100A Final Exam SP09 Eleven

# 100A Final Exam SP09 Eleven - Econ 100A Microeconomics...

• Notes
• ProfessorResolvePartridge10091
• 12
• 100% (1) 1 out of 1 people found this document helpful

This preview shows pages 1–5. Sign up to view the full content.

Econ 100A: Microeconomics, Spring 2009, Dr. Famulari Final Exam Version A: 500 points total Name_______________________________________ PID__________________ Question # Points 1 /140 2 /45 3 /50 4 /50 5 /45 6 /60 7 /60 8 /50 Total /500 STUDENT CONSENT FOR RELEASE OF STUDENT INFORMATION (Buckley Waiver) I hereby authorize the UCSD Economics Department to return my graded final examination/research paper by placing it in a location accessible to all students in the course. I understand that the return of my examination/research paper as described above may result in disclosure of personally identifiable information, that is not public information as defined in UCSD PPM 160-2, and I hereby consent to the disclosure of such information. Quarter: Spring 2009 Course: 100A Intermediate Microeconomics Date: 5/9/10 Instructor Melissa Famulari Student ID# Print Name Signature

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

View Full Document
Question 1 (140 points total): Toni gets utility from X and Y and her utility function is U(X,Y)= X 1-α Y α where 1> α >0. A. (10 points) Toni maximizes her utility subject to her budget constraint. What is the Lagrangian for Toni’s utility maximization problem ? B. (20 points) Write down the first order conditions and solve for the ordinary demand functions X * ( x p , y p , I) and Y * ( x p , y p , I)
C. (10 points) Toni minimizes her expenditures to achieve utility level U . What is the Lagrangian for Toni’s expenditure minimization problem ? D. (20 points) Write down the first order conditions and solve for the compensated demand functions X C ( x p , y p , U ) and Y C ( x p , y p , U ) E. (20 points) Provide a verbal definition of an inferior good. Does Toni consider Y to be an inferior good? Take the appropriate derivative to prove your answer.

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

View Full Document
F. (20 points) Provide a verbal definition of net substitutes. Does Toni consider X and Y to be net substitutes? Take the appropriate derivative to prove your answer.
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 12

100A Final Exam SP09 Eleven - Econ 100A Microeconomics...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online