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

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

View Full Document Right Arrow Icon
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.
Image of page 1

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

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    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.

    Student Picture

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

  • Left Quote Icon

    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.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    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.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern