经济学原理曼昆课后答案chapter4文档格式.docx

经济学原理曼昆课后答案chapter4文档格式.docx

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tfindCadillacsasattractive.Inaddition,somepeoplewhoalreadyownCadillacswilltrytosellthem.TheresultisthatthedemandcurveforusedCadillacsshiftstotheleft,whilethesupplycurveshiftstotheright,asshowninFigure4-9.TheresultisadeclineintheequilibriumpriceofusedCadillacs.

Figure4-8

Figure4-9

2.Thestatementthat"

anincreaseinthedemandfornotebooksraisesthequantityofnotebooksdemanded,butnotthequantitysupplied"

isfalse,ingeneral.AsFigure4-10shows,theincreaseindemandfornotebooksresultsinanincreasedquantitysupplied.Theonlywaythestatementwouldbetrueisifthesupplycurvewereperfectlyinelastic,asshowninFigure4-11.

Figure4-10

Figure4-11

3.a.Ifpeopledecidetohavemorechildren（achangeintastes）,they'

llwantlargervehiclesforhaulingtheirkidsaround,sothedemandforminivanswillincrease.Supplywon'

tbeaffected.Theresultisariseinbothpriceandquantity,asFigure4-12shows.

Figure4-12

Figure4-13

b.Ifastrikebysteelworkersraisessteelprices,thecostsofproducingaminivanrise（ariseininputprices）,sothesupplyofminivansdecreases.Demandwon'

tbeaffected.Theresultisariseinthepriceofminivansandadeclineinthequantity,asFigure4-13shows.

c.Thedevelopmentofnewautomatedmachineryfortheproductionofminivansisanimprovementintechnology.Thereductioninfirms'

costsresultsinanincreaseinsupply.Demandisn'

taffected.Theresultisadeclineinthepriceofminivansandanincreaseinthequantity,asFigure4-14shows.

Figure4-14

Figure4-15

d.Theriseinthepriceofstationwagonsaffectsminivandemandbecausestationwagonsaresubstitutesforminivans（thatis,there'

sariseinthepriceofarelatedgood）.Theresultisanincreaseindemandforminivans.Supplyisn'

taffected.Inequilibrium,thepriceandquantityofminivansbothrise,asFigure4-12shows.

e.Thereductioninpeoples'

wealthcausedbyastock-marketcrashreducestheirincome,leadingtoareductioninthedemandforminivans,sinceminivansareanormalgood.Supplyisn’taffected.Asaresult,bothpriceandquantitydecline,asFigure4-15shows.

4.Technologicaladvancesthatreducethecostofproducingcomputerchipsrepresentadeclineinaninputpriceforproducingacomputer.Theresultisashifttotherightinthesupplyofcomputers,asshowninFigure4-16.Theequilibriumpricefallsandtheequilibriumquantityrises,asthefigureshows.

Figure4-16

Figure4-17

Sincecomputersoftwareisacomplementtocomputers,theincreasedequilibriumquantityofcomputersincreasesthedemandforsoftware.AsFigure4-17shows,theresultisariseinboththeequilibriumpriceandquantityofsoftware.

Sincetypewritersaresubstitutesforcomputers,theincreasedequilibriumquantityofcomputersreducesthedemandfortypewriters.AsFigure4-18shows,theresultisadeclineinboththeequilibriumpriceandquantityoftypewriters.

Figure4-18

5.a.WhenahurricaneinSouthCarolinadamagesthecottoncrop,itraisesinputpricesforproducingsweatshirts.Asaresult,thesupplyofsweatshirtsshiftstotheleft,asshowninFigure4-19.Thenewequilibriumhasahigherpriceandlowerquantityofsweatshirts.

Figure4-19

b.Adeclineinthepriceofleatherjacketsleadsmorepeopletobuyleatherjackets,reducingthedemandforsweatshirts.Theresult,showninFigure4-20,isadeclineinboththeequilibriumpriceandquantityofsweatshirts.

Figure4-20

c.Theeffectsofcollegesrequiringstudentstoengageinmorningcalisthenicsinappropriateattireraisesthedemandforsweatshirts,asshowninFigure4-21.Theresultisanincreaseinboththeequilibriumpriceandquantityofsweatshirts.

Figure4-21

d.Theinventionofnewknittingmachinesincreasesthesupplyofsweatshirts.AsFigure4-22shows,theresultisareductionintheequilibriumpriceandanincreaseintheequilibriumquantityofsweatshirts.

