经济学原理曼昆课后答案chapter4文档格式.docx

1、t find Cadillacs as attractive. In addition, some people who already own Cadillacs will try to sell them. The result is that the demand curve for used Cadillacs shifts to the left, while the supply curve shifts to the right, as shown in Figure 4-9. The result is a decline in the equilibrium price of

2、 used Cadillacs.Figure 4-8Figure 4-92. The statement that an increase in the demand for notebooks raises the quantity of notebooks demanded, but not the quantity supplied is false, in general. As Figure 4-10 shows, the increase in demand for notebooks results in an increased quantity supplied. The o

3、nly way the statement would be true is if the supply curve were perfectly inelastic, as shown in Figure 4-11.Figure 4-10Figure 4-113. a. If people decide to have more children （a change in tastes）, theyll want larger vehicles for hauling their kids around, so the demand for minivans will increase. S

4、upply wont be affected. The result is a rise in both price and quantity, as Figure 4-12 shows.Figure 4-12Figure 4-13 b. If a strike by steelworkers raises steel prices, the costs of producing a minivan rise （a rise in input prices）, so the supply of minivans decreases. Demand wont be affected. The r

5、esult is a rise in the price of minivans and a decline in the quantity, as Figure 4-13 shows.c. The development of new automated machinery for the production of minivans is an improvement in technology. The reduction in firms costs results in an increase in supply. Demand isnt affected. The result i

6、s a decline in the price of minivans and an increase in the quantity, as Figure 4-14 shows.Figure 4-14Figure 4-15d. The rise in the price of station wagons affects minivan demand because station wagons are substitutes for minivans （that is, theres a rise in the price of a related good）. The result i

7、s an increase in demand for minivans. Supply isnt affected. In equilibrium, the price and quantity of minivans both rise, as Figure 4-12 shows.e. The reduction in peoples wealth caused by a stock-market crash reduces their income, leading to a reduction in the demand for minivans, since minivans are

8、 a normal good. Supply isnt affected. As a result, both price and quantity decline, as Figure 4-15 shows.4. Technological advances that reduce the cost of producing computer chips represent a decline in an input price for producing a computer. The result is a shift to the right in the supply of comp

9、uters, as shown in Figure 4-16. The equilibrium price falls and the equilibrium quantity rises, as the figure shows.Figure 4-16Figure 4-17Since computer software is a complement to computers, the increased equilibrium quantity of computers increases the demand for software. As Figure 4-17 shows, the

10、 result is a rise in both the equilibrium price and quantity of software. Since typewriters are substitutes for computers, the increased equilibrium quantity of computers reduces the demand for typewriters. As Figure 4-18 shows, the result is a decline in both the equilibrium price and quantity of t

11、ypewriters.Figure 4-185. a. When a hurricane in South Carolina damages the cotton crop, it raises input prices for producing sweatshirts. As a result, the supply of sweatshirts shifts to the left, as shown in Figure 4-19. The new equilibrium has a higher price and lower quantity of sweatshirts.Figur

12、e 4-19b. A decline in the price of leather jackets leads more people to buy leather jackets, reducing the demand for sweatshirts. The result, shown in Figure 4-20, is a decline in both the equilibrium price and quantity of sweatshirts.Figure 4-20 c. The effects of colleges requiring students to enga

13、ge in morning calisthenics in appropriate attire raises the demand for sweatshirts, as shown in Figure 4-21. The result is an increase in both the equilibrium price and quantity of sweatshirts.Figure 4-21d. The invention of new knitting machines increases the supply of sweatshirts. As Figure 4-22 sh

14、ows, the result is a reduction in the equilibrium price and an increase in the equilibrium quantity of sweatshirts.Figure 4-226. A temporarily high birth rate in the year 2005 leads to opposite effects on the price of babysitting services in the years 2010 and 2020. In the year 2010, there are more

