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UC Riverside - ECON econ102a
  • 1 Page Econ_102A_PS3
    Econ_102A_PS3

    School: UC Riverside

    Course: Econ 102a

    Econ 102A Problem Set 3 1.) Show graphically why a lump sum (income) tax is superior to a per unit (sales) tax. 2.) Using the same logic as in 1.) show graphically why a lump sum subsidy is superior to a per unit subsidy. 3.) a.) If the demand curve for a

  • 2 Pages Econ_102A_PS3_Answer
    Econ_102A_PS3_Answer

    School: UC Riverside

    Course: Econ 102a

    Problem Set 3 Solutions #1) Clearly, the lump sum scheme puts the consumer on a higher indifference curve than the per unit tax. #2) Clearly, the lump sum scheme puts the consumer on a higher indifference curve than the per unit subsidy. 3) a) Q=1/P e=-1/

  • 4 Pages Econ_102A_PS4_Answer
    Econ_102A_PS4_Answer

    School: UC Riverside

    Course: Econ 102a

    Problem Set 4 Solutions Econ 102A #1.) Consider a consumer making wage w endowed with T units of time. The consumer can divide his time between working (labor) and playing (leisure). a) Under the assumption that the consumer will spend all of his income o

  • 2 Pages Econ_102A_PS5_Answer
    Econ_102A_PS5_Answer

    School: UC Riverside

    Course: Econ 102a

    Econ 102A Problem Set 5 Consider a firm operating in the short run in a perfectly competitive market using a production technology given by F(K,L)=KL . Suppose that the firm is utilizing 100 units of capital input in the short run but the firm can hire an

  • 2 Pages Econ_102A_PS6
    Econ_102A_PS6

    School: UC Riverside

    Course: Econ 102a

    Econ 102A Problem Set 6 1. Suppose that the market demand curve is given by Q=100-P. Also, the firms technology is given by Q=f(K,L)=KL . The rental rate on capital is $10/unit and the wage is $25. The firm utilizes 5 units of capital in the short run. Th

  • 2 Pages Econ_102A_PS6_Answer
    Econ_102A_PS6_Answer

    School: UC Riverside

    Course: Econ 102a

    Problem Set 6 1. Suppose that the market demand curve is given by Q=100-P. Also, the firms technology is given by Q=f(K,L)=KL . The rental rate on capital is $10/unit and the wage is $25. The firm utilizes 5 units of capital in the short run. The market s

  • 1 Page Econ_201A_PS5
    Econ_201A_PS5

    School: UC Riverside

    Course: Econ 102a

    Econ 102A Problem Set 5 Consider a firm operating in the short run in a perfectly competitive market using a production technology given by F(K,L)=KL . Suppose that the firm is utilizing 100 units of capital input in the short run but the firm can hire an

  • 17 Pages Final Review 1
    Final Review 1

    School: UC Riverside

    Course: Econ 102a

    Review Session I Explanations, Homeworks and Examples. The firm uses a technology to combine capital K and labor L : f K , L . As the firm is rational, it would produce as much as it can : Q f K , L . The technology is featured by certain returns to scale

  • 11 Pages Final Review 2
    Final Review 2

    School: UC Riverside

    Course: Econ 102a

    Production Function, Perfect Competition, Monopoly and Price Discrimination Examples and Graphs Let' s do an example : K 100, r 0.8, w 10,000, Q f K , L K L , 1 Find the Long Run Returns to Scale : f K , L K L f K , L K L 3 2 3 2 1 2 1 2 3 2 1 2 f K , L

  • 6 Pages Homework1 presentation
    Homework1 Presentation

    School: UC Riverside

    Course: Econ 102a

    HOMEWORK 1 GRAPHS AND EXPLANATIONS The Budget Constraint is : M Px x Py y M Px x Py y M Px x Py y The Budget Set is : B x, y M Px x Py y Y M Py A B C M Px x y Py Py P Slope x . Py M y Then Vertical Intercept Py M Horizontal Intercept x Px M 2 Py Slope

  • 5 Pages Homework 2 Anwers choic
    Homework 2 Anwers Choic

    School: UC Riverside

    Course: Econ 102a

    Homework 2 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. _ 1. A util represents a unit of measurement for the: a. dollars a consumer spends on a good. b. profit a firm makes from producing a g

  • 23 Pages Homework 2 for discussion section
    Homework 2 For Discussion Section

    School: UC Riverside

    Course: Econ 102a

    HOMEWORK 2 ANSWERS AND EXPLANATIONS A util represents a unit of measurement for the: dollars a consumer spends on a good. No, that is measure with total expenditure profit a firm makes from producing a good. No, that is not relevant to the consumer way a

  • 8 Pages homework 4 presentation
    Homework 4 Presentation

    School: UC Riverside

    Course: Econ 102a

    HOMEWORK 4 Graphs and Explanations T n n T pC wn wT C w T C T w w p p p Consumption w T p w p Leisure * T Leisure Work Reduction in Wages: 1. Substituion Effect: Opportunity cost of leisure goes down, more demand more leisure 2. Income effect Income

  • 2 Pages Mid-term practical question
    Mid-term Practical Question

    School: UC Riverside

    Course: Econ 102a

    Practical question for midterm 1) The utility function for a consumer is given by U(X, Y) =XY. The price of goods X and Y are $5. The consumer has $200 of income. Hint you have to use first derivative to get MRS =MUx/MUy. a) Derive the demand bundle (X*,

  • 1 Page Econ_102A_PS1
    Econ_102A_PS1

    School: UC Riverside

    Course: Econ 102a

    Summer 2009 / Econ 102A / Homework 1 / Due in Class Q1. Consider an economy with two goods X and Y with respective prices PX and PY. The consumer has M dollars of income. (a) Write down the consumers budget constraint. Write down her budget set. (b) Draw

  • 4 Pages Econ_102A_PS1_Answer
    Econ_102A_PS1_Answer

    School: UC Riverside

    Course: Econ 102a

    Econ 102A #1) a) Budget Constraint: Px*X+Py*Y=M Budget Set: cfw_ (X,Y) | Px*X+Py*YM Problem Set 1 Solutions Note that I and M are the same. e) Lets look at the budget constraint. Suppose we double all prices and income. Then the budget constraint becomes

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