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##### ECON 302 - INMD MICROEC ANLY - Penn State Study Resources
• 4 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #1 McLeod Due in class Monday, January 25. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be three separate sheets of paper. After you have written your answers, please staple the three sheets

• 7 Pages

School: Penn State

Econ 302 Homework #1 McLeod Due in class Wednesday, September 11th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be seven separate sheets of paper. After you have written your answers, please staple the seven

• 3 Pages
###### 302HW1

School: Penn State

Course: INMD MICROEC ANLY

1. (20 total points) Suppose the demand for a product is given b y QD = 2 000 - 25P. a) (10 points) Calculate the Price Elasticity o f Demand when the price is \$30 . . 16p =20QV - 0,> c-. - p-:;:t?JO .-1:- (~(J 7: =- - Yz'5 ~?o) 7: -:. -l~(%S1 Qp ~ JOIn

• 7 Pages

School: Penn State

Course: INTERMEDIATE MICROECONOMIC ANALYSIS

Econ 302 Homework #1 McLeod Due in class Wednesday, September 12th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be seven separate sheets of paper. After you have written your answers, please staple the seven

• 7 Pages
###### Homework

School: Penn State

Course: INTERMEDIATE MICROECONOMIC ANALYSIS

Econ 302 Homework #1 McLeod Due in class Wednesday, September 12th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be seven separate sheets of paper. After you have written your answers, please staple the seven

• 7 Pages

School: Penn State

Course: Micro

Econ 302 Homework #1 McLeod Due in class Wednesday, January 29th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. After you have written your answers, please staple the seven sheets together at the top left-hand corner. The f

• 6 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #6 McLeod Due in class Friday, April 30th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be six separate sheets of paper (including the cover sheet). After you have written your answers, pleas

• 5 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #2 McLeod Due in class Monday, February 8. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be five separate sheets of paper (including the cover sheet). After you have written your answers, plea

• 1 Page
###### 8429533

School: Penn State

Suppose a consumer has preferences represented by the utility function U(X,Y) = MIN[X,3Y]. Suppose PX = 1 and PY = 2. Draw the Income Consumption Curve for this consumer for income values M = 100, M = 200, and M = 300. Your graph should accurately draw th

• 4 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #3 McLeod Due in class Monday, March 1st. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, pleas

• 1 Page
###### Quiz 3-10

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 McLeod Quiz 2 Name _ ID # _ 1. (8 points) Calculate the price elasticity of demand for each of the following situation: a) Demand is given by Q = 50 2P, and P = 20. -4 b) Demand is given by Q = 80 5P, and P = 6. -3/5 or -.6 2. (8 points

• 5 Pages
###### Homework_4

School: Penn State

Course: INTERMEDIATE MICROECONOMIC ANALYSIS

1. (20 points) Suppose a monopolist can purchase Labor at a price w = 36 and can purchase Capital at a price r = 25. The monopolists production function is given by Q = L1/2K1/2. The demand facing the monopolist is given by P = 180 3Q. a) What is the Mono

• 4 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #5 McLeod Due in class Monday, April 12th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, plea

• 4 Pages
###### Econ302-8429533

School: Penn State

Suppose a consumer has preferences represented by the utility function U(X,Y) = MIN[X,3Y]. Suppose PX = 1 and PY = 2. Draw the Income Consumption Curve for this consumer for income values M = 100, M = 200, and M = 300. Your graph should accurately draw th

• 6 Pages
• ###### Econ_302.7_Syllabus_Spring_2010
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###### Econ_302.7_Syllabus_Spring_2010

School: Penn State

Course: INMD MICROEC ANLY

Course Syllabus for Econ 302, Section 007: Intermediate Microeconomics Penn State, Spring 2010 Instructor: Dr. Mark McLeod Prerequisite: Econ 002 or equivalent Lectures: MWF 2:30-3:20 010 Sparks Office: 507 Kern Graduate Building Office Hours: MWF 12-1 or

• 6 Pages
• ###### Homework_3_Answer_Key (1)
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School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #3 McLeod Due in class Wednesday October 23rd. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers,

• 6 Pages

School: Penn State

Course: INTERMEDIATE MICROECONOMIC ANALYSIS

Econ 302 Homework #2 McLeod Due in class Wednesday, September 26th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the shee

• 5 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #4 McLeod Due in class Monday, March 22nd. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, plea

