This preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
Unformatted text preview: ECON 101 Fall 2007 PROBLEM SET 1 Professor SerranoPadial 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....
View
Full
Document
This note was uploaded on 04/14/2009 for the course ECON 101 taught by Professor Hansen during the Fall '07 term at University of Wisconsin.
 Fall '07
 Hansen
 Microeconomics

Click to edit the document details