1、ManagerialEconomicsHOMEWORKSET#1Name:Class:Student#:(Dueday:Nextclass)Part 1:1. Aperfectlycompetitivemarkethas:a) manybuyersandsellers.b) severallargebuyers.c) ameetingplaceforbuyersandsellers.d) a)andb)e) a)andc)Choose:a)Theremustbenumeroussmallbuyersandsellersforamarkettobeperfectlycompetitive.Ame

2、etingplaceisunnecessary.2. BoeingCorporationandAirbusIndustriesaretheonlytwoproducersoflong-rangecommercialaircraft.Thismarketisnotperfectlycompetitivebecause:a) Eachcompanyhasannualsalesover$10billion.b) Eachcompanycansignificantlyaffectprices.c) AirbusreceivessubsidiesfromtheEuropeanUnion.d) Airbu

3、scannotsellaircrafttotheUnitedStatesgovernment.e) Alloftheabove.Choose:b)Thecharacterofmonopolymarketiseachfirmcanaffectprices.3. Iftherealpriceofacollegeeducationhasrisenduringaperiodofinflation:a) itsnominalpricehasnotchanged.b) itsnominalpricehasrisenslowerthanageneralindexofprices.c) itsnominalp

4、ricehasrisenfasterthanageneralindexofprices.d) itscurrentdollarpricehasnotchanged.e) Noneoftheaboveiscorrect.Choose:c)Whenthenominalpriceofacollegeeducationrisesfasterthantherateofinflation,therealpriceofacollegeeducationwillrise.4. Theconstantdollarpriceofagood:a) isthesameasitsrealprice.b) isthesa

5、measitsnominalprice.c) adjustsforinflationintheoverallpricelevel.d) b)andc)e) a)andc)Choose:e)Bydefinition,theconstantdollarpriceisequaltotherealprice,andbothadjustthenominalpricefortheeffectsoftheinflation.5. Thepriceofasandwichwas$0.29in1970and$0.99in1993.TheCPIwas38.8in1970and144.0in1993.The1993p

6、riceofasandwichin1970dollarsis:a) $0.08.b) $0.27.c) $0.34.d) $3.67.Choose:b)0.99/x=144/38.8x=0.276. Whichofthefollowingwouldshiftthedemandcurvefornewtextbookstotheright?a) Afallinthepriceofpaperusedinpublishingtexts.b) Afallinthepriceofequivalentusedtextbooks.c) Anincreaseinthenumberofstudentsattend

7、ingcollege.d) Afallinthepriceofnewtextbooks.Choose:c)non-pricedemand-determiningvariables7. Plasticandsteelaresubstitutesintheproductionofbodypanelsforcertainautomobiles.Ifthepriceofplasticincreases,withotherthingsremainingthesame,wewouldexpecta) thepriceofsteeltofall.b) thedemandcurveforsteeltoshif

8、ttotheright.c) thedemandcurveforplastictoshifttotheleft.d) nothingtohappentosteelbecauseitisonlyasubstituteforplastic.e) thedemandcurveforsteeltoshifttotheleft.Choose:b)thedefinitionofsubstitutes8. Lastmonthyousold10,000stereosnationwideat$400each.Themonthbeforethatyousold9,000stereosat$410each.Next

9、month,youarethinkingofcuttingthepriceevenfurtherto$389.99.Assumingthat(i)themarketdemandforyourproductislinear,and(ii)allelseremainsequal,whatisyourpredictionfornextmonth'ssales?a) 10,100units.b) 11,000units.c) 11,001units.d) 11,051units.e) 12,000units.Choose:c)Usingthetwodatapoints,findtheslope

10、andinterceptofthedemandcurve:(9,000-10,000)/(410-400)=-100and10,000=a-100(400),ora=50,000.Thus,theequationofthelineisQ=50,000-100P.WhenP=$389.99,Q=11,001.Thenext9-11questionsrefertothefollowingdemandandsupplycurves:QD=189-2.25PQS=124+1.5PYouranswersshouldbecorrecttotwodecimalplaces.9. Theequilibrium

11、priceis:a)$84b)$82.67c)$17.33d)$150e)Noneoftheaboveiscorrect.Choose:c)SettingQS=QD,weobtain124+1.5P=1892.25P.Collectingterms,3.75P=65,orP=$17.33.10. Theequilibriumquantitysoldis:a)65b)150c)313d)84e)NoneoftheaboveiscorrectChoose:b)UsingP=17.33(fromabove),QS=124+1.5(17.33)=150.11. Atthemarketequilibri

12、um,thepriceelasticityofdemandequals:a)-2.25b)+2.25c)-0.26d)-0.17e)Noneoftheaboveiscorrect.Choose:c)EP=-bP/Q=-2.25(17.33)/150=-0.26.12. Ifthepriceelasticityofdemandforcoffeeisestimatedtobe-0.25intheshortofrun,whichisthemostlikelyvalueofthelong-runelasticity?a)-0.10b)-0.25c)-0.40d)-ooe)Noneoftheabovet