• 5 Pages
###### Econ302HW3

School: Penn State

Econ 302 Homework 3 Read these instructions carefully! Carefully answer each of the questions below You can write or type your answers for the questions Please put your name and PSU ID number at the top of the 1st page You may use as many sheets of paper

• 2 Pages
###### Quiz 1

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Quiz 1 McLeod 1. (6 points) For each of the following questions, please answer with either increase, decrease, or remain unchanged. Only one of these answers is correct in each case. Suppose guitars and guitar strings are complements. hap

• 2 Pages
###### Aaaaa

School: Penn State

Suppose a consumer has preferences represented by the utility function U(X,Y) = MIN[X,3Y]. Suppose PX = 1 and PY = 2. Draw the Income Consumption Curve for this consumer for income values M = 100, M = 200, and M = 300. Your graph should accurately draw th

• 7 Pages
###### Homework_1

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #1 McLeod Due in class Wednesday, September 11th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be seven separate sheets of paper. After you have written your answers, please staple the seven

• 4 Pages
###### Homework_2 (1)

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #2 McLeod Due in class Wednesday, September 25th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the shee

• 6 Pages
###### Homework 5 Answer Key

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #5 McLeod Due in class Wednesday December 11th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be six separate sheets of paper (including the cover sheet). After you have written your answers,

• 11 Pages
• ###### Exam 1 Version B Answer Key
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###### Exam 1 Version B Answer Key

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Exam 1 McLeod NAME _ PSU ID # _ PLEASE ANSWER ALL QUESTIONS IN THE SPACE PROVIDED. 1. (24 total points) Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A is given an initial endowment of 1 units of good X and 5 units of

• 11 Pages
• ###### Exam 2 Version D Answer Key
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###### Exam 2 Version D Answer Key

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Exam 2 McLeod Name (please print): _ Penn State ID #: _ _ Please write all answers in the spaces provided. Please show your work in order to receive any partial credit on this exam. 1. (20 points) Suppose a firm has a production function given by

• 3 Pages
###### Final Exam Preview

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Final Exam Preview Summer 2013 Thursday, December 19th, 2:30-4:20 100 Thomas/ 110 Wartik (I will send an email telling you which room to go to, and I will announce this in class on Friday) 7 Large Problems 1. Income/Substitution Effect Problem D

• 5 Pages
• ###### Homework 2 Answer Key copy
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###### Homework 2 Answer Key Copy

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #2 McLeod Due in class Wednesday, September 25th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the shee

• 6 Pages
###### Homework 4 Answer Key

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #4 McLeod Due in class Wednesday, November 6th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. The first sheet is intended only as a cover sheet. Do not write anything on the first sheet except your name an

• 12 Pages
###### Exam 1 Key

School: Penn State

Course: INMD MICROEC ANLY

Exam 1 Econ 304 Chuderewicz - Spring 2013 Name _ Last 4 (PSU ID) _ Please circle section you are registered in Sparks (11:15 am) Thomas (2:30 pm) PLEASE PUT THE FIRST TWO LETTERS OF YOUR LAST NAME ON TOP RIGHT HAND CORNER OF THIS COVER SHEET THANKS AND GO

• 12 Pages
• ###### Exam 2 Version B Answer Key
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###### Exam 2 Version B Answer Key

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Exam 2 McLeod Name (please print): _ Penn State ID #: _ _ Please write all answers in the spaces provided. Please show your work in order to receive any partial credit on this exam. 1. (20 points) Suppose a firm has a production function given by

• 7 Pages
###### Hw13022222

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #1 McLeod Due in class Wednesday, September 11th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be seven separate sheets of paper. After you have written your answers, please staple the seven

• 6 Pages
###### Homework 3

School: Penn State

Course: Intermediate Microeconomic Analysis

Econ 302 Homework #3 McLeod Due in class Wednesday October 23rd. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers,

• 2 Pages
###### Lecture Notes #5

School: Penn State

Course: Intermediate Microeconomic Analysis

• 5 Pages
###### Lecture Notes #4

School: Penn State

Course: Intermediate Microeconomic Analysis

• 2 Pages
###### Lecture Notes #2

School: Penn State

Course: Intermediate Microeconomic Analysis

• 3 Pages
###### Lecture Notes #1

School: Penn State

Course: Intermediate Microeconomic Analysis

• 11 Pages
• ###### Exam 1 Version A Answer Key copy
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###### Exam 1 Version A Answer Key Copy

