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八十八學年度第二學期財政系個體經濟學期中考試試題
4/18/2000 任課教師：徐麗振
你的分數決定於答案的完整及正確程度。
一、(20 分，每題 5 分)解釋名詞：
1. Diminishing technical rate of substitution
2. Quasi-fixed factors
3. Cost functions
4. The winner’s curse
二、(25 分，每題 5 分)是非題(需詳細說明對或錯的理由，否則不給分)
1. If a consumer spends all income, and if the income elasticities of demand of all goods are
equal for this consumer, then the income elasticity of demand must be less than one.
2.
English auction is Pareto efficient, but Dutch auction is not.
3.
If the demand curve for cigarettes is D  10000 , the supply curve is S  1000  3 p , and
an ad valorem tax with tax rate 30% is imposed, then in the partial equilibrium analysis
(considering only the cigarette market) consumers of cigarettes bear one-third of the total
tax, and producers bear the rest two-thirds of the total tax.
4.
A perfectly competitive firm producing with the constant returns to scale technology can
only earn zero profit in the long run.
5.
The production technology, f ( x1 , x2 )  100[( x1 ) 2  ( x2 ) 2 ]1/ 2 , exhibits decreasing returns
to scale.
三、(10 分) A firm produces ping pong balls using two inputs. When input prices are (16, 10)
the firm uses the input bundle (20, 68). When the input prices are (9, 28) the firm uses the
bundle (72, 43). The amount of output is the same in both cases. Is this behavior
consistent with WACM?
四、(15 分) Let the production function for a firm be f ( x1 , x2 )  x11/ 5 x23 / 5 . Find conditional
factor demand functions and cost function.
五、(5 分) Consider a market demand curve D( p)  15 p 2 . What is the price elasticity of
demand of this demand curve? Explain your answer clearly, but do not use any formula or
mathematics to derive it; otherwise, you get zero point for this question.
六、(10 分) A competitive firm’s production function is f ( x1 , x2 )  4 x1 2  5 x 2 2 . The price
of factor 1 is $2 and the price of factor 2 is $3. The price of output is $6. What is the
profit-maximizing quantity of output?
1
2000Mid-1
1
七、(1)(8 分) George runs a cookie factory. His cookies are made with flour and sugar.
The number of boxes of cookies that he produces is
f ( F , S )  min{ F ,2S}
where F is the number of bags of flour and S the number of bags of sugar that he uses. The
price of a bag of flour is $5. The price of a bag of sugar is $8.
(a) Write down George’s cost function.
(b) If George makes 100 boxes of cookies in the cheapest way possible, what is the cost?
(2) (7 分) If instead the production function is
f ( F , B, S )  min{ F , B 2S}
where F, S, and their prices are as defined in (1), and B is the number of pounds of butter.
The price of a pound of butter is $6.
(a) Write down George’s cost function.
(b) If George makes 100 boxes of cookies in the cheapest way possible, what is the cost?
2000Mid-2