13、heelasticityofdemandinthelongrunisalwayspositive.Choose:c)Formostgoods(exceptthosethataredurable),thelong-runelasticityisgreaterinabsolutevaluethantheshort-runelasticity.Part 2:Supposethetablebelowliststhepriceandconsumptionlevelsoffoodandclothingduring1990and2000.CalculateaLaspeyresandPaascheindexu

14、sing1990asthebaseyear.YearPricesConsumptionFoodClothingFoodClothing19905.003.001007520006.253.3511087Solution:TheLaspeyresIndexiscalculatedasfollows:LIP2000F1990琮0009906.25100(3.35)75FCP990Fi990P990C19905100375825ThePaascheIndexiscalculatedasfollows:piP2000F2000琮00C20006.25110(3.35)87p99

15、0F2000p990c20005110387978.951.207.811Part 3:ThisexerciseusesthemarketdatagiveninTable1.1Price(P)QuantityDemanded(QD)QuantitySupplied(QS)$101000100$20800500$30600900$404001,300Table1.1a) Plotthesupplyanddemandcurvewithquantityonthehorizontalaxisandpriceontheverticalaxis.b) Derivetheinterceptsandslops

16、forthedemandcurveQD=a-bPandthesupplycurveQS=c+dP.c) MakesurethattheequationsyoufoundarecorrectbyplugginginP=$10andP=$40andverifyingthequantitieswithTable1.1.d) Findtheequilibriumpriceandquantity.Answer:b)First,considerthesupplycurve.Frompoint(Q1,P1)and(Q2,P2),wecanderivetheslope:d=AQS/APQQ2：P2-P1)=(

17、1,300200)/(40W0)=400/10=40.TheinterceptcequalsQS-dP=1,300-40(40)=-300.So,thesupplycurveisQS=-300+40P.Theslopeofthedemandcurveisb=AQD/AP=(Q5Q6»(P5P6)=(8001000)/(20T0)=-200/10=-20,sob=20.Theinterceptisa=QD+bP=800+20(20)=1,200.So,thedemandcurveisQD=1,200-20P.a)Forsupply,atP=10,Qs=-300+40(10)=-300+

18、400=100.AtP=40,Qs=-300+40(40)=1,300.Fordemand,atP=10,Qs=1,200-20(10)=1,000.AtP=40,Qd=1,200-20(40)=400.d)SetQs=QdorW00+40P=1200-20P.Combiningtermsweget,60P=1,500,orP=25.Substitutingbackintothesupplycurve,weobtainQs=-300+40(25)=700.Asacheck,substitutebackintothedemandcurvetogetQs=1,200-20(25)=700.Weha

19、veverifiedthatP=25istheequilibriumprice,sinceQs=Qd=700atthatprice.Part 4:Thewheatmarketisperfectlycompetitive,andthemarketsupplyanddemandcurvesaregivenbythefollowingequations:QD=20,000,000-4,000,000PQS=7,000,000+2,500,000P,whereQDandQSarequantitydemandedandquantitysuppliedmeasuredinbushels,andP=pric

20、eperbushel.a) Determineconsumersurplusattheequilibriumpriceandquantity.b) Assumethatthegovernmenthasimposedapricefloorat$2.25perbushelandagreestobuyanyresultingexcesssupply.Howmanybushelsofwheatwillthegovernmentbeforcedtobuy?Determineconsumersurpluswiththepricefloor.Solution:a.Thefirststepistodeterm

21、inetheequilibriumpriceRandquantityQebyequatingQDandQS.20,000,0004,000,000Pe7,000,0002,500,000Pe13,000,0006,500,000PePe$2.00.SubstituteintoQDorQSQe20,000,0004,000,0002Qe12,000,000.Tofindconsumersurplus,wemustalsodeterminethechokeprice(PC).Thatis,thepriceatwhichquantitydemandediszero.solveforPintermso

22、fQDandQS.020,000,0004,000,000PC4,000,000PC20,000,0001CS一2PC5.PCPeQe0.55212,000,00018,000,000.b.Atpriceof2.25QD=20,000,000-4,000,000(2.25)QD=11,000,000QS=7,000,000+2,500,000(2.25)QS=12,625,000ExcesssupplyisQS-QD.12,625,000-11,000,000=1,625,000Governmentshouldexpecttobuy1,625,000bushels.Cs=(0.5)(Pc-$2

23、.25)QD=(0.5)(5-2.25)(11,000,000)=15,125,000.C.S.fellfrom18,000,000to15,125,000下午13:0017:00口度。全體員工都必須自覺遵守工作時(shí)間，實(shí)行不定時(shí)工作制的員工不必打卡。 打卡次數(shù)：一日兩次，即早上上班打卡一次，下午下班打卡一次。 打卡時(shí)間：打卡時(shí)間為上班到崗時(shí)間和下班離崗時(shí)間; 因公外出不能打卡：因公外出不能打卡應(yīng)填寫外勤登記表，注明外出日期、事由、外勤起止時(shí)間。因公外出需事先申請(qǐng)，如因特殊情況不能事先申請(qǐng)，應(yīng)在事畢到崗當(dāng)日完成申請(qǐng)、,由直接主管簽字證明當(dāng)日的出勤狀況，報(bào)

