docÜbungen 6-7 web [Kompatibilitätsmodus]
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Übungen 6-7 web [Kompatibilitätsmodus]
Übungen zur Vorlesung „Einführung in die Volkswirtschaftslehre“ VWL 1 Übungen Kapitel 6-7 Beat Spirig Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.2a,b, Cheese Market TR1 TR2 p2 With elastic demand TR1>TR2 p1 q2 Beat Spirig q1 q3 2 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.2b, Cheese Market with inelastic demand px Inelastic Demand S TR1 < TR2 p2 p1 D q1 Beat Spirig q2 qx 3 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.2c, Government buys cheese surplus TR1 Gov p2 Producers produce q3 and earn TR2 which is clearly greater than TR1. But consumers only buy q2, so they are in the „same“ position as before. Taxpayers however lose because they have to finance the purchase of the surplus of cheese through higher taxes. p1 q2 Beat Spirig TR2 q1 q3 Q: Who are the taxpayers? 4 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.3, Frisbees Equilibrium Price/Quantity? From the table we see at €8 the demand and supply is 6 million frisbees. a) Price floor (Mindestpreis) of €10 leads to a decrease of the quantity demanded to only 2 million frisbees. Therefore 2 million frisbees are sold. Price floor is binding since it is above the market equilibrium price. b) Price ceiling (Höchstpreis) of €9 is not binding since it lies above the market equilibrium price of €8. Therefore it has no effect. 6 million frisbees will be sold at €8. Beat Spirig 5 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.7, petrol and air pollution a) It does not really matter. If the tax is imposed on the producers the S shifts up by the amount of the tax. If the tax is imposed on the consumers the D shifts down by the amount of the tax. The price paid by the consumers is P2 and the Price received by the producers is P2- €0.50. p2 p1 p2-€0.50 q2 q1 Beat Spirig 6 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.7b,c,d b) If the demand curve is more elastic the more effective the tax will be in reducing the quantity of petrol demanded. The consumers will react with a more dramatic cut in their consumption of petrol. c) Consumers are „hurt“ by the tax because they will get less petrol at a higher price than before. However they may still be in favour of the tax because of the reduction of air pollution (externality). d) Because the producers of petrol, the oil industry, receive lower prices and sell lower quantities of petrol. Workers in the oil industry may face lower wages or may lose their jobs. Beat Spirig 7 Market wage? Employed? Unemployed? Wage w Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.8a, Minimum wages Unemployment S wm w1 D q2 q1 Unemployment shows here the difference between the people willing to work at wage wm and those that actually get employed. It does not require that everybody is claiming for unemployment benefits. q3 Q of Labour Total wage payments Beat Spirig 8 Wage w Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.8b, Increase in minimum wages What happens with employment? Elasticity? Elasticity of demand has an impact! S Elasticity of supply does not matter because there is a surplus of supply. wm‘ wm w1 De D q2 q2‘ q1 q3 Q of Labour Employment Beat Spirig 9 Wage w Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.8c, Increase in minimum wages What happens with Unemployment? Elasticity effect? Unemployment S wm‘ wm Se Elasticity of demand and supply have an impact! w1 De D q2‘‘ q2 q2‘ Beat Spirig q1 q3 q3‘‘ Q of Labour 10 Wage w Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.8d, Minimum wages S With an inelastic demand the total wage payment would increase. D Q of Labour Beat Spirig 11 Wage w Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.8d, Minimum wages S D With an elastic demand the total wage payment would decrease. Q of Labour Beat Spirig 12 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 6.9, subsidy a) Demand shifts up by €0.50 at each quantity. After the subsidy the consumers effectively pay p2 and the seller receives p2 + €0.50 p2 + €0.50 b) Because of the subsidy the consumers are better off. They consume more at a lower price. Sellers are also better off since they sell more at a higher price. Government loses since it pays for the subsidy. p1 p2 q1 Beat Spirig Do you agree? q2 13 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 7.1, Freeze S‘ A p2 B C In the apple-market the consumer surplus decreases from ABC to A. What happens in the cider-market? p1 Beat Spirig 14 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 7.6, DVD players a,b) Cost of producing falls. What happens to price, quantity? S p CS, PS? A CS1 = A CS2 = A + B + C +D S2 PS1 = B + E B C D E F PS2 = E + F + G G c) If S is very elastic? Who benefits most? D q Beat Spirig 15 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 7.8a, Technological advance Technological advance reduces costs of making computers. What happens to price, quantity, CS, PS and TS? S p A S2 B CS1 = A CS2 = A + B + C +D C D E F PS1 = B + E PS2 = E + F + G G Note: Change (∆) in PS is not clear. +F+G but – B. Increase in q increases PS but the decline in p decreases PS. ∆TS = ∆CS + ∆PS D = (B+C+D) + (F+G-B) q Beat Spirig = C+D+F+G 16 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 7.8b, Technological advance b) Market for adding machines (Subsitute to computer) p What happens to p, q, CS and PS? S p and q decline. ∆CS = +C - B ∆PS = -C - D B A C Producers of adding machines are likely to be unhappy. Their surplus declines. D E D2 D q Beat Spirig 17 Einführung in die Volkswirtschaftslehre, 10130 10130-01 Aufgabe 7.8c,d, Technological advance c) Software market (complement to computers) What happens to p, q, CS and PS here? p p and q increase. S A ∆CS = +A - C B C D ∆PS = +C + D E Software producers are happy because their PS rises. D2 D d) Bill Gates? q Beat Spirig As MS is a big producer of software it sure has profited from the technological advance in the computer market. 18
