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Homework 6 Key

# Homework 6 Key - 1 = 2 2 = w 1 and 2 x 1 = 2 1 x& 1 = 2...

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Economics 102A: Microeconomic Theory Winter 2008 Section 030 Homework Assignment 6 Key: 1. 19.1 (a) They all have slope 2. None. (b) 8, 24, 24, See graph. (c) Yes, As the diagram shows, the °rm can reach a higher isopro°t line by increasing output. 2. 19.5 (a) Period y x w p 1 1 1 1 1 2 2.5 3 .5 1 3 4 8 .25 1 ° = py ° wx (b) y = x; y = 1 + : 5 x; y = 2 + : 25 x , The region that is below all 3 isopro°t lines, see graph 3. 19.11 (a) 2 x ° 1 = 2

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Unformatted text preview: 1 = 2 2 = w 1 and 2 x 1 = 2 1 x & 1 = 2 2 = w 2 (b) No 4. 20.1 (a) Graph. (b) Constant (c) y (d) y 2 (e) x 1 = 0 ; x 2 = 10 (f) x 1 = 20 ; x 2 = 0 (g) c = min f 20 w 1 ; 10 w 2 g = 10 min f 2 w 1 ; w 2 g (h) c ( w 1 ; w 2 ; y ) = min f w 1 ; w 2 = 2 g y 5. 20.3 1 (a) & 4 (b) 4 (c) 5 units, 20, 400 (d) y= 8 and y= 2 , 10 y 2...
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