Download Übungen 6-7 web [Kompatibilitätsmodus]

Übungen zur Vorlesung
„Einführung in die
Volkswirtschaftslehre“
VWL 1
Übungen Kapitel 6-7
Beat Spirig
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.2a,b, Cheese Market
TR1
TR2
p2
With elastic
demand TR1>TR2
p1
q2
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q1
q3
2
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.2b, Cheese Market with inelastic demand
px
Inelastic Demand
S
TR1 < TR2
p2
p1
D
q1
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q2
qx
3
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.2c, Government buys cheese surplus
TR1
Gov
p2
Producers produce q3 and
earn TR2 which is clearly
greater than TR1. But
consumers only buy q2, so
they are in the „same“
position as before.
Taxpayers however lose
because they have to
finance the purchase of the
surplus of cheese through
higher taxes.
p1
q2
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TR2
q1
q3
Q: Who are the
taxpayers?
4
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.3, Frisbees
Equilibrium Price/Quantity?
From the table we see at €8 the demand
and supply is 6 million frisbees.
a) Price floor (Mindestpreis) of €10 leads to a decrease of the quantity
demanded to only 2 million frisbees. Therefore 2 million frisbees are
sold. Price floor is binding since it is above the market equilibrium
price.
b) Price ceiling (Höchstpreis) of €9 is not binding since it lies above
the market equilibrium price of €8. Therefore it has no effect. 6
million frisbees will be sold at €8.
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5
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.7, petrol and air pollution
a) It does not really matter. If
the tax is imposed on the
producers the S shifts up by
the amount of the tax. If the tax
is imposed on the consumers
the D shifts down by the
amount of the tax. The price
paid by the consumers is P2
and the Price received by the
producers is P2- €0.50.
p2
p1
p2-€0.50
q2 q1
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6
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.7b,c,d
b) If the demand curve is more elastic the more effective the tax will be
in reducing the quantity of petrol demanded. The consumers will react
with a more dramatic cut in their consumption of petrol.
c) Consumers are „hurt“ by the tax because they will get less petrol at a
higher price than before.
However they may still be in favour of the tax because of the reduction
of air pollution (externality).
d) Because the producers of petrol, the oil industry, receive lower
prices and sell lower quantities of petrol. Workers in the oil industry
may face lower wages or may lose their jobs.
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7
Market wage? Employed?
Unemployed?
Wage w
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.8a, Minimum wages
Unemployment
S
wm
w1
D
q2
q1
Unemployment shows
here the difference
between the people
willing to work at wage
wm and those that
actually get employed.
It does not require that
everybody is claiming
for unemployment
benefits.
q3 Q of Labour
Total wage payments
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8
Wage w
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.8b, Increase in minimum wages
What happens with
employment?
Elasticity?
Elasticity of demand
has an impact!
S
Elasticity of supply
does not matter
because there is a
surplus of supply.
wm‘
wm
w1
De
D
q2
q2‘
q1
q3 Q of Labour
Employment
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9
Wage w
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.8c, Increase in minimum wages
What happens with Unemployment?
Elasticity effect?
Unemployment
S
wm‘
wm
Se
Elasticity of demand
and supply have an
impact!
w1
De
D
q2‘‘ q2
q2‘
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q1
q3
q3‘‘
Q of Labour
10
Wage w
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.8d, Minimum wages
S
With an inelastic demand
the total wage payment
would increase.
D
Q of Labour
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11
Wage w
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.8d, Minimum wages
S
D
With an elastic demand
the total wage payment
would decrease.
Q of Labour
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12
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 6.9, subsidy
a) Demand shifts up by
€0.50 at each quantity.
After the subsidy the
consumers effectively pay
p2 and the seller receives
p2 + €0.50
p2 + €0.50
b) Because of the
subsidy the consumers
are better off. They
consume more at a lower
price. Sellers are also
better off since they sell
more at a higher price.
Government loses since
it pays for the subsidy.
p1
p2
q1
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Do you agree?
q2
13
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 7.1, Freeze
S‘
A
p2
B
C
In the apple-market the
consumer surplus
decreases from ABC to
A.
What happens in the
cider-market?
p1
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14
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 7.6, DVD players
a,b) Cost of producing
falls. What happens to
price, quantity?
S
p
CS, PS?
A
CS1 = A
CS2 = A + B + C +D
S2
PS1 = B + E
B
C D
E
F
PS2 = E + F + G
G
c) If S is very
elastic? Who
benefits most?
D
q
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15
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 7.8a, Technological advance
Technological advance
reduces costs of making
computers. What
happens to price,
quantity, CS, PS and
TS?
S
p
A
S2
B
CS1 = A
CS2 = A + B + C +D
C D
E
F
PS1 = B + E
PS2 = E + F + G
G
Note: Change (∆) in PS is not clear.
+F+G but – B. Increase in q increases
PS but the decline in p decreases PS.
∆TS = ∆CS + ∆PS
D
= (B+C+D) + (F+G-B)
q
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= C+D+F+G
16
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 7.8b, Technological advance
b) Market for adding
machines (Subsitute to
computer)
p
What happens to p, q, CS and
PS?
S
p and q decline.
∆CS = +C - B
∆PS = -C - D
B
A
C
Producers of adding machines
are likely to be unhappy. Their
surplus declines.
D
E
D2
D
q
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17
Einführung in die Volkswirtschaftslehre, 10130
10130-01
Aufgabe 7.8c,d, Technological advance
c) Software market (complement to computers)
What happens to p, q, CS
and PS here?
p
p and q increase.
S
A
∆CS = +A - C
B
C
D
∆PS = +C + D
E
Software producers are
happy because their PS rises.
D2
D
d) Bill Gates?
q
Beat Spirig
As MS is a big producer of
software it sure has profited from
the technological advance in the
computer market.
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