ps2s08 - UNIVERSITY OF WISCONSIN Economics 101 Fall 2008...

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

View Full Document Right Arrow Icon
UNIVERSITY OF WISCONSIN Economics 101 – Fall 2008 Problem Set 2 Due on February 11 at noon 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. The following graph represents the apartment rental market for 500sq. efficiency in the city of Madison. Throughout the problem, consider the apartments are homogenous. a) When the market price is above $1,000, nobody wants to rent a room, and it is known that when price is below $1,000, the quantity demanded will increase by 200 rooms for every $100 decrease in price. Find the intersections of the demand curve with the two axes.
Background image of page 1

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

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

Page1 / 2

ps2s08 - UNIVERSITY OF WISCONSIN Economics 101 Fall 2008...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online