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

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Unformatted text preview: 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....
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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.

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

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