经济学基础Chap005Word文档格式.docx

经济学基础Chap005Word文档格式.docx

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l.Isyourschoolcurrentlyproducingatcapacity（i.e.,teachingasmanystudentsaspossible）?

Whatconsiderationsmightinhibitfullcapacityutilization?

LO:

1AACSB:

AnalyticBT:

Create

Theremaybeemptyseatsinyourclassroomthatindicateunusedcapacity.Althoughitwouldbeimpracticaltoofferclassesaroundtheclock,capacityutilizationhasincreasedasmanyschoolshaveaddedearlymorning,night,andweekendclassestotraditionalMondaythroughFridaydaytimeclasses.Itisdifficulttoenrolltheexactnumberofstudentstofillupeachclassroomforeverycourseandevenifitwerepossible,somestudentswouldstilldropoutofspecificclassesoreventheschool.Duetothenatureofoureducationalsystem,thesestudentscannotbereplacedduringthemiddleofasemester.

2.Whataretheproductioncostsofyoureconomicsclass?

Whatarethefixedcosts?

Thevariablecosts?

Whatisthemarginalcostofenrollingmorestudents?

3AACSB:

Analyze

Thefixedcostsarethecostsofprovidingtheclassroomanditsequipment,somelevelofutilities,andtheproratedshareoftheuniversity'

sinfrastructureattributedtothisclass.Thevariablecostsincludethecostoftheinstructor,materials（chalkormarkers,handouts）,andsomeadditionalutilities.Themarginalcostofenrollingonemorestudentisnearlyzeroaslongasthereisaseatavailableintheclassroom.

3.Supposeyousetupalawn-mowingserviceandrecruitedfriendstohelpyou.Wouldthelawofdiminishingreturnsapply?

Explain.

2AACSB:

Intheshortrun,yes.Asmoreandmorefriendshelped,therewouldbecapitalconstraintssuchasalimitednumberoflawnmowers,rakes,etc.Sharingthetoolsreduceseachworker’sproductivity.Also,theymighttendtogetineachother’swayandbickerandfuss.Theresultwouldbetodecreasetheoutputofeachaddedworkeroverthatofthepreviousworker.

4.Whatarethefixedcostsof（a）apizzashop,（b）anInternetServiceProvider,（c）acornfarm?

Whoneedsthehighestsalesvolumetoearnaprofit?

（a）Thefixedcostsofapizzashopincluderentonthebuilding（eveniftheyownthebuildingthereisanopportunitycost）,insurance,someminimallevelofutilities（forexample,forsecurityandsignage）,ovensandotherequipment,deliverycars,etc.

（b）ThefixedcostsofanInternetServiceProviderincluderentonthebuilding,thecomputerservers,thesoftwarenecessarytoprovideaccesstotheInternet,andadedicatedtelephoneline.

（c）Thefixedcostsofacornfarmincludetheland,buildings,tractors,combines,andotherequipment.

Whicheverbusinesshasthehighestfixedcostsneedsthehighestsalesvolumetoearnaprofit.

5.Owner-operatorsofsmallgasstationsrarelypaythemselvesanhourlywage.Doesthispracticereducetheeconomiccostofdispensinggasoline?

5AACSB:

No,thispracticedoesnotreducetheeconomiccostofdispensinggasoline.Itcanchangetheaccountingcost,butnottheeconomiccost.Economistsfocusonopportunitycosts;

theyincludeanallowanceforhowmuchtheownercouldhaveearnedinanalternativejob.

6.IntheNewsWireonpage99,whydidMPPfalltozero?

Whatwastheopportunitycostofthosesurplusworkers?

Evaluate

Asmoreworkersarehiredinagivenplant,MPPdeclines.Iftoomanyarehired,MPPmayevenfalltozero,orless.Inthiscase,theHeadlinetellsusthatthereweresurplus,i.e.,toomany,workers.Theopportunitycosttothestateofthesurplusworkerswaswhattheycouldhavedoneelsewherehadtheynothiredthem.Or,thiscouldincludepurchasingequipmentsothattheproductivityoftheworkforcewouldincrease.

7.WhatroledoexpectationsplayintheproductionandinvestmentdecisionsdescribedintheNewsWireonpage107?

AccordingtotheNewsWire,NissanisexpandingtheproductionatitsBarcelonaplantbyhiringanadditional1,000workers.Nissanplanstocreateanewcompactcarandincreaseoutputofapickuptruckalreadybeingmanufacturedthere.Thisproductiondecision–afocusontheshort-runuseofexistingfacilities–isbasedontheexpectationthatconsumerswillbewillingandabletopurchasethesevehicles.

Fiat,ontheotherhand,islookingforawholenewlocationforproduction.Theyareconsideringopeningaplanttomanufacturethebrand’ssport-utilityvehiclesinRussiainanattempttoexpandJeep’sglobalreach.Thisinvestmentdecision–afocusonthelong-runacquisitionofproductivefacilities–isanattempttoexpandJeep’sglobalreach.Thisdecisionisbasedontheexpectation（aswiththeNissanexample）thatconsumerswillbewilling