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Unformatted text preview: Economics 100B Midterm Examination 1 Prof. Watson, Winter 2011 You have 50 minutes to complete this examination. You may not use your notes, calcu- lators, or any books during the examination. Write your answers, including all necessary derivations, in the spaces provided on the answer sheet that has been distributed separately. You may use the scratch paper that is attached here, but submit only your answer sheet. You do not need to show any work in your answers to questions 1-4; these questions will be graded only on the basis of whether your final answers are correct. You should show your work (the essential derivations and logic) for questions 5 and 6. NOTE: YOU WILL SUBMIT ONLY YOUR ANSWER SHEET, SO MAKE SURE THAT YOUR WRITE ALL NECESSARY DERIVATIONS FOR QUES- TIONS 4 AND 5 ON YOUR ANSWER SHEET IN THE SPACE PROVIDED. 0. WRITE YOUR NAME AND THE LAST TWO DIGITS OF YOUR STUDENT ID NUMBER IN THE SPACE PROVIDED ON THE ANSWER SHEET....
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