hwk8sec7

hwk8sec7 - Experiment 8. Blue Cel s have instructions....

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Unformatted text preview: Experiment 8. Blue Cel s have instructions. Enter data in yel ow cel s. Keep going until you hit the Finish Line. Enter Section Number 7 Copy rows from Table 8.2 (no header row) and paste into A11 Table 8.2 Distribution of Demander Types Buyer V. Number of Buyers 24 10 18 10 12 10 8 13 Copy rows (no header) from Table 8.3 (Session 1, Round 1) and paste into A18. owner id price 1 price 2 price 3 price 4 747 10 8 7 6 740 10 10 10 15 735 10 10 10 6 733 7 24 6 5.1 732 10 10 12 730 11 10 9.5 12 727 6.5 5.5 7 725 9 10 722 6 6.75 1 721 10 7 18 719 9 702 10 10 6 6 12 12 11 10 6 count 108.5 111.25 86.5 50.1 sum Copy rows (no header) from Table 8.4( Session 1, Round 2) and paste into A37. owner id price 1 price 2 price 3 price 4 747 10 7 8 8 740 11 10 10 15 739 11 8 10 8 720 10 10 10 10 712 10 9 7.99 7.5 711 11 10 8 8 702 9.5 10 7.5 7.5 701 11 10 10 8 8 8 8 8 8 count 83.5 74 71.49 72sum Copy rows (no header) from Table 8.5 (Session 2, Round 1) and paste into A55. owner id price 1 price 2 price 3 price 4 749 11 10 9 24 747 9 9 9 9 735 10 10 7.5 7.5 730 12 9 9 9 711 9 9.5 9 8.75 708 15 9 9 22 705 9 9 8.7 8.5 704 9 12 8.5 9 8 8 8 8 8 count 84 77.5 69.7 97.75 sum Copy rows (no header) from Table 8.6 (Session 2, Round 2) and paste into A74. owner id price 1 price 2 price 3 price 4 749 10 10 10 24 747 14 10 10 10 745 11 11 10.5 10.5 737 10 9.99 9 12 726 24 12 11 13 707 11 11 10 20 6 6 6 6 6 count 80 63.99 60.5 89.5 sum mean Meals Total price Sold Profits Restaurants S1R1 9.137179 39-78.65 12 S1R2 9.4059375 32-19.01 8 S2R1 10.27969 32-87.05 8 S2R2 12.24958 24-18.01 6 First you have to determine the short run equilibria for each round of Session 1. You also have to do the long-run equilibrium. You fil in the answers in Table 8.7 below. These calculations aren't auto- mated. You'l have to figure some of this out yourself. First check the graph to the right The dashed red line is the SR supply for round 1....
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This note was uploaded on 12/25/2011 for the course ECON 1 taught by Professor Bergstrom during the Fall '07 term at UCSB.

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hwk8sec7 - Experiment 8. Blue Cel s have instructions....

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