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Exam 1 McLeod NAME _ PSU ID # _ PLEASE ANSWER ALL QUESTIONS IN THE SPACE PROVIDED. 1. (24 total points) Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A is given an initial endowment of 3 units of good X and 5 units of

• 11 Pages
• ###### Exam 1 Version C Answer Key
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###### Exam 1 Version C Answer Key

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Exam 1 McLeod NAME _ PSU ID # _ PLEASE ANSWER ALL QUESTIONS IN THE SPACE PROVIDED. 1. (24 total points) Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A is given an initial endowment of 6 units of good X and 1 unit of

• 4 Pages
###### Exam 2 Study Guide

School: Penn State

Course: INMD MICROEC ANLY

Wednesday, November 13th 8:15-10:15 pm Bring Pencil; ID Office Hours Tuesday TBA; Locations TBA 5 Long Problems: Find Total Cost Function; Graph Isocost and Isoquant for a given Q Monopoly Question(QM PM CS PS TS DWL Lerner Index) Perfect Competition Q

• 12 Pages
• ###### Exam 2 Version A Answer Key
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###### Exam 2 Version A Answer Key

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Exam 2 McLeod Name (please print): _ Penn State ID #: _ _ Please write all answers in the spaces provided. Please show your work in order to receive any partial credit on this exam. 1. (20 points) Suppose a firm has a production function given by

• 11 Pages
• ###### Exam 2 Version C Answer Key
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###### Exam 2 Version C Answer Key

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Exam 2 McLeod Name (please print): _ Penn State ID #: _ _ Please write all answers in the spaces provided. Please show your work in order to receive any partial credit on this exam. 1. (20 points) Suppose a firm has a production function given by

• 4 Pages
###### Hw23022222

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #2 McLeod Due in class Wednesday, September 25th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the shee

• 5 Pages
###### Homework 6

School: Penn State

Course: INMD MICROEC ANLY

C.) The U.S. is running a trade decit which means we are spending beyond our means and China has a surplus making them the savers. We are absorbing (C+I+G) more then we are making (income =Y) therefore we are consuming beyond our income and the opposite

• 6 Pages

School: Penn State

Course: Micro

Econ 302 Homework #2 McLeod Due in class Wednesday, February 19th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the sheet

• 4 Pages
###### Homework 4

School: Penn State

Course: INMD MICROEC ANLY

D.) Dagwood is now worse o with the falling of the interest rates because as a saver, his future dollar is now worth less so he would be better o spending it now and borrowing in the future. The substitution eect acts to stimulate current consumption by

• 7 Pages
• ###### Lesson 7 _ monetary policy
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###### Lesson 7 _ Monetary Policy

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Course: INMD MICROEC ANLY

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###### Homework 5

School: Penn State

Course: INMD MICROEC ANLY

D.) K* has changed because if I did not change my capital input then I would not be on the MPK curve anymore nor would I be maximizing my prots. This is because at the higher UC I can only have 70 units of capital if I have more they will be less eective

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• ###### Screen Shot 2014-03-29 at 4.10.05 PM 1
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###### Screen Shot 2014-03-29 At 4.10.05 PM 1

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Course: INMD MICROEC ANLY

• 4 Pages
• ###### Lesson 6_ Goods market equilibrium in open economy
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###### Lesson 6_ Goods Market Equilibrium In Open Economy

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Course: INMD MICROEC ANLY

• 5 Pages
###### ECON302_HW1_KEY

School: Penn State

Course: INMD MICROEC ANLY

Answer Key Econ 302 WC Homework 1 1. (20 total points) Suppose the demand for a product is given by QD = 2000 25P. a) (10 points) Calculate the Price Elasticity of Demand when the price is \$30. = -.6 b) (5 points) What price should the firm charge if it

• 11 Pages
• ###### ECON302_PennState_FinalExamKey
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###### ECON302_PennState_FinalExamKey

School: Penn State

Course: INMD MICROEC ANLY

1. louantity lo 11 12 13 11~]ve lire lAFe lAve lAre lMe I l~@JDEJEJDu IDD~CJCJDD IDDDCJ~DD IDDDCJCJD~ >rrect Answer( s): louantity lFe live lR JIAFe lAve lAre lMe I lo l ~@J[filDDEJD 11 12 13 l ~J~[fil~[fil[Q] l ~CEJ[Ifil~[JQJ l~ITfil~lli:J~ 2. (16 total

• 7 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #1 McLeod Due in class Wednesday, January 29th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. After you have written your answers, please staple the seven sheets together at the top left-hand corner. The f

