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5 Pages

### 6001(10)solassgin9

Course: ECON 6001, Spring 2010
School: Sydney
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Word Count: 1514

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6001: ECON Solution to Assignment 9 (1) Suppose you have 1 dollar to invest in a project. The outcome of the project depends on the state of the world. There are two states of the world: 1 and 2 and they are equally likely. In state 1, the project returns 4, 2 or nothing. Each event has an equal chance. In state 2, the return is zero for sure. Before making the investment, you can consult a nancial analyst. This...

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Sydney - ECON - 6001
ECON 6001: Solution to Assignment 1(1) Suppose that xy and preferences are transitive. Show that I (x)and I (y ) (the indierence sets for x and y respectively) can not havea point in common, i.e, these sets must be disjoint.Take z I (x), then, z x. B
Sydney - ECON - 6001
ECON 6001: Solutions to Assignment 6(1) For each of the following games, nd out a) the set of dominatedstrategies (strict and weak) for each player and b) the set of Nashequilibria.Player 1Player 2LR4, 2 3, 22, 0 3, 3TBFor player 1, T weakly d
Sydney - ECON - 6001
ECON 6001: Solutions to Assignment 7(1) Two players are involved in a strategic situation where each choosesa number x [0, 2]. Given a choice (x1 , x2 ), payo to player 1 isx1 (1 x2 ) and that of player 2 is x2 (2 x1 ).(a) Determine the set of strictl
Sydney - ECON - 6001
ECON 6001: Assignment 3(1) The following table gives us the utility of a consumer from consumptionof dierent slices of pizzas:Table 1HamburgerUtility0018214318420.5521(a) Determine the consumer surplus at prices P = 7 and P = 3.5(b) Ass
Sydney - ECON - 6001
ECON 6001: Assignment 4(1) Consider a two good/two agent economy where the endowment vector ofagent A is (10, 5) and that of agent B is (0, 5). The utility function ofagent A is uA = x1 x2 and that of agent B is uB = min(x1 , x2 ).(a) In an Edgeworth
Sydney - ECON - 6001
ECON 6001: Assignment 5(1) Consider a competitive producer that produces in a market with p = 8and has the cost function C (q ) = q 2 . However every unit of q generatesa net benet of 4 for rm B(a) Find out the prot maximizing output choice of the mon
Sydney - ECON - 6001
ECON 6001: Some Practice Questions(1) In exchange economy, there are two goods and three agents. The utilityfunction of the rst agent is u1 = 2x1 + x2 , the second agent has utilityx1function u2 = 1+2x2 while the utility function of the third agent is
Sydney - ECON - 6001
ECON 6001: Some Practice QuestionsSection I - True /False. Explain.(a) Consumer A s utility function is x1 + x2 while that of B is (x1 + x2 )2 .At p1 = p2 = 1 and m = 10, both agents must demand the samecommodity bundle.(b) The utility function of an
Sydney - ECON - 6001
ECON 6001: Answers to Some Practice QuestionsSection I - True /False. Explain.(a) Consumer A s utility function is x1 + x2 while that of B is (x1 + x2 )2 .At p1 = p2 = 1 and m = 10, both agents must demand the samecommodity bundle.False, consumer B u
Sydney - ECON - 6001
The University of SydneySCHOOL OF ECONOMICS AND POLITICAL SCIENCEECON 6001: Microeconomic AnalysisMid-Semester Examination I, Semester 1, 2010Due: the exam is due back in class on 15th of April.Section A - True/FalseInstructions: There are eight que
Sydney - ECON - 6001
ECON 6001: Solutions to Assignment 4(1) Consider a two good/two agent economy where the endowment vector ofagent A is (10, 5) and that of agent B is (0, 5). The utility function ofagent A is uA = x1 x2 and that of agent B is uB = min(x1 , x2 ).(a) In
Sydney - ECON - 6001
ECON 6001: Solution to the Practice Questions(1) In exchange economy, there are two goods and three agents. The utilityfunction of the rst agent is u1 = 2x1 + x2 , the second agent has utilityx1function u2 = 1+2x2 while the utility function of the thi
Sydney - ECON - 6001
ECON 6001: Solutions to Assignment 5(1) Consider a competitive producer that produces in a market with p = 8and has the cost function C (q ) = q 2 . However every unit of q generatesa net benet of 4 for rm B(a) Find out the prot maximizing output choi
Sydney - ECON - 6001
The University of SydneyFACULTY OF ECONOMICS AND BUSINESSECON 6001: MicroeconomicsSolution to Midterm Test IITime: 2 hoursNote: The Exam consists of two sections. Section A has of ve true/falsequestions. This section is worth 20 points. Section B ha
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Problem Set 2Problem 1(i) First order conditions with respect to , and respectively.(ii) Assuming saving rate at at time t.Assuming ,Problem 2In the steady state of the economy,Problem 3
Sydney - ECON - 6001
Problem Set 3Part 2Problem 1Under pre-commitment policy,Under discretionary policy without delegation,(ii) The determination of inflation in the absence of commitment:If we impose and solve for inflation rate, we obtain:(iii)Problem 2(i) (i)(iii
Sydney - ECON - 5002
CHAPTER11Saving,CapitalAccumulationandOutputQuickCheck1.a.True.If saving includes public and private saving.b.False.A higher saving rate that leads to a higher rate of investment can onlysustain higher output growth until output reaches its new
Sydney - ECON - 5002
CHAPTER12TechnologicalProgressandGrowthQuickCheck1.a.True.The production function Y = F(K,AN) implies that a 10% decrease in Ncan be compensated by a 10% increase in A to yield the same Y, givenK.b.True.The steady-state capital per effective wo
Sydney - ECON - 5002
CHAPTER14Expectations:TheBasicToolsQuickCheck1.a.True.b.True.c.True.d.False.The real interest rate is equal to the nominal interest rate minus theexpected inflation rate.e.True.In the medium run, the real interest rate returns to its natur
Sydney - ECON - 5002
CHAPTER16Expectations,ConsumptionandInvestmentQuickCheck1.a.False.May be more reasonable to assume that human wealth (e.g., labourincome) &gt; non-human wealth (e.g., real estate and financial assets).b.False.Research on retirement generally paints
Sydney - ECON - 5002
CHAPTER19TheGoodsMarketinanOpenEconomyQuickCheck1.a.False.Other possible reasons include low savings rate, falling budget surplus,and rising budget deficit.b.False.An increase in the budget deficit will lead to an increase in the tradedeficit,
Sydney - ECON - 5002
CHAPTER20Output,theInterestRateandtheExchangeRateQuickCheck1.a.Uncertain.The answer depends on the exchange rate regime in place. Underfixed exchange rates, fiscal policy triggers monetary policyaccommodation which magnifies the initial fiscal po
Sydney - ECON - 5002
CHAPTER21ExchangeRateRegimesQuickCheck1. a.True.Britain returned to the gold standard at too appreciated a parity.b.True.The initial, although unfounded, belief may evolve into a self-fulfillingprophecy.c.Uncertain.However, such drastic capita
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