Главная страница | Контакты | Случайная страница Автомобили Астрономия Биология География Дом и сад Другие языки Другое Информатика История Культура Литература Логика Математика Медицина Металлургия Механика Образование Охрана труда Педагогика Политика Право Психология Религия Риторика Социология Спорт Строительство Технология Туризм Физика Философия Финансы Химия Черчение Экология Экономика Электроника

The analysis of consumer behavior

Problems on microeconomics

Demand and supply in market mechanism

1. There are 2 markets of commodity A. The demand function on the 1^st market is D₁ =25 -р, the supply function is S₁ = -11+ 2р. On the 2^nd market demand function is D₂ = 60 — 2р, supply function is S₂ = -20 + 2р. Estimate changes in market price and volume in the case if markets unite.

2. The price of commodity has increased from 0,5 to 1 dol. and volume of demand has decreased from 10 to 9 units. Determine the coefficient of price elasticity and comment the result.

3. The price of commodity has increased from 1,5 to 2 dol. and volume of supply has increased from 10 to 12 units. Determine the coefficient of price elasticity and comment the result.

4. Functions of demand and supply are: Qs = 1000 + 20 P; Qd = 200 + 30 P. Find the price and volume of equilibrium. What will happen if supply curve shifts to the right?

5. Functions of demand and supply are: Q_d = 1000-40 Р; Q_s = 300 + 30 Р. Find the price and volume of equilibrium. What will happen with market equilibrium in the case if government sets fixed price – 6 dol.

6. Magnitudes of of supply and demand are done in the table.

Find:

1. Price elasticity of demand if price equals 8 and 10 dol. per unit.

2. Price and volume of equilibrium.

The analysis of consumer behavior

1. Magnitudes of marginal utilities’ are done in the table.

Find the marginal utility of food B in the point of consumer equilibrium.

2. The price of good X is1,5 dol., the price of good Y is 1 dol. Find marginal utility of X if marginal utility of Y is 30 utile and consumer tries to maximize his utility.

3. The income of consumer is 8 dol. The price of commodity A is 1 doll., the price of commodity B is 0,5 dol. Build the budget line of consumer.

4. Indifference curve and budget line are represented on the graph. The price of commodity X is 8 dollars. Find:

a) Price of commodity Y?

b) Equation of budget line?

c) Marginal rate of substitution in the point of consumer equilibrium?

5. Build budget line of consumer if equation of budget line is 300 = 5Qх + 10Qу, where, 300 dollars – is consumer income, Qх – is quantity of good X, 5 dollars – is a price of good X; Qу – is quantity of good Y, 10 dollars – price of good Y. How will budget line change if income rise up to 400 dollars, price of good X isn’t change and price of Y rise up to 20 dollars.

6. Budget of consumer is 54 dollars, MU_X = 60 – 2Q_X; MU_Y = 48 – Q_Y; P_X = 2 dol.; Р_Y = 4 dol. Find quantity of goods X and Y in the point of consumer equilibrium.

7. Preferences of consumer are:

Quantity of goods 1 2 3 4 5

Total utility 100 120 135 145 153

Find: marginal and average utility of the 2, 3, 4, 5 unit and explain the tendency of their change.

6. Microeconomic model of firm модель фірми

1. Labour is the only variable input, all other inputs are fixed.

Quantity of labour, persons..... 0 1 2 3 4 5 6

Output, units......0 40 90 126 150 165 180

With which laborer employment will marginal product start decreasing? Estimate marginal product of the 6^th laborer? Which quantity of labour should we employ for average product maximization?

2. Write formulas for marginal and average product and find unknown variables in the table?