ch06习题Word文档格式.docx

ch06习题Word文档格式.docx

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2.Withnotax,asshowninFigure1,thedemandcurveisD1andthesupplycurveisS.TheequilibriumpriceisP1andtheequilibriumquantityisQ1.Ifthetaxisimposedoncarbuyers,thedemandcurveshiftsdownbytheamountofthetax（$1000）toD2.ThedownwardshiftinthedemandcurveleadstoadeclineintheequilibriumpricetoP2（theamountreceivedbysellersfrombuyers）andadeclineintheequilibriumquantitytoQ2.ThepricereceivedbysellersdeclinesbyP1–P2,showninthefigureasPS.BuyerspayatotalofP2+$1,000,anincreaseinwhattheypayofP2+$1,000-P1,showninthefigureasPB.

Figure1

Ifthetaxisimposedoncarsellers,asshowninFigure2,thesupplycurveshiftsupbytheamountofthetax（$1000）toS2.TheupwardshiftinthesupplycurveleadstoariseintheequilibriumpricetoP2（theamountreceivedbysellersfrombuyers）andadeclineintheequilibriumquantitytoQ2.ThepricepaidbybuyersdeclinesbyP1-P2,showninthefigureasPB.SellersreceiveP2andpaytaxesof$1,000,receivingonnetP2-$1,000,adecreaseinwhattheyreceivebyP1-（P2-$1,000）,showninthefigureasPS.

Figure2

QuestionsforReview

1.AnexampleofapriceceilingistherentcontrolsysteminNewYorkCity.Anexampleofapriceflooristheminimumwage.Manyotherexamplesarepossible.

2.Ashortageofagoodariseswhenthereisabindingpriceceiling.Asurplusofagoodariseswhenthereisabindingpricefloor.

3.Whenthepriceofagoodisnotallowedtobringsupplyanddemandintoequilibrium,somealternativemechanismmustallocateresources.Ifquantitysuppliedexceedsquantitydemanded,sothatthereisasurplusofagoodasinthecaseofabindingpricefloor,sellersmaytrytoappealtothepersonalbiasesofthebuyers.Ifquantitydemandedexceedsquantitysupplied,sothatthereisashortageofagoodasinthecaseofabindingpriceceiling,sellerscanrationthegoodaccordingtotheirpersonalbiases,ormakebuyerswaitinline.

4.Economistsusuallyopposecontrolsonpricesbecausepriceshavethecrucialjobofcoordinatingeconomicactivitybybalancingdemandandsupply.Whenpolicymakerssetcontrolsonprices,theyobscurethesignalsthatguidetheallocationofsociety’sresources.Further,pricecontrolsoftenhurtthosetheyaretryingtohelp.

5.Ataxpaidbybuyersshiftsthedemandcurve,whileataxpaidbysellersshiftsthesupplycurve.However,theoutcomeisthesameregardlessofwhopaysthetax.

6.Ataxonagoodraisesthepricebuyerspay,lowersthepricesellersreceive,andreducesthequantitysold.

7.Theburdenofataxisdividedbetweenbuyersandsellersdependingontheelasticityofdemandandsupply.Elasticityrepresentsthewillingnessofbuyersorsellerstoleavethemarket,whichinturnsdependsontheiralternatives.Whenagoodistaxed,thesideofthemarketwithfewergoodalternativescannoteasilyleavethemarketandthusbearsmoreoftheburdenofthetax.

ProblemsandApplications

1.Ifthepriceceilingof$40perticketisbelowtheequilibriumprice,thenquantitydemandedexceedsquantitysupplied,sotherewillbeashortageoftickets.Thepolicydecreasesthenumberofpeoplewhoattendclassicalmusicconcerts,sincethequantitysuppliedislowerbecauseofthelowerprice.

2.a.TheimpositionofabindingpricefloorinthecheesemarketisshowninFigure3.Intheabsenceofthepricefloor,thepricewouldbeP1andthequantitywouldbeQ1.WiththefloorsetatPf,whichisgreaterthanP1,thequantitydemandedisQ2,whilequantitysuppliedisQ3,sothereisasurplusofcheeseintheamountQ3–Q2.

b.Thefarmers’complaintthattheirtotalrevenuehasdeclinediscorrectifdemandiselastic.Withelasticdemand,thepercentagedeclineinquantitywouldexceedthepercentageriseinprice,sototalrevenuewoulddecline.

c.Ifthegovernmentpurchasesallthesurpluscheeseatthepricefloor,producersbenefitandtaxpayerslose.ProducerswouldproducequantityQ3ofcheese,andtheirtotalrevenuewouldincreasesubstantially.ButconsumerswouldbuyonlyquantityQ2ofcheese,sotheyareinthesamepositionasbefore.Taxpayerslosebecausetheywouldbefinancingthepurchaseofthesurpluscheesethroughhighertaxes.

