CÂU 1: Assume… is similar to other firms in the industry -> perfectly

competitive -> LR: LMC = LAC

Trong LR, P=ATC min, mà ATC min thì MC = AC (để tính ATC min lấy đạo hàm
ATC theo Q cho = 0)

CÂU 2:
1st degree: người mua sẵn sàng trả vs giá cao nhất, khi đó CS = 0

https://mihn.notion.site/KTEE312-EX-5b484bb9008e48189e0ecb93a97c86db#2b601
b91ae5d4ec7a5cc26712415dfe1
—--------------------------------------------------------------- ---------------
L Output AP MP TFC= TVC TC= AFC AVC AC MC
(Q) (average (marg 500*2 (lươn TFC+ (TVC (TC/ (delta
product, inal (vì số g trả TVC /Q) Q) TC,
mỗi produ máy cho TC
labour sx ct) fixed) ng lao dưới
đc bn) (delta động) trừ
Q) TC
trên)

0 0 0 0 1000 0 1000 x 0 x 0

1 20 20 20 1000 35 1035 50 1,75 51.75 35

2 34 17 14 1000 70 1070 29.41 2,06 31.47 35

3 44 14,67 10 1000 105 1105 22.72 2,39 25.11 35

4 50 12,5 6 1000 140 1140 20 2,8 22.8 35

5 52 10,4 2 1000 175 1175 19.23 3,36 22.6 35

6 50 8,33 -2 1000 210 1210 20 4,2 24.2 35

7 46 6,57 -4 1000 245 1245 21.74 5,32 27.07 35

a) Diminishing returns set in when Q= 20 and L=1 (Từ sau đó MP giảm)

 b) In stage three, marginal returns start to turn negative (MP ÂM)
-> Q=50 AND L=6

y=ax+b, coefficient là hệ số a -> Q’ theo P đạo hàm ra a

2.1 C (Q’theo P * P/Q = -1.937 * 7.62/121.8 = -0.1212
2.2 B (x=ribe, y=chuck) ( Q’x Py * Py/ Qx = -1.34 * 2.47/121.8 = -0.027
=> <0 => complement
2.3 A
2.4 D (veblen là luxury)
Qribeye = cons+cof ribeye*P ribeye+ cof chuck * P chuck + cof chicken * P chicken+ cof
I*I
121.8=-24.773 -1.937*7.62-1.34*2.47+3.709*1.7+3.581*I
=> I= 44
Edi= Q’theo I * I/Q
=> EdI= 3.581*44/121.8= 1.27 >1 => veblen

2.5 B vì trị tuyệt đối cof lớn nhất

a. Cách tính MR dễ hiểu hơn: TR=P.Q=40L - (1/20)L^2
-> MR = TR’=40 - (1/10)L
Q’theo L= MPL = 1- 1/400 * L
b. MRL: marginal revenue per labor

c.
WHY MONOPOLY IS INEFFICIENT? (thấy bảo có cả câu này trong đề trên)
Monopoly is considered inefficient because it can lead to several negative economic
outcomes:
Reduced Competition: When a single company has exclusive control over a product or
service, it eliminates competition. This leads to higher prices for consumers and less
innovation, as the monopoly has little incentive to improve its products or services.
Higher Prices: In a monopoly, the company can charge higher prices without fear of losing
customers to competitors. This results in reduced consumer surplus and higher producer
profits.
Lower Output: Monopolies can produce less than what would be produced under perfect
competition, leading to a reduction in total output.
Deadweight Loss: Deadweight loss occurs when a monopoly charges a price that is higher
than the marginal cost of production. This results in a loss of consumer and producer surplus,
leading to a net loss in economic welfare.
Overall, monopoly leads to a reduction in economic efficiency, as it results in higher prices,
reduced output, and less innovation. This is why antitrust laws and regulations exist to
prevent monopolies and promote competition.
---
Câu 1: MU of good X is 2, MU of good Y is 10. What is the MRS of good X over good Y?
MRS of good X over good Y = -MUx/MUy = -2/10 = -⅕

Câu 2: Given the utility function U=min(x;3y), which of the following give the same utility
as (3;2)?
(1;2) / (2;3) / (4;1) / (4;2)
U(3,2) = min (3,6) = 3
U(1,2) = min (1,6) = 1
U(2;3) = min (2;9) = 2
U(4;1) = min (4;3) = 3
U(4;2) = min (4;6) = 4
Thus, (4,1) has the same utility as (3,2)

Câu 3: Which of the following utility function shows that the two goods are perfect
complement?
U=min(x;y)
Chứng minh mấy cái còn lại tồn tại MRS (tính đạo hàm TU theo x,y để tính MUx, MUy r lấy
-MUx/MUy)
Perfect Complements: u(x, y) = min {x, βy}
Perfect Substitutes: u(x, y) = x + y
Câu 4-7: Cô sẽ cho một bảng chạy lượng cho một production function, ý chính như sau:
Dependent Variable: ln(q)
Coeff. ln(L)=0.50
Coeff. ln(K)=0.00
Coeff. _cons=0.00
w=wage, v=rent, p=market price, q=quantity produced
Câu 4: What is the total cost function? (wq^2)
Hàm Cobb Douglas: Q = A.K^0.L^0.5
coeff._cons=0 -> k có hệ số A, cof ln(K) = 0 -> k có máy móc gì
-> Q = L^0.5 -> L = Q^2
TC = w.L+v.K = wL (vì k có máy móc) = wq^2
Câu 5: What is the profit maximizing quantity? (p/2w)
Competitive market: profit max khi P=MC=TC’=2wQ -> Q=P/2w
Câu 6: What is the profit of the firm when producing at profit-maximizing quantity?
(p^2/4w)
TR= P.Q = P^2/2w
TC = wq^2=w(P/2w)^2=wP^2/4w^2=P^2/4w
profit = TR - TC = P^2/2w - P^2/4w = P^2/4w
Câu 7: The firm wants to increase the product price by 20%. Seeing that, the workers
demand the firm to increase the wage by 20% as well. Should the firm accept and increase
both the price and the wage? (Yes, absolutely)
1.2P = 2.4wQ
new TC = (1.2P)^2/4*1.2w = 3P^2/10w
new TR = (1.2P)^2/2*1.2w=3P^2/5w
new profit = new TR - new TC = 3P^2/10w> profit ở câu 6 ->> Accept

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PHẦN 2: GIẢI TOÁN - MARKET LEADER
(giống hệt đề online 12/2021)
A firm has a dominant position in a market where the inverse industry demand is given by:
P = 100 - 0.5 Q_T
The total cost function for the dominant firm is:
TC_D= 10 + 10 Q + 0.25 Q^2
And the sum of the marginal cost functions of the follower firms is given by:
\sum MC_F = 25 + 2 Q_F
a. What price should the dominant firm charge and how much will it produce (assume
quantities are in thousands)?
b. What price should the follower firms charge and how much will they produce (assume
quantities are in thousands)?