ECONOMICS.200A.SILBERBERG.WINTER.2007.QUIZ 1

ECONOMICS.200A.SILBERBERG.WINTER.2007.QUIZ 1 - Economics...

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Unformatted text preview: Economics 200A Quiz 1 Professor Gene Silberberg uiAgkf 1‘90? 4 D YOU MUST EXPLAIN YOUR ANSWERS! 0 Pat has the following marginal value schedule for hamburgers eonsumed per month. The market price of hamburgers is $9. J, 7 'fl */ ”‘2' aHJ many hamburgers does Pat consume, and what IS th total expenditure? (Cam/1W 3 hamburye Mi {'5 CW? bWt IS Pat’s gain from this consu ption of amburg ers? 9 goon {comm furl)“; M) (5 TS/gTE: $6 2?: W c How much woulj Pat gain if the price of hamburgers was lowered to $3?P E 3M) $0 W 41) WPd «(Pam WSW/Jigs? 76m ~FM Ag: Té-rTE Mi 1“, ML 'i‘M ~(Tl?](3 ...
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