Figure4-22

6.Atemporarilyhighbirthrateintheyear2005leadstooppositeeffectsonthepriceofbabysittingservicesintheyears2010and2020.Intheyear2010,therearemore5-yearoldswhoneedsitters,sothedemandforbabysittingservicesrises,asshowninFigure4-23.Theresultisahigherpriceforbabysittingservicesin2010.However,intheyear2020,theincreasednumberof15-yearoldsshiftsthesupplyofbabysittingservicestotheright,asshowninFigure4-24.Theresultisadeclineinthepriceofbabysittingservices.

Figure4-23

Figure4-24

7.Sinceketchupisacomplementforhotdogs,whenthepriceofhotdogsrises,thequantitydemandedofhotdogsfalls,thusreducingthedemandforketchup,causingbothpriceandquantityofketchuptofall.Sincethequantityofketchupfalls,thedemandfortomatoesbyketchupproducersfalls,sobothpriceandquantityoftomatoesfall.Whenthepriceoftomatoesfalls,producersoftomatojuicefacelowerinputprices,sothesupplycurvefortomatojuiceshiftsdown,causingthepriceoftomatojuicetofallandthequantityoftomatojuicetorise.Thefallinthepriceoftomatojuicecausespeopletosubstitutetomatojuicefororangejuice,sothedemandfororangejuicedeclines,causingthepriceandquantityoforangejuicetofall.Nowyoucanseeclearlywhyariseinthepriceofhotdogsleadstoafallinpriceoforangejuice!

Figure4-25

8.a.Cigarsandchewingtobaccoaresubstitutesforcigarettes,sinceahigherpriceforcigaretteswouldincreasedemandforcigarsandchewingtobacco.

b.Anincreaseinthetaxoncigarettesleadstoincreaseddemandforcigarsandchewingtobacco.Theresult,asshowninFigure4-25forcigars,isariseinboththeequilibriumpriceandquantityofcigarsandchewingtobacco.

c.Theresultsinpart（b）showedthatataxoncigarettesleadspeopletosubstitutecigarsandchewingtobaccoforcigaretteswhenthetaxoncigarettesrises.Toreducetotaltobaccousage,policymakersmightalsowanttoincreasethetaxoncigarsandchewingtobacco,orpursuesometypeofpubliceducationprogram.

9

.Quantitysuppliedequalsquantitydemandedatapriceof$6andquantityof81pizzas（Figure4-26）.Ifpriceweregreaterthan$6,quantitysuppliedwouldexceedquantitydemanded,sosupplierswouldreducetheirpricetogainsales.Ifpricewerelessthan$6,quantitydemandedwouldexceedquantitysupplied,sosupplierscouldraisetheirpricewithoutlosingsales.Inbothcases,thepricewouldcontinuetoadjustuntilitreached$6,theonlypriceatwhichthere'

sneithersurplusnorshortage.

Figure4-26

10

.a.Ifthepriceofflourfalls,sinceflourisaningredientinbagels,thesupplycurveforbagelswouldshifttotheright.Theresult,showninFigure4-27,wouldbeafallinthepriceofbagelsandariseintheequilibriumquantityofbagels.

Sincecreamcheeseisacomplementtobagels,theriseinquantitydemandedofbagelsincreasesthedemandforcreamcheese,asshowninFigure4-28.Theresultisariseinboththeequilibriumpriceandquantityofcreamcheese.So,afallinthepriceofflourindeedraisesboththeequilibriumpriceofcreamcheeseandtheequilibriumquantityofbagels.

Figure4-27

Figure4-28

WhathappensifthepriceofmilkfallsSincemilkisaningredientincreamcheese,thefallinthepriceofmilkleadstoanincreaseinthesupplyofcreamcheese.Thisleadstoadecreaseinthepriceofcreamcheese（Figure4-29）,ratherthanariseinthepriceofcreamcheese.Soafallinthepriceofmilkcouldn'

thavebeenresponsibleforthepatternobserved.

Figure4-29

Figure4-30

b.Inpart（a）,wefoundthatafallinthepriceofflourledtoariseinthepriceofcreamcheeseandariseintheequilibriumquantityofbagels.Ifthepriceofflourrose,theoppositewouldbetrue;

itwouldleadtoafallinthepriceofcreamcheeseandafallintheequilibriumquantityofbagels.Sincethequestionsaystheequilibriumpriceofcreamcheesehasrisen,itcouldn'

thavebeencausedbyariseinthepriceofflour.

WhathappensifthepriceofmilkrisesFrompart（a）,wefoundthatafallinthepriceofmilkcausedadeclineinthepriceofcreamcheese,soariseinthepriceofmilkwouldcauseariseinthepriceofcreamcheese.Sincebagelsandcreamcheesearecomplements,theriseinthepriceofcreamcheesewouldreducethedemandforbagels,asFigure4-30shows.Theresultisadeclineintheequilibriumquantityofbagels.Soarisei