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UNIVERSITY OF WISCONSIN
Economics 101 – Fall 2005
Wei Zhang
Problem Set 1
Due by September 12, 2005 (in class)
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.
Math Review:
This problem set is designed to refresh your graphing and algebraic skills, which will be used
intensively in the course. If you have a great deal of difficulty with this material, please speak with your
teaching assistant as soon as possible.
1.
a) Graph the line given by the equation y =102x, with y on the vertical axis.
b) What is the slope of this line? What would be the slope if you put x on the vertical axis?
c) Are x and y positively or negatively related?
d) On the same graph, show the line given by the equation y =12  3x.
e) What is the slope of this line? Is this line steeper or flatter than the first?
f) Solve algebraically for the value of x where these two lines cross.
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 Fall '07
 Hansen
 Economics, Microeconomics

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