(b)(5%) Suppose that McDaniel sells fish and chips separately (i.e., consumers can purchase only fish or only chips from McDaniel). Find out McDaniel's equilibrium profit after KFF enters into the market, and the value of \( F \).

(c)(6%) Suppose that McDaniel serves only a set menu, which consists of fish and chips, at a price \( p^M \), and so consumers cannot buy only fish or only chips from McDaniel. Find out McDaniel's equilibrium price \( p^M \) and profit after KFF enters into the fish market.

(d)(4%) Suppose that \( f = 2 \) and McDaniel only offers the set menu as in question (c). Find out the equilibrium profit of McDaniel and KFF, respectively, of the whole game.

For the remaining three questions in this part, consider fish and chips as perfect complements. That is, a consumer obtains the consumption benefit of $20 for fish and $12 for chips only if he eats both fish and chips. For other consumption behaviors (eating only fish, only chips, or nothing), the consumption benefit is zero. (e)(4%) Find out McDaniel's monopoly profit (i.e., when KFF would never enter).

(f)(6%) Suppose that KFF has entered into the market, and McDaniel sells fish and chips separately. Let \( pA^K \) be KFF's price of fish, and \( pA^M \) McDaniel's price of fish and \( p_B^M \) McDaniel's price of chips. Find out prices and McDaniel's profit in Bertrand equilibrium.

(g)(4%) Suppose that \( f = 2 \) and McDaniel serves only a set menu. Find out McDaniel's profit in equilibrium of the whole game.

V.A father-son pair use the following income streams to finance their living in 2021 and 2022. The father earns $100 in 2021, but plans to retire early and so will only earn $20 in 2022. The son is undergoing a training program and earns only $20 in 2021, but will finish the training and earn $100 in 2022. By consuming $c1$ in 2021 and $c2$ in 2022, the father obtains utility $UF = \min\{c1, c2\}$, and the son obtains $US = \ln c1 + 0.8 \ln c2$. Both $c1$ and $c2$ are continuous. (a)(4%) Suppose that they can save or borrow at zero interest rate, which is close to current situation. How much, if any, would the father and son, respectively, optimally save or borrow in 2021?

(b)(6%) Suppose that they have no access to the financial market, but can make the following arrangement. The father gives the son an amount of $R in the red envelope in 2021, and the son gives the father some pocket money $P in 2022, where R and P ≥ 0 (a negative amount means the opposite flow of money). Describe all the Pareto optimal pairs (R, P), if any, that both would agree, and illustrate in a figure. (There is no need to compute the exact number.)

(c)(7%) Following the previous question, find out all the Pareto optimal pairs, if any, that could be implemented by the financial market (i.e., through private borrowing and saving when both are price-takers), and the corresponding interest rate.

115年 - 115 國立臺北大學_碩士班一般入學考試試題_經濟學系：個體經濟學#146554

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