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##### ECON 101 - Principles Of Microeconomics - Wisconsin Study Resources
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###### Ps7

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 7 Due By October 31, 2005 (in class) Public Goods and Externalities: Multiple Choice. 1) An example of a good that is both rival and excludable is a) b) c) d) 2) a) b) c) d) the defense

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###### Review_final

School: Wisconsin

Exam Name_ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Suppose that the probability that a used bike is a lemon (low quality) is p . If a buyer is willing to pay \$H for a plum (high-quality) bi

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• ###### http___courses.aplia.com_af_servlet_cmserver_Midterm_2_Version_1.pdf_ctx=rserrano-0001&cms_actio
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###### Http___courses.aplia.com_af_servlet_cmserver_Midterm_2_Version_1.pdf_ctx=rserrano-0001&cms_actio

School: Wisconsin

Course: Principles Of Microeconomics

Econ101 Exam 2 Version 1 Economics 101 Midterm 2 Use the following graph to answer the next two questions. Professor Serrano-Pardial November 14, 2007 P S Unit Tax = 14 S Pd=28 P*=20 D Q* Q 1. In the market depicted by the graph, an excise tax of

• 4 Pages
###### Econ 101 Study Guide

School: Wisconsin

Course: Principles Of Microeconomics

After 2nd Midterm Notes Duality- There are 2 ways to think about the firms problem: 1. Picking the optimal quantity a. Firm determines technology- determines the production function: F(K,L) b. Firm minimizes cost i. Minimize (wL+rK) subject to Q=F(K,

• 17 Pages
###### Final Sample 2

School: Wisconsin

Course: Principles Of Microeconomics

Final Exam Version 1; Page 1 Economics 101 Final Exam Professor Hertel 5/17/2007 Student Name: _ID# _ Discussion # _ DO NOT BEGIN WORKING UNTIL YOU ARE TOLD TO DO SO. READ THESE INSTRUCTIONS FIRST. You have 120 minutes to complete the exam, which

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• ###### Midterm 2 Mock Exam Chad
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###### Midterm 2 Mock Exam Chad

School: Wisconsin

Course: Microeconomics

BLC Microeconomics Mock Midterm 2 Use the following information to answer the next TWO (2) questions. Susan visits the state fair and rides the Ferris wheel several times. The following table shows her marginal and total utility from a given number of rid

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###### PQUIZ6

School: Wisconsin

Course: Microeconomics

Econ 101: Principles of Microeconomics Korinna K. Hansen NAME: Disc. Section: Practice Quiz 6 (6 points) Marys cake company faces the following cost schedule: Q TFC TVC TC AFC AVC ATC MC 0 50 0 50 - - - - 1 20 2 50 3 50 4 5 50 70 100 30 90 30 190 50 12.5

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• ###### Monday November 14 notes
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###### Monday November 14 Notes

School: Wisconsin

Course: MICROECONOMICS

Monopoly: an industry that produces a good of service for which no good substitutes exist and in which there is one supplier that is protected from entry by a barrier preventing the entry of new firms. (has market power) -In order to exist a monopolist ne

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###### 5- CHapter 3+4

School: Wisconsin

Course: Microeconomics

Circular Flow of Economic Activity Firms and Households Interact in Two Markets o Output markets Goods we go out and get- goods and services Firms supply and households demand o Input markets Factors of production- Labor, land, capital, entrepreneurs

• 4 Pages
###### Handout#6

School: Wisconsin

Course: Microeconomics

ECON101 Discussion Section Handout #6 (Budget Line) Budget line represents consumption bundles that can be purchased under the market price with a consumers income. 1. You are asked to construct budget line of Paul. Using the information he provided, draw

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###### Midterm 2 Mock Exam Hillary

School: Wisconsin

Course: Microeconomics

M ock exam for M idterm 2 Econ 101 1. Suppose a firm has a constant Marginal Cost. If the firm produces 3 units of output, the Total Cost will = \$300. s Fixed Cost. A) \$0 B) \$20 C) \$100 D) \$240 E) Impossible to say 2 apple. apples (A) and bananas (B) is A

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###### Midterm2 2007

School: Wisconsin

Course: Microeconomics

Econ101 Exam 2 Version 1 Economics 101 Midterm 2 Professor Serrano-Pardial November 14, 2007 Use the following graph to answer the next two questions. P S Unit Tax = 14 S Pd=28 P*=20 D Q* Q 1. In the market depicted by the graph, an excise tax of \$14 has

