HW8_302 - Problems 2, 3, 4, 5, 6,15, 18 Seventh edition...

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Econ 302- 8th Problem Set Spring 2010-Ali Toossi Due: Wednesday, March 31 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 and the additional problem. Chapter 5: Questions for review Eighth edition page 163 : Questions 1, 2, 4, 6 Seventh edition page 163 : Questions 1, 2, 4, 6 Chapter 5: Problems Eighth edition pages 163- 165:
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Unformatted text preview: Problems 2, 3, 4, 5, 6,15, 18 Seventh edition pages 163- 165: Problems 2, 3, 4, 5, 6, 15, 18 Additional Problem: 1- Suppose you have the utility function xy y x U = ) , ( . a) What is your utility for bundle (40, 5)? What is the equation of indifference curve through (40, 5)? b) Your friend offers to give you 15 units of y if you will give her 25 units of x . Would you have a bundle that you like better than (40,5) if you make this trade? What is the largest number of units of x that your friend can demand from you in return for 15 units of y if she expects you to be willing to trade or at least indifferent about trading?...
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