萨缪尔森经济学Economics第十八版 18th 课后概念、习题答案6

萨缪尔森经济学Economics第十八版18th课后概念、习题答案6萨缪尔森经济学Economics第十八版18th课后概念、习题答案6萨缪尔森经济学Economics第十八版18th课后概念、习题答案6资料仅供参考文件编号：2022年4月萨缪尔森经济学Economics第十八版18th课后概念、习题答案6版本号：A修改号：1页次：1.0审核：批准:发布日期：CHAPTER 6Production andBusinessOrganizationCHAPTEROVEVIEWANDTEACHINGTIPSThemicrochaptersinthistextpresentthefundamentalsofproductiontheoryandbusinessoganizationbefoecostschedulesarederivedandmarketstructuresareexplored.Thisorderingoftopicsemphasizesthelinksbetweenproduc-tionandcost,ontheonehand,andbusinessoganizationandmarketstructure,ontheothe.Chapter6isarelativelyshortchapterthatcoversonlythebasicsofthestandardtheoryofproductionandofbusinessoganization.Productionfunctions,maginalproducts,averageproducts,thelawofdiminishingreturns,returnstoscale,andtechnologicalchangeareallintroducedhere.So,too,arethediferencesbetweenproprietorships,partnerships,andcorporations.Havingcoveredthismaterialcarefull,youwillbeabletodemonstratehowcostcurvesarederivedfromproductionfunctions;thatderivationisthefocusofChapter7.Emphasizetherelationshipsbetweenthesecostcurvesandbothinputpricesandtechnolog.Thiswillbuildastrongfoundationforfuturecoverageofthesupplysideofproductmarketsandthedemandsideofinputmarkets.Whenyouturninlaterchapterstohowchangesinthesefactorsafectmarketequilibriainvariousmarketstructures,thelinkageswillbetheretouse.LEARNINGOBJECTIVES1. Defineaproductionfunctionandrelateittothenotionsoftotalpoduct,maginalpoduct,andaveragepoduct.2. Explainthelawofdiminishingmaginaleturns.Defineconstant,increasing,anddecreasingreturnstoscale,andrelateeachtothelawofdiminishingmaginalreturns.3. Compareandcontrastthemeasuresoftotalproductivityandtheproductivityofaparticularinput.Relatebothtotechnologicalchangeandthelawofdiminishingmaginalreturns.4. Distinguishbetweentheshortrunandthelongruninthecontextofproduction.5. Stateandexplainthestylizedfactsthatdescribethegrowthoftheaggregate.economysincetheturnofthecentur.DescribewhyitcanbesaidthattheexperienceoftheUnitedStatesoverthepasttwodecadeshasnotbeenasprofitableasitsexperienceoverthecenturytakenasawhole.6. Explainthediferencesamongthethreemajorformsofbusinessoganization:poprietorship,partnership,andcorporation.7. Describethreereasonswhyfirmsexistinamoderneconom.8. Definethetermunlimitedliabilityasitappliestobusinessoganization,andexplainthepropensityoflagebusi-nessestobeincorporated.9. Listtheadvantagesand/ordisadvantagesofeachofthethreebusinessforms.SUGGESTEDANSWERSOQUESTIONSINTHETEXT1. Aproductionfunctiondefinestherelationshipbetweeninputsusedintheproductionprocessandoutput.2526 CHAPTER6:PRODUCTIONANDBUSINESSORGANIZTION2. a.UnitsofotalMarginalveragelaborinputpoductpoductpoduct00 1001 100 100412 141 70323 173 58274 200 50b.Thisfunctionshowsdiminishingreturnstolabo.Theexponentwouldhavetobegreaterthanonetoexhibitincreasingreturnstolabo.3. ReadingdowntheMPcolumn:(14,000-86,000)/(20,000-10,000)=28/10=,2,,.ReadingdowntheAPcolumn:86,000/10,000=,,,,.4. Graphthepointswithoutputontheverticalaxisandhorsepoweronthehorizontalaxis.5. K=yourstand,grill,refrigerato,etc.L=youandyouremployeesM=dogs,chips,condiments,etc.Intheshortrun,youcouldreduceyourordersofmaterials,layofsomepeople,andshortenyourhours.,openathalf-time).Inthelongrun,youcouldgetasmallerstandand/orotherwiseadjustyourcapitalstock.6. Hiringmorepeoplewouldmoveyoualongaproductionfunctionforagivencapitalstock.Buyingorrentingamicrowaveinsteadofagrillwouldchangetechnologiesandthustheproductionfunction.7. Newtechnology:b;substitution:a,c,andd(unlesscomputersrepresentnewtechnology).8. Diminishingreturnscancoexistwithanyreturns-to-scaleparamete.Rememberthatdiminishingreturnsexistasvariableinputsareaddedtoafixedinputbaseintheshortrun.Decreasingreturnstoscaleoccurwhentheuseofallinputsisaltered.9. Maginalproductdecreasingmeansthattheincreaseinoutputisalwayssmallerforsuccessiveincrementsofemployment.Thus,thenextincreaseinoutputisalwayssmallerthanthelast,whichwassmallerthanallofthepre-vious;thenextincreaseisthusalwayssmallerthantheaverageofthepreviousincreases.Includingthissmallernumberintheaverage,asaresult,mustreducetheaverage.10.a.

