求英语+经济学达人回答下面3个问题Question 1Cherie has a two hour lecture starting at 2.00pm.She purchases a parking permit that is valid until4.00pm.Her class finishes early.Not wanting to waste the money spent on the permit,Cherie decides togo to the cafeteria to have a coffee.Comment on the thinking behind Cherie’s choice being careful todescribe the decision pitfall illustrated.Briefly explain how Cherie should make the decision aboutwhether or not to go to the ca
求英语+经济学达人回答下面3个问题
Question 1
Cherie has a two hour lecture starting at 2.00pm.She purchases a parking permit that is valid until
4.00pm.Her class finishes early.Not wanting to waste the money spent on the permit,Cherie decides to
go to the cafeteria to have a coffee.Comment on the thinking behind Cherie’s choice being careful to
describe the decision pitfall illustrated.Briefly explain how Cherie should make the decision about
whether or not to go to the cafeteria
Question 2
Suppose the market for bananas is perfectly competitive and is initially in equilibrium.Use a supply and
demand diagram to help you explain what will happen to the equilibrium price and quantity of bananas if
there is a fall in the price of apples.Carefully describe the process by which the banana market moves
from the initial equilibrium to the new equilibrium.
Question 3
Carefully explain what economists mean when they say that there is “no cash left on the table” when a
market is in equilibrium.Use a supply and demand diagram to illustrate your explanation.
请用英文回答哈,
晕...我的英语水平有限,点出点来你再重新组织吧...
1.沉没成本 sunk cost
Cherie should not go to the cafeteria,for the money spent on permit can't be changed whatever she does,it is a sunk cost.What's more,if she chose to go to the cafeteria,she would spend more money.A rational decision is just ignoring the permit.
2.替代品 substitute
Apples are substitute for bananas.So when there's a fall in the price of apples,the demand of bananas will decrease,for people will consume apples instead of bananas.（Reflected in the diagram is the left-shift of Demand Curve）Yet the suppliers of bananas don't know the change (so Supply Curve remains).They will have to reduce price to attract consumers,yet still can't sell all bananas(in the diagram the new equilibrium is below the initial one,both price and quantity decrease)
大概需要画个图,就是D曲线左移,均衡点变低.不知道够不够详细
3.我也不知道中文怎么讲,exploited opportunities==就是没有改进的余地,达到帕萨特最优
In a market where price is below equilibrium,the sellers' reservation price is lower that of buyers.So he can increase his price equal to that of buyers and gains more profit.Then the market reaches equilibrium and no one can benefit without someone loses,or to say no mutually benefitical exchanges.
不知道合不合你的意思...