Econ 100A Midterm 1A FA07

Econ 100A Midterm 1A FA07 - Microeconomics, ECO 100A, Fall...

Info iconThis preview shows pages 1–3. 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, ECO 100A, Fall 2007, Dr. Famulari Midterm 1A: 200 points total Name_______________________________________Student ID_________________________ You must show your work to get credit for your answers Question 1: 45 points Question 2: 30 points Question 3: 30 points Question 4: 15 points Question 5: 80 points Total: 200 points Question 1: Preferences (45 points total) A consumer is asked to rank order the commodity bundles below: X 1 X 2 Bundle A 9 3 Bundle B 10 1 Bundle C 4 2 1A. (20 points) For the consumers preferences to be rational, what two axioms MUST hold? Name the axioms and define them carefully. 1B . (10 points) The consumer says that A~C and B C. On the graph below, illustrate this preference information using indifference curves on the graph below. X 2 3 2 1 4 9 10 X 1 1C. (15 points) Does this consumer consider X 2 a good, a bad, or a neutral? Explain your answer carefully....
View Full Document

This note was uploaded on 04/02/2010 for the course ECON 100A ECON 100A taught by Professor Famulari during the Spring '10 term at UCSD.

Page1 / 5

Econ 100A Midterm 1A FA07 - Microeconomics, ECO 100A, Fall...

This preview shows document pages 1 - 3. Sign up to view the full document.

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