microexam2004 - MICROECONOMICS I (Midterm I) 45 minutes....

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

View Full Document Right Arrow Icon

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

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

Unformatted text preview: MICROECONOMICS I (Midterm I) 45 minutes. Choose 12.5 points. Questions with an (*) have bonus points. 1. Shortly explain, why do we study microeconomics? (3.5 points) 2. Explain emergence and development of markets in microeconomics. (4. points) 3. (*) Explain consumer behavior. (2.5 point) 4. Explain consumer equilibrium in terms of cardinal utility. (2.5 points) 5. (*) Explain importance and conclusion of the optimization and equilibrium principle (3.5 points) Good luck! MICROECONOMICS I (Midterm) 45 minutes, Choose 4 questions. Questions with an (*) have bonus points. 1. (*) Explain consumer behavior. 2. Explain consumer equilibrium in terms of cardinal utility. 3. Explain importance and conclusion of the optimization and equilibrium principle 4. (*)By using cross elasticies, how can you define an industry? What difficulties does this lead? 5. (*)Should a producer, facing a negatively slopped demand curve for the commodity sold, operate in the inelastic range of the demand curve? Why?sold, operate in the inelastic range of the demand curve?...
View Full Document

This note was uploaded on 12/30/2009 for the course ORG 301 taught by Professor Duygu during the Spring '09 term at Sabancı University.

Page1 / 3

microexam2004 - MICROECONOMICS I (Midterm I) 45 minutes....

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