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要求用DADA方式完成题目(Definitions, Assumptions, Diagrams and critical/original Analysis)
Question 1
(a) Under what circumstances would the production possibility curve(PPC) be (1) a straight line, (2) bowed in towards the origin, (3) outward shift of the PPC curve?
(b) What are the determinants of supply? illustrate and explain the shift and movement of the supply curve?
Question 2
(a) On separate demand and supply diagrams for bread, sketch the effects of the following: (a) a rise in the price of wheat; (b) a rise in the price of butter and margarine; (c) a rise in the price of rice, pasta and potatoes. In each case state your assumptions?
(b) What are the determinants of price elasticity of demand and distinguish between income and cross-price elasticity of demand?
Question 3
(a) Explain the law of diminishing returns to scale with an example? What economies of scale and economies of scope exist in (a) oil refining adn (b) banking?
Please refer to Chapter 5, Question 3, page 132, in the Sloman and Norris set text 2005. From the information given in the following table, construct the table like 5.4 in the text book. Use your table to draw diagrams like Figures 5.5 and 5.7 in the text book. Use these two diagrams to show the profit maximising output and the level of maximum profit. Confirm your findings by the reference to the table you have constrcted.
Q 0-1-2-3-4-5-6-7
P 12-11-10-9-8-7-6-5
TC 2-6-9-12-16-21-28-38
Question 4
(a) Explain and illustrate the key features of perfect competition with examples (Australian or international) and illustrate the short run and long run equilibrium of a firm.
(b) Why may a food shop charge higher prices than super markets for 'essential items' and yet vary similar prices for delicatessen items?
(c) Illustrate and explain with an example as to how a price leader maximises profit?
Question 5
(a) Illustrate and explain why do prices remain stable when there is no cllusion?
(b) Identify four groups of workers, two with very high wages and two with very low wages. Example why they get the wages they do.
(c) If a person earning $5000 per year pays $500 in a given tax and a person earning $10000 per year pays $800, is the tax progressing or regressive? Explain.
Question 6
(a) Illustrate and explain the external costs of production and external cost of consumption with examples?
(b) Distinguish between publicly provided goods, public goods and merit goods with examples?
(c) On a diagram similar to Figure 9.5 on page 221, in the Sloman and Norris set textbook, explain how a subsidy can correct for an external benefit?
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