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• ###### Midterm2 2007 Answer Key
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School: Wisconsin

Course: Microeconomics

Econ101 Exam 2 Version 1 Economics 101 Midterm 2 Professor Serrano-Pardial November 14, 2007 Student Name: _ ID#: _ Discussion #: _ DO NOT BEGIN WORKING UNTIL YOU ARE TOLD TO DO SO. READ THESE INSTRUCTIONS FIRST! The exam consists of 33 multiple-choice qu

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###### Midterm2 2008

School: Wisconsin

Course: Microeconomics

2 P 300 , and the domestic supply is QS P . Q1. The domestic demand for bananas is Q D If the world price is \$30 and the government imposes a tariff of \$50, what would be the import quota equivalent to the \$50 tariff? a) 50 b) 20 c) 60 d) 80 e) 100 Q2. Th

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• ###### Midterm2 2008 Answer Key
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School: Wisconsin

Course: Microeconomics

2 P 300 , and the domestic supply is QS P . Q1. The domestic demand for bananas is Q D If the world price is \$30 and the government imposes a tariff of \$50, what would be the import quota equivalent to the \$50 tariff? a) 50 b) 20 c) 60 d) 80 e) 100 Q2. Th

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###### Midterm2 2010

School: Wisconsin

Course: Microeconomics

Version # Economics 101 Professor Serrano-Padial nd 2 Midterm, Version#1 Apr. 13, 2010 DO NOT START WORKING UNTIL YOU ARE TOLD SO READ THESE INSTRUCTIONS FIRST Name_ ID _ Section# _ You have 70 minutes to complete the exam, which consists of 33 multiple-c

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• ###### Midterm2 2010 Answer Key
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School: Wisconsin

Course: Microeconomics

Version #1 Economics 101 Professor Serrano-Padial nd 2 Midterm, Version#1 Apr. 13, 2010 DO NOT START WORKING UNTIL YOU ARE TOLD SO READ THESE INSTRUCTIONS FIRST Name_ ID _ Section# _ You have 70 minutes to complete the exam, which consists of 33 multiple-

• 3 Pages

School: Wisconsin

Course: Microeconomics

BLC Microeconomics Final Exam Review Use the following information to answer the next three questions. Countries A and B only produce 2 goods, sweatshirts and jackets. The following table shows how many units can be produced in each country per week at tw

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###### Handout#6(sol)

School: Wisconsin

Course: Microeconomics

(Econ 101 Discussion Section) Suggested Solution to Handout #6 1. You are asked to construct budget line of Paul. Using the information he provided, draw his budget line on separate graphs. Be sure to label each axis first to avoid unintended confusions.

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###### Handout #7

School: Wisconsin

Course: Microeconomics

Econ 101 Handout #7 Introduction of Substitution and Income Effect Every price change can be decomposed into an income effect and a substitution effect; the price effect is the sum of substitution and income effects. The substitution effect is a price cha

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###### Handout 7 With Solution

School: Wisconsin

Course: Microeconomics

Econ 101 Handout #7 Introduction of Substitution and Income Effect Every price change can be decomposed into an income effect and a substitution effect; the price effect is the sum of substitution and income effects. The substitution effect is a price cha

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###### October 12 Notes

School: Wisconsin

Course: MICROECONOMICS

Most indifference curves are convex toward the origin (bowed IN)- Why? -When an individual has lots of the y good, but not very much of the x good, they are willing to give up lots of the y good to obtain a little of the x good i.e. the MRS is high the in

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###### Notes

School: Wisconsin

Course: MICROECONOMICS

AfricanStorytelling Friday,October21,2011 1. THINGSFALLAPART OkonkwoconfuseshisviewofanidealsocietywithtrueIbosociety Suppressespartsofhimselfwhichheseesasfeminine Cantfacerealityofhischangingculturewhenhereturns Earlyon,thoughtheinfluencedhisculturebutdi

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###### LG6

School: Wisconsin

Course: Microeconomics

University of Wisconsin Department of Economics Economics 101: Principles of Microeconomics Korinna K. Hansen Learning Guide 6 Due Date: Week of Monday, October 25, 2010 Reading Assignment: Case & Fair Chapter 8 (not the appendix) & relevant lecture mater