15、5-year olds who need sitters, so the demand for babysitting services rises, as shown in Figure 4-23. The result is a higher price for babysitting services in 2010. However, in the year 2020, the increased number of 15-year olds shifts the supply of babysitting services to the right, as shown in Figu

16、re 4-24. The result is a decline in the price of babysitting services.Figure 4-23Figure 4-247. Since ketchup is a complement for hot dogs, when the price of hot dogs rises, the quantity demanded of hot dogs falls, thus reducing the demand for ketchup, causing both price and quantity of ketchup to fa

17、ll. Since the quantity of ketchup falls, the demand for tomatoes by ketchup producers falls, so both price and quantity of tomatoes fall. When the price of tomatoes falls, producers of tomato juice face lower input prices, so the supply curve for tomato juice shifts down, causing the price of tomato

18、 juice to fall and the quantity of tomato juice to rise. The fall in the price of tomato juice causes people to substitute tomato juice for orange juice, so the demand for orange juice declines, causing the price and quantity of orange juice to fall. Now you can see clearly why a rise in the price o

19、f hot dogs leads to a fall in price of orange juice!Figure 4-258. a. Cigars and chewing tobacco are substitutes for cigarettes, since a higher price for cigarettes would increase demand for cigars and chewing tobacco.b. An increase in the tax on cigarettes leads to increased demand for cigars and ch

20、ewing tobacco. The result, as shown in Figure 4-25 for cigars, is a rise in both the equilibrium price and quantity of cigars and chewing tobacco.c. The results in part （b） showed that a tax on cigarettes leads people to substitute cigars and chewing tobacco for cigarettes when the tax on cigarettes

21、 rises. To reduce total tobacco usage, policymakers might also want to increase the tax on cigars and chewing tobacco, or pursue some type of public education program.9. Quantity supplied equals quantity demanded at a price of $6 and quantity of 81 pizzas （Figure 4-26）. If price were greater than $6

22、, quantity supplied would exceed quantity demanded, so suppliers would reduce their price to gain sales. If price were less than $6, quantity demanded would exceed quantity supplied, so suppliers could raise their price without losing sales. In both cases, the price would continue to adjust until it

23、 reached $6, the only price at which theres neither surplus nor shortage.Figure 4-2610. a. If the price of flour falls, since flour is an ingredient in bagels, the supply curve for bagels would shift to the right. The result, shown in Figure 4-27, would be a fall in the price of bagels and a rise in

24、 the equilibrium quantity of bagels.Since cream cheese is a complement to bagels, the rise in quantity demanded of bagels increases the demand for cream cheese, as shown in Figure 4-28. The result is a rise in both the equilibrium price and quantity of cream cheese. So, a fall in the price of flour

25、indeed raises both the equilibrium price of cream cheese and the equilibrium quantity of bagels.Figure 4-27Figure 4-28What happens if the price of milk falls Since milk is an ingredient in cream cheese, the fall in the price of milk leads to an increase in the supply of cream cheese. This leads to a

26、 decrease in the price of cream cheese （Figure 4-29）, rather than a rise in the price of cream cheese. So a fall in the price of milk couldnt have been responsible for the pattern observed.Figure 4-29Figure 4-30b. In part （a）, we found that a fall in the price of flour led to a rise in the price of

27、cream cheese and a rise in the equilibrium quantity of bagels. If the price of flour rose, the opposite would be true; it would lead to a fall in the price of cream cheese and a fall in the equilibrium quantity of bagels. Since the question says the equilibrium price of cream cheese has risen, it co

28、uldnt have been caused by a rise in the price of flour.What happens if the price of milk rises From part （a）, we found that a fall in the price of milk caused a decline in the price of cream cheese, so a rise in the price of milk would cause a rise in the price of cream cheese. Since bagels and cream cheese are complements, the rise in the price of cream cheese would reduce the demand for bagels, as Figure 4-30 shows. The result is a decline in the equilibrium quantity of bagels. So a rise i