alueto alueto otalMember Member Others SocialalueAdam$0$0$0Beth$1$1$2Carlos$2$2$4Dorothy$3$3$6Ed$4$4$8Figue6-1CHAPTER6:PRODUCTIONANDBUSINESSORGANIZTION 27Thisshowsincreasingreturnsbecausewhenwedoubleinputs,wemorethandoublethe“output”,orvalueofthenetwork.b. Ifthereare6peopletobeginwithandthemembershipfeeis$,theseventhmembergains$6invalue,pays$,andtheexistingmembersget$6invalue,foratotalsocialvalueof$12.Ifthereareinitiallyonly3peopleonthenetwork,the$costofjoiningisgreaterthanthe$3expectedgainforthefourthperson,soheorshewillnotjoin.Hence,theequilibriumtipstowarduniversalmembershipwiththemembershipbenefitsarejustgreaterthanthecostofjoining.c. Inordertoencouragemembershipearl,Imightgiveheavydiscountstothosewhosignupearlyformyser-vice.Perhapsthe“first5usersgetaheavydiscountintheirfee”,followedbyincreasingpricesforthosewhojoinlate.DISCUSSIONQUESTIONS1. WhatarethesocialadvantagesanddisadvantagesofthecorporateformofbusinessoganizationWhataresomecriticismsmadefrequentlyinthepopularpressHowvaliddoyouthinkthesecriticismsare2. Whatcharacterizestheindustriesinwhich“infinitesimal”businessesarefoundWhatincentivesexistforsmallindividualproprietorshipsthatmustencouragethecontinualformationofnewones3. Whatfactorsdoyouthinkcorporationsconsiderwhendecidingtoraisemoneybybonds,preferredstock,orcommonstockWhataboutpersonswhoaregoingtopurchasethesesecuritiesDotaxesplayanyroleIfso,whatandhow4. “Alllagefirmsarebadfortheeconom.Firmsshouldbesmallifaneconomyisgoingtobeeficient.”Useactualcasestosupportyourpointofvie,proorcon,onthis.5. ArelagecorporationsdemocraticBywhatcriteriawouldyoumeasure“democracy”Whatdevicesmightbeusedtomakecorporationsmoredemocratic6. Whatdoes“doubletaxation”meaninthecontextofthecorporationformofbusinessoganizationDoyoufeelthatsuchataxstructureisjustified7. Chroniclethepaththatasmallbusinessmightfollowinthesuccessfulexpansiontoincorporation.Explainwhyandhoweachstephappensandshowpreciselytherolethatoperatingcapitalplaysalongthewa.8. Explaintherelationshipsbetweenaproductionfunctionanditsassociatedmaginalproductcurve.Whatwouldbetheefectofanincreaseinpopulationgrowthonthetotalandmaginalproductcurvesofland9. Whatdoesanaggregateproductionfunctiontrytomeasure10.Supposethatafirmemployedcapitalandlabortoproducesteelandpollution.Couldthepollutionbeconsidered,forpurposesofanalyzingthefirmsderiveddemandforpollution,tobeaninputWhyorwhynot1.Dofixedproportionsinfactorrequirements(onepersontooneshovel)causeanydificultyfortheeconomictheoryofproductionExplain.12.Sketchtypicaltotalproductcurvesandmaginalproductcurveswithlaborasthevariableinput,andshowwhathappenswhentheamountusedofanotherfacto,suchascapital,increases.Discussandjustifythechangesyouhaveshown.13.Assumethattheownerofyourcornergrocerystoretellsyouthatshemade$8000profitlastyea.Whatdoesshemeanby“profit”Howwouldyougoaboutdeterminingwhetherornotshewasmaking“adequate”returnESSYQUESTIONS1. Definethethreeprincipalformsofbusinessoganizations.WhatactivitiesaredominatedbyeachformDescribeindetailhoweachoperates.2. “Achieffunctionofthecorporationisthewidespreaddistributionofrisk.”Evaluatethisstatement.3. riteanessayontheadvantagesanddisadvantagesofthecorporateformofenterprisewithrespecttoatleastthreecriteriathatyoujudgetoberelevant.4. “Bignessisnotnecessarilybadness.”Howwouldyoumeasure“bigness”Citeoneeconomicagumentfavorableto,andoneunfavorableto,theexistenceofverylagecorporations.5. “Partnershipshaveallthebadcharacteristicsofproprietorshipsandcorporationsandnoneofthegoodones.”Evaluatethisstatement.6. WhataresomeofthesocialadvantagesthatresultfromthecorporateformofoganizationSomedisadvantages28 CHAPTER6:PRODUCTIONANDBUSINESSORGANIZTION7. Discussmegers,theirsources,theirbenefits,andtheircosts.Whowinsandwholosesinaleveragedbuyout8. Contrastandcomparethethreeformsofbusinessoganizationwithrespectto(a)liabilityofowner(s),(b)accesstocapital,(c)controlofowner(s),and(d)taxation.9. WhyisasmallandgrowingproprietorshiplikelytobeshortofcapitalListthealternativesourcesoffundsopentoit,andtheadvantagesanddisadvantagesassociatedwitheach.10.DoesthetheoryofproductionapplyequallywelltoallformsofbusinessoganizationsWhyorwhynot1.HowwouldyoumeasurethemarginalproductofasteelworkerAproprietorAcorporateexecutiveAneconomicsinstructor12.Explaintherelationshipbetweenthetotalproductcurve,themaginalproductcurve,andtheaverageproductcurve.Whyismaginalproductzerowhentotalproductismaximized13.Explainthediferencebetweenproductandprocessinnovation.Howdothesetermsrelatetothefirmsproductiontechnology14.“Whenafirmisexperiencingdiminishingreturnstolabo,itisalsoexperiencingdecreasingreturnstoscale.”rueorfalseExplainyouranswe.15.Afishpackingplantiscurrentlyemploying12workers,withtotalproductequalto150fishcleanedperhou.Athirteenthworkerwhenaddedpushestotalproductto160fishperhou.Whatistherelationshipbetwe