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###### Handout 5

School: Wisconsin

Course: Microeconomics

Econ 101Discussion Section, handout #5 International Trade Problem 1 Consider the book market. Domestic demand for books in a small country is given by the equation P= -3Qd+ 100. Domestic supply is given by the equation P=Qs. The world price of books is \$

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School: Wisconsin

Course: Microeconomics

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###### Handout2

School: Wisconsin

Course: Microeconomics

Econ 101 Discussion SectionHandout #2 PPF, Opportunity Cost, Absolute Advantage and Comparative Advantage Problem 1 Now Steven has to decide what to do in the following hour. Three choices are available, attending the discussion section for Econ 101, watc

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###### Handout4

School: Wisconsin

Course: Microeconomics

Economics 101: Introductory Microeconomics Fall 2010 Handout #4 Price Control A price ceiling is a maximum legal price which sellers can charge for a product. A price floor is a minimum legal price which buyers must pay for a product. Note that price cont

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###### Handout3_econ101fall2010

School: Wisconsin

Course: Microeconomics

Econ 101 Discussion SectionHandout #3 ANSWERS Problem 1 Supply and Demand, Basics The following table describes the demand schedule for butter: Price (\$) .2 5 .4 5/2 .6 5/3 .8 5/4 1 a. Quantity (pounds) 1 Plot the demand curve for butter. b. Bread and but

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###### Handout 1

School: Wisconsin

Course: Microeconomics

Econ 101 Discussion SectionHandout #1 Math Review Problem 1 Line A and Line B are both straight lines. The points (0, 10) and (10, 20) lie on Line a. The points (5, 20) and (15, 5) lie on Line B. b. Draw Line A and Line B on a graph. c. Find the slope for

• 13 Pages
###### Mt1spring2009v1

School: Wisconsin

Course: Microeconomics

Version #1 Econ 101-Spring 2009 Midterm exam 1 Version #1 Student Name: _ ID# _ Discussion # _ You have 75 minutes to answer the exam. The exam contains 12 binary choice questions worth 2 points each and 25 multiple choice questions worth 3 points each. Y

• 12 Pages
###### Misterm2summer2010

School: Wisconsin

Course: Microeconomics

Econ 101 Summer 2010 Exam 2 Professor Kelly Name: _ Section Day and Time: _ There are 2 short answer questions and 20 multiple choice questions. Question 1 20 points Your Score: _ Question 2 20 points Your Score: _ Multiple Choice 60 points Your Score: To

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School: Wisconsin

Course: Microeconomics

Perfect Competition Questions Question 1 Suppose there is a perfectly competitive industry where all the firms are identical with identical cost curves. Furthermore, suppose that a representative firms total cost is given by the equation TC = 100 + q2 + q

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• ###### summer2010perfectcompetitionquestions
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###### Summer2010perfectcompetitionquestions

School: Wisconsin

Course: Microeconomics

Economics 101 Summer 2010 Practice Questions on Perfect Competition Question 1 Suppose there is a perfectly competitive industry where all the firms are identical with identical cost curves. Furthermore, suppose that a representative firms total cost is g

• 5 Pages
###### Econ 101 Handout #9

School: Wisconsin

Course: Microeconomics

Econ 101 Handout #9 Fixed inputan input whose quantity is fixed for a period of time and cannot be varied, for instance, land. Variable inputan input whose quantity the firm can vary at any time. For instance, labor. In the LONG RUNthat is, given that a l

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###### Mock Final Hillary

School: Wisconsin

Course: Microeconomics

Econ101withProfessorsSerrano&Gandhi:May5,2011 BLCFinalExamReview NEWSTUFF Figure1:PerfectlyCompetitiveFirm 1.InFigure1,ifthemarketpriceisP3thentheproducerwill a)ProducequantityQ1intheshortrunandexitinthelongrun b)ProducequantityQ2intheshortrunandexitinthe

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###### Midterm Instructions

School: Wisconsin

Course: Microeconomics

Economics 101 Fall 2010 10/05/10 First Midterm Name _ TA Name _ Discussion Section #_ Student ID # _ Version 1 DO NOT BEGIN WORKING UNTIL THE INSTRUC TOR TELLS YOU TO DO SO READ THESE INSTRUCTIONS FIRST. You have 75 minutes to complete the exam. The exam