• 6 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #2 McLeod Due in class Wednesday, February 19th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the sheet

• 5 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #3 McLeod Due in class Wednesday March 26th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, pl

• 6 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #4 McLeod Due in class Wednesday, April 9th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. The first sheet is intended only as a cover sheet. Do not write anything on the first sheet except your name and I

• 6 Pages
• ###### Lesson 5_ Capital stock, Investment demand, Goods market equilibrium
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###### Lesson 5_ Capital Stock, Investment Demand, Goods Market Equilibrium

School: Penn State

Course: INMD MICROEC ANLY

• 5 Pages
• ###### Lesson4_ Consumption-Saving, Lending-Borrowing
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###### Lesson4_ Consumption-Saving, Lending-Borrowing

School: Penn State

Course: INMD MICROEC ANLY

Increasing the Real Interest Rate Deriving savings function Example of a savings function

• 2 Pages
###### Q2

School: Penn State

Course: INMD MICROEC ANLY

D.) K* has changed because if I did not change my capital input then I would not be on the MPK curve anymore nor would I be maximizing my prots. This is because at the higher UC I can only have 70 units of capital if I have more they will be less eective

• 5 Pages
###### Econ_302_WC_Homework_1

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework 1 1. (20 total points) Suppose the demand for a product is given by QD = 2000 25P. a) (10 points) Calculate the Price Elasticity of Demand when the price is \$30. E[d]= (dQ/dP).(P/Q) E[d]=-25.30/1250=-0.6 b) (5 points) What price should t

• 6 Pages
###### ECON 302 Syllabus

School: Penn State

Course: INMD MICROEC ANLY

ECON 302: Intermediate Microeconomic Analysis Syllabus COURSE INFORMATION INSTRUCTOR INFORMATION Credits: 3 Name: Guo Yesheng Delivery: Web, ANGEL Email: Use ANGEL email Dates: See calendar Notes on Communication Email: Please use Course Mail (ANGEL Email

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###### Homework #2 Answer Key

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 WC Homework 2 Answer Key 1. (20 points) Suppose a consumer views two goods, X and Y, as perfect complements. Her utility function is given by U = MIN [X, 2Y]. Sketch the graph of the consumers indifference curve that goes through the bundle X = 6

• 5 Pages
###### Homework #3

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework 3 Read these instructions carefully! Carefully answer each of the questions below. You need to show your work, not just the final answer You can write or type your answers for the questions Please put your name and PSU ID number at the t

• 3 Pages
###### Demand

School: Penn State

Course: INMD MICROEC ANLY

Demand It is important to understand these concepts related to the demand for a product: Quantity Demanded (QD): The amount of a good that consumers are willing to buy at a given price, during a given period of time. In general, the QD of a good will depe

• 2 Pages
###### Market Equilibrium

School: Penn State

Course: INMD MICROEC ANLY

MarketEquilibrium The term equilibrium is used in many applications in economics and other disciplines. In all cases, it means essentially the same thing. Equilibrium is a situation where there is no tendency for change. With no government policies, equil

• 2 Pages
###### Supply

School: Penn State

Course: INMD MICROEC ANLY

Supply And here is important terminology related to supply: Supply Schedule: a table that shows the relationship between Price and QS. When we create a Supply schedule, we hold all of the things that determine QS constant except for the price of the good.

• 3 Pages
###### Homework 8

School: Penn State

Course: INMD MICROEC ANLY

B) the sher equation is real Interest rates plus ination Equals nominal rate they want to do this to increase the nominal interest rates. d) as the ination expectations increase the current value of the future dollar decreases therefore people get more

• 3 Pages
###### Homework 7

School: Penn State

Course: INMD MICROEC ANLY

We can say this is true due to the change in size of the excess reserves. They increases over 800 times due to the FED's open market purchases. While the monetary base has expanded it is no where near the growth of the excess reserves because most of the

• 2 Pages
• ###### Lesson 8_ Portfolio allocation and demand for money
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###### Lesson 8_ Portfolio Allocation And Demand For Money

School: Penn State

Course: INMD MICROEC ANLY

• 2 Pages
###### Test 1 Q1

School: Penn State

Course: INMD MICROEC ANLY

D) Dagwood is now worse o because of the rise in real interest rates. The substitution eect is more inuential because he now has to trade more current consumption for future consumption. The income eect is being dominated as he will not have as much in t

• 7 Pages

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Homework #5 McLeod Due in class Wednesday April 30th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be six separate sheets of paper (including the cover sheet). After you have written your answers, ple

