A fictitious country "Alpha" requires 20 hours of work to produce a barrel of wine and
4 hours of work to produce a bushel of corn. The economy has 20 workers who can
work10 hours per day.
(1) Draw the PPC (production possibility curve) for daily output of Alpha. Give the
numerical value of the intercepts. (5%)
(2) Alpha is considering opening up trade with a nearby country "Beta." Beta requires
10 hours of work to produce a barrel of wine and 20 hours of work to produce a
bushel of corn. Using your graph from part (a), show how trade with Beta affects
Alpha’s consumption possibilities. (5%)
(3) If Alpha begins trading with its neighbor "Delta," determine whether each of the
following groups will "win" or "lose". Give a short explanation for your answers.
(8%)
A firm's total cost function is TC = 300 + 0.5Q
(1) Graph the firm's TC, MC and AC functions. (3%)
(2) Find total fixed cost, total variable cost and average cost for this function. Break
average cost into average fixed cost and average variable cost. (3%)
(3) What happens to average variable cost and average fixed cost as output rises? (3%)
(4) Will AC ever equal MC? If so, at what quantity. If not, why not? (3%)
Suppose that 3-bedroom apartments rent for $15,000 a months in Puli a 8,000 a month
in Taichuang. If the government imposes a rent ceiling for apartment of 10,000 a month,
what would be the house renting market affected in the two areas? What would be
tenants and land lords in Puli affected?(20%)
如果名目工資隨著物價的變動而同比例的調整,則總合供給線AS 的形狀為何?
請依據總合需求線AD 及總合供給線AS 的圖形說明,此時失業率與物價上漲率
之間是否仍有抵換關係?(30%)
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