• 6 Pages
###### Homework4fall2010

School: Wisconsin

Course: Microeconomics

Economics 101 Fall 2010 Homework #4 Due: 11/04/2010 in lecture Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it

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###### Firstmidtermfall2010afternoonlecture

School: Wisconsin

Course: Microeconomics

Economics 101 _ Fall 2010 _ 10/5/10 #_ First Midterm _ Name TA Name Discussion Section Student ID # Version 1 DO NOT BEGIN WORKING UNTIL THE INSTRUCTOR TELLS YOU TO DO SO READ THESE INSTRUCTIONS FIRST. You have 75 minutes to complete the exam. The exam co

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• ###### midterm2_review_questions
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###### Midterm2_review_questions

School: Wisconsin

Course: Microeconomics

Econ 101 - Review Questions for Midterm 2 Professor Korinna K. Hansen 1) In a world of two goods X and Y with prices PX and PY, an increase in both prices PX and PY will cause an _ in consumers budget line. a) inward shift b) outward shift c) ambiguous (i

• 12 Pages
###### EconExam2Review

School: Wisconsin

Course: Microeconomics

ECONEXAM2REVIEW:Chapters912 Chapter9MakingDecisions ExplicitCosts Coststhatinvolveadirectpaymentofcash Costspaidout Example:ingredientsforabakery,rentonabuildingetc ImplicitCosts Coststhatinvolvenooutlayofmoneybutrepresenttheinflowsofcashthatare forgone F

• 3 Pages
###### Review Sheet ECON 1

School: Wisconsin

Course: Microeconomics

Review Sheet for the Second Midterm of Economics 101 Jing Tao The following is a list of topics that you should cover for the second midterm. This list should serve as a checklist for you to see whether you have studied everything you need to. In order to

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• ###### Kelly HW 1 - Math Review, Opp Cost, and Trade
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###### Kelly HW 1 - Math Review, Opp Cost, And Trade

School: Wisconsin

Course: Microeconomics

Economics 101 Fall 2010 Homework #1 Due 9/21/2010 at the beginning of lecture Directions: The homework will be collected in a box before the lecture. Place your name, TA name and section number on top of the homework (legibly). Late homework will not be a

• 6 Pages
###### Syllabusfall2010

School: Wisconsin

Course: Microeconomics

ECONOMICS 101 INTRODUCTORY MICROECONOMICS FALL 2010 Instructor: Elizabeth Sawyer Kelly Office: 7416 Social Science Office Phone: 608-262-8829 Office Hours: Before class and after class, and by appointment E-mail: eskelly@wisc.edu Webpage: www.ssc.wisc.edu

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• ###### New Microsoft Word æ��æ¡£
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###### New Microsoft Word æ��æ¡£

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2012 2012 DJ

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###### List1-2

School: Wisconsin

Abandon vt./n.(abandoned, abandonment) Abbreviate vt.(abbreviation, abbreviated) Abnormal a. Abolition n.(abolitionist) Abort n. Abound vi.(abundance) Abrasion n.(abrasive) Abreast ad. Abrupt a. Absence n. Absolutely ad. Absorb vt.(absorbent, absorbed) Ab

• 8 Pages
###### List3-4

School: Wisconsin

Assume vt.(assumption, presume, consume, resume) Assure vt.(ensure, insure, secure) Asteroid n. Astronomy n.(astronomical, astronomer) Asymmetrical a.(symmetrical) Athlete n.(athletic, nonathletic) Atmosphere n.(atmospheric) Atomic a. Attach vt.(attached,

• 8 Pages
###### List5-6

School: Wisconsin

Cascara n. Cassette n. Cast n./vt. Catalog n. Catalyst n. Catastrophe n.(apostrophe) Category n.(categorize) Caterpillar n. Cautious a.(precaution) Cavity n.(cranial cavity) Cease v./n. Celebrate vt. Celebrated a.(celebrity) Celestial a. Cell n. Census n.