24、部門經(jīng)理、審批手續(xù)，否則按曠工處理。因停電、卡鐘（工卡）故障未打卡的員工，上班前、下班后要及時(shí)到部門考勤員處填寫未打卡補(bǔ)簽申請(qǐng)表人力資源部批準(zhǔn)后，月底由部門考勤員據(jù)此上報(bào)考勤。上述情況考勤由各部門或分公司和項(xiàng)目文員協(xié)助人力資源部進(jìn)行管理。 手工考勤制度 手工考勤制申請(qǐng)：由于工作性質(zhì)，員工無法正常打卡（如外圍人員、出差），可由各部門提出人員名單，經(jīng)主管副總批準(zhǔn)后，報(bào)人力資源部審批備案。 參與手工考勤的員工，需由其主管部門的部門考勤員（文員）或部門指定人員進(jìn)行考勤管理，并于每月26日前向人力資源部遞交考勤報(bào)表。 參與手工考勤的員工如有請(qǐng)假情況

25、發(fā)生，應(yīng)遵守相關(guān)請(qǐng)、休假制度，如實(shí)填報(bào)相關(guān)表單。 外派員工在外派工作期間的考勤，需在外派公司打卡記錄；如遇中途出差，持出差證明，出差期間的考勤在出差地所在公司打卡記錄；3.2加班管理3.2.1 定義加班是指員工在節(jié)假日或公司規(guī)定的休息日仍照常工作的情況。A.現(xiàn)場管理人員和勞務(wù)人員的加班應(yīng)嚴(yán)格控制，各部門應(yīng)按月工時(shí)標(biāo)準(zhǔn)，合理安排工作班次。部門經(jīng)理要嚴(yán)格審批員工排班表，保證員工有效工時(shí)達(dá)到要求。凡是達(dá)到月工時(shí)標(biāo)準(zhǔn)的，應(yīng)扣減員工本人的存休或工資；對(duì)超出月工時(shí)標(biāo)準(zhǔn)的，應(yīng)說明理由，報(bào)主管副總和人力資源部審批。B.因員工月薪工資中的補(bǔ)貼已包括延時(shí)工作補(bǔ)貼，所以延時(shí)工作在4b時(shí)（不含）以下的，

26、不再另計(jì)加班工資。因工作需要，一般員工延時(shí)工作4小時(shí)至8小時(shí)可申報(bào)加班半天，超過8小時(shí)可申報(bào)加班1天。對(duì)主管（含）以上管理人員，一般情況下延時(shí)工作不計(jì)加班，因特殊情況經(jīng)總經(jīng)理以上領(lǐng)導(dǎo)批準(zhǔn)的延時(shí)工作，可按以上標(biāo)準(zhǔn)計(jì)加班。 員工加班應(yīng)提前申請(qǐng)，事先填寫加班申請(qǐng)表，因無法確定加班工時(shí)的，應(yīng)在本次加班完成后3個(gè)工作日內(nèi)補(bǔ)填加班申請(qǐng)表。加班申請(qǐng)表經(jīng)部門經(jīng)理同意，主管副總經(jīng)理審核報(bào)總經(jīng)理批準(zhǔn)后有效。加班申請(qǐng)表必須事前當(dāng)月內(nèi)上報(bào)有效，如遇特殊情況，也必須在一周內(nèi)上報(bào)至總經(jīng)理批準(zhǔn)。如未履行上述程序，視為乙方自愿加班。 員工加班，也應(yīng)按規(guī)定打卡，沒有打卡記錄的加班，公司不予承認(rèn)；有打

27、卡記錄但無公司總經(jīng)理批準(zhǔn)的加班，公司不予承認(rèn)加班。 原則上，參加公司組織的各種培訓(xùn)、集體活動(dòng)不計(jì)加班。 加班工資的補(bǔ)償：員工在排班休息日的加班，可以以倒休形式安排補(bǔ)休。原則上，員工加班以倒休形式補(bǔ)休的，公司將根據(jù)工作需要統(tǒng)一安排在春節(jié)前后補(bǔ)休。加班可按1:1的比例沖抵病、事假。3.2.3加班的申請(qǐng)、審批、確認(rèn)流程 加班申請(qǐng)表在各部門文員處領(lǐng)取，加班統(tǒng)計(jì)周期為上月26日至本月25日。 員工加班也要按規(guī)定打卡，沒有打卡記錄的加班，公司不予承認(rèn)。各部門的考勤員（文員）負(fù)責(zé)加班申請(qǐng)表的保管及加班申報(bào)。員工加班應(yīng)提前申請(qǐng)，事先填寫加班申請(qǐng)表加班前到部門考勤員（文員）處領(lǐng)取加