{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

midterm_Friday - ECO 310 Fall 2008 Midterm Examination...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
ECO 310, Fall 2008 Midterm Examination October 24 Important instructions 1. This is a closed-book examination. Put away your books, handouts, notes, calculators, palmtops, cellular phones, . . . now . 2. Print your name and your preceptor’s name clearly on the front cover of each answer booklet. Write your answers clearly. We won’t grade unreadable answers. 3. Answer each question in a separate booklet . 4. Write and sign the honor pledge—“I pledge my honor that I have not violated the honor code during this examination.”—on the front cover of your answer booklet. 5. The examination is for 75 minutes. It will end promptly . 1
Image of page 1

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

View Full Document Right Arrow Icon
Question 1 [50 points] 1. [40 points] There are two goods whose quantities are denoted by x and y and prices by p x and p y . A consumer has the following utility function U ( x, y ) = xy + y. She maximizes her utility subject to the budget constraint p x x + p y y I and nonnegativity constraints x 0 and y 0.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern