Intermediate Microeconomics · 免费预览
贸易与瓦尔拉斯均衡
从禀赋出发的竞争性交易中，每位消费者在共同价格下实现效用最大化；所构建的经济在价格相等时实现市场出清，双方都消费 (5, 5)，效用从 16 上升到 25；瓦尔拉斯法则把超额需求联系在一起；并且只有相对价格被决定，其中一种商品充当计价物。
1. The price-taking solution
The price-taking solution
2. The equilibrium checks
The equilibrium checks
3. Walras' law and existence
Walras' law and existence
4. From two goods to the economy
From two goods to the economy
5. The numeraire
Why does only the price ratio matter in the exchange system?
6. The equilibrium price
What is the equilibrium relative price in the worked economy?
7. Walras' law
What exactly does Walras' law state about market excess demands?
8. The core convergence
What happens to the core as consumers replicate?
9. Endowment income
At prices 1 and r of 1, compute A's endowment income, 8 plus 2, and write the number.
10. Utility after trade
Compute each consumer's equilibrium utility, 5 times 5, and write the number.
11. A's demand at the prices
At prices 1 and 1 with A's income of 10, what does A demand for u equal xy?
12. B's budget and choice
What is B's endowment income at prices 1 and 1, and what does B demand?
13. The market-clearing trades
What net trades clear both markets at the equilibrium?
14. The measured gains
By how much does each consumer's utility rise from endowment to equilibrium?
15. B's endowment income
At prices 1 and 1, compute B's endowment income as 2 plus 8, and write the number.
16. The utility gain from trade
Compute the utility gain from endowment 16 to equilibrium 25, and write the number.