problem set 1

# problem set 1 - ECON 101-Fall 2007 PROBLEM SET 1 Professor...

This preview shows pages 1–2. Sign up to view the full content.

ECON 101 -Fall 2007 PROBLEM SET 1 Professor Serrano-Padial Due on Tuesday 18th at 9pm in your TA mailbox. Please remember to write down your name, the name of your TA and your discussion section. Staple pages together 1 Graph review 1. Graph the line y = 30 - 3 x . Is the relationship between x and y positive or negative? What is the slope of the line? 2. Is the above line steeper or flatter than y = 30 - 2 x ? And than y = 15 - 3 x ? 3. Graph the curve y = 40 x +1 . Does it have a negative increasing or negative decreasing slope? Is it steeper or flatter than the line y = 30 - 3 x at x = 1? And at x = 9? 4. Find the intersection between y = 30 - 3 x and y = 5 x . 2 Production Possibility Frontier (PPF) The great island of Lala produces two goods, frisbees ( F ) and bacon ( B ). If they do not produce any bacon they could produce 100 frisbees. For each pound of bacon they want to produce they need to give up at least B 2 frisbees. 1. Graph the production possibilities frontier.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern