as shown in problem 3.  So total surplus would decline to $3 + $3 = $6.
d.    If Ernie produced one additional bottle of water, his cost would be $5, but the price is only $4, so his producer surplus would decline by $1.  If Bert consumed one additional bottle of water, his value would be $3, but the price is $4, so his consumer surplus would decline by $1.  So total surplus declines by $1 + $1 = $2.
6.    a.    The effect of falling production costs in the market for stereos results in a shift to the right in the supply curve, as shown in Figure 7-11.  As a result, the equilibrium price of stereos declines and the equilibrium quantity increas.

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