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Unformatted text preview: ECO2003F : INTERMEDIATE MICROECONOMICS MAY EXAM 2008 This exam comprises Two sections and 17 pages. SECTION A will count for 30% of the exam mark. Section B will count for the other 70% of the exam mark. SECTION A: PROBLEM SET You MUST answer SECTION A. Please answer this problem set in a separate booklet. SECTION B: MULTIPLE CHOICE This section comprises 42 MULTIPLE CHOICE questions. Please make sure you record your student number on your MCQ sheet. Negative marking applies with each penalty being specified next to the question. If you do not fill in E when you plan to abstain, then you will receive a penalty of 1 for that question. That is, blank answers receive a penalty of 1. Only use pencil to fill in your MCQ sheet. TIME: 2 hours and 15 minutes U U U U 1 SECTION A: PROBLEM SET The following information refers to questions 1 and 2: A representative consumer, who has an income of (M), obtains utility from goods X and Y via the utility function U = X1/4Y3/4. The prices of good X and...
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