經(jīng)濟(jì)學(xué)原理曼昆課后答案chapter6

demandedexceedsquantitysupplied,sothere’sashortageoftickets.Thepolicy

decreasesthenumberofpeoplewhoattendclassicalmusicconcerts,sincesupplyis

lowerbecauseofthelowerprice.

TheimpositionofabindingpricefloorinthecheesemarketisshowninFigure

6-3.Intheabsenceofthepricefloor,thepricewouldbeP1andthequantity

wouldbeQ1.WiththefloorsetatPf,whichisgreaterthanP1,thequantity

demandedisQ2,whilequantitysuppliedisQ3,sothereisasurplusofcheesein

theamountQ3-Q2.

Figure6-3

3.

a.

Theequilibriumpriceoffrisbeesis$8andtheequilibriumquantityis6million

frisbees.

Figure6-4showsthemarketforbeerwithoutthetax.Theequilibriumprice

isP1andtheequilibriumquantityisQ1.Thepricepaidbyconsumersisthe

sameasthepricereceivedbyproducers.

Figure6-5

b.

Whenthetaxisimposed,itdrivesawedgeof$2betweensupplyanddemand,

asshowninFigure6-5.ThepricepaidbyconsumersisP2,whiletheprice

receivedbyproducersisP2-$2.ThequantityofbeersolddeclinestoQ2.

5.

6.

Reducingthepayrolltaxpaidbyfirmsandusingpartoftheextrarevenuetoreduce

thepayrolltaxpaidbyworkerswouldnotmakeworkersbetteroffbecausethedivision

oftheburdenofataxdependsonsupplyanddemand,notwhomustpaythetax.

Sincethetaxwedgewouldbelarger,it’slikelythatbothfirmsandworkers,whoshare

theburdenofanytax,wouldbeworseoff.

Ifthegovernmentimposesa$500taxonluxurycars,thepricepaidbyconsumerswill

riselessthan$500,ingeneral.Theburdenofanytaxissharedbybothproducers

andconsumersthepricepaidbyconsumersrisesandthepricereceivedbyproducers

falls,withthedifferencebetweenthetwoequaltotheamountofthetax.Theonly

exceptionswouldbeifthesupplycurvewereperfectlyelasticorthedemandcurve

wereperfectlyinelastic,inwhichcaseconsumerswouldbearthefullburdenofthetax

andthepricepaidbyconsumerswouldrisebyexactly$500.

7.

a.

Itdoesn’tmatterwhetherthetaxisimposedonproducersorconsumersthe

effectwillbethesame.Withnotax,asshowninFigure6-6,thedemand

curveisD1andthesupplycurveisS1.Ifthetaxisimposedonproducers,the

supplycurveshiftsupbytheamountofthetax(50cents)toS2.Thenthe

equilibriumquantityisQ2,thepricepaidbyconsumersisP2,andtheprice

received(aftertaxesarepaid)byproducersisP2-50cents.Ifthetaxis

insteadimposedonconsumers,thedemandcurveshiftsdownbytheamount

ofthetax(50cents)toD2.Thedownwardshiftinthedemandcurve(when

thetaxisimposedonconsumers)isexactlythesamemagnitudeasthe

upwardshiftinthesupplycurvewhenthetaxisimposedonproducers.So

again,theequilibriumquantityisQ2,thepricepaidbyconsumersisP2

(includingthetaxpaidtothegovernment),andthepricereceivedby

producersisP2-50cents.

Figure6-6

Figure6-7

b.

Themoreelasticisthedemandcurve,themoreeffectivethistaxwillbein

reducingthequantityofgasolineconsumed.Greaterelasticityofdemand

meansthatquantityfallsmoreinresponsetotheriseinthepriceofgasoline.

Figure6-7illustratesthisresult.DemandcurveD1representsanelastic

demandcurve,whiledemandcurveD2ismoreinelastic.Togetthesametax

wedgebetweendemandandsupplyrequiresagreaterreductioninquantity

withdemandcurveD1thanfordemandcurveD2.

c.

d.

Theconsumersofgasolinearehurtbythetaxbecausetheygetlessgasoline

atahigherprice.

Workersintheoilindustryarehurtbythetaxaswell.Withalowerquantity

ofgasolinebeingproduced,someworkersmaylosetheirjobs.Withalower

pricereceivedbyproducers,wagesofworkersmightdecline.

8.

a.

Figure6-8showstheeffectsoftheminimumwage.Intheabsenceofthe

minimumwage,themarketwagewouldbew1andQ1workerswouldbe

employed.Withtheminimumwage(wm)imposedabovew1,themarket

wageiswm,thenumberofemployedworkersisQ2,andthenumberof

workerswhoareunemployedisQ3-Q2.Totalwagepaymentstoworkersare

shownastheareaofrectangleABCD,whichequalswmtimesQ2.

b.

c.

Anincreaseintheminimumwagewoulddecreaseemployment.Thesizeof

theeffectonemploymentdependsonlyontheelasticityofdemand.The

elasticityofsupplydoesn’tmatter,becausethere’sasurplusoflabor.

Theincreaseintheminimumwagewouldincreaseunemployment.Thesize

oftheriseinunemploymentdependsonboththeelasticitiesofsupplyand

demand.Theelasticityofdemanddeterminesthequantityoflabor

demanded,theelasticityofsupplydeterminesthequantityoflaborsupplied,

andthedifferencebetweenthequantitysuppliedanddemandedoflaboristhe

amountofunemployment.

d.

Ifthedemandforunskilledlaborwereinelastic,theriseintheminimumwage

wouldincreasetotalwagepaymentstounskilledlabor.Withinelastic

demand,thepercentagedeclineinemploymentwouldbelessthanthe

percentageincreaseinthewage,sototalwagepaymentsincrease.However,

ifthedemandforunskilledlaborwereelastic,totalwagepaymentswould

decline,sincethenthepercentagedeclineinemploymentwouldexceedthe

percentageincreaseinthewage.

Figure6-9

9.

a.

Figure6-9showstheeffectofataxongunbuyers.Thetaxreducesthe

demandforgunsfromD1toD2.Theresultisariseinthepricebuyerspayfor

gunsfromP1toP2,andadeclineinthequantityofgunsfromQ1toQ2.

Figure6-10showstheeffectofataxongunsellers.Thetaxreducesthe

supplyofgunsfromS1toS2.Theresultisariseinthepricebuyerspayfor

gunsfromP1toP2,andadeclineinthequantityofgunsfromQ1toQ2.

Figure6-11showstheeffectofabindingpriceflooronguns.Theincreasein

pricefromP1toPfleadstoadeclineinthequantityofgunsfromQ1toQ2.

Thereisexcesssupply