ch06Word格式.docx
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ch06Word格式.docx
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C)
fallsastheaveragefirmgrowslarger.
D)
remainsconstant.
E)
Noneoftheabove.
Answer:
B
QuestionStatus:
PreviousEdition
2)
Internaleconomiesofscalearisewhenthecostperunit
fallsastheindustrygrowslarger.
risesastheaveragefirmgrowslarger.
D
3)
Wherethereareeconomiesofscale,thescaleofproductionpossibleinacountryisconstrainedby
thesizeofthecountry.
thesizeofthetradingpartner'
scountry.
thesizeofthedomesticmarket.
thesizeofthedomesticplustheforeignmarket.
4)
Ifoutputmorethandoubleswhenallinputsaredoubled,productionissaidtooccurunderconditionsof
increasingreturnstoscale.
imperfectcompetition.
intra-industrytrade.
inter-industrytrade.
A
5)
Historyandaccidentdeterminethedetailsoftradeinvolving
RicardianandClassicalcomparativeadvantage.
Heckscher-Ohlinmodelconsideration.
tastereversals.
scaleeconomies.
PreviousEdition
6)
Weoftenobserveintra-industryNorth-Southtradein"
computersandrelateddevices."
Thisisdueto
classificationandaggregationambiguities.
monopolisticcompetition.
specificfactorsissues.
7)
Whyisitthatifanindustrywereoperatingunderconditionsofdomesticinternalscaleeconomies(appliestofirminthecountry)-thentheresultantequilibriumcannotbeconsistentwiththepurecompetitionmodel?
Becauseonceonefirmbecamebiggerthananother,orifonefirmbegantheindustry,thennootherfirmwouldbeabletomatchitsperunitcost,sothattheywouldbedrivenoutoftheindustry.
8)
Isitpossiblethatifpositivescaleeconomiescharacterizeanindustry,thatitsequilibriummaybeconsistentwithpurelycompetitiveconditions?
Explainhowthiscouldhappen.
Yes.Ifthescaleeconomieswereexternaltothefirm,thenthereisnoreasonwhythefirmsmaynotbeinperfectcompetition.
9)
Whyareincreasingreturnstoscaleandfixedcostsimportantinmodelsofinternationaltradeandmonopolisticcompetition?
Therearemanyanswers.Threeoftheseare
(a)Increasingreturnstoscale,andhighfixedcostsmaybeinconsistentwithperfectcompetition.Insuchacase,theinitialautarkicstatemaybeasuboptimalequilibrium.Forexample,relativepricesmaynotequalmarginalratesoftransformation.Itfollowsfromthisthatachangeinoutputcompositionsassociatedwithtrademayresultinanationalwelfareforoneorbothtradingcountriesthatisinferiortothatassociatedwiththeinitialautarkicconditions.Henceno"
gainsfromtrade."
(b)Inacaseofincreasingscaleeconomiesatthefirmorplantlevel,thedeterminationofwhichproductwillbeexportedbywhichcountryisex-anteindeterminate.Therefore,derivingclearimplicationsconcerningtheeffectsoftradeonincomedistributionssuchasmaybederivedfromtheSamuelson-StolperTheoremisnolongergenerallypossible.
(c)Marketstructurescontainingpositivescaleeconomiesandimperfectcompetitionmayallowfor"
two-waytrade,"
orintra-industrytrade.Asinb.above,thevarioustheoremsderivablefromtheHeckscher-Ohlinmodelconcerningdirectionsoftradeandincomedistributionsarenolongergenerallyapplicable.
6.2
EconomiesofScaleandMarketStructure
Externaleconomiesofscale
maybeassociatedwithaperfectlycompetitiveindustry.
cannotbeassociatedwithaperfectlycompetitiveindustry.
tendstoresultinonehugemonopoly.
tendstoresultinlargeprofitsforeachfirm.
Internaleconomiesofscale
areassociatedonlywithsophisticatedproductssuchasaircraft.
cannotformthebasisforinternationaltrade.
Wherethereareeconomiesofscale,anincreaseinthesizeofthemarketwill
increasethenumberoffirmsandraisethepriceperunit.
decreasethenumberoffirmsandraisethepriceperunit.
increasethenumberoffirmsandlowerthepriceperunit.
decreasethenumberoffirmsandlowerthepriceperunit.
C
Ifsomeindustriesexhibitinternal(firmspecific)increasingreturnstoscaleineachcountry,weshouldnotexpecttosee
intra-industrytradebetweencountries.
perfectcompetitionintheseindustries.
inter-industrytradebetweencountries.
highlevelsofspecializationinbothcountries.
Ifascaleeconomyisthedominanttechnologicalfactordefiningorestablishingcomparativeadvantage,thentheunderlyingfactsexplainingwhyaparticularcountrydominatesworldmarketsinsomeproductmaybepurechance,orhistoricalaccident.Explain,andcomparethiswiththeansweryouwouldgivefortheHeckscher-Ohlinmodelofcomparativeadvantage.
Thisstatementistrue,sincethereasonthesellerisamonopolistmaybethatithappenedtohavebeenthefirsttoproducethisproductinthiscountry.Itmayhavenoconnectiontoanysupplyordemandrelatedfactors;
nortoanynaturalorman-madeavailability.ThisisallexactlytheoppositeoftheHeckscher-OhlinNeo-Classicalmodel'
sexplanationofthedeterminantsofcomparativeadvantage.
6.3
TheTheoryofImperfectCompetition
Amonopolisticfirm
cansellasmuchasitwantsforanypriceitdeterminesinthemarket.
cannotdeterminetheprice,whichisdeterminedbyconsumerdemand.
willneversellaproductwhosedemandisinelasticatthequantitysold.
cannotselladditionalquantityunlessitraisesthepriceoneachunit.
Monopolisticcompetitionisassociatedwith
cut-throatpricecompetition.
productdifferentiation.
explicitconsiderationatfirmlevelofthefeedbackeffectsofotherfirms'
pricingdecisions.
highprofitmargins.
Modelingtradeinmonopolisticindustriesisproblematicbecause
thereisnoonegenerallyacceptedmodelofoligopolybehavior.
therearenomodelsofoligopolybehavior.
itisdifficulttofindanoligopolyintherealworld.
collusionamongoligopolistsmakesusabledatarare.
ThesimultaneousexportandimportofwidgetsbytheUnitedStatesisanexampleof
Intra-industrytradecanbeexplainedinpartby
transportationcostswithinandbetweencountries.
problemsofdataaggregationandcategorization.
Alloftheabove.
Thelargerthenumberoffirmsinamonopolisticcompetitionsituation,
thelargerarethatcountry'
sexports.
thehigheristhepricecharged.
thefewervarietiesaresold.
theloweristhepricecharged.
Inindustriesinwhichtherearescaleeconomies,thevarietyofgoodsthatacountrycanproduceisconstrainedby
thesizeofthelaborforce.
anti-trustlegislation.
thesizeofthemarket.
thefixedcost.
Itispossiblethattradebasedonexternalscaleeconomiesmayleaveacountryworseoffthanitwouldhavebeenwithouttrade.Explainhowthiscouldhappen.
Oneansweristhatthetermsoftradeeffectsmaydominateanyotherfactors.
6.4
MonopolisticCompetitionandTrade
Intra-industrytradeismostcommoninthetradepatternsof
developingcountriesofAsiaandAfrica.
industrialcountriesof
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