• 2 Pages
###### Quiz 3

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Quiz 3 McLeod Name _ ID # _ 1. Suppose the market supply and demand for softball gloves in Happy Valley are given by: Demand: Q = 480 10P Supply: Q = -180 + 12P A) (2 points) Calculate the equilibrium price and quantity of softball glove

• 2 Pages
###### 8420776

School: Penn State

Suppose a consumer views two goods, X and Y, as perfect complements. Her utility function is given by U = MIN [X, 2Y]. Sketch the graph of the consumers indifference curve that goes through the bundle X = 6 and Y = 5. Put the amount of Y on the vertical a

• 1 Page
###### 8420781

School: Penn State

uppose a consumer has \$600 to spend on two goods, Good X and Good Y. The price of Good X is given by PX = \$20. The price of Good Y is given by PY = \$15. Graph the consumers budget constraint. Please put the quantity of Good X on the horizontal axis, and t

• 2 Pages
###### 8430314

School: Penn State

Suppose the demand for a particular product (swimsuits) is highly inelastic.What does that suggest about the wage elasticity of demand for workers in the industry that produces swimsuits?Describe the effect of a binding minimum wage in this industry. Be s

• 2 Pages
###### 8430803

School: Penn State

Suppose a public referendum is being held on whether or not to levy a tax on cigarettes. Currently, the supply of cigarettes is given by Qs = -900 + 200P. You estimate the demand for cigarettes to be Qd = 1200 - 50P.You are asked to evaluate the likely ef

• 2 Pages
###### 8430806

School: Penn State

Suppose you have \$600 to spend on either concert tickets or CDs. Concert tickets cost \$15 each, and CDs cost \$12 each. Let T = the number of Concert Tickets, and C = the number of CDs. a) Write the equation of the consumers budget constraint. 15T +12C = 6

• 1 Page
###### Econ302- 8429533-1

School: Penn State

• 5 Pages
###### Econ302Homework_2

School: Penn State

Econ 302 Homework 2 Read these instructions carefully! Carefully answer each of the questions below You can write or type your answers for the questions Please put your name and PSU ID number at the top of the 1st page You may use as many sheets of paper

• 1 Page
###### Q=l

School: Penn State

Need to show work Suppose a firms production function is given by Q = L1/2*K1/2. The Marginal Product of Labor and the Marginal Product of Capital are given by: MPL = , and MPK = . a) If the price of labor is w = 36, and the price of capital is r = 64, ho

• 199 Pages
###### Sol1-3

School: Penn State

1 1True (A B ) = (A ) = so ( ) = This is the requirement for exhaustive 2False ( ) = () + () ( ) = 0.3 + 0.25 0.5 = 0.05 0 So they are not mutually exclusive 2 a) E(R) = -0.39 V(R) = 0.051 Just use E(R) = ( = ) = 0.3 0.1 + = -0.39 For V(R), use () = (2 )

• 220 Pages
###### Sol5-7

School: Penn State

5. 1) P( Dull & Hipster ) = 0.6 0.4 = 0.2 2) P(Granny) = 1 0.6 = 0.4 P(Dull & Granny) = 0.4 * 0.98 = 0.392 P(Flashy & Granny) = 0.4 * (1-0.98) = 0.008 P( Flashy & Granny | Flashy) = 0.008/(0.4+0.008) = 0.0196 3) P(Dull) = 0.392 + 0.2 = 0.592 6. 30 = 1 for

• 6 Pages
###### 302hw6

School: Penn State

Econ 302 Homework 6 Read these instructions carefully! Carefully answer each of the questions below You can write or type your answers for the questions Please put your name and PSU ID number at the top of the 1st page You may use as many sheets of paper

• 6 Pages
• ###### Course_Syllabus_for_Econ_302.2_Fall_2013 (1)
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###### Course_Syllabus_for_Econ_302.2_Fall_2013 (1)

School: Penn State

Course: Intermediate Microeconomics

Course Syllabus for Econ 302, Section 002: Intermediate Microeconomics Penn State, Fall 2013 Instructor: Dr. Mark McLeod Prerequisite: Econ 102 or equivalent Lectures: MWF 4:40-5:30 in 111 Forum Office: 507 Kern Graduate Building Office Hours: MWF 2:30-3:

