Homework 4 Key

Homework 4 Key - (c) 36 (d) 192 3. 6.9 (a) Housing, C, D,...

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Economics 102A: Microeconomic Theory Winter 2008 Section 030 Homework Assignment 4: beginning of class on "Super" Tuesday, February 5th (the next homework will not be due until February 19th). Homework will be turned in at the entrance to the lecture hall as you enter class. Please put your TAs last name and your review section number on the front page of your homework. 1. 6.1 (a) X B X A ; p A p B ; p A p B = X B X A (b) x A ( p A ; p B ; m ) = m 2 p A ; x B ( p A ; p B ; m ) = m 2 p B (c) 1 2 2. 6.7 (a) 308,48 (b) 100 extra silver bells, Not at all
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Unformatted text preview: (c) 36 (d) 192 3. 6.9 (a) Housing, C, D, E: 29,28,30 Clothing, C, D, E: 9.8,11,12 Transportation, C, D, E: 16,17,14 (b) All of them (c) Food away from home, clothing, transportation (d) Food prepared at home, housing (e) The curve for a luxury gets atter as income rises, the curve for a necessity gets steeper 4. 14.1 (a) 50 (b) 3750 (c) 2500 1 (d) 1250 5. 14.7 (a) p = 1 & x (b) m & p (1 & p ) (c) u = m + (1 & p ) 2 2 (d) (1/2,11/4),(0,3) (e) 1/8, equivalent (f) 1/8, compensating, same (g) 1/8 2...
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This homework help was uploaded on 04/19/2008 for the course ECON 102A taught by Professor Sorensen during the Winter '08 term at UC Riverside.

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Homework 4 Key - (c) 36 (d) 192 3. 6.9 (a) Housing, C, D,...

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