• 8 Pages
###### List7-8

School: Wisconsin

Confine vt. Confirm vt. Conflict n./vi. Conform vi. Confront vt. Congenial a. Congestion n. Congress n. Conscious a. Consciously ad. Consent vi./n. Consequence n. Consequently ad. Conservation n. Conserve vt. Considerable a. Considerate a. Consistent a. C

• 9 Pages
###### List9-10

School: Wisconsin

Delicious a. Delight n./v. Deliver v. Delta n. Demanding a. Democrat n. Democratic a. Demolish vt. Demonstrate vt. Denote vt. Dense a. Dentist n. Deny vt. Depart vi. Depend vi. Depict vt. Deplete vt. Deposit vt./n. Depression n. Deprive vt. Derive vi. Des

• 8 Pages
###### List11-12

School: Wisconsin

Elusive a. Embarrass v. Embellish vt. Emblem n. Embody vt. Embrace vt. Embryo n. Emerald n. Emerge vi. Eminent a. Emission n. Emit vt. Emotion n. Emotional a. Emphasize vt. Enactment n. Encase vt. Enclose vt. Encompass vt. Encounter n./vt. Encourage vt. E

• 9 Pages
###### List13-14

School: Wisconsin

Fidelity n. File n./vt. Filter n./vt. Fin n. Finance vt./n. Finch n. Firm n./a. Fitness n. Flag n. Flagellum n. Flake n./vt. Flame n. Flap n./v. Flask n. Flat a./n. Flavoring n. Flexible a. Flint n. Float v. Flock n./vi. Flora n. Flourish vi. Fluctuate vi

• 9 Pages
###### HW3 With Solutions

School: Wisconsin

Course: Microeconomics

Economics 101 Fall 2010 Homework #3 Due 10/26/10 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on yo

• 6 Pages
###### Homework3summer2010

School: Wisconsin

Course: Microeconomics

Economics 101 Summer 2010 Homework #3 Due Thursday, June 24, 2010 This homework is due at the beginning of the class lecture. Make sure that your homework includes your name, section number, and is stapled. There will be no stapler at the class lecture. S

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School: Wisconsin

Course: Microeconomics

Economics 101 11/18/2009 Second Midterm Student Name : Section # : TA Name : Version 1 DO NOT BEGIN WORKING UNTIL THE INSTRUCTOR TELLS YOU TO DO SO. READ THESE INSTRUCTIONS FIRST. You have 75 minutes to complete the exam. The exam consists of 13 binary ch

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• ###### midterm2fall2008morningAK
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###### Midterm2fall2008morningAK

School: Wisconsin

Course: Microeconomics

Economics 101 11/18/2008 Second Midterm Student Name : Section # : TA Name : Version # X DO NOT BEGIN WORKING UNTIL THE INSTRUCTOR TELLS YOU TO DO SO. READ THESE INSTRUCTIONS FIRST. You have 75 minutes to complete the exam. The exam consists of 12 binary

• 11 Pages
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School: Wisconsin

Course: Microeconomics

Econ 101 Summer 2010 Exam 2 Professor Kelly Name: _ Section Day and Time: _ There are 2 short answer questions and 20 multiple choice questions. Question 1 20 points Your Score: _ Question 2 20 points Your Score: _ Multiple Choice 60 points Your Score: To

• 9 Pages
###### Firstmidtermsummer2010

School: Wisconsin

Course: Microeconomics

Econ 101 Summer 2010 Exam 1 Professor Kelly Name: _ Section Day and Time: _ There are 5 questions. Question 1 20 points Your Score: _ Question 2 20 points Your Score: _ Question 3 20 points Your Score: _ Question 4 15 points Your Score: _ Question 5 25 po

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School: Wisconsin

Course: Microeconomics

Econ 101 Summer 2010 Exam 1 Professor Kelly Name: _ Section Day and Time: _ There are 5 questions. Question 1 20 points Your Score: _ Question 2 20 points Your Score: _ Question 3 20 points Your Score: _ Question 4 15 points Your Score: _ Question 5 25 po

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• ###### econ-firstmidtermfall2010
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###### Econ-firstmidtermfall2010

School: Wisconsin

Course: Microeconomics

Economics 101 Fall 2010 10/05/10 First Midterm Name _ TA Name _ Discussion Section #_ Student ID # _ Version 1 DO NOT BEGIN WORKING UNTIL THE INSTRUC TOR TELLS YOU TO DO SO READ THESE INSTRUCTIONS FIRST. You have 75 minutes to complete the exam. The exam

• 70 Pages
• ###### 2- Solutions to Book Problems
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###### 2- Solutions To Book Problems

