ps7s08 - UNIVERSITY OF WISCONSIN Economics 101 Spring 2008...

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UNIVERSITY OF WISCONSIN Economics 101 – Spring 2008 Problem Set 7 Due on Monday April 7 at 1pm. Please be sure to include (1) your name, (2) your teaching assistant’s name, and (3) your section time on your answers. Please staple pages together. Also note that late homework will not be accepted. Remember that you can help each other but each student has to hand a hand-written solution of the problem set. F you hand back your problem set to your TA’s mailbox, it is absolutely prohibited to look at problem sets that have already been placed there. This practice will be considered a form of cheating and will be dealt with accordingly. 1. Question 11, page 255 in the book. 2. a. Question 1, page 296 in the book. b. Question 2, page 296 in the book. c. Question 3, page 296 in the book. 3. The market for hamburgers in one faraway state is characterized by perfect competition. Firms and consumers are price takers and there is free entry and exit. There are large numbers of buyers and suppliers.
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This note was uploaded on 08/08/2008 for the course ECON 101 taught by Professor Hansen during the Spring '07 term at University of Wisconsin Colleges Online.

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ps7s08 - UNIVERSITY OF WISCONSIN Economics 101 Spring 2008...

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