微观经济学辅导 | Econ 101 Summer Session C Midterm Version 10

本次美国辅导是微观经济学的限时测试

2 Test Questions: 60 Total Points

1. Monopoly. A monopolist sells to a population of consumers with willingness to pay that is uniform
between 5 and 10. That is:
f(w) =
8
<
:
1=5 if 5  x  10
0 else

You can assume the amount of consumers is normalized to 1 like in class. The monopolist has constant
marginal cost c.

a. Given willingness to pay, show how to derive demand and inverse demand. Hint: you should nd
that inverse demand is p(q) = 10 5q. (4 pts)

b. Solve for the monopolist price, quantity and total surplus.(8 pts)

c. Suppose that instead of a monopolist, there is perfect competition. Derive the price, quantity and
total surplus under perfect competition. (4 pts)

d. Suppose the government wants to maximize total surplus and institutes a price ceiling on the
monopolist. Which price ceiling should they choose if c = 2? (4 pts)

2. Static Game Theory. Consider the following game.

Player 2
A B C
Player 1
A (2; 2) ( 1; 2) ( 1; 2)
B ( 1; 1) (1; 1) ( 1; 2)
C ( 1; 1) ( 1; 2) (1; 1)

a. Are there any dominant strategies? Are there any dominated strategies? (2 pts)

b. Find all pure strategy Nash equilibrium. Write down the strategy pairs for each. (5 pts)

联系顾问微信, 24小时在线报价

SkyGPA是一家覆盖70+学科的课业辅导公司,我们为您提供100%原创、100%满意承诺,包括金融、经济、统计、Marketing、Accounting、Computer Science、MATH 数学、土木工程、生物信息、EE等多个学科的作业辅导服务
Follow Us
联系我们
Address

3262 La Jolla Village Dr, La Jolla, CA 92037

WeChat

skygpa

Email

skygpa@outlook.com