School: Wisconsin

Course: Microeconomics

• 4 Pages
###### Homework3fall2010

School: Wisconsin

Course: Microeconomics

Economics 101 Fall 2010 Homework #3 Due 10/26/10 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on yo

• 13 Pages
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School: Wisconsin

Course: Microeconomics

Economics 101 Fall 2010 Answers to Homework #2 Due 09/30/2010 in lecture Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your

• 4 Pages
###### Homework2fall2010

School: Wisconsin

Course: Microeconomics

Economics 101 Fall 2010 Homework #2 Due 09/30/2010 in lecture Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it

• 11 Pages
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School: Wisconsin

Course: Microeconomics

Economics 101 Answers to Homework #4 Fall 2009 Due 11/11/2009 before lecture Directions: The homework will be collected in a box before the lecture. Place your name, TA name and section number on top of the homework (legibly). Late homework will not be a

• 5 Pages
###### Homework4fall2009

School: Wisconsin

Course: Microeconomics

Economics 101 Homework #4 Fall 2009 Due 11/11/2009 before lecture Directions: The homework will be collected in a box before the lecture. Place your name, TA name and section number on top of the homework (legibly). Late homework will not be accepted. It

• 11 Pages
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School: Wisconsin

Course: Microeconomics

Economics 101 Summer 2010 Answers to Homework #3 Due Thursday, June 24, 2010 This homework is due at the beginning of the class lecture. Make sure that your homework includes your name, section number, and is stapled. There will be no stapler at the class

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School: Wisconsin

Course: Microeconomics

Economics 101 Summer 2010 Answers to Homework #4 Due Thursday, July 1, 2010 This homework is due at the beginning of the class lecture. Make sure that your homework includes your name, section number, and is stapled. There will be no stapler at the class

• 6 Pages
###### Homework4summer2010

School: Wisconsin

Course: Microeconomics

Economics 101 Summer 2010 Homework #4 Due Thursday, July 1, 2010 This homework is due at the beginning of the class lecture. Make sure that your homework includes your name, section number, and is stapled. There will be no stapler at the class lecture. Su

• 8 Pages
###### List15-16

School: Wisconsin

Hardware n. Hardy a. Harmony n. Harness n./vt. Harsh a. Haste n. Hatch v. Haul v. Haunt vt./n. Haven n. Hawk n. Hay n. Hazard n. Heading n. Healing a. Heed n. Hemisphere n. Henceforth ad. Herald n./vt. Herb n. Herd n. Heritage n. Hibernation n. Hide v./n.

• 1 Page
###### Learning Guide 3

School: Wisconsin

Course: MICROECONOMICS

• 3 Pages
###### Ps2an

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 2 Answer Key Gains from Trade and the Production Possibilities Frontier 1. Wheat Australia Wheat a) 600 New Zealand 200 600 Cotton 200 Cotton b) New Zealand has a comparative advantage

• 2 Pages
###### Ps3

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 3 Due by September 26, 2005 (in class) Consumer Choice 1. The Budget Constraint. Suppose Lewis lives in a world with only two goods, beer and cheese. Lewis income each month is \$500. Be

• 4 Pages
###### Ps3an

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 3: Answer Key 1. Recall that Lewis income each month is \$500. Beer costs \$2 a bottle, and cheese costs \$5 per pound. a) If Lewis spent all of his income each month on beer, he could con

• 2 Pages
###### Ps4

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang NOT TO BE TURNED IN Problem Set 4 Finish before the October 3rd Midterm. This problem set has been provided to help you prepare for Midterm 1. Answers are already posted. This problem set will be n

• 5 Pages
###### Ps4an

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 4 Answer Key 1. Recall that annual demand for widgets is given by the equation QD=40-4P while the supply curve is given by QS=2P-2. a) Quantity demanded will be 0 when Price = \$10. To s

• 1 Page
###### Ps5

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 5 Due By October 10, 2005 (in class) Elasticity of Demand and Marginal Revenue 1) a. Consider the demand curve for widgets, QD=100 5P. Find the price and quantity at which the price ela

• 3 Pages
###### Ps5ans

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 5 - Answer Key 1) Recall the demand curve for widgets, QD=100 5P. a. There are two ways to find the price and quantity at which the price elasticity of demand is equal to -1 (unit elast

• 2 Pages
###### Ps6

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 6 Due By October 24, 2005 (in class) The Impact of a Price Ceiling 1) Demand for leaf blowers in Madison is given by the equation QD=90-P, while supply is given by QS=2P. a. b. c. What

