HW6_302 - Econ 302 6th Problem Set Spring 2010-Ali Toossi...

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Econ 302- 6th Problem Set Spring 2010-Ali Toossi Due: Wednesday, March 10 All problem sets should be prepared neatly and professionally. Problem sets should be typed , stapled and should contain the following information on the right-hand corner of the page: your name , course number , section , assignment identification and date . Problem sets that are sloppy, torn from spiral-bound notebooks, or which are illegible, or unstapled, will be graded down. Please do the following problems in the textbook plus the additional problems. Chapter 4: Questions for review Eighth edition page 128: Questions 3, 4, 5, 13, 16 Seventh edition page 127-128: Questions 3, 4, 5, 13, 16 Chapter 4: Problems Eighth edition pages 128-130: Problems 1, 2, 3, 18,19 Seventh edition pages 128-129: Problems 1, 2, 3, 18,19 additional problems 1- Suppose Ambrose’s utility function is y x y x U + = 4 ) , ( . Suppose the price of x is P X and the price of y is P Y and his income is m . a. Find the demand function for x . b. Find the demand for y . c. Suppose P X = 1 and P Y = 2 and m = 9. What is the demand for x and y ? Ambrose will demand a positive amount of both goods for what values of
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