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ECON-301-1081-Midterm2_exam - Economics 301 Microeconomic...

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Economics 301: Microeconomic Theory II Test 2 March 4 th , 2008 Instructor: Emmanuelle Pi´ erard *************************************************************************** Name: *************************************************************************** Instructions : 1. Carefully label your graphs and show all intercepts, slopes (when con- stant) and points of interest. 2. Answer the questions on this paper. All explanations should be brief and precise (use point form if you wish). 3. In order to get marks for the problems, you must show your work . No marks will be awarded for the final answer alone. 4. No draft paper is allowed. If you need some, please ask a proctor for some. Return it with your midterm. 5. ONLY NON-PROGRAMABLE CALCULATORS ALLOWED . 6. You are allowed to take apart your exam if easier for you but you must hand in all sheets together at the end (whether you answered all questions or not) 7. In your answers, use point form if you wish and leave fractions as they are. Good luck!
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*************************************************************************** Student #: *************************************************************************** Question 1 ( 15 points ) (a) In an economy with one agent, one composite good and 2 periods, set up the Lagrangian of a utility maximization problem. To get all marks,
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ECON-301-1081-Midterm2_exam - Economics 301 Microeconomic...

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