• 4 Pages
###### Ps6an

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 6 ANSWER KEY The Impact of a Price Ceiling 1) Recall that the demand for leaf blowers in Madison is given by the equation Q =90-P, while supply is given by Q =2P. D S a. In equilibrium

• 3 Pages
###### Ps7ans

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 7 ANSWER KEY Public Goods and Externalities: 1) An example of a good that is both rival and excludable is (b), a pair of pants. Excludable means that access can be denied (i.e. a theme

• 1 Page
###### Ps8

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 8 Due By November 14, 2005 (in class) Perfect Competition (Chapter 14) 1) A local microbrewery has total costs of production given by the equation TC=50+10Q+5Q2. This implies that the f

• 3 Pages
###### Ps8ans

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 8 ANSWER KEY Perfect Competition (Chapter 14) 1) A local microbrewery has total costs of production given by the equation TC=50+10Q+5Q2. This implies that the firm's marginal cost is gi

• 1 Page
###### Ps9

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 9 Due By Nov 21, 2005 Perfect Competition (Chapter 14): Short Run and Long Run 1) It may help to use Chapter 14 from the text to aid in answering the following questions. a. Show a pair

• 6 Pages
###### Ps9ans

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 9 ANSWER KEY Perfect Competition (Chapter 14): Short Run and Long Run 1) Begin by looking at the long run equilibrium (LRE). Notice that it must be true in LRE that profit = 0. This mea

• 3 Pages
###### Ps10

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 10 (due Dec. 5 in class) Price Discrimination (cont'd) 1. Suppose an airline flies the route of Boston to Hawaii at no cost and the airline faces two types of passengers: business and l

• 2 Pages
###### Ps2

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 2 Due by September 19, 2005 (in class) Gains from Trade and the Production Possibilities Frontier 1. Suppose Australia and New Zealand each have 100 acres of land available for farming

• 5 Pages
###### Ps1an

School: Wisconsin

Course: Microeconomics

UNIVERSITY OF WISCONSIN Economics 101 Fall 2005 Wei Zhang Problem Set 1 Answer Key 1. a) y =10-2x is represented by the solid line above. b) The slope of y =10-2x is the coefficient on x: -2. The vertical intercept is 10. If x were on the vertical axis th

• 1 Page
###### Learning Guide 1

School: Wisconsin

Course: MICROECONOMICS

• 1 Page
###### Practice Quiz 3

School: Wisconsin

Course: MICROECONOMICS

• 1 Page
###### Practice Quiz 2

School: Wisconsin

Course: MICROECONOMICS

• 1 Page
###### Practice Quiz 1

School: Wisconsin

Course: MICROECONOMICS

• 1 Page
###### Quiz 9

School: Wisconsin

Course: MICROECONOMICS

• 1 Page
###### Quiz 4

School: Wisconsin

Course: MICROECONOMICS

• 1 Page
###### Quiz 3

School: Wisconsin

Course: MICROECONOMICS

• 1 Page
###### Quiz 2

School: Wisconsin

Course: MICROECONOMICS

• 1 Page
###### Practice Quiz 4

School: Wisconsin

Course: MICROECONOMICS

• 8 Pages
###### 1_U.S. Antitrust

School: Wisconsin

Course: Microeconomics

Amalgamated America - Trust in Markets: Antitrust Enforcers Drop the Ideology, Focus on Economics - From Sherman to Pitofsky, Attitudes About Bigness Have Come a Long Way - The View From 30,000 Feet By Roger Lowenstein. Wall Street Journal (Eastern Editio

• 3 Pages
###### 2_European Antitrust

School: Wisconsin

Course: Microeconomics

Trustbusting's Top Cop:The EU's Mario Monti is picking up the mantle now that Washington favors antitrust minimalism Mike France in New York, with William Echikson in Brussels and Dan Carney in Washington. Business Week New York:April 30, 2001. Iss. 3730,

• 7 Pages
###### Discrimonop

School: Wisconsin

Course: Microeconomics

Monopoly Price Discrimination 1st degree (perfect price discrimination): charge each consumer the WTP 2nd degree: use self-selecting devices (personal arbitrage and screening) 3rd degree: use signals (e.g. age, occupation, location ) of consumers preferen

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