ps10s08 - UNIVERSITY OF WISCONSIN Economics 101 Spring 2008...

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UNIVERSITY OF WISCONSIN Economics 101 – Spring 2008 Problem Set 10 Due on Monday May 5 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 16, page 380 (DO ONLY PARTS a) and b)). 2. Assume the In-n-Out restaurant has marginal cost, MC=5. Assume it has no fixed cost, so its total cost is 5q. Assume that the firm faces two types of consumers. The first group of consumers, Trojan University graduates, has demand Q=150-3P/2. The second type of consumers, Westwood University graduates, has demand Q=50-P/2. a) Suppose that firm can not differentiate the two groups of consumers, and it charges a single
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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 Wisconsin.

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ps10s08 - UNIVERSITY OF WISCONSIN Economics 101 Spring 2008...

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