In-Class Exercise (or Assignment) 20230421
Name: Maria Isabel
ID: 111AB0032
Q1 (1)
Darius buys only lobster and chicken. Lobster is a normal good, while chicken is an
inferior good. When the price of lobster rises, Darius buys
a) less of both goods.
b) more lobster and less chicken.
c) less lobster and more chicken.
d) less lobster, but the impact on chicken is ambiguous.
Answer: C
(2)
If the price of pasta increases and a consumer buys more pasta, we can infer that
a) pasta is a normal good and the income effect is greater than the substitution effect.
b) pasta is a normal good and the substitution effect is greater than the income effect.
c) pasta is an inferior good and the income effect is greater than the substitution effect.
d) pasta is an inferior good and the substitution effect is greater than the income effect.
Answer: C
Q2 [In-class exercise 4-4]
𝐷 𝐷
若只有兩種商品，消費量分別為𝑄1 、𝑄2 ，某人的偏好為完全互補，且兩種
商品的最適組合為一比一。假設此人所得為100，𝑃1 = 3， 𝑃2 = 5，則其
最適消費組合為何?
𝐷
Suppose that a consumer consumes only 2 product A and B with volume 𝑄1
𝐷
and 𝑄2 , respectively. For him, the two products are perfect complements
and buying one A and one B is as good as one A and more than one B or
more than one A and one B. If the consumer’s income is 100, the price of A
and B per unit is 𝑃1 = 3 and 𝑃2 = 5. Find the optimal consumption bundle
for the consumer.
𝐷 𝐷
3𝑄1 +5𝑄2 = 100
𝐷 𝐷
3𝑄11+5𝑄21= 100
𝐷 𝐷
𝑄11=5𝑄21= 12.5
Q3 [In-class exercise 4-5]
( 𝐷 𝐷
)
某人的效用函數為 ℎ 𝑄1 , 𝑄2 = 𝑄1 + 𝑄2 。若他的最適選擇是
𝐷 𝐷
「只消費商品1，不消費商品2」，則𝑃1、 𝑃2之間的關係為何?
𝐷 𝐷
Suppose that a consumer consumes only 2 product A and B with volume 𝑄1 and 𝑄2 ,
respectively. The price of the two products per unit are 𝑃1 and 𝑃2.
( 𝐷
)
𝐷 𝐷 𝐷
The consumer’s indifference curve is ℎ 𝑄1 , 𝑄2 = 𝑄1 + 𝑄2 . If his optimal consumption
bundle is “spending all of his income to buy the second product.” What’s the relation
between 𝑃1 and 𝑃2?