• 2 Pages
###### Quiz 4

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Quiz 4 McLeod Name _ ID # _ 1. (8 points) Suppose a consumer has \$900 to spend on either baseballs or baseball gloves. Suppose baseballs cost \$5 each and gloves cost \$25 each. Draw the budget constraint for this consumer. Please put the n

• 2 Pages
###### Quiz 5

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Quiz 5 McLeod Name _ ID# _ 1. (10 points) Suppose a consumers preferences are given by U(X,Y) = X*Y. Thus, the marginal utility of X, MUx = Y and the marginal utility of Y, MUy = X. Suppose the consumer has \$600 to spend and the price of

• 2 Pages
###### Quiz 6

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Quiz 6 McLeod Name _ ID # _ 1. Suppose a consumers utility function is given by U(X,Y) = X*Y. Also, the consumer has \$1800 to spend, and the price of X, PX = 9, and the price of Y, PY = 25. a) (4 points) How much X and Y should the consum

• 2 Pages
###### Quiz 7

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Quiz 7 McLeod Name _ ID # _ 1. Suppose there are two consumers, A and B. The utility functions of each consumer are given by: UA(X,Y) = X2Y UB(X,Y) = X*Y Therefore: For consumer A: MUX = 2XY; MUY = X2 For consumer B: MUX = Y; MUY = X Th

• 1 Page
###### Quiz 8

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Quiz 8 McLeod Name _ ID # _ 1. (16 points)Suppose a firms production function is given by Q = AL K . Thus the marginal product of labor is given by: MPL = AL 1 K and the marginal product of capital is given by: MPK = AL K 1 Suppose 1 1

• 1 Page
###### Quiz 9

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 Quiz 9 McLeod Name _ ID# _ 1. (12 points) Suppose there are n identical firms in a market. Each firms cost function is given by C = 500 + 20q2, where q is the amount that an individual firm produces. This means that an individual firms ma

• 3 Pages
###### Quiz 10

School: Penn State

Course: INMD MICROEC ANLY

Econ 302 McLeod Quiz 10 Name _ ID # _ 1. Suppose a monopolist has a production function given by Q = L1/2K1/2. Therefore, K 1/ 2 L1 / 2 MPL = 1 / 2 , and MPK = 2L 2K 1 / 2 The monopolist can purchase labor, L at a price w = 25, and capital, K at a

• 2 Pages
###### Exam3

School: Penn State

Course: INMD MICROEC ANLY

Production function- the relationship between the quantities of inputs used and the maximum quantity of output that can be produced, give current knowledge about technology and organization Short run- a period of time so brief that at least one facto

• 36 Pages
###### Examreview 1

School: Penn State

Example Problems for Chapter 2 1. Consider an economy that produces only two goods: fresh apricots and dried apricots. In this economy, the technology of producing dried apricots is to place fresh apricots on special racks and allow them to dry in the sun

• 6 Pages
###### Homework_4

School: Penn State

Course: Intermediate Microeconomics

Econ 302 Homework #4 McLeod Due in class Wednesday, November 7th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. The first sheet is intended only as a cover sheet. Do not write anything on the first sheet except your name an

• 1 Page
###### Table

School: Penn State

Quantity 0 1 2 3 4 5 FC 45 45 45 45 45 45 VC 0 20 35 120 TC 45 65 80 165 AFC -45 22.5 15 11.25 9 AVC -20 17.5 ATC -65 40 24 30 33 MC -10

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###### 302hw3

School: Penn State

• 1 Page
###### 302q2

School: Penn State

L; ~Iy:; q I Z~ (l~ 2S(_J:-QY GtX Z~: I~CO ~; I~cfw_ so =3l_p k 'X > Z~ y: %/q 160 0 b'J ll: I tb xS[O : ~(oo() e:y ~I'i; Lcfw_\ZS 2S~:U')( Ai'l -T /&00 2S~:, . t~J~rJ0c(s dj~ en \)~Uj). q~U z- ~ ~u;. n'@lA.) co'cfw_/oO ~ S6() ,<",. l nCD'YY\.9 cz?:J:O x:

• 1 Page
###### Drawing2

School: Penn State

Course: INMD MICROEC ANLY

• 1 Page
###### Drawing3

School: Penn State

Course: INMD MICROEC ANLY

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###### Econ 302 Notes

School: Penn State

Course: INMD MICROEC ANLY

Get graphs Econ 302 Notes Assumptions about Consumer Preferences o Completeness o Transitivity For all bundles A,B,C If A B and if B C then A C o More is better For all bundles A & B If A has at least as much of each good as B, and A has more of some

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