spring2009_final

spring2009_final - Final Exam Econ 150b. Intermediate...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Final Exam Econ 150b. Intermediate Microeconomics May 11, 2009 Please write your name and discussion-section time on each blue book. 1. (15 points.) Defne any two o± the ±ollowing terms, introducing the relevant notation and using diagrams or equations where appropriate. (a) Marginal rate o± substitution (b) Pareto e±fciency (c) Competitive equilibrium (d) Pigouvean taxes 2. (15 points.) Choose any two o± the ±ollowing concepts. For each, explain in a brie± paragraph (about 50-60 words), with an accompanying equation or diagram where ap- propriate, its signifcance in microeconomic theory. You don’t have to give any proo±s. (a) Revealed pre±erence (b) First wel±are theorem (c) Price discrimination (d) Clark-Groves mechanism 3. (30 points.) Consider a monopolist who ±aces two consumers, labeled A and B . Con- sumer A has an inverse demand ±unction given by P A D 10 ° 1 2 x A , while consumer B ’s inverse demand ±unction is P B D 10 ° x B . Assume the monopolist has a constant marginal cost equal to 2 .
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/01/2012 for the course ECON 121 taught by Professor Samuelson during the Spring '09 term at Yale.

Page1 / 2

spring2009_final - Final Exam Econ 150b. Intermediate...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online