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ECON 302 - INMD MICROEC ANLY - Penn State Study Resources
  • 4 Pages Homework_1Answer_Key
    Homework_1Answer_Key

    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 Homework_1_Answer_Key
    Homework_1_Answer_Key

    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
    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 Homework_1_Answer_Key
    Homework_1_Answer_Key

    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
    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 Homework_1_Answer_Key
    Homework_1_Answer_Key

    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 Answer_Key_Homework_6
    Answer_Key_Homework_6

    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 Answer_Key_Homework_2
    Answer_Key_Homework_2

    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
    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 Answer_Key_Homework_3
    Answer_Key_Homework_3

    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
    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
    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 Answer_Key_Homework_5
    Answer_Key_Homework_5

    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
    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
    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)
    Homework_3_Answer_Key (1)

    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 Homework_2_Answer_Key
    Homework_2_Answer_Key

    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 Answer_Key_Homework_4
    Answer_Key_Homework_4

    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
    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
    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
    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
    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)
    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
    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
    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
    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
    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
    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
    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
    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
    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
    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
    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
    Lecture Notes #5

    School: Penn State

    Course: Intermediate Microeconomic Analysis

  • 5 Pages Lecture Notes #4
    Lecture Notes #4

    School: Penn State

    Course: Intermediate Microeconomic Analysis

  • 2 Pages Lecture Notes #2
    Lecture Notes #2

    School: Penn State

    Course: Intermediate Microeconomic Analysis

  • 3 Pages Lecture Notes #1
    Lecture Notes #1

    School: Penn State

    Course: Intermediate Microeconomic Analysis

  • 11 Pages Exam 1 Version A Answer Key copy
    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
    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
    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
    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
    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
    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
    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 Homework_2_Answer_Key
    Homework_2_Answer_Key

    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
    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
    Lesson 7 _ Monetary Policy

    School: Penn State

    Course: INMD MICROEC ANLY

  • 4 Pages Homework 5
    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

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

    School: Penn State

    Course: INMD MICROEC ANLY

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

    School: Penn State

    Course: INMD MICROEC ANLY

  • 5 Pages ECON302_HW1_KEY
    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
    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 Homework_1_Answer_Key
    Homework_1_Answer_Key

    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 Homework_2_Answer_Key
    Homework_2_Answer_Key

    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 Homework_3_Answer_Key
    Homework_3_Answer_Key

    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 Homework_4_Answer_Key
    Homework_4_Answer_Key

    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
    Lesson 5_ Capital Stock, Investment Demand, Goods Market Equilibrium

    School: Penn State

    Course: INMD MICROEC ANLY

  • 5 Pages Lesson4_ Consumption-Saving, Lending-Borrowing
    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
    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
    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
    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

  • 5 Pages Homework #2 Answer Key
    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
    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
    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
    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
    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
    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
    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
    Lesson 8_ Portfolio Allocation And Demand For Money

    School: Penn State

    Course: INMD MICROEC ANLY

  • 2 Pages Test 1 q1
    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 Homework_5_Answer_Key
    Homework_5_Answer_Key

    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
    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
    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
    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
    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
    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
    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
    Econ302- 8429533-1

    School: Penn State

  • 5 Pages Econ302Homework_2
    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
    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
    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
    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
    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)
    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
    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
    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
    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
    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
    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
    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
    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
    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
    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
    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
    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

  • 1 Page 302hw3
    302hw3

    School: Penn State

  • 1 Page 302q2
    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
    Drawing2

    School: Penn State

    Course: INMD MICROEC ANLY

  • 1 Page drawing3
    Drawing3

    School: Penn State

    Course: INMD MICROEC ANLY

  • 1 Page Econ 302 Notes
    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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