Figure3

3.a.TheequilibriumpriceofFrisbeesis$8andtheequilibriumquantityis6millionFrisbees.

b.Withapricefloorof$10,thenewmarketpriceis$10sincethepricefloorisbinding.Atthatprice,only2millionFrisbeesaresold,sincethat’sthequantitydemanded.

c.Ifthere’sapriceceilingof$9,ithasnoeffect,sincethemarketequilibriumpriceis$8,belowtheceiling.Sotheequilibriumpriceis$8andtheequilibriumquantityis6millionFrisbees.

4.a.Figure4showsthemarketforbeerwithoutthetax.TheequilibriumpriceisP1andtheequilibriumquantityisQ1.Thepricepaidbyconsumersisthesameasthepricereceivedbyproducers.

Figure4

Figure5

b.Whenthetaxisimposed,itdrivesawedgeof$2betweensupplyanddemand,asshowninFigure5.ThepricepaidbyconsumersisP2,whilethepricereceivedbyproducersisP2–$2.ThequantityofbeersolddeclinestoQ2.

5.Reducingthepayrolltaxpaidbyfirmsandusingpartoftheextrarevenuetoreducethepayrolltaxpaidbyworkerswouldnotmakeworkersbetteroff,becausethedivisionoftheburdenofataxdependsontheelasticityofsupplyanddemandandnotonwhomustpaythetax.Sincethetaxwedgewouldbelarger,itislikelythatbothfirmsandworkers,whosharetheburdenofanytax,wouldbeworseoff.

6.Ifthegovernmentimposesa$500taxonluxurycars,thepricepaidbyconsumerswillriselessthan$500,ingeneral.Theburdenofanytaxissharedbybothproducersandconsumersthepricepaidbyconsumersrisesandthepricereceivedbyproducersfalls,withthedifferencebetweenthetwoequaltotheamountofthetax.Theonlyexceptionswouldbeifthesupplycurvewereperfectlyelasticorthedemandcurvewereperfectlyinelastic,inwhichcaseconsumerswouldbearthefullburdenofthetaxandthepricepaidbyconsumerswouldrisebyexactly$500.

7.a.Itdoesn’tmatterwhetherthetaxisimposedonproducersorconsumerstheeffectwillbethesame.Withnotax,asshowninFigure6,thedemandcurveisD1andthesupplycurveisS1.Ifthetaxisimposedonproducers,thesupplycurveshiftsupbytheamountofthetax（50cents）toS2.ThentheequilibriumquantityisQ2,thepricepaidbyconsumersisP2,andthepricereceived（aftertaxesarepaid）byproducersisP2–50cents.Ifthetaxisinsteadimposedonconsumers,thedemandcurveshiftsdownbytheamountofthetax（50cents）toD2.Thedownwardshiftinthedemandcurve（whenthetaxisimposedonconsumers）isexactlythesamemagnitudeastheupwardshiftinthesupplycurvewhenthetaxisimposedonproducers.Soagain,theequilibriumquantityisQ2,thepricepaidbyconsumersisP2（includingthetaxpaidtothegovernment）,andthepricereceivedbyproducersisP2–50cents.

Figure6

b.Themoreelasticisthedemandcurve,themoreeffectivethistaxwillbeinreducingthequantityofgasolineconsumed.Greaterelasticityofdemandmeansthatquantityfallsmoreinresponsetotheriseinthepriceofgasoline.Figure7illustratesthisresult.DemandcurveD1representsanelasticdemandcurve,whiledemandcurveD2ismoreinelastic.TogetthesametaxwedgebetweendemandandsupplyrequiresagreaterreductioninquantitywithdemandcurveD1thanfordemandcurveD2.

Figure7

c.Theconsumersofgasolinearehurtbythetaxbecausetheygetlessgasolineatahigherprice.

d.Workersintheoilindustryarehurtbythetaxaswell.Withalowerquantityofgasolinebeingproduced,someworkersmaylosetheirjobs.Withalowerpricereceivedbyproducers,wagesofworkersmightdecline.

8.a.Figure8showstheeffectsoftheminimumwage.Intheabsenceoftheminimumwage,themarketwagewouldbew1andQ1workerswouldbeemployed.Withtheminimumwage（wm）imposedabovew1,themarketwageiswm,thenumberofemployedworkersisQ2,andthenumberofworkerswhoareunemployedisQ3-Q2.TotalwagepaymentstoworkersareshownastheareaofrectangleABCD,whichequalswmtimesQ2.

Figure8

b.Anincreaseintheminimumwagewoulddecreaseemployment.Thesizeoftheeffectonemploymentdependsonlyontheelasticityofdemand.Theelasticityofsupplydoesn’tmatter,becausethere’sasurplusoflabor.

c.Theincreaseintheminimumwagewouldincreaseunemployment.Thesizeoftheriseinunemploymentdependsonboththeelasticitiesofsupplyanddemand.Theelasticityofdemanddeterminesthequantityoflabordemanded,theelasticityofsupplydeterminesthequantityoflaborsupplied,andthedifferencebetweenthequantitysuppliedanddemandedoflaboristheamountofunemployment.

d.Ifthedemandforunskilledlaborwereinelastic,theriseintheminimumwagewouldincreasetotal